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Search: "House payment"

 
 

Asked 09/16/2009 07:26 pm CT (Northglenn, CO)

Hi - I have lived in my house for 3 years - I have a second mortgage. I had lost all my equity to pay bills when we got here - my house payment is killing me. We don't utilize all our space. How realistic is it that I can get another house when I'm upside down by about 20K.

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Hi, If you are upside down by 20k, and you want to buy another home, you probably need to sell y...

[ Total Answers: 1 ]

 
 

Asked 03/01/2009 05:15 am CT (Louisville, KY)

WE ARE FOUR MONTHS BEHIND ON OUR HOUSE PAYMENT - WE HAVE RECEIVED FORCLOSURE NOTICE - WE HAVE THREE MONTHS OF MONEY TO PAY BUT THEY WON'T ACCEPT IT - IS THAT LEGAL - WE CAN MAKE THE FOUR ONE NEXT MONTH AND THEN CATCH UP WITH ANOTHER NEXT MONTH - SHOULD WE GO TO HUD OR FANNIE MAE?

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Asked 11/05/2008 03:35 pm CT (State College, PA)

First I must say that you do not have the city I live in on your list so I just picked one. Anyway here is my situation. I need to refinance my home to lower my payment, repair my roof and lower my interest rate and I have done everything that I have been asked to do. I have a manufactured home and land appraised at 75,000. My credit is good and I actually pass FHA inspection and have released the title to my home. The only problem I run into is there is no properties such as mine that have sold in the past two years. Now I do live in the smallest county in PA we only have 5300 people and sales are a little slower. There are a lot of manufactured homes being purchased as they are affordable for folks but no one is selling. I am at my wits end and don't know what to do. I am struggling to maintain my house payment the way it is and am afraid I will have to let it go back. The current lender will not consider refinancing the loan. Do you have any suggestions?

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Asked 11/03/2008 12:57 pm CT (Tulsa, OK)

I signed a quit-claim deed and let my ex husband have the house in our divorce 4 years ago. The divorce decree states that I shall be "held harmless" when it comes to the mortgage My name remains on the mortgage. He rarely makes a house payment on time and has trashed his credit right along with mine. I have defintely been harmed. I am unable to obtain a credit card, a car loan, or any type of loan whatsoever. He only owes $11,000 on the house and it is worth around $150,000. Still yet, with his poor credit and low cash flow (he is self-employed) he says he can not find anyone to refinance the mortgage and release my name; nor does he have the cash to pay it off. He does seem to come up with money when he wants to...e.g. a new Harley Davidson, 2 SUV's, a boat, 2 sea-do's, etc. etc., however, that was before the economy got so bad. My parents have hired an attorney on my behalf and plan to take this matter to the court's in hopes of the issue being resolved. I have researched the matter and am afraid that they might be wasting their hard earned money. Am I completely out of luck, or is there a possibilty this could be resolved somehow? Thank you in advance for any advice you can give me.

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Asked 05/18/2008 01:36 pm CT (kansas city, KS)

I am in a unsatisfactory relationship and w/o the other\\\\\\\'s income I cannot afford the house payments. Can I give the property to the lender w/o severely damaging my credit?

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Yes it will damage your credit. It would be better to contact a real estate agent and sell. If you...

[ Total Answers: 1 ]

 
 

Asked 01/22/2008 05:10 pm CT (cambridge city, IN)

Hello. My situation is this. We have been trying to sell a house for 3 and a half years almost. It does need a little work but it's priced reasonably at 58,000. We went ahead and built a brand new home because we could afford two house payments. We are thinking of filing bankruptcy to get out from under that house because we don't see any other way. Our market is extremely terrible here where we live. Houses are sitting for years. If we were to file a chapter 13 bankruptcy how much of the 60,000 that we owe on that house would we have to pay back? Also would filing bankruptcy affect the new house? Would they be able to mess up our loan on the new house or take it away from us? Thank you for your information. Ray

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Asked 01/20/2008 03:51 pm CT (Greenville, NC)

My husband and I got married just a month an half ago. He told me and my children to get out last night. My name is NOT on the mortgage but it is on the deed. He told me that I will still have to pay my half of the house payment. Is this true? Is there a way I can get out of it. I don't want anything from the sale of the house.

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No you are not required as of this point to make minimum payments of any kind. I say at this time be...

[ Total Answers: 2 ]

 
 

Asked 04/20/2007 04:47 pm CT (Odessa, TX)

Two years ago the department I was working in closed down. I was making very good money at that time. However, since then I have been late on my mortgage payments. I have talked to the company and they helped. My job has been outsourced and the field I no longer make the money I used to. Last year it became worse with the gas/electricity hike. I fell behind again this year. I am not sure if I should sell my house or not. They say if I do not pay the payments I missed it will go into rapid foreclosure. However, my house payment is cheaper than the rent for a 2 bedroom apartment. Should I sell and look for a cheaper alternative? My credit is not good and I have no one to borrow money from. Thank you for your help.

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Asked 03/22/2007 09:46 am CT (Roseville, MI)

My husband is recently deceased. He had no estate. Two years before he died he refinanced the house. I did not want to refinance. He refinance in his name. My name is not on the mortgage note. I did sign an insurance rider. I am not exactly sure what that was. I could not make the house payments so I let the house go into foreclosure. I had just received a hardship discharge for Chapter 13 and I was not old enough for wiows benefits. I decided that foreclosure was my only option. I will be moving in about six weeks. The mortgage company is demanding that I purchase a years worth of hazard insurance on the home or they will purchase it themselves. My redemption period is up June 13th. I really can't afford this purchase of insurance. Am I responsble for the insurance just because my name is on the deed? They are getting he house and I can't really pay for 1/3 of a years payment towards property insurance as I am trying to get money together to move somewhere else. I don't know what to do because they are sayin that if they buy insurance it will be 1,700. 00 with premiums of 225.00. Can they really charge that to me or do they charge it to the estate when there isn't an estate? Thanks so much, in your attempts to help me....Sandy

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The Morgage instrument requires the mortgagee to keep insurance on the property. You are not the mo...

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Asked 03/21/2007 03:40 pm CT (nashville, TN)

last year i lost my business because of what someone said that was not truthfu, because i lost my income, i had to go back to school in order to find another job in the nursing field, since all of this begin i have gone down hill, i am working now but i cannot seem to cautch up with paying my bills, my house payment is my main worry, can i get a second morage on my home. will this be hard to do. thanks k. bush

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Kathleen, this is a difficult question to answer without knowing more and seeing your credit report....

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Asked 01/09/2007 11:13 am CT (St. Paul, MN)

This is regarding my mother's house, she has lost her renters and can't afford to pay her house payments. How long can she stay in the house until the mortgage company or bank take back the house? Thank you,

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Patrick, She will receive a Notice of Default at 120 days of deliquency. Then when the mortgage is...

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Asked 08/07/2006 07:55 am CT (lawrenceburg, IN)

I am considering chapter 7. I am 3 months behind on my house payments. Will I be able to keep my house?

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Hi Jennifer, You should be protected from losing your house under bankruptcy protection. However...

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Asked 07/16/2006 07:53 am CT (toledo, OH)

hi, my husband and I bought our first house about 10 months ago. On the day of closing we found out that I was pregnant with our third child- a little unexpected. Anyways, we purchased the house knowing we would be comfortable with our payments because we both worked full time. During the pregnancy I had to cut my hours down in half then I had an unexpected c-section which put me further out of commision from work. Now the baby is 3 months old and we have already taken one house payment and spread it out over 9 months. However, we are so behind on everything that i'm not sure what to do. Would we have an option of a second morgage to get back on track? The house was appraised at 11,000 more than what we bought it for. Furthermore, our rate was 5.85% can we refinance at the higher rate to get extra funds? Please help with any suggestions.Thank You

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Kristi, Jeff's answer is good, but I would consider selling before you put yourself in a worse si...

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