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Asked 05/02/2009 12:24 pm CT (Abilene, TX)

My question is, my husband\'s credit score is 566, i am not sure what mine is but is probably lower than that, we have been leasing a house for the last 4 years but would like to purchase it now. The price on the house is $70,000, are there any lenders to go through without putting a huge amount of money down?

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Laura, We have programs that can help you, with our free credit repair service. Depending on your...

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Asked 02/28/2009 01:54 pm CT (ogden, UT)

I am married due to religous reasons I will stay married but I would like to buy my own home. I have been removed from my husbands mortgage. I have excellent credit have been approved for 150000.00 loan but due to the marriage lenders wont give me a fha loan what can be done?

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Traci - you're going to want an FHA loan. Did they give you reasons why you can't be approved for a...

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Asked 09/19/2008 12:08 pm CT (Sacramento, CA)

This one is bad ... at least for me. We have several mortgages on the house we're living in. The house was purchased on a 80/20 with zero down at the peak of the market for $670K. The first is $540K, the second is $130K. Shortly after that we got an equity line from Bank of America for $210K to start landscaping at what not. At that time the house appraised for nearly $900K. Being adjustable the payment went OUT OF SIGHT last November. I stupidly figured as a stop gap I could borrow against the HELOC to make the payment. Well the rest is history ... although the payment which adjusted first in November (OUT OF SIGHT) came back to more normality in May (the next adjust is November 08). Now the HELOC has been shut off by Bank of America (at about $180K) and we are $3K short per month. I think I'm out of options as I've been pulling a rabbit out the hat for months. What should I do?? I'm considering not paying Bank of America and second for a period to keep us a float. Calling them (various lenders) to see if they'll work some type of solution. Praying for salvation ... etc. In this mix I actually have another home which is not upside down. Which we are renting out (with a payment we can afford). I'm guessing the various lenders can't touch that home ... so we're considering evicting the tenants, stopping paying the others and moving back there. Any pointers or insights you could provide would be helpfull. I can't pull money from anywhere and am down to the point where we'd be Bankrupt if I made the next months payments (read broke). I also owe $11K in tax on the problem home. I didn't pay that to enable myself to meet the mortgage for a 3 extra months. Thanks in advance.

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Jim, tough situation. It's obvious you can't service the debt you have. It will be a stretch to...

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Asked 04/17/2008 10:20 pm CT (Louisville, KY)

My husband & I would like to purchase our 1st home. I have a middle FICO score of 556 & my husband's is 585. We are having difficulty finding a lender to approve us for a loan due to our low credit scores & I took 10 months off work last year to care for our child. Are there any lenders out there who will consider a 556 score? We do have some collections on our credit report. We make roughly $50,000 a year & are hoping to buy a home for $132,000 We also have 20% down in the form of gift funds from my father. Does anyone out there know a lender who will approve us with our credit scores & collections on our report? Thank you in advance for any help or advice.

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Asked 03/28/2008 04:51 am CT (livonia, MI)

we our paying our back loan payments today at the lenders bank, but we are 4 days from the sherrifs sale. we will pay with cash, and will be current, we have the lender telling us that they will stop the sale,but we also have the law firm holding the forclosure notice telling us they have to get all the money. who is right and can i trust the lender and there agreement with me. thank you

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Asked 01/21/2008 01:24 pm CT (Richmond, VA)

I have good/fair credit median is 700+ i want to re-finance my house but my debt to income ratio is slightly high, it was high when i got the mortgage a year ago so i don't understand why i'm having issues re-financing, are there any lenders that will overlook this so i can re-fi. I desperately need to.

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ING- Good credit is king and congratulations on that. With home values dropping, it has been harder...

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Asked 11/28/2007 12:45 pm CT (vacaviile, CA)

We have 3 properties, 2 rentals and occupy the third. We have no late pymts and our credit scores are good (700+). The loans on all homes are still in the 2yr prepayment period, but considering to refi anyways due to the mortgages becoming too much for us. How will trying to refinance all loans at one time affect us (credit sdcores, lenders, etc)? Or is it better trying to refi only one home at a time, and doing the others later?

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Cade, I concur with the suggestion of doing all three at the same time...you should also ask the len...

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Asked 11/10/2007 12:22 pm CT (rialto, CA)

We just bought our home last Dec 2006.We have a 288 loan and a 80/20.We went in with a $30,000 equity loan.Now because of not being able to get parts back East,because of the weather condidions,we were forced top be laid off for 3 months.we got behind for three months on the first loan.Can we refinance and get our loan into one mortgage and get extra money to pay city taxes. The mortgage is a fixed loan and the first is 6.665 interest.We have tried but the lenders say no.We are senior citizens,but have a good income.What are our options?

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Asked 10/30/2007 12:31 pm CT (helendale, CA)

I have the funds and I want to buy down the interest rate on a home loan by 2 %age points. How does this work?Some lenders are saying they can't do it. P;ease answer soon!

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Don, please give me a call. Larry 888-660-2842

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Asked 10/17/2007 01:47 pm CT (SPARKS, NV)

HELLO, MY QUESTION IS IF WE INCLUDE OUR MORGTAGE LOANS IN BANKRUPTCY THE LENDERS SAY WE'LL RECIEVE 1099'S FOR THE 2ND AND 3RD LOANS ON THE PROPERTY. OUR BK ATTORNEY SAYS TO TALK WITH A CPA , WHAT'S YOUR THOUGHT ON THIS? THANK YOU, BIG DOG

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That's generally true. Any amount that they write off as a loss will be credited to you as income re...

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Asked 07/11/2007 08:05 pm CT (cross, SC)

my husband was hurt and was out of work long time we filed bankrupsy and still got behind a payments on [mobile home] case was cancel my morgage co. demanded a balloon payment of $2700 dollars they agreed after that payment we would work out payment plan monthly,parents help us with that payment,couple days later recieved ph call from morgage co.that our loan had been solded & new morgage co told us that wasnt good enough that they wanted a balloon payment sent IT. my problem is had another phone caLL FROM LENDING Co.again infoming me me contract has been sold again and co wants another $2700 we are tryin been makin monthy payment is doubled ,lender still tells me dont send any more payments they wont accept it and will foreclose on my home anyway tellin me that contract promising me we could make paymentasnt any good because of new lenders we r tryin, can company legally foreclose without even keeping theier end of agreementwe dont want to lose our home and we making payments what rights do we have

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Your situation is too complex for anyone to anwer over the internet. I recommend consulting an atto...

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Asked 07/05/2007 01:33 pm CT (Charlotte, NC)

I have fairly terrible credit, and I am looking to buy a house within the next 6 months. Are there any verifiable, guaranteed lenders out there? I've applied with several that supposedly 'offer bad credit loans', but either they don't get back to me or they decline me. What can I do? Thanks.

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Christina, I would like to get a little more information about your scenario. Please email me whe...

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Asked 04/26/2007 10:11 pm CT (robinson, PA)

My husand and I are wanting to buy a new home. Are credit is not the best his credit score is around 557 are there any lenders out there willing to help us? I just want to know before hand.

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Hi Lori, From my experience, if your scores are in the 500's you will need to have some money for a...

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Asked 04/25/2007 05:53 pm CT (Fort Lauderdale, FL)

I am 2 years into a 2/1 Arm with a 3yr PPP and I am looking to refinance as my rate will climb 2 pts. My property is unique in that it is a Co-Op with a separate Land Lease. There are very few banks that currently offer this type of loan, but more and more are offering loans to Co-Ops and I'm shopping for more lenders. Do you know any lenders in Florida that will do loans on this type of property? Regards, Derik

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While the 2% jump is tough, you should look at how much teh prepayment penalty is and see if the inc...

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Asked 04/25/2007 03:39 am CT (manchester, British Columbia)

Hi, whilst I was at university I got myself into debt. Although I’m no longer in debt I do however have a very bad credit history. I’m unable to get even a credit card. I went to see my bank recently to find out if I can get a mortgage and was told I could only get 55k max. I have seen a property I really want to buy for investment only but it is over 90k. I live with my parent so I’ve never owned property. I don’t know who to turn to for a mortgage. Can you please advice which mortgage lenders I could speak to? Thanks

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Asked 04/20/2007 10:56 am CT (Dublin, NY)

I am an Irish Citizen who is considering purchasing property in the US in the next few months. I was wondering what the proceedure for non US citizens purchasing property in the USA. Are there any taxes or benefits that we should be aware and what typicaly is the percentage down payement required by US lenders for non US citizens. I hope to rent the property rather then live in it and us eht eincome to pay the mortgage Aslo are we obliged t

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THERE ARE LOAN FOR NON-CITIZENS. GIVE A CALL ASAP 347-573-9799...

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Asked 04/05/2007 02:09 pm CT (Ojai, CA)

My finace's mother has a very peculiar problem. Her and her husbands finances have always been seperate. They own three houses and have a small mortgage on the one they live in, the other two are rentals. He is very tight with his funds, she has helped out her family and children to the poibt were she has become over extended in credit card debt and other financial obligations she can no longer afford. He will not help her. He will not sign for any type of credit line or loan. Being that California is a community property state, and she contributed just as much to their wealth, is there any way she can get a line of credit, or loan using either one of the properties or her primary residence without him? Divorced has been discussed, in which case it wouldn't be a problem, and I realize that community property states require lenders to have both signatures, but is there any loophole, law, or back door she could use to go forward without him? Any information you could give me would be helpfull.

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Jason, Sorry to hear about the situation. The Husband will need to sign a quit claim deed to rem...

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Asked 03/08/2007 05:28 pm CT (sacramento, CA)

If i want to refinance my house and have a prepayment penalty for a year, what is the best option for me to do ,and which lender can pay my closing cost. Are there any lenders who can takeover my loan and i am wiling to pay 10% of the loan amount so that i have equity in the house.

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The best option for you regarding your prepayment penalty would depend on what you are trying to acc...

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Asked 01/13/2007 11:53 am CT (Castro Valley, CA)

For all of the residential lenders out there, I want to offer this: Any commercial lead of any size that closes with me will pay you .5 point - just for a lead! Don't be frightened of the commercial loans, just refer them and get paid! Anywhere in the world! Happy New Year write to dawn.ernst@pspmortgage.com or call 866-742-5172

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Asked 12/19/2006 01:01 pm CT (Atlanta, GA)

If I'm shoppping for a loan, how many lenders can pull credit and it not damage my credit score?

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Hi Thomas, You can have multiple lenders pull your credit within a 30 day period and it will not ...

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