BestInMortgage.com Post Your Mortgage Question Find mortgage expert in your area
You are not logged in. Login here. Not a user? Sign Up
Email: Password:
 
Search by Mortgage Terms: Ask My Question


Search: "Loan"

Pages:  1 
 
 2 
 
 3 
 
 4 
 
 5 
 
 6 
 
 7 
 
 8 
 
 9 
 
 10 
 
 11 
 
 12 
 
 13 
 
 14 
 
 15 
 
 16 
 
 17 
 
 18 
 
 19 
 
 20 
 
 > 
 
 
 

Asked 01/04/2010 10:42 am CT (Hammond, IN)

My sister's loan was sold to another mortgage company. She kept making the same payment, thinking that her escrow was still being collected. However, when she went to pay her taxes, she found out that the new company did not escrow. Now they are giving her 1 month to pay and will not adjust her account so that the "extra" money she paid can be used for taxes. Can they do this? Is there anything she can do? Legally or otherwise?

Keywords:
                  

 
 

Asked 12/19/2009 03:06 am CT (Duluth, MN)

On May 17th, 2001 we entered into a contract for a construction loan with a local bank. We were going to clear ground, build a full foundation, and move our upscale mobile home onto a 40 acre parcel that we had purchassed (and paid for) a couple of years before. We were told that at the end of the construction loan term (90 day\'s) that it would be turned into a 30 yr. mortgage and insurance and taxes would be escrowed into the monthly payment. When we went in to sign the paperwork after the construction was finished and the home was moved onto the property, we were told that they were unable to secure a mortgage, but that they would carry a note for the total amount owed. At that time we were told that they would only carry the \"note\" for a period of twenty years, and that it would not include insurance or taxes. The \"truth in lending\" paperwork showed (at the time the construction loan was approved) that it would be a 30 year term and that they were \"able\" to service the loan. We were caught between a rock and a hard place, and were forced to accept their \"new\" terms as we did not have $125,000.00 in cash to pay off the construction loan which was now due! Although the payment\'s were quite a bit higher, we were able to make payments for several years, and every year they would continue the note. Lately, because of the lack of wok due to the economy we have fallen behind several times in our payment\'s, but have alsway\'s been able to catch up. 3 months ago, we received a letter in the mail after being only 27 day\'s late, that they would begin forclosure proceedings if we did not catch up our payments. We did, but are now living under the pressure that we will lose our home if we are late even a little bit late. They refuse to help us or even work with us. Is any of this even legal?

Keywords:
                                              

 
 

Asked 12/15/2009 04:16 pm CT (Apache Junction, AZ)

My husband lost his job 2 years ago due to an illness. He has been on SSI for 7 months now. Our current mortgage is in his name only (my name is on the deed but not the mortgage) and our lender refused any sort of restructuring of the loan. Because of our debts we had to file chapter 13. Prior to filing bankruptcy our lender offered a settlement of $80K less than we owe on the loan. Would we be able to finance with a new lender and if so would it be for the amt our current lender offered us as a buy out?

Keywords:
                    

You would have to ask your lender (current) if they will still do the settlement. If so then you cou...

[ Total Answers: 1 ]

 
 

Asked 11/13/2009 12:01 pm CT (Alexandria, VA)

I am preparing tax return and looking a 1098 in Box 1 has $61,000 of mortgage interest but in the detail of payments has only about $20,000K of interest. The house was sold during year and mortgage paid off - around $485K balance on loan and it was a Conv Jumbo PayOption ARM..Question: Why the difference and is the $60K of interest correct. Thanks.

Keywords:
                

 
 

Asked 11/05/2009 05:16 am CT (Jacksonville, FL)

I am looking into a 3/1 ARM backed by the CMT index. The margin is 2% with a 5% cap on the life of the loan. Starting interest rate is 3.75. I was just wondering if this is a good deal or not and if refinancing is a good idea if you are only getting an interest rate about 1 point lower than the current one. Currently my interest rate is 6 1/8. Thanks

Keywords:
            

 
 

Asked 11/04/2009 02:00 pm CT (Miami, FL)

Hi, can smbd please tell me whether the interest rates are lower on a home mortgage or a home equity loan? I’m purchasing a condo and considering two options: financing it the first time around or purchasing all-cash and then taking a home equity loan. Can smbd tell me pros and cons? What about qualifications? Which one is easier yo get? Thanks a million times!!!

Keywords:
                        

 
 

Asked 10/05/2009 12:39 pm CT (Asheville, NC)

I recently became unemployed, but was planning on purchasing a home before that happened. Can my fiance, who is employed, and myself be on the loan or just him? I would like to be, if it\\\'s at all possible. Thanks!

Keywords:
    

In most cases you can be on the loan even if you don't have income. However, your credit will facto...

[ Total Answers: 1 ]

 
 

Asked 09/14/2009 10:20 pm CT (Sandy, UT)

My husband and I have owned out home for 13 years. It is our primary residence. Last November, 2009 we refinanced consolidate our 1st and 2nd mortgages and to pay off credit card debt. Our credit was poor at the time and we received a 11.33% interest rate on the new loan. They told us that if we could keep on the mortgage payments and not incrue any new debt, they would refinance us Nov 2010. Since then they have closed all their branches and are no longer taking any new business which included refinancing their current clients. We currently owe $158K with a payment of $1,760 per month plus a 5% prepay penalty estamated value of the home is $166k. if we refinance or sell before November 2011. The currently mortgage company states that they have chosen not to participate in the Obamha Stimulas package. We have been playing the pay them late but just in time game for month and we can\\\'t keep it up any longer. On Sept 30,2009 we will hit our first 30 days past due. We have found a rental house to move into but what are our options for getting out of this home and the mortgage. How will the options affect our credit? is one worse than the other. What are the tax implimintations? Thanks, Cathi

Keywords:
                                            

Cathi, There are three options for getting out of your home. 1 – sell the home. This is the ...

[ Total Answers: 1 ]

 
 

Asked 09/14/2009 12:48 pm CT (Chicago, IL)

I was engaged to my husband in 2001. In August 2002 moved into a home. We both paid money at the closing. However my name was never put on the deed or the mortgage. We were married in August 2003. Since then the house has been refinanced 3 times because of my husband's credit card debt. The initial loan was for $109K and is now $192K. In 2007 when we refinanced I signed a homestead waiver, if for any reason he could not pay the mortgage I did not want to be held responsible for the mortgage. He is now in debt again and I am considering a divorce. Even though my name is not on the mortgage or deed and I signed a homestead waiver, do I lose all rights to the property.

Keywords:
                                

 
 

Asked 08/23/2009 11:10 am CT (Germantown, TN)

My daughter and her husband are separated - he left the house about 4 months ago. He has not given her any support since he left. They have a house with a loan of approximately $322,000 - a mortgage payment of $2,200 principle and interest only. The tax appraisal on the house is near the load amount. Taxes and insurance would add approximately $500 more per month. She has been laid off from her job and has applied for unemployment - should draw about $230 unemployment pay plus $1500 per month child support ($750 after 9 more months as the oldest child will turn 18). Husband is self employed but tells her that his business is down and he is now only drawing one pay check per month ($500 net). He also works part time and makes approximately $1,200 per month. Medical insurance for him and my daughter currently comes out of the part time money ($100 per month). He has told her that he will take her off the insurance in December. He also just purchased a new care through the clunker campaign. My daughter's name is on the deed to the property but not on the mortgage. She has managed to keep the payments current until this month but she can no longer pay the full amount. When she contacted the mortgage company regarding a loan modification she was told that they did not qualify because they were not behind on their payments. She was told that she should try to refinance and try to sell the house even if it was a short sale. Husband wants to let the house foreclose - she does not - he has not agree to put it up for sale. Questions are: 1. Does he have to agree to put the house up for sale or can she do it on her own? 2. Does foreclosure affect her credit? 3. Does she have any obligation to pay the mortgage payment? He continuously tells her that she is as responsible for the payment as he is since her name is on the deed. 4. The loan company told her that foreclosure proceedings would not begin until the payments were three months behind. Is that true? In other words, if she makes a partial payment, say $1,000 per month, will the house ever go into foreclosure? She wants to do the right thing but needs whatever assistance is available to her - what are her options? This is a case of someone not being able to afford the amount of money that was loaned to him.

Keywords:
                                                              

Patricia, If, in fact, your daughter is not on the mortgage then she is NOT responsible for the mor...

[ Total Answers: 1 ]

 
 

Asked 08/19/2009 11:27 am CT (San Bernardino, CA)

My husband and I are on the mortgage note but my son/daughter-in-law on on the deed to a property purchased in 2006. We live in California and have experienced a decline in the valve of our home, approximately 133,000 upside down. Is it possible to sell the home to my son on a short sale? I understand it needs to be approved by loan company but I was told we could not sell on \"short sale\" to a family member.

Keywords:
                      

That is correct. And especially to one that is on the deed even though they are note on the loan. ...

[ Total Answers: 1 ]

 
 

Asked 08/14/2009 09:03 am CT (St. Paul, MN)

i am in the process of buying a house. My husband owns a house and the loan is under him only, I am not on the loan but I am on the title. Will I still qualify for an FHA loan?

Keywords:
              

Maybe- If the loan is not an high loan to value FHA and you qualify for both payments, you might be...

[ Total Answers: 1 ]

 
 

Asked 08/11/2009 12:24 pm CT (Camden, NJ)

can you let me know what is the requirement for fha loan and what is the benefit of one

Keywords:
    

 
 

Asked 08/11/2009 12:20 pm CT (Camden, NJ)

hi i am currenly looking to buy my first house i have an icome of 30000 my wife bring about 40000 but have a defalut in his student loan can we have a mortgage togerther i dont have credit .i want a mortgage of 150000 or do i need co sign and can i have a joint income with my wife or it is wise to go it alone

Keywords:
                  

 
 

Asked 08/01/2009 08:10 pm CT (Aiken, SC)

IF I HAVE BEEN APPROVED FOR A USDA LOAN AND THE SELLER THAT I AM PURCHASING THE HOME FROM IS OFFERING TO PAY 3% CLOSING COST IF MY OVERALL LOAN IS 142000 IS THAT GOOD

Keywords:
    

 
 

Asked 07/24/2009 11:14 am CT (Seattle, WA)

I have heard that if the 2nd mortgage company did not file a deed of trust with the recorder's office I can have the loan dismissed in CH 7. I need to know if this is true, and if so, what RCW or Title 11 code I need to reference in my paperwork.

Keywords:
            

wow! good question. That is probably best answered by a bankruptcy attorney. However, I can tell ...

[ Total Answers: 1 ]

 
 

Asked 07/24/2009 07:36 am CT (Bayonne, NJ)

Hi, my name is Pete. I have a few questions. I am looking to purchase a condo in Manchester for $80K. I am inquiring as to your rates for a 30 year mortgage and as to if a 10% down payment is an option. Also, my credit is awful and I would need a cosigner, I’m 100% confident that my cosigner would be approved. With that assumption, would I still be eligible for an FHA loan?

Keywords:
                  

 
 

Asked 07/22/2009 08:53 pm CT (Atlanta, GA)

i am self employed and my taxes don't show enough income to re-fi- my wife job net about $225 amonth and i had a loan modication 2 years ago and it is coming to a end and my mortgage lender say's i can only have one per life of loan. what can i do now if that is true and if i still can afford the payments

Keywords:
                  

 
 

Asked 06/28/2009 07:45 am CT (Jacksonville, FL)

My mother has filed a quickclaim deed with the county as \"rights of survorship\" to me. We want to add my name to the actual deed with the mortgage company. Will I be required to re-finance the home with the mortgage company (bank of america)? When the loan was with country wide we were told that as long as I was on the actual deed to the home I could simply continue the payments. I have no interest in selling the home and just want to live in it.

Keywords:
                        

You would have to check directly with BofA, but most likely yes. Just because you are on the deed, ...

[ Total Answers: 1 ]

 
 

Asked 06/04/2009 09:55 am CT (Asheville, NC)

I have scores of 513, 560, and 548. I am currently trying to clean up the CB scores and expect this to improve somewhat. My husband has 568, 580, and 598. We have an income of 76,000 per year, i have been employed 2 years, him 1 and a half. We have had no late payments this year. We have only student loans as debt, but its about 50,000 between the two of us, the payments around 345 between us per month. We have a landlord willing to write a letter that we have been on time every month, can show statements of our electric, phone, and cell bills, all current for the past year. We have a down payment of 3500, and we have closing costs. We want to buy a house in our neighborhood for 158,000. any chance we can do this PRIOR to the end of the year???

Keywords:
                          

Yes, but you need to get your scores at or above 620. Credit score standards have become more stric...

[ Total Answers: 1 ]



Pages:  1 
 
 2 
 
 3 
 
 4 
 
 5 
 
 6 
 
 7 
 
 8 
 
 9 
 
 10 
 
 11 
 
 12 
 
 13 
 
 14 
 
 15 
 
 16 
 
 17 
 
 18 
 
 19 
 
 20 
 
 >