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Search: "Mortgage balance"

 
 

Asked 05/19/2009 09:43 am CT (Sumter, SC)

I bought a home prior to marriage, I still have a mortgage balance, can I put my husband\\\'s name on my deed and title without refinancing?

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As a general rule, you may place your husband on the title. However, please check local laws to see ...

[ Total Answers: 1 ]

 
 

Asked 02/10/2009 07:53 am CT (Clearwater, FL)

My mortgage balance is 260,000. Market value for my house is only 160,000 and is going down. I am two months behind on payments. I would like to keep my house but can't keep up with payments due to reduced income. Is it possible to reduce mortgage balance to current market value, because that would be only way for me to afford monthly payment? Thank You, DH!

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You need to contact your lender's loss mitigation dept to determine what options are available for y...

[ Total Answers: 1 ]

 
 

Asked 11/24/2008 02:08 pm CT (Sparks, NV)

I own a single family home with a mortgage balance of approx $175K on a 6.25% FHA 30-yr fixed. The home's market value has declined steadily and is now worth approx $140K. I am not behind on any payments yet, and my credit is excellent with a current FICO of 768. I'm expecting a 20% reduction in work hours - and thus a 20% reduction in income - effective 1/1/09. This loss of job hours will inevitably result in falling behind on the mortgage payments at their current level. Will I likely be more successful in approaching the mortgage company for a loan modification for 1) a substantially lower interest rate on the current balance (propose approx 3%); or 2) reducing the balance to the realistic market value; or 3) some other measure or combination of the above?

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Asked 05/06/2008 05:02 pm CT (Marlboro, NY)

I'm getting married. My fiance owns his own home. The mortgage and deed are both in his name. He owes about 75% of the value of the home on the loan. We want to get a Home Equity, with me as the primary, for a better interest rate. Can he just add me to the deed? Does the primary mortgage holder have to OK me being added to the deed since I'm not on the mortgage? Also, if I need to be on the primary mortgage, can I just be added to the mortgage without having to refinance the primary loan?? Note: the primary mortgage has a great interest rate, so I don't want to refinance it. Also, I have excellent credit and have already been preapproved elsewhere for well over the mortgage balance.

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Asked 03/20/2008 02:50 pm CT (deltona, FL)

I own a home with a 30-year fixed mortgage at 6% purchased in 2004. Mortgage balance is $68,000. How much more principal should I be adding each month to reduce mortgage by 5 years - 10 years or 15 years?

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If you make a total mortgage payment (exclusive of taxes, insurance &/or PMI) of $475.22, you will p...

[ Total Answers: 1 ]

 
 

Asked 01/27/2008 12:18 pm CT (Towson, MD)

I have a mortgage balance of approximately $48,000 (fixed rate, 30 year, 7.625%). This mortage was assumed in 1994. I do not want to get extra cash. Would it benefit me to refinance at a lower rate?

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Your benefit would be to save money over the new term of your mortgage or reduce your term to a 15 y...

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Asked 10/31/2007 12:41 pm CT (Toronto, Ontario)

My husband and I are considering a $200,000, 25-year mortgage, 5-year term mortgage at a rate of 7.5%. Considering fixed-rate mortgage rates compounding semi-annually, what will our loan balance be after the first 5 years? Also we hope to make a $10,000 payment directly against the mortgage balance at the time of renewal, 5 years from now. How much can we reduce our mortgage payment, assuming we renewed the mortgage at the same rate and for the same remaining term of 20 years? How much money can we save overall? Thanks!

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Hi Renee Most of teh brokers on here are from the USA and they have different mortgage calculations...

[ Total Answers: 2 ]

 
 

Asked 02/08/2007 12:54 pm CT (West Palm Beach, FL)

Will have tax refund. Have Condo appraised recently: $210,000.00 Mortgage balance $143,000.00 Home Equity 9.49% balance $24,300.59 Home Equity 9.14% balance $10,472.35 Available Credit Home Equity $15,277.06 mortgage payment $1292.00 Home equity variable 9.49% payment $195.86 Interest Only. Home equity fixed 9.14% payment $311.28 Principal & interest. Should I put money to pay off Home Equity, refinance mortgage, or invest refund. Approx $5000.00

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Hi Ken, You did not indicate what the interest rate on your first mortgage is. But by my calculation...

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Asked 01/01/2007 05:19 am CT (Detroit, MI)

If I sell my home for less than the mortgage balance, can the remaining amount be rolled into the mortgage on a new home?

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Many lenders are motivated by the foreclosure issues in Michigan to be a bit more flexible then "nor...

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Asked 06/02/2006 05:56 am CT (Orange, NJ)

My mother has signed over her house deed to me about a month ago. My goal since is to get a new mortgage paying off her mortgage balance of 87K and using 30K for repairs and upgrades. The house is worth about 250K. I have no debts beside my own mortgage, a steady job and excellent credit. I am told that I cannot refinance the property for another 5 months and I must live there as well to get the best rates. What is the best way of getting a new mortgage now before the rates climb even higher.

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Pete, You need to find a broker that can do a non-owner occupied home with no seasoning on title....

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Asked 03/09/2006 10:16 am CT (manchester, NH)

I have a question that my current mortgage co. wont answer as my home is currently listed under my husband's bankruptcy but is due to be discharged by April 16th. I wanted to know if I could close my escrow account in order to pay my own taxes and insurance, the current mortgage balance is 205,000 and I have approx. 21% equity from original purchase? I would think as long as there is 20% equity it should be my choice?

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Yes and No... As odd as it may sound, most lenders will charge you to not escrow. The reason, if ...

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Asked 03/01/2006 06:35 pm CT (Greenville, SC)

I have a mortgage balance of $92679.55 at 6%. I pay a payment of $584.57 (principal & interest) each month with a extra payment the same amount. So I make 13 payments a year. I can't seem to figure out how many years it will take to pay it off. Thank you, Kim

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I would be happy to provide you with an amortization schedule. The question really is: How many ye...

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