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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?

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

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Asked 09/18/2009 12:05 am CT (Los Angeles, CA)

I have filed chapter 7 and should receive a discharge soon. I included as surrender all three mortgages. My first mortgage lender has offered me a modification to sign now before the discharge, not reaffirmation just signing new modification. If the house was to foreclosure, there is not enough money to pay the second or third liens. Am I legally obligated to pay the first mortgage if I sign this modification and lets say the 2nd decides to foreclose would I have to pay any money to the first? I dont plan on paying the second or third mortgages.

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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

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Asked 05/22/2009 10:00 am CT (Waukesha, WI)

Hi, I have lost 2 offers to purchase on my home. My ex-husband refuses to sign anything below $440,000. We have been trying to sell for over a year. My question is what are my legal avenues? I am not able to maintain living in the marital home, it is too expensive and I am going to be broke in a very short while. The divorce papers state we must sell the home by the way. Thank you for any guidance.

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T.M. Mortgage professionals in general will not be able to provide legal advice. It would be best ...

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Asked 04/08/2009 11:16 am CT (Minneapolis, MN)

I need some help! I bought a condo in 06 with an ARM thinking I could refinace to a fixed rate to get a lower payment before it goes up again but Countrywide (who bought my loan) says since my apprasial is less than I paid for the condo there is nothing no one can do to help me and it is what it is. they did offer a modification of $4 a month for an ARM loan. I have a car payment/credit card payments and 2 jobs. Can anyone help me?

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My advice would be to contact Bank of America since they now own Countrywide. They may be able to d...

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Asked 03/02/2009 07:03 am CT (Atlanta, GA)

I own a home that I paid about 530K for about a year and a half ago. It is 100% financed. I would absolutely love to refinance and get the rates being offered today but based on some comps in my neighborhood I am looking at being upside down in my mortgage by about $60-$80K. Plus I imagine 100% financing has kind of gone away. Is there anything I can do to refinance and not have to bring $100K to the closing table? Or am I just completely up the proverbial creek with no paddle?

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Asked 01/08/2009 07:06 pm CT (New York, NY)

Three-four years ago my mother deeded to my father and then my father to me through an irrevocable trust with my mother as the lifetime beneficiary. My mother has Alzheimer's and was in need of homecare services. The house now needs repairs and I am attempting to get a home equity loan for the trust. I understand that it is not sound to have a new deed as we would lose the benefits of the trust. I live in the home with my mom. The property is mortgage free. My credit score is 647. I had 4 judgments and a tax lien - all of which have paid over the past 4 years. I need about $30,000 but understand that many banks would not offer such a small amount. Any ideas, please.

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Asked 12/22/2008 08:50 pm CT (Atlanta, GA)

NEED INFORMATION ON OPTIONS FOR PAST DUE 2ND MORTGAGE. I HAVE 2 MORTGAGES MY FIRST MORTGAGE I DID A MODIFICATION ON IT AND I AM CURRENT ON IT. MY SECOND MORTGAGE COMPANY DID NOT OFFER ANY RELEIF OR LOAN MODIFICATION PROGRAMS. I AM NOT ABLE TO REPAY THE PAST DUE BALANCES TO BRING IT CURRENT. THEY HAVE SENT THE ACCOUNT TO AN ATTORNEY. DO I HAVE ANY OPTIONS?

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Asked 11/28/2008 10:44 am CT (Houston, TX)

I would like to know if it is worth refinancing the mortgage on my house. We cuurently owe about $265000 on a house worth around $700000. Our current loan is at 5.625% on a 30 year fixed and we have been in our house about 5 years. We plan to stay in this house for many many years. I have been looking into rates and was offered a 5.00% mortgage on a 15 year fixed loan with 1/2 point to buy this rate. We can afford the extra payment, but is it worth it? Since I currenly pay about 4 to 5 hundred extra toward the principal each month on my current loan. Or w

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If you refinance to a 15 year loan your payment will increase about $493 per month. If on your curre...

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Asked 06/05/2008 04:46 pm CT (aurora, IL)

My husband and I are first time home buyers. His score is 680 and mine is 585 will we still be able to get a home and a decision rate? What downpayment assistance programs are offered for first time home buyers?

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Hello Kim, Even though your score is a little low you can still qualify for a mortgage. Your bes...

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Asked 04/16/2008 12:55 pm CT (birmingham, AL)

I have a home and I owe 103K, the homes in my area are now selling for 80K, Its been up for sale for almost a year with no offers. so I am going to have to do a deed in lue or do a short sale. Which is worst on your credit rating?

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Asked 04/04/2008 07:08 pm CT (Stafford, VA)

I'm interested in purchasing a foreclosed home. Countrywide is requiring that I get prequalified through them in order to make an offer on the home. Would this not tell Countrywide what I'm able to afford, and effectively strengthen their negotiation position by alerting them to my mortgage ceiling? Is this legal to require me to get preapproved through a particular company for the right to make an offer ona home? This just doesn't seem right. Any and all assistance would be greatly appreciated!

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It's not likely illegal since they aren't requiring that you take their loan. Instead, they're likel...

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Asked 04/01/2008 09:18 am CT (Milwaukee, WI)

I want to turn my mortgage and title over to my mom because I got a better job offer in South Carolina and I do not want to worry about property in another state. How do I proceed with this?

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Mo, the way to do this is refinancing the property or selling the property to her.If you provide me ...

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Asked 03/20/2008 08:36 am CT (Elkhart, IN)

My exhusband passed away in Feb. Prior to that he quitclaimed his house to me. (It is recorded at the county). His daughter from a prior relationship-there is question she is even his real daughter-came to me offering to claim the house so that I would not have to pay inheritance tax. I told her no, and am proceeding with filing the return. My question is, can she put a claim against the house?? If so, would she have to prove she is his daughter. There is also a vehicle she wants of his.

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Asked 03/19/2008 01:03 pm CT (selkirk, Manitoba)

Me and my ex purchased a house in july 1995 for 65000., he moved out in jan 1996 and left me with the house. in dec 2000 i had to move cuz i couldnt afford the house anymore, i gave up the house voluntarily, the bank took it over and sold it for 59000., now ever since then i have a collection agency after me saying i still owe like 23,000. but i still dont understand where the money of 5 years that i paid went to? i figure i paid like 40,000. where did that money go? also they say my opening balance was 73,000 how could it go up? i have a paper from 1998 saying my balance was 63000. I just don understand whats going on. and they got me to send them a financial statement and stat declaration so i did and made them an offer of 2000., they come back saying that i had to options 1-pay the 2000. one lump sum or 2- if i had to make payments i had to pay 4000., i dont know what to do. im a single mother with 4 children. any advice how i can find out what to do, im willing to pay the 2000. but only by payments cuz i dont have money. is bankruptcy a good idea? thats how my ex got his name off there. please let me know asap cuz their calling me and stressing me out threatening to garnish my wages.

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http://fair-debt-collection.com/

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Asked 03/18/2008 06:10 am CT (Houston, TX)

My wife and I are attempting to sell our home in Dallas Texas. We received an offer but we will be paying $16,000 for closing and fees and we would like to purchase another house in the next 4 to 6 months and we do not have the total amount for closing and fees. What would be the best way to secure the closig on our house but still be able to purchase a new house within our timeframe without getting a bridged loan?

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Asked 03/12/2008 06:43 am CT (Washington, DC)

I am relocating, and my employer is paying my relocation expenses. My empl9oyer utilizes a Third Party Relocation Company who provides a Guaranteed Home Sale Offer. I have learned that the Third Party Relocation Company does not pay off the mortgage, but assumes or services my loan until the home is sold by them. Does this impact my Credit Score, or my ability to obtain another mortgage?

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Asked 03/12/2008 06:41 am CT (Washington, DC)

I am relocating, and my employer is paying my relocation expenses. My empl9oyer utilizes a Third Party Relocation Company who provides a Guaranteed Home Sale Offer. I have learned that the Third Party Relocation Company does not pay off the mortgage, but assumes or services my loan until the home is sold by them. Does this impact my Credit Score, or my ability to obtain another mortgage?

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Asked 02/22/2008 11:43 pm CT (Hesperia, CA)

What can you tell me about a company called APF/OV from San Diego, CA. Offering something called the NAPF Program for homeowners to lower their mortgage rates starting at 3.4% fixed. I cannot find out anything about them.

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Dear K, Other consumers have recently asked questions on this website about this company and loan. ...

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Asked 02/21/2008 08:41 pm CT (Oakland, CA)

Your site has received a number of inquiries regarding offers from "APF/OV" at various addresses in San Diego. I have also received an offer/proposal from this company (?), which I have not been able to trace on the internet. Please provide any information you have concerning APF/OV. Also, is this one of the companies being investigated by the FBI? Thank you very much.

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