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Asked 09/16/2009 11:52 am CT (Baltimore, MD)

SOMEONE PLEASE HELP.......My great grandparents own the home that my grandparents currenly live in. My grandparents name has never been added to the deed. My great grandparents have been dead for over 30 years now. How do my grandparents' add their name to the deed? I'm not sure if there is a will granting them sole ownership. Can they file for an executor of the estate? What can they do?

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The estate/will should say who gets the real estate – if they are mentioned in the will that they ...

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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

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

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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???

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

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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 04/14/2009 06:27 pm CT (Cincinnati, OH)

I was seperated the past 5 yrs from my ex husband after 27 yrs of marriage we own a home which I stayed in after he left 5 yrs ago we finally divorced aug 08 i didnt think I could afford to keep it and he didnt want it then he gets a g/f 20 yrs his jr decides he wants the house during the divorce for her (of course). In the decree it states he was to refinance the home he has not thus far, I let him and her move in nov 08 i moved into an apartment. he borrowed 3000.00 towards paying me my half of the equity, he still owes me money and both our names remain on the mortgage and deed.he really doesnt want the house but i do and to boot I recently found out the g/f who is living in our home has a violent criminal record and has even been in prison she is very unstable I did not know about this or I would have never agreed for her to move into the house. he doesnt want to know and shes hounding him for her name to go on the deed which cant happen because there is no way my name comes off the deed while I am still on the mortgage. I am very concerned she may go "off the deep end" yet again and do something to the house as I said her criminal record shows she is clearly unstable she has thrown our daughter out of the home and moved her 13 yr old son in. Since he failed to refinance and the house remains in both our names he cant refinance as he waited too long and now is paying spousal support to me while Im in college. my 2 questions are what rights do i have to the house? and is it possible to evict this woman before she does irrevocable damage? he wont face this wont listen doesnt want to know if he chooses to live with a convicted violent felon thats his perogitive but I do not choose to have that living in a home I still own and am responsible for.I would much rather give him the 3000.00 back he has paid me and not take anymore payments from him and take back my house ..any advce?

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Asked 04/08/2009 09:51 am CT (Des Moines, IA)

My boyfriend and I live together. He was divorced over a year ago and part of the divorce decree stated that his ex wife got there home and all the responsibilty she was supposed to remove him from everything in a certain day period. Which would have been Nov 08. Well she did not do this and now the house is being foreclosed on and she NEVER got him off any of it. So now we are getting letters and phone calls saying they will be foreclosing on the house and it is going to effect his credit. The morgage companies say that there is nothing they can do even though the divorce says it is all her responsibilty. The lawyer we talked to said that the only thing they can do is get her arrested on contempt of court? This does not seem right is there any help!! We plan to have a life together and I do not want this hanging over our heads for the next 7 years =(

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Unfortunately the lender on the house was never invited to the divorce. The divorce was only an agre...

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Asked 03/13/2009 02:11 pm CT (Hillsboro, OR)

My husband and I recently refinanced our home and it is in both of our names. If we were to divorce and I were to go to school full time in a different state, how would we go about splitting the cost of the home? With the market being so bad, I doubt we could sell it for what we owe since we consolidated our debt with the refi. Would it be more realistic and financially wise if we were to remain married but live apart? We both are willing to do what is financially best. What are the options that would be fair to both of us?

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Asked 02/25/2009 06:47 pm CT (Orlando, FL)

If my name is on my homes deed but not on the loan but I pay the mortgage and the taxes can I claim the property taxes, and real-estate taxes on my taxes

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Consult your tax advisor. However, I have personal experience w/ the same situation where I claim t...

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Asked 02/20/2009 04:53 pm CT (Spokane, WA)

I live in Pullman, WA. I am married and we have a joint mortgage loan. I would like to take out either a home equity loan (preferably) or a personal loan individually because the credit card debt we have is mine, not my husband's. Since Washington is a community peoperty state, would he have to be on the home equity loan or can I take it out alone?

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You can take out the Home Equity loan yourself, based exclusinvely on your credit and income. Howev...

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Asked 01/23/2009 11:28 am CT (New York, NY)

my husband and i own (purchased together 10 years ago) property in upstate new york. his only is listed on the deed (the mortgage is paid). he passed away on thanksgiving - how would i be able to sell or how do i get my name on the deed. i am his sole beneficiary.

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Consult an attorney or ask the county recorder's office what they require to record a new deed....

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Asked 01/10/2009 11:18 pm CT (Milwaukee, WI)

Hello... Just a quick question. OK... I have a refi in progress, and we should close by the last week of Jan. I learned that I am going to lose my job (closing our plant) on Jan 31. I am getting a nice severence, and still have a nice nest egg saved up in case of problems (2-3 years), so I'm not too worried about foreclosure. (If anything, a refi will help me to pay it off faster, as I would be paying less...) Do I need to disclose this at the closing, or to my loan officer? Or, since I'm technically still employed at the time of closing - can it be my little secret? Basically, is withholding this information considered fraud, or does the fact that I am truthful in all my statements (regarding CURRENT employer) mean I should be in the clear? I obviously don't want to do anything that will jeopardize my house.

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You would need to disclose that at closing. There will be a document that you will need to sign tha...

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Asked 01/10/2009 09:08 am CT (San Francisco, CA)

We received an NAPF U.S. Loan Notification telling us that we were pre-approved for a 30 year fixed loan at 4.75%/5.00% APR. This is for a loan of up to $287,670. It states that it is not an ARM which, we would never consider. I've never heard of any such program and wanted to know if this is legitimate.

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It sounds as though you are being quoted a Conforming 30 yr Fixed Rate home loan and just about ever...

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Asked 01/05/2009 11:15 am CT (Anaheim, CA)

Hello, my fiance and I are saving up to buy a home and I have concerns regarding my credit score. His credit score is in the mid 800s and my Equifax credit report is 652, Experian credit report is 682 and my TransUnion credit report is 682. His aunt is in the real estate industry and she said that due to my credit it is best to NOT have me on the loan. What gives? Is my score really bad? Should we just get the loan with him alone or should we not listen to the aunt?

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Your credit score may not give you the best pricing or make available a few Lending Products that ar...

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Asked 01/05/2009 11:15 am CT (Anaheim, CA)

Hello, my fiance and I are saving up to buy a home and I have concerns regarding my credit score. His credit score is in the mid 800s and my Equifax credit report is 652, Experian credit report is 682 and my TransUnion credit report is 682. His aunt is in the real estate industry and she said that due to my credit it is best to NOT have me on the loan. What gives? Is my score really bad? Should we just get the loan with him alone or should we not listen to the aunt?

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Ashley, The best loan available with the least amount for down payment and credit scores as low ...

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Asked 01/05/2009 11:14 am CT (Anaheim, CA)

Hello, my fiance and I are saving up to buy a home and I have concerns regarding my credit score. His credit score is in the mid 800s and my Equifax credit report is 652, Experian credit report is 682 and my TransUnion credit report is 682. His aunt is in the real estate industry and she said that due to my credit it is best to NOT have me on the loan. What gives? Is my score really bad? Should we just get the loan with him alone or should we not listen to the aunt?

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If you can qualify without, it's to your benefit to not be on the mortgage. Should anything happen ...

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Asked 12/16/2008 06:18 pm CT (Albany, NY)

I purchased a home at a real estate auction with a 10% buyers premium. My bid price was $80,000 making the total purchase price $88,000 with the 10% buyers premium. I had to give a deposit of $5000 the day of the auction (earnest money). Now I am approved for a loan with a commitment letter but the bank will only finance the bid price of $80,000 instead of $83,000 which I owe the seller. They also want an addendum to the sales contract to state the total purchase price is $80,000 instead of $88,000. They say the buyers premium is a cost to the borrower. Most real estate auctions have a buyers premium. Is this right what this bank is doing, do most banks include the buyers premium for total purchase price like my contract is written?

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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 10/29/2008 10:56 pm CT (New Orleans, LA)

Hi! I am new to the whole mortage game.. My Husband And I are trying to purchase our first home. We are very low income, however we have the ability to put down at least $20,000. He has had steady employment history for the past 2 years but he has ABSOLUTELY No credit history. I have gathered four sources of alternative payment history for a 12mo. period with no late fees (entergy bill, car insurance, phone, and a hospital insurance policy on our oldest son) I was employed with the same company for over two years but have been unemployed since I left the clinic I worked in to stay at home with our premature newborn..whom is now 8 mo.'s old. I have credit, however it is very low at this time due to the last statement mentioned. I am in the process of paying all my debts off. My mid score is 520 at the time :( We applied for an FHA Loan and an Urban Development but we where turned down due to my husbands change in employment (although it was for the better monetary wise) and for no savings are proof of alternative payment. My Husbands monthly income is $1920.00. Our only monthly bill is 250 for car insurance and 263.15 for 7 more months for our eldest sons tuition. The home we are trying to purchase is $129,900.00 with seller to pay $4,000.00 in closing costs. ANY advice etc. would be greatly appreciated.

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Lauren, it is possible to to be approved for a loan if you have no credit. The situation has to be t...

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Asked 10/29/2008 10:11 pm CT (Sacramento, CA)

I want to buy a home that is being sold as a bank owened property.. it is through a realestate co. I am in the process of trying to sell my first house but this is a short sale on the other ... I dont have money for a down before sale and they wont do a contingant. could I get a second morgage to cover it? we owe 141,000. ( worth 160,000-180,000) on my home now, the other home is only 92,000. we could afford both morgages untill the sell of first but like I said no money for that down... and how to get anouther loan still oweing on first. what are my best options??

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Hi Crystal, It appears by how you describe your situation that you may think about receiving a Gift...

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Asked 08/19/2008 03:29 pm CT (Jackson, MS)

My late husband bought a mobile home in 1998. I was not listed on the mortgage nor did I sign anything with regard to the purchase of this home. There was no land or any other type of collateral put up against this home. He died in 2004 and shortly after I moved from the mobile home. The mortgage company repossessed the home and sold it at auction. Now they want the estate of my deceased husband to pay the remaining balance (2 years after they sold it). My husband did not have a will. Can they hold me responsible for this money?

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