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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?

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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?

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Asked 10/04/2009 05:52 pm CT (San Jose, CA)

My husband's condo has a 1st and 2nd mortgage and has recently gone into foreclosure (we no longer live there). The 1st mortgage company has stopped calling since they took it over, but we are still hearing from the 2nd mortgage company. What should we do to get the 2nd mortgage off our back since the property is now owned by the 1st? Also, since it's now bank owned, should we continue to pay our property taxes? What are the repercussions if we don\\\'t continue to pay them?

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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.

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

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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

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Asked 03/01/2009 10:28 am CT (Buffalo, NY)

We own two houses in New York (His & Mine prior to marriage) One is paid for with a home equity loan 45K, the other has a small mortgage 43K and a Atruim Villa in Florida four years ago for 190K - we owe 155K its on the market for only what we owe & not selling. With out my income we can't afford all our mortages, taxes and association fee's - If we walk away from Florida would the bank come after our homes in Florida that we listed as assets on the mortgage? Are we better off to stop borrowing money and allow it to fall into foreclouse or try to give deed back?

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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 01/20/2009 09:34 pm CT (Bayonne, NJ)

how to take off someone name on a mortage and title and put it on your name. when you are the one that is paying the mortage the taxes and evreything else all they did was sign for the loan now they won\'t refinance we don\'t have no authory to anything we can\'t ask the bank any question we pay for everything the person get the benefit because they sign for the loan my sisters and i can\'t get no help from the goverment to finish our school because they think my mother make to much when everything she and i make go towards the mortage and taxes and bills. the person that sign the mortage get all the benifits as a homeowner

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Asked 01/12/2009 01:34 pm CT (Griffin, GA)

Hello, I originally had my mortgage through Homebanc and then it was sold to Chase. My original mortgage payment was $1259 per month. Due to a miscalculation in taxes my mortgage payment was increased to $1457.10. Chase told me that my mortgage payment would go back down after 1 year. Unfortunately my mortgage was sold to American Home Mortgage Servicing Inc. It has been over 1 year since my payment went up so I called AHMSI to find out why my payment has not gone back down and they said I am paying the absolute minimum. Is there anything I can do to get my payment back down to what it was when I first bought the house? --Mike Sciacca

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Mike: You should have your servicer send you an analysis of your escrow account from the time the p...

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Asked 12/18/2008 04:44 pm CT (Fort Lauderdale, FL)

I received my commitment documents from the lender along with the final closing costs. One of the line items is 5 months of county taxes. I don't own the home yet, so how can they charge me county taxes? I live in Palm Beach County.

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That means that you are escrowing for your taxes. An escrow account is an account that the lender s...

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Asked 08/19/2008 08:20 am CT (Murfreesboro, TN)

On a regular 30 yr. fixed mortgage, at 6.75%, how does the lender come up with a payment of 900something (before taxes and ins.) on a $157K loan? I know I'm figuring it out wrong, but I would really like to know how it's done, so I can figure it out myself.

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Well, actually, I use a mortgage calculator. I can try to find a factor per thousand for you if you...

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Asked 07/23/2008 09:24 am CT (Converse, TX)

My ex-husband and I purchased a home.My name is on the deed as well as his. But my name is the only one on the note. I don't know where he is and I'd like to refinance the property but can not do it without his signature. What are my options? I've been paying the mortgage and taxes for the past 4 yrs with no help from him.

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Asked 05/28/2008 07:28 pm CT (memphis, TN)

will the mortgage company pay your property taxes if there behind?

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Asked 04/27/2008 11:43 am CT (Edwardsville, KS)

My mortgage has pmi insurance and the payment just went up because of insurance and taxes. I cannot afford the payments anymore even though I am current. If I default on the mortgage exactly what does the \"PMI\" do? and how much can they come back to me for?

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The PMI will refund the lender some of their losses on your foreclosed loan. Whether or not the len...

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Asked 04/17/2008 01:35 pm CT (Bellevue, NE)

my parents left their home to my daughter and i in their will. The title to the home is in my name and her name. She is 13 (a minor). How can I get a mortage or Escrow Account for taxes or anything since she is 13? Or how can I get her name off of the title to the house?

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Asked 04/01/2008 07:51 pm CT (crossville, TN)

I am a vet, honorable discharge and 58 years old. I am currently a caretaker for my mother who is 88 years old , does not require medical care- but daily physical care ( making sure she gets food prepped, a bath, transportation to dr. visits etc..) I have 8 living bro/sisters..and I get paid by them monthly of $800.00 in personal check form, along with a retirement check of $125.00 per month..I want to take advatage of my Va benefits by applying for a VA mortgage loan. I have just begun this job this past year of taking care of my mother and will file taxes at end of 08. (was taking care of her w/out financial income last yr)..can I still qualify for a VA mortgage loan? I would only need about $45,000 or less- my daughter has property (14 acres) and I want to get a small 1 bedroom log cabin kit to put up on the property..would I be allowed to do that and qualify for a mortgage loan thru the VA..my daughter said she'd sign any needed paperwork approving me to put a dwelling (no bigger than a barn on the property, they have already had a spot perked approved for me to put in a home. thanks so much for a helpful site to an old guys questions:-) Jerry

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Asked 03/18/2008 01:36 pm CT (Orlando, FL)

i refi'd last year and have taxes and insurance escrowed. I want to take over the paying the taxes and insurance and not use escrow. My lender told me i would have to refi to change it so i did not use an escrow account. Can mortgage escrow accounts be modified or not used without refi'ing again.

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Asked 03/14/2008 01:02 pm CT (devore, CA)

Who pays the property taxes on the property that was foreclosed upon?

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The new owner! If that happens to be the lender , it is their responsibility! Why are you asking? ...

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Asked 02/07/2008 01:21 pm CT (fort Lauderdale, FL)

I have a timeshare in Orlando, I fall behaind on the payments now they are demanding the$1900 in back pay plus the deed or the full amount owed of $6401. I told them that with my taxes i will be able to get up to date with the payment and continue with the monthly payment to which they refused what can I do?

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Asked 02/05/2008 12:12 pm CT (greenlawn, NY)

If I want to refi $140,000 of a house worth $375,000 at a lower rate with the same bank,what would the dollar amount of NY State taxes be? Thanks JeffB

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Jeff, You can avoid NY Mortgage tax entirely with a CEMA. What number can I reach you at today an...

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