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: "Working"

Pages:  1 
 
 2 
 
 
 

Asked 03/13/2009 08:29 am CT (Waldorf, MD)

Krista, How familiar are you with New American Funding? I am currently working with Lloyd Kerr at New American Funding on a possible Loan modification via a FHA loan and would like your feedback. Thanks!

Keywords:
      

I am not sure if this was meant for me, but I am not familiar with New American Funding. Our compan...

[ Total Answers: 1 ]

 
 

Asked 01/13/2009 09:15 am CT (Cleveland, OH)

I am in the process of buying a house from someone who started to gut and remodel. The kitchen cabinets and sink have been removed and the main bathroom has been gutted. The owner bought from the bank and was just going to fix up and sell. I want to buy before he fixes up so I can save money and repair as needed. The loan officer I spoke to told me that the kitchen and bathroom have to be in working condition and the house has to be liveable before I could get a loan. I would be buying the house as-is. Is there any truth that these would have to be fixed before I could get a loan? And I would be living at home until the bathroom and kitchen would be remodeled. Can you give me some direction or if I should choose another lender?

Keywords:
                    

 
 

Asked 01/02/2009 12:45 pm CT (Annapolis, MD)

My son's wife moved out of their house a few months ago. She took care of all bill payments. Now he finds out that she did not make the second mortgage payment for a very long time and they will no longer accept a monthly payment. He is working two jobs just to pay the monthly bills and has two children with him. He tried to draw out his 401K to pay on the second mortgage but was not able to get more than $1200 from the fund. His first mortgage is fine. What can he do about this situation? Can the second mortage company foreclose on his house? Thank you for your reply.

Keywords:
                                        

Yes, the 2nd mortgage lender can foreclose. However, the property would have to sell for a sufficie...

[ Total Answers: 1 ]

 
 

Asked 01/02/2009 12:27 pm CT (Annapolis, MD)

My son's wife recently moved out of his house. She was the person making the bill payments each month. Now he finds out that she has not made a payment on the second mortgage for some time. The second mortgage company wants the entire $22,000 and will no longer accept monthly payments. He has two children and is working two jobs just to pay the monthly bills. He tried to cash in his 401K but was told that he can only receive $1200 a year and not the $11,000 in the retirement fund. What should he do? Can the second mortgage company foreclose on his house? Thank you for your reply.

Keywords:
                                  

The second mortgage company should be willing to negotiate with the way the market is going. Negoti...

[ Total Answers: 1 ]

 
 

Asked 01/01/2009 09:55 pm CT (Kansas City, MO)

Currently the mortgage is in my name. Since I am not working can my wife refinance only under her name? She is on the title but I was the one that took out a loan. Is it possible to have my wife to refinance the house under her name only?

Keywords:
              

Yes it is possible if she is currently on title and you can show vested interest for her in the prop...

[ Total Answers: 1 ]

 
 

Asked 10/07/2008 07:42 am CT (St. Petersburg, FL)

Me and my fiancee are in a bit of a mess. He is not working as much right now due to not enough work going on so the only income is mine which is not enough. Our 2 yr fix rate will be up April 2009 so getting very scared. We are having a hard time getting people to help us either refinance or anything. We talked to our mortgage company and they seem hopeless. We owe more on our house then what is worth. Is there anywhere we can go that can help us? Pretty much have given up.

Keywords:
                

Celeste - you still have time on the 2 year ARM, so don't get discouraged yet. Are you at least abl...

[ Total Answers: 1 ]

 
 

Asked 05/20/2008 07:00 am CT (Phla., Alberta)

Is a co-signer responsible for a VA mortgage? My daughter and her husband are divorced. He lives in the house. He is the veteran. They got a VA loan, she co-signed, but she was not working at the time. The mortgage has not been paid, he is not doing anything about it. What can she do.

Keywords:
                  

 
 

Asked 05/03/2008 01:11 am CT (Hardeeville, SC)

we used to have a very good loan discount on our mortgage at the bank where she used to work.I am on disability and over the past 4-5 yrs. have been renovating our home.I have almost doubled its value.However my wife has a health condition since birth called syringual mieliea.her condition took a turn for the worse and she had to stop working.thus we have lost our discount mortgage rate and her long and short term disability benefits have been denied.we have retained an attorney but have only limited savings from a cashed out 401 K.are there any programs available other than bankruptcy that we could qualify for so that we could get a reduced rate on our mortgage even though we are not employed.we would like to avoid being a further burden on the state as well as keep our modest little home that we have put so much hard work into. please help. thank you, Tim and Denise Norris

Keywords:
                      

 
 

Asked 04/26/2008 03:54 pm CT (east grand forks, MN)

i'm in foreclosure. single mom of three. i've tried quick sale,everything, working with the lender. i'm four months behind. can i sign my deed over to my friend and file bankruptcy on my loan and put the place up for sale... which is going to take a long time..... rural area... takes forever to sell..i'm also in flood zone by river. i don't know what to do? lost!

Keywords:
                  

Signing the deed over & declaring bankruptcy will not extinguish the lien on the property.. The bank...

[ Total Answers: 1 ]

 
 

Asked 04/14/2008 09:24 am CT (Concord, NC)

My husband and I recently tried to refinance, after having a bad experience with another mortgage company who promised to help us with a refinance after we accepted an 8.5% arm to help clean up our credit. After the six months, we returned to the mortgage company to start the refinance process which was to be free of charge the second time around. (this was a big joke) The company would never return our calls to start the new refinance. I went online and got a copy of our credit reports and my husbanand I had a score of 650-700 depending on the reporting agency. This was a great improvement from where we were when we did the original refinance 6 months prior. We did some research online and decided to try for a FHA loan. Everything seemed to be running on course. We had an appraisel done and the house came in way above it's value. The company that we were working with told us that they would not order the appraisel, if they were not confident that they could get the loan approved. I am self-employed and my husband works for a company. They had no problems sending out loan paperwork with a 7% interest rate and PMI. We refused the loan and explained that we were not desperate to refinance. They came back and with new loan documents with a 6.7% interest rate and a one time PMI fee, but had tacked on various other points that made the closng cost $10,000. They have since contacted us and told us that they cannot do the loan because my husbands credit score is too low and his dept ratio is too high. I understand this but I think they should have made this decision before we paid for the $350 appraisel. Since I have had a profit loss in my business, they could not consider my credit score or income. Are there any loans that I can look into as a self-employed person.

Keywords:
                                                        

It's a typical scenaro for self-employed individuals to have difficulty documenting their income. Th...

[ Total Answers: 1 ]

 
 

Asked 02/24/2008 05:25 am CT (Thomasville, GA)

I have tried, unsuccessfully, to find someone to refinance my 2001 Homestead 16x80 mobile home. It is financed through Greentree with a variable interest rate (presently 14.625). Greentree will not refinance nor will they consider financing for anyone wanting to purchase this home. I tried to sell it but found that, due to the amount owed on it (roughly $27,000)it makes more sense to buy a new home than to buy this one. I have a good tenant living in it who wants to buy it herself but her credit is poor. I have a chapter 7 bankruptcy which was discharged in November 2005. My fico scores are right under 600. I am desperate to find someone to refinance this home on a fixed interest rate so that the payment will be more affordable and predictable. The current payment is $374.89 and she must also pay $150.00 lot rent. If the payment continues to rise, I will lose my tenant. No one seems willing to take a chance on refinancing for me although I have a good job I have been working for 6 years, with a decent salary (appx. $35,000/yr). I just got a promotion and will be moving in the next week or so to start my new job. I would love to get this mobile home refinanced (or financed for my tenant) before I go. Does anyone know of a mortgage company who would refinance for me?

Keywords:
                                              

Ask your neighbors. Find out which lenders are financing all the other mobile homes and then approac...

[ Total Answers: 1 ]

 
 

Asked 02/21/2008 04:15 pm CT (RENTON, WA)

I have been seperated from my wife for 2 years. She is living in the house. When we refinanced 3 years ago the loan was only in my name. Her parents had been making the mortgage payments for her. To help make things easier I signed a quit claim deed to my wife and then she in turned did the same to her parents so they could refiance the property to lower the payments. After 9 months they still hadn't refied. They also always late with the mortgage but kept telling me they were working on it. Now the mortgage is 3 months late and they are now my inlaws and wife are going to let it go into foreclosure. Now I am scrambling because one the mortgage company says I'm responsible for the loan but now my credit is ruined and they also informed me that we did not have their permission to do the quit claiming. However county records are showing my inlaws. I do understand that I am responsible for the loan. What is the resonsiblity of my inlaws? When they did they were aware of an IRS tax lien and a unpaid sewer lien. Are they liable at all? What course can I take here? I'm scrambling to try to sell it but I haven't had any luck. Thanks Tom

Keywords:
                                          

Tom, I am sorry to hear about your troubles. Your situation is very complex, and my best advice is...

[ Total Answers: 1 ]

 
 

Asked 02/06/2008 10:47 am CT (San Diego, CA)

Mortgage Company is refusing payment to steal old lady’s house Hello, My 83 year old Grandmother owns a 450,000 house. About 9 months ago she refinanced it for 187,000. She pays 780.00 a month on the mortgage. She let it go for 3 months and now owes 2500 in back payments. I started to pay it off last month by sending them $1000.00. They said that it was ok for me to pay them last month, but this month they are refusing payment. I now have the money to pay off the entire amount that is due, but they are still refusing payment. They made it difficult for me to help my grandmother with this: She had to call them many times and we sent in signed documents to get them to talk to me and allow me to make payment arrangements. Now they are going back on it. Due to their lies and behavior, I feel that they want the house and not the money. What can I do to force them to accept the money that would bring her current, rather then let them foreclose and get a 450,000 house for 187,000? I don’t really have the money for a layer, but I do have a very strong sense of justice, enough to keep working on this 24/7 until it is resolved. Thanks much for any info

Keywords:
                                  

It sounds as if you have done everything right. I am surprised that if you negotiated payment plan,...

[ Total Answers: 1 ]

 
 

Asked 01/13/2008 08:36 pm CT (Centerville, OH)

My husband will hopefully be attending medical school this coming Fall in Oklahoma. We will both be students and neither of us will be working. Our only income will be student loans / financial aid. We would like to buy a house but are unsure whether or not we can even get approved. We will not have a cosigner. Do you have any advise or input on our situation?

Keywords:
                

 
 

Asked 11/30/2007 10:53 pm CT (pittsburgh, MI)

My wife and I are currently looking to close on loan quickly. We will be relocationg to a different city and the property we are purchasing is located there. However, in order to close on the loan quickly (as we are in a hurry to close), the broker told us that he would file it as a second home and not a primary place of residence so that we would not have to do a job verification at the new place. We both have jobs that are currently in negotations at the new location, although we do not have our official contracts yet, but this definitely will not a problem as we will be receiving the final contracts within the next month or so. The broker thought this would slow down the loan process or may not be able to close on time if the lender/bank may require this employment verification letter. And since we need to close on a tight schedule, he wanted to make sure we could close the loan on time. Although we will be working and also have ample funds to pay for the loan regardless if we didn\\\'t work for a month, I\\\'m a little worried about this since this home will be our primary place of residence. The broker told us that after the loan is closed, we could just let the bank know that we had decided to make it our primary place of residence and there would not be any problems. Is this true? Is this something we need to be concerned with? What problems could potentially arise in this situation? We would appreciate any thoughts or words of wisdom.

Keywords:
                            

Hi there, If the home is going to be your primary residence, then your application should state t...

[ Total Answers: 1 ]

 
 

Asked 11/29/2007 10:32 am CT (Livonia, MI)

I have a 3-yr interest-only ARM on a condo ending in 5/08, and will need to refi. Problem is, I also have *a lot* of revolving credit debt. I'm really worried about what my refi'd payment will be on a 30-hr fixed. I have been working to pay off the credit debt, but would it be better to send the extra cash towards the mortgage, or continue to try and lower credit debt, even if its just reducing by a small amount? Or is there something else I should be doing? Any guidance is greatly appreciated!

Keywords:
                        

Hi Sue, Definitely pay down your credit cards. I wouldn't send one cent extra to the mortgage co...

[ Total Answers: 2 ]

 
 

Asked 11/12/2007 07:42 pm CT (Sulphur, LA)

My Husband And I signed over the deed to our home July 16th 2007 because the Mortgage had become too much for us to keep up with. We were behind on a few payments and were trying to sell our house by owner and even with the help of a real estate agent. .After a few months of trying we decided to contact an investor who said if we signed an assumption of deed over to him, he would make the payments until he could find someone to purchase it. Well, he did find someone to do an owner finance for at a year..they paid him a generous down payment and then monthly payments as well. Since we were behind the investor had to work out a repayment plan with our lender. this was spread out over a years time,and is still reporting late on our credit...further damaging it and we are still responsible for the note even though we signed over the deed. I talked with him about selling the property now so we could be off the loan, but the agreement he signed with the people now living in our house says they must wait a year to obtain financing. The reason for this is we have equity in our home and will have even more when the pre-payment penalty drops off next year. he is stands to make at least$30,000 off our home and we walked away with nothing. He has not made one payment on time in the last few months and the Mortgage company keeps calling us. I called the people living in the home and discussed the arrangement they have w/the investor. He has mislead them in many ways and us! they were not aware that we were still on the loan! Now I am wondering what my legal rights are in reassuming my home or even working out something with the new tenants to sell outright to them at a lesser amount. Do we have any rights? Our credit is not in great shape because of late payments, A discharged Ch.7, medical bills( all three of our children had tonsils out), I have not worked for the past few years, etc. BUT I am now working again and our Monthly net income together is $5800. Could someone please help us to repair our damaged credit and possibly gain control of our home again so we can make a profit from it and further improve our credit. Jen

Keywords:
                                                                  

 
 

Asked 08/08/2007 01:52 pm CT (Dayton, OH)

My husband & I are trying to purchase our first home and the mortgage co we are working with has turned our packet over to 3 loan companies. The first company denied us & now the second comany is stating that because my husband was late 3 times last year with a credit card payment. (we are in a chpt 13 and obtained permission from the court to get a home loan). At this point we can not prove that the late payments were the credit card company fault. Which by all means I know it was my husbands fault. But the 3rd company that our packet was sent to is "Burmingham Mortgage"? I found a webste for them stating that they provide loans for not so good credit. My questions is, have you ever heard of this mortgage company & is there anyone that can actually get me into my dream home?

Keywords:
                                  

 
 

Asked 08/06/2007 08:41 am CT (San Antonio, TX)

I bought a house in Dec. with my boyfriend but they only put my name on the morgage since his credit was so bad and when we split up he left and left me to pay for everything knowing that I couldnt handle it by myself. So I got renters in there to help out and I moved back to Austin. This seemed to be working fine but now they are already behind on a payment and I went over there to pick up some stuff since im still in the moving process and they are quickly destroying the house. The carpet is already ruined, they smoke inside, the garage smells like something died in it and the lawn is becoming over grown. I tell them to address these issues and they say they will but they do not. I really just want to get out from under the house and start over but if they are ruining the value of the house faster than it can increase. I could sure use some advice.

Keywords:
                

 
 

Asked 07/16/2007 02:39 pm CT (Mt. Vernon, IL)

My husband and I are planning to relocate from Illinois to Indiana in about 1 year. We are both currently working and will have to quit our jobs prior to moving. We will secure employment in Indiana before we make the move. However, we will probably not be working before we plan to close on the new property. How will this effect closing. Doesn't the lender want to see proof of employment clear up to the closing date or pretty close to it? How can this work out for us during the transition of being unemployed? Thanks for your attention.

Keywords:
              

Hi Pam, First off, congratulations on the upcoming move and change in employment. I hope this mo...

[ Total Answers: 1 ]



Pages:  1 
 
 2