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Financing -- Loans/Questions Answered by Expert Meg Ritchey
| Subject | Date Asked |
| refinancing | 9/8/2010 |
| Q: 375% 30-yr fixed (7 years in); we owe $177,000 (original mortgage for 242,000), taxes are under $6k. ... A: I love these scenarios. Honestly, you are really in a good situation to make positive changes in ... | |
| loans | 7/23/2010 |
| Q: Can a loan company legally come to your place of employment 2x a week untl you pay them? A: I am not an attorney and this is a legal question. I would suggest that you speak with an attorney ... | |
| Car loan question | 5/10/2010 |
| Q: My husband and I have a 2006 Dodge Stratus and we owe 11,000 due to a high interest of 16% (this was ... A: Do you know what your current car is worth? I would look up Kelley Blue Book or NADA pricing for ... | |
| presettlement funding loan | 4/27/2010 |
| Q: i have a presettlement funding loan for a court case and the other party's name was completely ... A: The answer to your first question is perhaps. To say clearly again -- I am not an attorney and this ... | |
| presettlement funding loan | 4/27/2010 |
| Q: i have a presettlement funding loan for a court case and the other party's name was completely ... A: It seems to me that you have two separate issues. Whoever applied and was approved for the loan, ... | |
| presettlement funding loan | 4/23/2010 |
| Q: i have a presettlement funding loan for a court case and the other party's name was completely ... A: I know that it may seem odd, but there are varying degrees as to incorrect names and the remedy will ... | |
| Having my son understand importance of Education/Business | 3/19/2010 |
| Q: I'm trying to have my son understand the importance of an education and wanting to start his own ... A: I apologize for the delay in responding to your question. I have been pondering your question for a ... | |
| car loan - insurance | 3/7/2010 |
| Q: my son bought a truck in virginia and financed through credit union. He purchased insurance on it. ... A: I would like to start by thanking your family and your son for his service to our country. I have ... | |
| fha loans and farm income | 1/28/2010 |
| Q: Is farm income allowed with a FHA refinance transaction? A: FHA guidelines prohibit loans on income producing property. So, if you are trying to refinance a ... | |
| lower payments thru refinancing | 12/18/2009 |
| Q: I am trying to find a way to lower my payments without refinancing to another 30 years since there ... A: That is a trickier question. Different states have different laws regarding ownership of property ... | |
| Purchasing a hobby farm. | 12/18/2009 |
| Q: We hve been going through the purchase of our home since July. The Broker continues to tell us one ... A: You are in a tough situation. I don't know why you were encouraged to invest money in a property ... | |
| lower payments thru refinancing | 11/5/2009 |
| Q: I am trying to find a way to lower my payments without refinancing to another 30 years since there ... A: There are a couple of things which you can do to lower your payments. You can recast your mortgage ... | |
| FHA and farm income | 10/26/2009 |
| Q: We are trying to refinance our 14+ acre hobby farm. I'm medical/retired (39 years auto sales) wife ... A: I don't normally get the opportunity to speak with people who discover me on this site. It was a ... | |
| refinancing qualifications | 9/27/2009 |
| Q: Myhusband and i bought our condo in 2007. we have a 5yr adjustable at 5.85%. we pay both priciple ... A: I understand your frustration. This is a common malaise in this restricted environment for mortgage ... | |
| usda vs. FHA | 9/23/2009 |
| Q: What is the advantage of a USDA loan over an FHA loan? Are there any downsides? Thanks. A: I am a big fan of both USDA/Guaranteed Rural Housing and FHA programs. I use them both as much as ... | |
| Land loan | 9/2/2009 |
| Q: I bought and built a home on 2 acres of land.My wife and I have a USDA loan on my new ... A: There are several areas of interest with regards to structuring the purchase of the new property. 1. ... | |
| Loan | 3/3/2009 |
| Q: My wife and I are buying a house contract for deed or a land contract. There is a balloon payment ... A: What it reads like you are proposing is the refinance of a land contract--which is done all the ... | |
Answers by Expert:
Meg Ritchey
Top Expert on this page
Expertise
I can answer questions regarding approval and qualification requirements for FHA, VA, USDA and conventional,(FNMA/FHLMC) residential mortgage loans. I also can answer questions regarding credit scores and rebuilding credit. I cannot answer questions regarding Fed., State or local taxes or tax implications of mortgage financing. I also cannot answer those questions which require special licensing for financial investment in depository accounts, stock accounts or insurance products. Similarly, I cannot answer any real estate questions which require a specific license.
Experience
I am a Loan Production Coordinator. I have 15 years experience as a Residential Mortgage Loan Officer. I have successfully assisted more than 1000 people finance home purchases. I specialize in assisting people to buy their first homes. I also enjoy working with those who have experienced some kind of catastrophic event, like loss of job, bankruptcy, foreclosure, death of spouse, catastrophic health issues or divorce and who want to work to strategically position themselves for mortgage loan approval.
Organizations
I have periodically volunteered for community groups/events including those involving issues of affordable housing, battered womens outreach, rape crisis intervention and have worked on various boards for nonprofit womens organizations. I also have developed a network of professional contacts within key organizations for referring people who come to me with issues regarding foreclosure, loan modification, bankruptcy resources, credit repair, support for elderly/house bound, estate, tax and divorce advocacy.
Education/Credentials
B.A., The Ohio State University
Past/Present Clients
Strictly confidential.
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