| Subject | Date Asked | Expert |
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| Timeshare mortgage | 7/23/2008 | Jacqueline Kounkel |
Q: We were purchasing a timeshare, and my fiancee' lost his job. We we unable to continue making the ...
A: I can not answer the legal reporting question that you have asked. I would refer to a Real Estate ...
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| WANT TO REFINANCE SECOND HOME (CONDO) | 7/23/2008 | Heather Schneider-Rivero |
Q: I have a second home which is a condo in Tallahassee, Fl The loan will adjust next June. I want to ...
A: unfortunatley you will not be able to refinance a second home on an FHA loan, they are for primary ...
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| How to pay off mortgage at closing | 7/22/2008 | Jacqueline Kounkel |
Q: We have to relocate to another state and we would like to buy when we get there. Our home has been ...
A: I am certainly not a real estate attorney, so that may be someone that you want to look up on here. ...
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| 80/20 mortgage | 7/21/2008 | Heather Schneider-Rivero |
Q: I have a property that I bought in CO (with an 80/20 mortgage) 5 years ago and lived in until August ...
A: . this is a complicated question as it varies from bank to bank... you will need to call the bank ...
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| Assumption Loan vs. Home Purchase Loan (new) | 7/21/2008 | Brian Beardsley |
Q: My father-in-law is offering to sell my husband and I one of his properties, as he needs to pay off ...
A: .. The mortgage broker has a great idea - the gift of equity - The gift doesn't affect the sales ...
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| Amortization Schedule problem | 7/20/2008 | Jim Hoepf |
Q: We have been making payments on our home for 3 years. We are expecting to receive enough to pay the ...
A: Laura, I guess my first question is how big a difference is there between the actual payoff given ...
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| 2nd mortgage | 7/19/2008 | Jacqueline Kounkel |
Q: my 1st mortgage foreclosed on my house. the house is about to go back to the mortgage company. i ...
A: I am sorry that I am not the correct person to answer this question for you. I would speak to a ...
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| line of credit | 7/19/2008 | Denise Monaco |
Q: my home is worth 170,000 and i owe 97,000 and currently have a line of credit from etrade for ...
A: Depending on where you live you should have no problem getting that by consolidiating your first & ...
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| Investment property | 7/17/2008 | Heather Schneider-Rivero |
Q: I currently have a rental property for sale and because of the amount owed cant really afford to ...
A: .. unfortunatley both statements given to you are incorrect! If you foreclose on the property it ...
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| Investment property mortgage | 7/17/2008 | Jim Hoepf |
Q: I have an investment property in Mo. that has been sitting on the market for several months and now ...
A: Rebecca, No. A quit claim would only transfer the property to the business, but the loan would ...
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| Post dated payment arrangements. | 7/17/2008 | James Setters |
Q: My home loan was sold to another co. I made payment arrangements with the old co and they took post ...
A: Marie, Thanks for the follow up. You know, throughout my career I have heard stories from people ...
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| Post dated payment arrangements. | 7/17/2008 | James Setters |
Q: My home loan was sold to another co. I made payment arrangements with the old co and they took post ...
A: Marie, Thank you for the question. Your question is an interesting one since it involves a couple ...
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| ch 13, refi, new purchase if missed loan payment | 7/16/2008 | Jim Root |
Q: My home is for sale since May, but has not sold yet. I am in ch 13 for 14 months with no late ...
A: MICHAEL-- You should meet with a Loan Officer and start the application process for an FHA-Insured ...
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| General | 7/16/2008 | James Setters |
Q: We recently lost our home to Novastar Mortgage. We found out Novastar had a discrimination suit ...
A: Toni, Thank you for the question. Your question is really more of one that is legal in nature, but ...
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| FHA loan | 7/15/2008 | Ron Bauer |
Q: I am currently looking to buy a new house. Just sold mine and I had a conventional loan on it - ...
A: Kevin, Thank you for contacting me with your question. Some times people think that FHA loans are ...
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| Rental Refinance | 7/14/2008 | Bret Temple |
Q: I have a rental property in Spokane, Washington that doesnt cash-flow.....am paying an additional ...
A: There are 40 year loans out there. Not too many, but there are some. Or, you can refinance into an ...
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| land home financing | 7/12/2008 | Brian Beardsley |
Q: We are buying a couple of lots with utilities on both lots, there is also an old two bedroom trailer ...
A: Unfortunately, your situation is a difficult one - You have the strong credit and your husband has ...
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| Forclosure | 7/12/2008 | Eric Forster |
Q: We recently moved to Florida with a job change, and are unable to sell our house in Virginia (12 ...
A: In some states, such as California, purchase money mortgages are "no recourse" loans and the ...
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| land contract | 7/12/2008 | Heather Schneider-Rivero |
Q: my boyfriends mom wants to sell her house and has asked us if we wanted it. She is thinking about ...
A: . I am so sorry for the delay.. I am 100% sure I answered this your question and for some reason it ...
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| refinance | 7/11/2008 | Tom Burris |
Q: I have been trying to refinance and have gone thru alot with different lenders,from telling me to ...
A: Holding off on paying bills made your score go down? Did you 'hold off' past the due date? I have ...
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| Walk away from current mortgage | 7/11/2008 | Jim Hoepf |
Q: I have a jumbo loan at 950K, the house value is appraised at 1.05M. Our current situation is not ...
A: JZ, You can wait and see what happens, but I don't recommend it. Its best to be proactive and move ...
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| Selling a detached garage. | 7/11/2008 | Denise Monaco |
Q: My neighbor wants to buy our detached garage. What responsibilities do we have to our mortgage ...
A: I do not believe you can sell the garage for several reasons. When the house was appraised the ...
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| Walk away from current mortgage | 7/11/2008 | Jim Hoepf |
Q: I have a jumbo loan at 950K, the house value is appraised at 1.05M. Our current situation is not ...
A: JZ, First, I would contact the lender and tell them the situation. You may even want to suggest to ...
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| Walk away from current mortgage | 7/11/2008 | Joe Almirantearena |
Q: I have a jumbo loan at 950K, the house value is appraised at 1.05M. Our current situation is not ...
A: This question involves legal consequences, that you should consult with a legal professional about, ...
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| refinance questions | 7/10/2008 | Denise Monaco |
Q: I bought my first house in Portland Oregon in August 2007 - almost one year ago. I was one of the ...
A: I have a few questions first, do you know if the property value has changed in your area? How much ...
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| QUIT CLAIM DEEDS | 7/10/2008 | Tom Burris |
Q: MY QUESTION IS .IF I QUIT CLAIM MY CONDO IN CALIF. OVER TO MY SON, DOES THE BANK QUALIFY HIM FOR THE ...
A: If you Quit Claim the property to him, it doesn't necessarily do anything for him. The lender could ...
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| close on new house . | 7/10/2008 | Jacqueline Kounkel |
Q: just built a new house me ,few friends .construction loan was no trouble .with local bank .they ...
A: Let me see if I am understanding what you are asking me for. It appears to me that you took out a ...
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| motgage | 7/9/2008 | James Setters |
Q: My brother owns a primary residence in Spring Hill Florida, it has a value of $400,000 and he owes ...
A: Russell, Thanks for the question. I think the issue at hand is whether or not the lender, in this ...
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| Transfers/Refinance | 7/8/2008 | Eric Forster |
Q: My family lives in a condo that I would like to keep for my parents and inlaws. However, we ...
A: Your lender wants to be certain that you don't have the burden of carrying two properties. , To ...
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| short sale credit implications | 7/7/2008 | Bret Temple |
Q: I got tricked into a home loan that with incredible high interests (80-20) that I cannot afford any ...
A: My guess is you dont have enough equity to refinance. A short sale can be on your credit for 7-10 ...
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| Bad Buying Decision / I want out | 7/7/2008 | Heather Schneider-Rivero |
Q: I was young and dumb when I bought my house 12 years ago. I got it fairly cheap (sub-prime?) and ...
A: .. sounds like you are in a mess! Don't feel bad, the rest of the country is too! There are ...
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| totally lost | 7/5/2008 | Ron Bauer |
Q: Here’s life situation Just finished school with 17, ooo student loans= School teacher with about ...
A: Josue, Thank you for contacting me with your questions. To establish credit you need between 3-4 ...
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| faster | 7/4/2008 | Bret Temple |
Q: .i recently bought a home, and last month sent in a few extra dollars to help pay down faster. they ...
A: Make sure when you send your payment in that you write on the check on the memo line, "To Principle ...
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| mortage co vs bank co | 7/4/2008 | Marlon Doerre |
Q: Do I need to go through a mortgage co in order to purchase a second home in Texas? How can I ...
A: Sorry for the delay in answering your question. I have been out of the office. You can go ...
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| FHA re-fi and " insurance premiums" | 7/2/2008 | Ron Bauer |
Q: so great to have your expertise available online like this! Thankyou!.. i am re-fi my first ...
A: Margaret, Thank you for contacting me with your question. On all FHA loans there is a Mortgage ...
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| 2nd property | 7/2/2008 | Tom Burris |
Q: I lived in a twinplex i own, no mortgage, for 14 years. IN nov 2007 bought a second home and 6 ...
A: I don't think so.... But I am not an attorney. The lender may go after you for any deficiency ...
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| refinance with a disability | 6/30/2008 | Heather Schneider-Rivero |
Q: Is there any lender out there that would give a (refinance) loan at a lower than average rate for a ...
A: .. There is no bank that will ever discrimate against anyone with a disability, however they do not ...
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| a loan ? | 6/29/2008 | Stacy |
Q: can i get a mortgage after chaper 7 one year later
A: Stephen The general rule is 2 years from discharge. However if you filed BK due to medical or death ...
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| Renting Foreclosure | 6/29/2008 | Jacqueline Kounkel |
Q: I live in Muskegon,MI and I have been paying rent for 2 years and now the house was going into ...
A: I am sorry to hear that you are having to leave your rental home. I can not be sure of the laws of ...
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| mortgage PMI | 6/27/2008 | Eric Forster |
Q: keep getting refinance solicitations from my mortgage company. Had refinaced with Countrywide years ...
A: Jeff - A phone call, by itself, is not going to trigger any action on the part of Countrywide. The ...
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