| Subject | Date Asked | Expert |
|
| PMI | 10/15/2008 | Denise Monaco |
Q: Denise, I really need to drop my PMI. Citimortgage is not too eager to do so. Here are the facts. ...
A: The only option that you may have is to refinance. The state of Florida is mostly in a declining ...
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| Buying a home through a private sale | 10/14/2008 | Eric Forster |
Q: My father in law wants to sell me his home as a private contract. He wants to do it at 0 percent ...
A: John - The question is whether you'll receive a deed for the title immediately, or whether this is ...
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| HELP | 10/13/2008 | James Setters |
Q: Hi I was wondering how i go about getting my name off the house title? My partner and i have just ...
A: Removing your name from the deed to the house is relatively simple... you would need to execute a ...
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| Older fokes w/ investment prop woes | 10/12/2008 | Joe Almirantearena |
Q: I'll try to keep our circumstances as brief as possible. We own five properties with one being our ...
A: The last thing you want to do is go into foreclosure. First, ask yourself honestly, have you done ...
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| loan vs. title | 10/12/2008 | Ron Bauer |
Q: my ex-husband wants to write off the mortgage interest on the home that i live in---his name is not ...
A: Lauren, Title & Mortgage are separate. Whomever has their name on the mortgage will get the ...
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| property lien | 10/10/2008 | James Setters |
Q: there is a lien on my property, if the home is foreclosed on what happens to the lien?
A: Adriana, It would depend upon the type of lien in question. A mechanics lien, as an example, ...
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| Pay off Home Mortgage | 10/9/2008 | Bret Temple |
Q: My question is rather or not I should pay off a home mortgage with money that I have sitting in a ...
A: Everyone has their interpretation of whether or not you should pay your mortgage off. I'm not sure ...
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| Title | 10/9/2008 | Bret Temple |
Q: Please clarify correct title. My belief is that if someone is on the agreement of sale, but not on ...
A: Basically, if you have 2 people going on the 1003, then both individuals must be on title when the ...
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| foreclosure | 10/9/2008 | Jim Hoepf |
Q: My house was foreclosed on 08/14/2008. I actually kind of knew the lady who bought it at auction. ...
A: Sheila, You probably won't get anything from your bank stating what was paid for by your home. I ...
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| Canceling PMI insurance | 10/8/2008 | James Setters |
Q: Our son and daughter-in-law are buying their first home. We would like to loan them part of the ...
A: Susan, Thanks for the question. You are correct that PMI, once placed, is required to remain on the ...
|
| Foreclosures | 10/8/2008 | Denise Monaco |
Q: We own 5 investment properties in Soutwest Florida with another couple. Basically our names are on ...
A: I'm sorry to hear about your situation but it is happening all over the place. To answer your ...
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| foreclosure | 10/7/2008 | Jim Hoepf |
Q: My home is going into foreclosure. The association that manages the home does not know ...
A: Rob, I would assume that the association dues would be wiped out because of the foreclosure. ...
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| family loan to help with down payment | 10/7/2008 | Tom Burris |
Q: My son and daughter-in-law are purchasing their first home with a conventional loan. They have saved ...
A: I don't think you can get a private money second lien thu underwriting. But there are still a few ...
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| Overpaying on mortgages | 10/6/2008 | Bret Temple |
Q: I'm looking into purchasing a condo (first time buyer). I have a pretty stable job that I don't ...
A: There is no doubt that over paying your mortgage will increase the equity in your property and ...
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| Deed in Lieu of Forclouser | 10/6/2008 | Eric Forster |
Q: Our home is now worth 30,000 less than we owe. We have a first and second. The Master and Kitchen ...
A: This morning, Bank of America announced a settlement with many of Countrywide's borrowers, giving ...
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| Sub-prime mortgages | 10/5/2008 | Eric Forster |
Q: Like everyone else, I've been reading about sub-prime mortgages, but there is one significant ...
A: Congress indeed pressured Fannie Mae, Freddie Mac and FHA to relax their guidelines starting about 6 ...
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| Sub-prime loans | 10/5/2008 | Larry Batch |
Q: Like everyone else, I've been reading about sub-prime mortgages, but there is one significant ...
A: it was permitted not a law. But this what happens when rules are laxed and government and banks knew ...
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| Sub-prime Mortgages | 10/5/2008 | John Groves |
Q: Like everyone else, I've been reading about sub-prime mortgages, but there is one significant ...
A: sub prime lenders were not backed by the feds and they set their own guide lines.backed mortgage ...
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| Refinancing or adding name to existing mortgage loan | 10/5/2008 | Jim Hoepf |
Q: . I am still waiting word back from Wells Fargo, hopefully they will respond soon. Thank you so much ...
A: Ann, The determining factor is how long the house has been owned as a primary residence. If that ...
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| if a lien following a new mortgage company | 10/4/2008 | John Groves |
Q: I need to see if a lien that was place on our home in 1999 a second mortgage which now the company ...
A: if you reafirmed your mortgage loan in orfer to keep your home -----the 2nd will still be against ...
|
| quitdeed | 10/4/2008 | Ron Bauer |
Q: I own two houses my brother has been living in one for over 2 years and paying the mortgage - 65,000 ...
A: Unfortunately a quit deed only transfers title and not the financial liability of the mortgage to ...
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| quick claims and farmers home loans | 10/4/2008 | John Groves |
Q: 12 years ago i parted ways with my ex girlfriend. i quick claimed our home to her.mine was the sole ...
A: doing a quick claim does not remove your responsability for the mortgage----how it got to 100,000 ...
|
| Not sure what to do? | 10/2/2008 | Brian Beardsley |
Q: I purchased a home with a partner a year or two ago. Being co-borrowers we both have assumed ...
A: .. Unfortunately, you cannot "remove" someone from a mortgage or promissory note - The only way to ...
|
| In Lieu Of | 10/1/2008 | Jim Root |
Q: Our home is now worth 30,000 less than we owe. We have a first and second. The Master and Kitchen ...
A: GO TO THE FOLLOWING WEBSITE FOR INFO: www.hud.gov/fha/home080730 The Solution to your Problem MAY ...
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| PMI Elimination | 10/1/2008 | Greg Mengis |
Q: I recently had an appraisal on non-owner occupied 4 unit that I have owned for 3 years, for the ...
A: While it may seem unfair by the bank to use the lower number...it is pretty common that the ...
|
| Current Interest Rates | 9/30/2008 | James Setters |
Q: I am currently looking to refinance my and would like to know where I can find out what the current ...
A: Ana Thanks for the question. Where are you located? That might provide me with a good starting ...
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| Mortgage bailout plan | 9/30/2008 | Jim Root |
Q: Lew Dobbs stated on his show 9/29/08 that some of the government money to purchase bad mortgage ...
A: ACORN IS A NATIONAL ORGANIZATION THAT CLAIMS TO BE A NON-PARTISAN SOCIAL SERVICE ENTITY.IT IS SAID, ...
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| Private Lender Loans | 9/29/2008 | Jim Root |
Q: I was wondering if you could help me? I in in the process of buying home and going thru a private ...
A: VICKI-- Pre-Approval Letters are worthless except as they may make a Seller feel more comfortable ...
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| Home Valuation vs. Appraisal | 9/29/2008 | Eric Forster |
Q: Mr. Forster: In 2007, I applied for a 2nd mortgage for debt consolidation through Capital One ...
A: Capital One used an evaluation model, rather than an appraisal, to determine the value of your ...
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| 2nd home re-financing | 9/28/2008 | Jim Hoepf |
Q: I have now 2 homes. The 1st home I have close to 10 years was to small for me and i tried selling ...
A: Karl, You actually do have the $5100 and it doesn't have to be used as security. Reserves are ...
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| VA Loans | 9/28/2008 | Jim Root |
Q: Can I pull out or terminate a VA loan anytime during the approval process? Thank You Jim Cummings
A: Mr. Cummings-- First, "Thanks for your Service to our Nation!" A Viet Nam Vet myself, I didn't hear ...
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| Chapt 13 with home loan | 9/28/2008 | Bret Temple |
Q: I have a year to go on my chapter 13 plan. I filed individually because all of the debt was ...
A: AS far as qualifying for a home loan with a Bankruptcy, it first must show that's its been ...
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| realstate | 9/26/2008 | Jim Root |
Q: My mother owns 2 houses that don't have any equity she refinance to take the money out and buy the ...
A: Your Mother's Mortgage on the Apartment is SEPARATE from the one that you & she share on your Home, ...
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| realestate | 9/26/2008 | Bret Temple |
Q: What is the best type of loan to have? A loan for 25 yrs.with a one year arm , or a loan with a ...
A: If I'm understanding you correctly, you mean a 1 year fixed ARM that is amortized over 25 years? The ...
|
| deed transfer | 9/25/2008 | Greg Mengis |
Q: Our home is currently a pay option that is about to recast. We cannot afford the new payment and ...
A: How recently did your house appraise for $1,050,000? If recently, and the appraisal is a realistic ...
|
| cancellation fees | 9/25/2008 | Greg Mengis |
Q: my realtor open escrow for a house i wanted to buy ,but their were giving me a 7% but i when to ...
A: If there is documentation that you agreed to certain fees, you need to get very specific copies, and ...
|
| about a home that I cant pay | 9/25/2008 | Ron Bauer |
Q: if I cant pay i owe 3 1/2 month all ready what happens when I go to foreclosure here in ...
A: Cesar, Sorry to hear about your situation. Although I would advise you to seek an attorney in such ...
|
| loan consolidation | 9/24/2008 | James Setters |
Q: i have an 80 20 loan,when i purchased this house i paid only 10% and the other 10% went to a credit ...
A: Javier, Unfortunately, I am unable to answer your question since I do not have enough information. ...
|
| Co-Ownership | 9/23/2008 | Tom Burris |
Q: My question is related to co-ownership of a duplex. My mother is married, she and her husband ...
A: You have issues that I cannot really advise you on here, but I can answer the mortgage part. If she ...
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| land | 9/23/2008 | James Setters |
Q: My father had purchased his home about 15yrs ago, at that time the house sat on 1.5 acres and there ...
A: Stephanie, Thanks for the question. If the additional acreage has been listed as collateral ...
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