| Subject | Date Asked |
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| Mortgage Charge Off | 10/27/2009 |
Q: I am with HSBC mortgage company who had advised me that my home was in foreclosure due to lack of ...
A: Wow...I guess you can count me amount the confused! To have a mortgage company not accept payments ...
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| mortgage charge offs | 10/23/2009 |
Q: Please help me....We are about to lose our home and have started the process of bankruptcy. We ...
A: I am sorry for your situation and I hope your husband finds work soon. You are certainly not alone. ...
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| Didn't purchase a home, but lender wants to charge a $350 Pre-Purchase Rate Protection Fee. | 8/26/2009 |
Q: I applied for pre-approval over a year ago. I decided to not purchase home and through the ...
A: David, The rate protection fee of $350 is kind of odd for starters. Most rate lock in programs do ...
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| va mortgage | 8/21/2009 |
Q: If I already have a mortgage can I still buy another house with my va loan or do I have to wait
A: VA allows you to have more than one loan at a time. They don't allow you to buy investment ...
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| Mortgage house problems | 8/13/2009 |
Q: What are the options when you can not afford to pay your mortgage? Also if you walk away from your ...
A: I am sorry that things are getting tight for you. Just know you are not alone... You can walk away ...
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| Loan Qualification | 8/11/2009 |
Q: I am a US citizen who has been living and working abroad in South Korea for the past three years ...
A: If you plan to stay in South Korea and continue that income it would have to be verified. If you ...
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| mortgage in spouses name only | 8/10/2009 |
Q: what happens if spouse dies and mortgage is in that spouse name only. Title is in both names. Does ...
A: Karol, Title can be held as joint tenants, tenants in common, etc. There are different ...
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| cash flow business | 8/8/2009 |
Q: the Cash flow business add on TV sounds great, but you say it is hard and cost money to find notes, ...
A: Gladys, My only advice is - beware. Most cash flow real estate businesses on TV take a lot more ...
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| Interest Credit | 7/16/2009 |
Q: Is there such thing as an interest credit window? I read in one website: ...
A: Sorry for the delay in getting back to you. I was on vacation since last Wednesday. Interest ...
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| refinance and escrow account | 6/26/2009 |
Q: I have met the requirement to take my escrow account out. I am thinking of refinancing my mortgage. ...
A: Judy, Escrow accounts are only required on loans over 80% loan to value. If you refinance and the ...
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| FHA Loan | 6/24/2009 |
Q: I am a first time buyer shopping for a FHA Loan. Do you charge a service fee if I need some ...
A: Amy, I do have a company that I am just getting going that will provide review services for good ...
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| Underwriter Pains | 6/11/2009 |
Q: My wife and I have been trying to close on a house for quite a while now. Let me tell you our ...
A: Jim, Your tale of loan delays is unfortunately very common. You have plenty of company when it ...
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| Real Estate Home Mortgages | 6/10/2009 |
Q: The house that I live in was built in 2006, I own the home but it is in my mother's name. I asked ...
A: There are really no specifics offered under Obama's package regarding modifications, other than ...
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| Real Estate Home Mortgages | 6/9/2009 |
Q: The house that I live in was built in 2006, I own the home but it is in my mother's name. I asked ...
A: Yes - once the back taxes are paid off, the mortgage company will begin collecting just the current ...
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| Real Estate Home Mortgages | 6/8/2009 |
Q: The house that I live in was built in 2006, I own the home but it is in my mother's name. I asked ...
A: Let's start with your taxes. Property taxes of $633 per month seem quite high. That is $7,500 per ...
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| equity line | 5/27/2009 |
Q: I have a first & second on my home - struggling to keep up payments - my first has been very ...
A: Angie, Second mortgages carry more risk for the bank because they are in second position or have ...
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| Paying off home mortgage | 5/11/2009 |
Q: Should I cash in a cd making less than 2% to pay off my home mortgage at 5%? I don't need the cd ...
A: That would make sense if you don't have any other debt to pay off. Unsecured higher interest debt ...
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| getting a mortgage | 5/5/2009 |
Q: I have Multiple Sclerosis so my only income is Social Security Disability. With mortgage rates as ...
A: Jessica, Since your rent is more than the house payment would be, and you are making that payment ...
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| To Refinance or Not to? | 5/4/2009 |
Q: We currently have a conventional mortgage through my credit union (then got sold to Central ...
A: Sorry for the delay in responding to you. It's been a little crazy this week... Even though PMI is ...
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| Taxes and insurance | 4/23/2009 |
Q: There is a commercial on radio that says to prevent deceptive loan practices it is necessary to ask ...
A: The radio ads are probably warning you that most mortgage payments advertised by builders, mortgage ...
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| first time home buyer | 4/15/2009 |
Q: My husband and I are considering buying a house this summer. We would be first time home buyers. ...
A: Great question! The formal definition of a 'first time home buyer" is someone who has not owned a ...
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| foreclosure and my credit | 4/7/2009 |
Q: We am facing possible foreclosure. Temporary loss of income but now working again. We tried loan ...
A: I would think so. I am not aware of any "out clauses" due to condition of the property on the deed ...
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| foreclosure and my credit | 4/7/2009 |
Q: We am facing possible foreclosure. Temporary loss of income but now working again. We tried loan ...
A: The bank would be the first option - see what they will do without mentioning the mold and if they ...
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| foreclosure and my credit | 4/6/2009 |
Q: We am facing possible foreclosure. Temporary loss of income but now working again. We tried loan ...
A: Molly, I am sorry you are in a tough spot, but rest assured you are not alone. Your situation is ...
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| gifting money | 3/18/2009 |
Q: My sister asked if I could borrow money on her behalf for a down payment for a home purchase. Her ...
A: Gifting money to relatives is an accepted practice for FHA and Conventional financing. It is more ...
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| Home Refinance | 2/26/2009 |
Q: I went to title company and signed all paperwork to close on loan. The date to close and fund was ...
A: I'll clarify a couple of things to see if I can help, but this may require another follow up to get ...
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| Bi-weekly Payments | 2/25/2009 |
Q: Is it really true that paying bi-weekly will knock 5-7 years off a 30 yr. mortgage? Thanks for your ...
A: Yes. 7 years actually. What happens is you end up paying 26 half payments per year. A year has 52 ...
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| balloon mortgage | 2/23/2009 |
Q: Would you tell me any advantages/disadvantages to a balloon mortgage? Also what questions should I ...
A: I haven't arranged a loan with a true balloon for quite a while. They used to have better interest ...
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| LLC | 2/5/2009 |
Q: I am interested in moving investment properties from under my name to my LLC. so it can free me up ...
A: Moving the properties to an LLC wouldn't free up borrowing power, if that was your main objective. ...
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| loan approval | 1/17/2009 |
Q: they approved my VA home loan even i didn't have money to close the loan. they asked my latest bank ...
A: Good detective work. When it comes to the real estate business and mortgage loans - people can do ...
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| Escrow reserve | 1/4/2009 |
Q: After owning my home for a year, my mortgage company asked me to pay $299 for my escrow account. ...
A: Erin, There is definitely a communication break down. With the loan officer and the mortgage ...
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| investment purchase | 1/2/2009 |
Q: I would like to purchase a foreclosed home in FL for my recently divorced daughter and her 2 ...
A: Linda, It appears that you would be in good shape to make this purchase, according to my quick ...
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| Financing | 12/3/2008 |
Q: I have recently purchased a duplex for 23,000 in antigo, wi. I had my grandma co-sign because I am ...
A: Chris, If you are accurate on the rental income you can collect, you have certainly found a great ...
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| loan approval | 11/29/2008 |
Q: they approved my VA home loan even i didn't have money to close the loan. they asked my latest bank ...
A: I am sorry you are in this situation. Mortgage financing can bring joy or pain depending on how it ...
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| refi rates | 11/27/2008 |
Q: I was wondering if you know: In a deflation, do mortgage rates tend to go up or down? Thanks in ...
A: Deflationary economic conditions typically point to lower interest rates. That seems to be true ...
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| quit loan | 11/3/2008 |
Q: my brother asked me if he could include my name in a refinance loan for his house just to have an ...
A: I've never heard of a "quit loan". He may mean to say a "quit claim". That is a deed signed by you ...
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| Closing Day | 9/22/2008 |
Q: I will be scheduling a closing date on my refinance with my chosen lender via a Paramount Lending ...
A: I'll be glad to review it. I don't know if you have signed the papers yet, but if you have they ...
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| Closing Day | 9/17/2008 |
Q: I will be scheduling a closing date on my refinance with my chosen lender via a Paramount Lending ...
A: You probably have great credit and a low loan to value ratio. Congratulations! That is the only ...
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| mortgage survey | 9/1/2008 |
Q: How do I find out if there is a law in Massachusetts that requires a refi loan to need a land ...
A: This most likely would be a requirement of the title company used for the title insurance policy, ...
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| competing lenders | 8/5/2008 |
Q: I've applied for re-financing from one bank that I'm associated with, and naturally, word got ...
A: First of all, let me apologize for the delay in getting back to you. I signed up as a volunteer on ...
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| Closing error | 8/4/2008 |
Q: Background..... I signed the purchase agreement with Ryland Homes in Jan 2008 for my new home. The ...
A: First of all, let me apologize for how long it took me to reply. I signed up as a volunteer many ...
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