| Subject | Date Asked |
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| foreclosure | 11/13/2009 |
Q: My wife is facing forclosure on my home, it is deeded in her name and the mortgage is in her name ...
A: Unfortunately, your question is too brief and incomplete for a thorough response. I'm not sure ...
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| Charge-off issue | 11/10/2009 |
Q: I recently had a charge off on my 2nd mortgage. The amount was 140k. I spoke with the recovery dept ...
A: Your options to refinance would be if you have equity in your property. If you do not have any ...
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| Quit claiming part of ownership without having to refinance | 10/30/2009 |
Q: I own a single family home in Los Angeles, CA. It is heavily mortgaged. I want to quit-claim 50$ of ...
A: The lender will not demand anything. You can add this person to title, if you wish. Keep in mind ...
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| reverse mortgage | 10/1/2009 |
Q: My husband is 81 and I'm 60. We own/ed five properties. Unfortunately, two we've had to let go into ...
A: Without knowing more details about your particular situation, I cannot tell you whether you can or ...
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| co sighning mortgage ? | 9/22/2009 |
Q: My dad co sighned for my cousin in law 2 years ago and now they said they did'nt make a payment this ...
A: Your dad's credit will not transfer over to you. As far as your legal options go, I am a mortgage ...
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| co sighning mortgage ? | 9/21/2009 |
Q: My dad co sighned for my cousin in law 2 years ago and now they said they did'nt make a payment this ...
A: I'm sorry to hear about your dad's predicament. Yes, his credit is getting screwed up if the cousin ...
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| qualifying for conventional loan | 9/20/2009 |
Q: Just Friday 9/18/09 I was told by mortgage broker that all banks have gone to requiring 3 years ...
A: Your question points out an important part of the home buying process. One should always get ...
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| FHA vs. Conv Refi | 9/2/2009 |
Q: House in California bought 2004 for $830,000. 80% 1st loan, 15% 2nd loan (through hiring company at ...
A: FHA will allow you to keep your current second mortgage. You can refinance your first, up to 80 of ...
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| on Title but not on Loan? | 8/21/2009 |
Q: My brother and I plan to purchase a condo together. This will be his first home and primary ...
A: It's a minimal fee. I'm not sure exactly. You should ask a title professional, or escrow officer. ...
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| on Title but not on Loan? | 8/21/2009 |
Q: My brother and I plan to purchase a condo together. This will be his first home and primary ...
A: Yes. FHA allows gift funds to secure financing. Your brother would purchase the property by ...
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| equity loans | 8/20/2009 |
Q: In 2003 I was given a home equity line of credit for $50,000. As I saw the flexible interest rates ...
A: HELOCs are an adjustable interest rate type of financing. If you took out a $45,000 draw on the ...
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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: Without knowing much more about your situation, I cannot say whether you would or would not qualify ...
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| Interest Credit | 7/17/2009 |
Q: Is there such thing as an interest credit window? I read in one website: ...
A: It's a double edged sword. If they would have drawn up new docs, they would have charged you an ...
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| Interest Credit | 7/17/2009 |
Q: Is there such thing as an interest credit window? I read in one website: ...
A: If the financial adjustment was corrected, and is in order, then yes, it's legal. If the ...
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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: Michelle, Forget the article you read. Days of interest collected is determined by which day of the ...
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| Buying a Home | 7/13/2009 |
Q: I am 28 and I had to sign my parent's refi since they didn't qualify to refi on just my mother's ...
A: Unfortunately, it will affect you. It does not necessarily affect you negatively, but it can. Now ...
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| co-own a home | 7/8/2009 |
Q: My friend and I are thinking to buy a house in CA together, therefore the house will be under both ...
A: If I'm reading you question correctly, then you are taking on all of the risk. If the mortgage is ...
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| Cash Out Refi went bad | 7/7/2009 |
Q: This is for a cash out refi to pay off unsecured loans. Well, I've been duped. Im extremely ...
A: The fact is our industry is going through huge changes at the moment. Lenders are implementing new ...
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| cash out refi | 6/26/2009 |
Q: Joe, Can we do cash out refi on a property that was purchased in cash 6 weeks ago? also can we use a ...
A: It depends on the circumstances of your situation. You must qualify based on 2 years of job ...
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| Need loan for addition to home | 6/5/2009 |
Q: I'm in an unusual situation and need an expert opinion and guidance. Let me explain - I'll be moving ...
A: Off the top of my head, 75% of the current value of the home, can be financed on an investment ...
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| first time homebuyer | 5/13/2009 |
Q: I am going to be a first time homebuyer in the state of California. I have some questions to ask ...
A: These are good questions that need to be answered after exploring your goals and current situation ...
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| CA quit claim recording | 5/7/2009 |
Q: My ex-business partner executed/notarized a quit claim to my property. I was the sole owner since ...
A: I do not know what the time limit is. This question should be directed to an escrow professional. ...
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| Buying a home after foreclosure | 5/1/2009 |
Q: Here is our situation: Approximately one year before we got married, my wife purchased a one ...
A: Abe, Let me start by saying I'm not sure whether the foreclosure will or will not affect your ...
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| Buying a home after foreclosure | 5/1/2009 |
Q: Here is our situation: Approximately one year before we got married, my wife purchased a one ...
A: Understand there are levels of consequences for each of your choices. The first thing I would try ...
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| What do I do? | 4/2/2009 |
Q: If I signed a contract with a realtor thinking I was pre-approved to later find out I wasn't,do I ...
A: It depends on the contract you signed, but generally, most purchase contracts are dependant on ...
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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: On an FHA home loan, it allows for gift funds to cover the required minimum downpayment, from ...
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| Home Loan Refinance | 3/6/2009 |
Q: I just received our closing cost estimate and HUD statement on our refinance home loan mortgage (it ...
A: The only charges you may be responsible for is: look at the good faith estimate, and see if there is ...
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| Quick Question | 2/10/2009 |
Q: I have been talking with a Realtor here in Las Vegas, who has been giving us some very shady advice, ...
A: In my opinion, destroying your credit, and jeopardizing your future ability to ever buy a home again ...
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| FHA owner-occupancy requirement | 2/2/2009 |
Q: My husband and I would like to purchase a home with his brother. His brother is a first time home ...
A: The first time homebuyer stipulation only applies if you've purchased property in the last 3 years. ...
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| Second Home vs. Investment Property Financing | 12/19/2008 |
Q: I read your previous answer to Mary's question and want to ask a follow-up. I own a property in ...
A: When designating a home as a second home, the lender will be noticing distance from your primary ...
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| Probate information | 12/9/2008 |
Q: I'm not sure if you’re the correct person to ask. I hope u can assist me or direct me to someone ...
A: First, let me say that this question is somethiing that needs to be directed to a legal ...
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| Owner occupied mortgages | 12/9/2008 |
Q: I own a duplex in LA county and had used it for my primary residence until three years ago. Since ...
A: If you have not lived in California for 3 years, and you need to refinance, weigh the benefits ...
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| Tips for buying a second home and using as Primary res. | 11/20/2008 |
Q: My friend owns a townhome and rents it out. He is looking for a secondary property to purchase and ...
A: Kelley, Your question is so broad, I'm not sure what you want to read in this answer. There are so ...
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| Older fokes w/ investment prop woes | 10/14/2008 |
Q: I'll try to keep our circumstances as brief as possible. We own five properties with one being our ...
A: Esther, first let me say that you should contact a legal professional about your options. As a ...
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| Older fokes w/ investment prop woes | 10/12/2008 |
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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| re-finance long shot | 9/22/2008 |
Q: Are there any banks that are allowing home owners to convert their variable rate loans to fixed ...
A: There is a loan program that may be able top help your situation. It's rather extensive for an ...
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| land loan | 8/5/2008 |
Q: I want to buy 10 acres of farm land to build a home on.I plan to biuld in about 2 years after I pay ...
A: I'm not sure what your question is? For FREE California mortgage information, please visit my ...
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| forclosure 80/20 | 8/1/2008 |
Q: I have a 80/20 mortgage where both loans are with the same company. How would, possibly, a ...
A: K, Your lender does not want you to go into foreclosure, anymore than you do. It is in your best ...
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| forclosure 80/20 | 8/1/2008 |
Q: I have a 80/20 mortgage where both loans are with the same company. How would, possibly, a ...
A: I'm unclear about your question. I will try to answer your question generally. Due to the current ...
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| Walk away from current mortgage | 7/11/2008 |
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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| difference between GFE s | 5/29/2008 |
Q: I'm refinancing through a broker, he gave me a GFE with $5,000 closing cost but then Chase bank sent ...
A: Pull out immediately, so that you don't waste anyones time. Here's the truth. Both entities will ...
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| buying a home | 5/5/2008 |
Q: but they make payments then afetr 1yr switch name on title/deed into their name.is this feasible ...
A: Ramon, This is one of the most difficult family situations I'm presented with, and comes up more ...
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| Help1 | 4/30/2008 |
Q: I get SSI every month. I'm trying to figure out a way to buy a home for my children and myself. Do ...
A: Just like any other borrower for a home loan, your income must support your monthly mortgage ...
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| No down payment | 4/21/2008 |
Q: I recently recieved the closing papers for a local residence and they would like either 4,200 down ...
A: Chris, There's no way to say for sure what the bank will do. If you're in fact buying this home as ...
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| Carrington Mortgage Service | 2/22/2008 |
Q: i have read that carrington mortgage service is participating with other lenders in operation ...
A: Melissa, No. New Century went BK. Their borrowers were sold off to different lenders, and those ...
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| subprime lending | 2/8/2008 |
Q: what do you think is the best plan action to take to provide the most advantages and get us out of ...
A: Jon, Let the free market determine the consequences. Just like any market, there are highs and ...
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| Disaster | 2/7/2008 |
Q: I purchased my California home in September of 2005 for $292,500. At the time, the words of advice ...
A: Jimmy, Yes, you are going through what many recent home owners are going through. Do not get too ...
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| investment property short sale/foreclosure | 1/29/2008 |
Q: i have a condo in orange county, ca. that i moved out of in august 2007 when we bought our new home. ...
A: Alex, I want to begin by saying, you really need to speak with an attorney about the consequences ...
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| Purchasing Home from Parents | 1/28/2008 |
Q: My parents are recently retired and they are very close to having their home paid off (within a few ...
A: Yes, you can accomplish this. At closing, you must declare to the title officer how you are taking ...
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| First Time Buyer in a Declining Market | 1/15/2008 |
Q: My husband and I are in contract to purchase a home in Central Valley area, CA. The builder has ...
A: There are definitely some great options available to you. I live in the central valley, and would ...
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| foreclosure | 12/3/2007 |
Q: Ok, my now husband purchased our home in 2005 in Florida. Since then the market had crashed horribly ...
A: At all costs, DO NOT GO INTO FORECLOSURE, if at all possible. If you have to choose, a bankruptcy ...
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| name on mortgage not the title | 10/25/2007 |
Q: just over 3 years ago i bought a house on a land contract. then 6 mounths latter i refinaced with a ...
A: Contact the Title company that handled the escrow, when you refinanced 2 1/2 years ago, and ask them ...
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| Bankruptcy and Foreclosure - work out | 10/3/2007 |
Q: -Is there a ideal guide line to propose a work out with the lender to avoid the conclusion of a ...
A: I have some ideas about this, but you should sincerely ask a bankruptcy attorney. There is ...
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| Re-Finance to sell? | 9/3/2007 |
Q: First, thank you for your time! My husband and I are considering divorce and have a first & second ...
A: There are several points to consider in this question. First, unless you're planning to reduce the ...
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| refinance | 8/31/2007 |
Q: we bought our house in 1990 for 160k and have refinanced a few years ago to pay off a vehicle and ...
A: I am a mortgage professional, not a tax professional. For a more accurate response, you should ask ...
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| California Mortgage | 8/25/2007 |
Q: Since my divorce in Sept 06 my name has stayed on the mortgage of the house my ex and my kids still ...
A: There are legal consequences to your actions here, so do yourself a favor, and consult with a legal ...
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| Gift Equity Loan | 7/19/2007 |
Q: My aunt wants me to take out a gift equity loan on her house for one year. How will this benefit ...
A: I'm not sure what your question is. Assuming you're talking about a home equity line of credit, ...
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| question | 7/5/2007 |
Q: .. quick question... Is it possible to buy or lease apartment building in San Francisco,ca and ...
A: TIC is a term that refers to how Title is held. A tenancy in common, means that the seller does not ...
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| question | 7/3/2007 |
Q: .. quick question... Is it possible to buy or lease apartment building in San Francisco,ca and ...
A: What you workout with an owner of a property is between you and them. If you follow the laws ...
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| question | 7/3/2007 |
Q: .. quick question... Is it possible to buy or lease apartment building in San Francisco,ca and ...
A: Yes, there is a way to do it. It is not a simple process, however. Research the steps online, and ...
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| Ernest Money | 6/29/2007 |
Q: . I recently put an offer on a house and deposit 2000 dollars for earnest money. I than got a ...
A: Mak, Yes, you can get your deposit back. Call the escrow office the escrow was opened through. ...
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| foreclouser | 6/4/2007 |
Q: i have a 3 family house that i own for 5 years when i refinance the house to fix my baseman that ...
A: Try and refinance to an interest only mortgage loan, or look into a 50 year amortization mortgage ...
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| Placing a lein on real property. | 5/2/2007 |
Q: I made a personal loan to help my son and his wife purchase a home and I have a signed loan ...
A: I have referred people this information in the past. You should try to do this as soon as possible ...
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| interest rates | 3/12/2007 |
Q: I want to let you know that I live in NJ and when I asked this question of a NJ broker or mortgage ...
A: I don't have a crystal ball, but if I was a betting man, I would say the rates will continue to go ...
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| interest rates | 3/8/2007 |
Q: When the federal reserve raises or lowers rates, I understand that it does not have a direct impact ...
A: This is a very difficult question, and has many parts to it. First of all, there is not one thing ...
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| Home Loan | 1/25/2007 |
Q: If a man and wife jointly own a home in California, may one spouse secure a loan against the home ...
A: This is a legal question that should be directed towards an attorney, however, I've been told that ...
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| Refferal | 12/23/2006 |
Q: I am trying to come up with ways to gain business. Is it illegal for me to give a "referral" or kick ...
A: I can only give you my answer based on being licensed through the Department of Real Estate. My ...
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| mortgage pay off | 11/26/2006 |
Q: My mortgage has always been a fixed VA home loan mortgage, so I don't need to worry about that. I ...
A: I'm glad to be of help. If you have any questions about mortgages in California, please visit my ...
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| mortgage pay off | 11/25/2006 |
Q: I owe about $36,000 left on my mortgage home loan at 7%. I plan to pay it off in the next 2 years. ...
A: There are a few issues to tackle here. Without knowing the details of your current mortgage, this ...
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| Mortgage Information in California | 11/3/2006 |
Q: Where can I find a website that will give me some information on what it takes to buy a home?
A: Visit http://www.findmyloanonline.com This site is loaded with FREE REPORTS, an informative home ...
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