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Real Estate Home Mortgages/Questions Answered by Expert Joe Almirantearena
| Subject | Date Asked |
| inherited moms house and need financing | 6/4/2011 |
| Q: I and two siblings have inherited our moms house. The house is in Chowchilla CA. Mom had $38,000 in ... A: You will need to establish credit. FHA requires 2 open tradelines to secure a home loan. So get 2 ... | |
| Adjustable Rate Mortgage | 5/14/2011 |
| Q: I just need to clarify my understanding of my adjustable rate mortgage. I have a 7/1 ARM which is ... A: I do not know with any certainty what the terms of your loan is. If in fact, all the information ... | |
| Home purchasing | 6/21/2010 |
| Q: My son had a serious accident that has left him paralyzed from the shoulders down at which time an ... A: Different lenders have different requirements. Some lenders require the property be purchased ... | |
| very complex refinance issue | 6/8/2010 |
| Q: Wife and I live in So. Cal, we moved into a new house and are renting our old houses so we have 3 ... A: You can use 75% of the rent generated by your rentals, as income. If you refinance Homes A and C to ... | |
| RE: Mortgage Options from Lender | 5/26/2010 |
| Q: RE: Mortgage Options from Lender Dear Mr. Joe Almirantearena, I am in the process of putting a ... A: Both offers are attractive to me. The A offer allows you to have a reduced monthly payment, and the ... | |
| rates | 4/1/2010 |
| Q: What do you think rates are going to do? If they go up how much? Also, is it good to lock in a ... A: No one has a crystal ball and can predict the future exactly, no matter what they tell you. You ... | |
| Escrow refund adjusted? | 3/12/2010 |
| Q: I just refinanced my home to a lower rate. Citi was the original note holder for the past 5 1/2 ... A: Yes, it's possible that Citi charges for that. Think of it as a handling charge. Some lenders ... | |
| mortgage approval | 1/9/2010 |
| Q: Could I get a home mortgage with social security disabilty and retirement but poor-good credit score ... A: FHA recently added a minimum credit score requirement. Conventional loans also require a minimum ... | |
| Qualifying for a CALVET loan | 1/3/2010 |
| Q: My husband wants to apply for a CALVET loan for the purchase of a home. Here' the situation, he ... A: There have been so many changes to the guidelines recently, I cannot say for sure if you would or ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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. ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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. ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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. ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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, ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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, ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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. ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
About Real Estate Home Mortgages
This topic answers questions related to purchasing a home, owning a home, home ownership, mortgage education, mortgage applications, and mortgage needs whether buying a first home or refinancing a current loan. Issues related to home ownership, home equity, mortgage education, refinacing options, home improvment finacing, first time home loans, home equity loans, vactation home loans, and mortgages for investment homes are dealt with here also. Though not the primary focus of this topic, Home Equity Lines of Credits (HELOCS), reverse mortgages, and calculating home equity may also be asked. If you do not see your home mortgae, home finacing, or home equity question answered in this area then please ask a question here
This topic answers questions related to purchasing a home, owning a home, home ownership, mortgage education, mortgage applications, and mortgage needs whether buying a first home or refinancing a current loan. Issues related to home ownership, home equity, mortgage education, refinacing options, home improvment finacing, first time home loans, home equity loans, vactation home loans, and mortgages for investment homes are dealt with here also. Though not the primary focus of this topic, Home Equity Lines of Credits (HELOCS), reverse mortgages, and calculating home equity may also be asked. If you do not see your home mortgae, home finacing, or home equity question answered in this area then please ask a question here
Real Estate Home Mortgages
Answers by Expert:
Joe Almirantearena
Top Expert on this page
Expertise
I can provide all the mortgage information you need to make an informed decision about obtaining a mortgage in California.
Experience
I've been working in the Mortgage industry for ten years, helping people throughout California, with all types of credit, employment, and rental histories, secure home financing for purchase and refinance. I have dedicated my website to provide FREE mortgage and real estate information to California residents. Visit http://www.findmyloanonline.com
Publications
Fresno Famous
Education/Credentials
California Department of Real Estate
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