| Subject | Date Asked |
|
| REFINANCE | 10/15/2009 |
Q: In New Hampshire. I owned a home for 5 years as sole owner and single. My name is the only name on ...
A: Dan, Different states might have different laws, but they are probably requiring a signature from ...
|
| Mortgage | 9/25/2009 |
Q: I have a mortgage, where when the co-owner passes, his ownership passes to the living co-owner. I ...
A: The type of ownership you are speaking about is called a Joint Tenant agreement. In this agreement ...
|
| Refinance/unpaid taxes | 9/24/2009 |
Q: First off, thanks so much for this service! I'm trying to refinance my house, and I have good ...
A: You will need some kind of income documentation in order to refinance. By now, the Lender will be ...
|
| Use a broker for home equity loan? | 6/12/2009 |
Q: First of all, I sincerely thank you for any help you can give. We have a mortgage balance of ...
A: First of all I'm sorry for all the financial difficulties you have been going through. Unfortunately ...
|
| Lender, Refinance | 6/8/2009 |
Q: I am purchasing a new home in Southern California and have a mortgage company working on a loan for ...
A: First of all, there is little recourse from a lender that takes too long to close a loan. ...
|
| refinancing home loan | 6/4/2009 |
Q: i have a 30yr fixed rate loan on my mortgage. I'm interested in refinancing and bank of america has ...
A: I actually encourage people to shop around for the best deal. You don't have to physically apply at ...
|
| Economy & the future of mortgage lending; how bad will a Chapter 7 affect me? | 5/30/2009 |
Q: I am in the early stages of considering filing for Chapter 7 Bankruptcy. I'm currently finding ...
A: There really is no way of knowing how mortgage underwriting is going to be 4-5 years from now. I can ...
|
| FHA Eligibility | 5/17/2009 |
Q: My husband and I are in the market for a new home. We are both first time home buyers. Right now my ...
A: One of the differences of qualifying for an FHA loan Vs. a Conventional, is that when a spouse ...
|
| Purchase of 2nd Home | 5/15/2009 |
Q: Im planning on buying a 2nd home and put up for rent my 1st home. But im also planning on a loan ...
A: I would take care of the loan modification before you buy a 2nd home. If they see you have taken out ...
|
| Owner Occupancy Requirement | 5/13/2009 |
Q: My husband and I have an FHA loan that also used state and county bond money. We occupied the ...
A: Typically, each lender has their own set of rules stipulated in the Promissory Note. I'd actually ...
|
| Best way to structure gift to relative | 5/12/2009 |
Q: Considering lending 10-20k to my nephew for a first time home purchase. What is the best way for me ...
A: Rob, There is nothing illegal about adding a 2nd to your mortgage. What I'm saying is to not do a ...
|
| refinance home loan | 5/7/2009 |
Q: She left me a beautiful home on 20 acres in Fresno ca. I have made the payments of 2,500 a month.The ...
A: As long as you and your husband can qualify for the loan, it shouldn't be too difficult to refinance ...
|
| 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: My first question is why is your credit score in the 500's? Are you late on credit cards or have ...
|
| Best way to structure gift to relative | 5/4/2009 |
Q: Considering lending 10-20k to my nephew for a first time home purchase. What is the best way for me ...
A: Yes, if your state uses Closing Attorneys as escrow officers then you would just instruct them to ...
|
| Best way to structure gift to relative | 5/2/2009 |
Q: Considering lending 10-20k to my nephew for a first time home purchase. What is the best way for me ...
A: I would set up a "silent 2nd" with your nephew. Gift him the down payment which requires just a gift ...
|
| Making Home Affordable refi | 4/29/2009 |
Q: Bret. My wife and are are thinking of refinancing under the Making Home Affordable plan but have to ...
A: I do not know what the conforming limits are in D.C. unfortunately. Nationally, the limit was raised ...
|
| Gift of equity | 4/24/2009 |
Q: If we are buying our house from my parents and they are gifting us the equity will we ever see that ...
A: I need to understand first of all where your getting the sales price of $360,000. I think you ...
|
| loan modification and divorce | 4/22/2009 |
Q: I have been approved for a modification I submitted the required info from me however my soon to be ...
A: If the loan modification company requires the signature of all borrowers currently on the loan, then ...
|
| lien holders | 4/20/2009 |
Q: I recently filed BK and it has been discharged. I recently got a call from my 2nd mortgage lender ...
A: the first thing you need to do is contact your bankrutcy Lawyer and make sure the lender was ...
|
| putting name on mortgage | 4/15/2009 |
Q: We would like refinance the 2nd adding my name and credit to hopefully lower the total payment & ...
A: What your wife needs to do is first Quitclaim your name on title. Then you can attempt to refinance ...
|
| Cash out letter | 4/14/2009 |
Q: I was just approved for a cash out refinance on my condo. Although the loan was approved, the lender ...
A: In reality the lender has little or no recourse. You are submitting a letter as a condition of them ...
|
| House Mortgage on Paid For Land | 4/12/2009 |
Q: We fully own an acre ~80K market value and plan on building a house on it. We are trying to figure ...
A: I'm trying to figure out your question as I think you might be a little confused, but I will do my ...
|
| Owner occupied vs investor loan | 4/10/2009 |
Q: I own a 3 unit building where I live in one of the units and rent out the other 2. I am looking to ...
A: The truth is some lenders will accept 3 units with 2/3 of them rented out as owner occupied, and ...
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| home buying | 4/10/2009 |
Q: I live in Philadelphia, PA. I am planning to buy a house/apartment somewhere in PA, most probably ...
A: First of all the $8,000 for first time home buyers is a tax credit, so consult your accountant and ...
|
| Help with re fi | 4/5/2009 |
Q: I live in PA and am looking to refinance. I plan in living in the home for about 20 years or so. ...
A: first of all the reason your getting a loan for 270k is because they are financing your closing ...
|
| buying | 4/4/2009 |
Q: i live in the uk, i have been on holiday to florida for the past 15 years, here in the uk i have a ...
A: I need to know how much money you have in American dollars not pounds. And when you say your credit ...
|
| Spouse died | 4/2/2009 |
Q: My husband died over a year ago, and out of fear I have not informed our mortgagor (the financial ...
A: First of all I'm very sorry for your loss. If you are on title to the property as joint tenants, ...
|
| Should I / Can I refinance ? | 3/29/2009 |
Q: I live in Pennsylvania and purchased my first home in October 2006. Purchasing price was 80,000 and ...
A: I would say if you can lower your interest rate at least 1 full percentage point and you have enough ...
|
| 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: Yes it is common practice for family members to Gift the down payment to another family member. ...
|
| deferring taxes | 3/13/2009 |
Q: if you sell a business and the use the money to pay off your mortgage of your primary resident, is ...
A: No. In order to use real estate to defer capital gains tax you have to do something called a 1031 ...
|
| homestead and primary residence | 3/4/2009 |
Q: My wife and I have owned a home in Houston, TX for 15 years. We are having a custom retirement home ...
A: If your intentions are to move into that new house then yes you can call it your primary residence. ...
|
| Refinance - Best approach? | 2/25/2009 |
Q: We bought our home in Nov 2007, putting down 21% in the process. We bought it for $648,000, and the ...
A: there are a few ways to deal with this. If you are upside down on your property and don't have any ...
|
| Cash flow but little down payment | 2/19/2009 |
Q: I purchased a house right out of school with 100% financing. I have made my payments on time and ...
A: First of all, if your purchased your home with 100% financing at 125k and you owe 117k, depending on ...
|
| mortgage | 2/16/2009 |
Q: I just filed bankrupty 7 and my current mortgage is very high interest rate. Is there any way for my ...
A: If your BK is recent then no. However rather than doing a refinance, you should look into doing a ...
|
| Escrow money | 2/12/2009 |
Q: I inherited a house about a year ago and took a mortgage loan on the property. Approximately ...
A: It is true that it is not the title company's responsibility to contact the attorney. Keep in mind ...
|
| Short Sale | 2/5/2009 |
Q: What are the credit implications of a short sale, is it the same as a foreclosure? How will it ...
A: A short sale is not as bad as a foreclosure. A foreclosure can and in most cases is listed under the ...
|
| mortgage question | 2/2/2009 |
Q: My brother wanted to buy a house but his credit was bad so i put the house in my name, he lives in ...
A: When a family member wants to transfer title to another family member, rather than doing an actual ...
|
| mortgage question | 1/28/2009 |
Q: My brother wanted to buy a house but his credit was bad so i put the house in my name, he lives in ...
A: There are two ways to get your name off the loan. 1. If the loan is a transferable loan, you can ...
|
| remodifying loan and prepayment penalties | 1/24/2009 |
Q: If I were to sell the property I have that is attached to a loan (bad)with a prepayment penalty ...
A: It depends on whether you have a hard prepay or a soft prepay. If you have a hard ore payment ...
|
| mortgage | 1/20/2009 |
Q: What happens to my mortgage if it is currently held by a bank that eventually goes under? Does ...
A: If your mortgage is held by a lender or bank that goes under, your "Note" simply gets taken over by ...
|
| co op co-ownership | 12/26/2008 |
Q: Temple, My ex and I purchased our New York City co-op in 2001. We broke up in 2004 without a ...
A: When you say "ex" do you mean ex husband, or ex boyfriend? If it's an ex boyfriend, then he kinda ...
|
| Real estate agent v. broker question | 12/17/2008 |
Q: I am looking for information about the differences between real estate agents and brokers. I ...
A: A Real Estate Agent must obtain their Real Estate "Sales" License by taking 3 pre requisite classes. ...
|
| Reverse mortgage for non-seniors | 12/14/2008 |
Q: I turn 50 next April and just lost my job. I have a home that was valued at the peak at 1.4mn, a ...
A: Well you might want to consider renting an apartment, and renting out your house. I bet you might ...
|
| Upside down 2nd mortgage | 12/11/2008 |
Q: Last year, I qualified for a 2nd mortgage with Capital One Home Loans over the phone. The gentleman ...
A: Let me ask you. Are you upset because they gave you too much of a line of credit, and now your ...
|
| 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: I would not go the hard money lender route. Your gonna get hit with a bad rate and it won't be worth ...
|
| property mortgage to consolidate debt | 11/25/2008 |
Q: I would like to get a loan on some property my husband and I own in a rural area of Florida as a ...
A: It's hard for me to say, because I haven't seen your credit report and I don't know what your ...
|
| property mortgage to consolidate debt | 11/25/2008 |
Q: I would like to get a loan on some property my husband and I own in a rural area of Florida as a ...
A: First of all I want to clarify that you want the loan on the 2nd home property in Florida that is ...
|
| Promsorry Note Matured - Not Paid | 11/12/2008 |
Q: Thee years ago, Mr. W. my husband and I completed the sale of an apartment complex in Aberdeen, WA. ...
A: If you have a Deed of Trust recorded on the property, and he has defaulted on his payments, or he ...
|
| Assuming A Mortgage | 11/7/2008 |
Q: My landlord is loosing his house due to foreclossure. It is possible for me to assume the ...
A: basically what needs to happen is your landlord needs to sell the property, and the lender/bank must ...
|
| real estate | 10/27/2008 |
Q: My common law husband was killed house we live in was in mothers name I make the payment since my ...
A: I"m so sorry to hear about your husband. If the house is in your mother's name or his mother's name, ...
|
| Rental | 10/25/2008 |
Q: We have been renting a home in SW Florida for 18 months and paying our rent on time $1400.00 per ...
A: I'm not lawyer, so take what I say with a grain of salt. First of all was the Lis Pendens served to ...
|
| grant deed | 10/23/2008 |
Q: Would my Mom be able to grant deed me her house if supposably she has a lein on her house due to a ...
A: I can honestly say I've never heard of a lien being placed on a home from a credit card. But your ...
|
| REVISE QUESTION ON COSIGN HOME | 10/20/2008 |
Q: MY FIANCE AND I BOUGHT A HOUSE TOGETHER IN 2004,HE COULD NOT GET FINANCE BECAUSE OF HIS BAD CREDIT ...
A: First of all, you state that your Fiance and you bought this house. Have you since gotten married? ...
|
| Pay off Home Mortgage | 10/9/2008 |
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 ...
|
| Title | 10/9/2008 |
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 ...
|
| Overpaying on mortgages | 10/6/2008 |
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 ...
|
| Chapt 13 with home loan | 9/28/2008 |
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 ...
|
| realestate | 9/26/2008 |
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 ...
|
| PAYING OFF ONLY COLLECTION ON CR | 9/16/2008 |
Q: PLANNING ON BUYING A HOME IN 6 MONTHS. I HAVE A COLLECTION FOR $155 ON CREDIT REPORT. DO I PAY IT ...
A: It depends on how old the collection is. If it's recent, pay it off. If it's really old, leave it ...
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| hard money loan against my residence | 9/12/2008 |
Q: I am wondering, I took a hard money loan from someone and it is against my current residence. I make ...
A: Well it all depends on what terms you and the lender decided on. The terms of the loan including pay ...
|
| quit claim vs trust in divorce action | 9/1/2008 |
Q: I am divorcing my husband in CA & we own two townhomes, he lives in one and the other is leased ...
A: I don't know much about joint trusts. My suggestion is to do the refinancing prior to the divorce ...
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| Affidavit of Heirship | 9/1/2008 |
Q: My mother-in-law has been living in a trailer with her dad. Dad passed away and said before that ...
A: I am not an estate attorney, and I don't know all the laws. What I do know is that when someone ...
|
| bank foreclosures | 8/26/2008 |
Q: I've been looking to buy property in Maine and the best buys are bank foreclosures. The Real Estate ...
A: You can get financing, but it's up to the bank as to what type of buyer they want. Many of them want ...
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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, I'm a strong believer in shopping around and getting at least 2 quotes from two ...
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| Rental Refinance | 7/14/2008 |
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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| short sale credit implications | 7/7/2008 |
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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| faster | 7/4/2008 |
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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| no one will refinance | 6/27/2008 |
Q: own 4 properties, trying to refinance to lower rate on our home (would help immensely), no bank will ...
A: it sounds like they won't give you a loan simply because you don't qualify since your debt to income ...
|
| Upside down mortage | 6/17/2008 |
Q: We own 55,000 more than what our house is worth. Is there any way out of this? What are out options?
A: You have three Choices. 1. See if someone wants to pay you some money and take over the note on ...
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| refinancing | 6/3/2008 |
Q: I am refinancing a 2nd home which is currently under an ARM. I want to secure a fixed rate and I ...
A: You have to understand that when you apply for a mortgage loan, and the lender or Mortgage Broker ...
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| Charge-off | 5/26/2008 |
Q: I have a house that was in foreclosure, now I have received a notification from the bank that the ...
A: Most likely what that means is that your lender no longer has control of the loan. Meaning, they ...
|
| federal irs liens - how long can they last... We are buying a new home: | 5/20/2008 |
Q: .. We are buying a home and using an FHA program. Our underwriter has only asked for one thing: She ...
A: most likely the lender is going to ask for some type of proof that you no longer owe this money. ...
|
| Home Appraisal | 5/7/2008 |
Q: We bought a new home. The appraisal is lower than the house value. Builder is asking us to pay from ...
A: In a situation like the one you are in, you have three choices. 1. Ask the seller or Builder in ...
|
| Selling house with VA loan | 4/25/2008 |
Q: We have a VA loan and refinanced in order to replace the heater and air conditioner, now my husband ...
A: You are going to have to contact the Veterans Administration. What you are asking to do is a "Short ...
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| Construction loan question | 4/25/2008 |
Q: I recently purchased vacant land with a construction loan to build a home. Because of the fact that ...
A: Your very lucky because there aren't many lenders out there that would lend you money on vacant land ...
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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: the answer to your questions is quite possibly yes. I know that Countrywide is notorious for ...
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| home buying | 4/15/2008 |
Q: I am interested to know if there are any programs to help in buying a manufactured home. I reside ...
A: What you need to do is find out what your parent's house is zoned as. It needs to be zoned "R2" in ...
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| refinance | 4/13/2008 |
Q: I am at the tail end of the refincance process with my current lender-CitiMortgage. I am 6 years ...
A: One thing I can tell you is, because of the current credit crisis from the subprime fallout, lenders ...
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| repo on credit | 3/17/2008 |
Q: i had my car repoed in 2004. on my credit report it states that it was a repo and they haven't ...
A: Well if you contact them and settle for less, your going to have to pay them a lot of money. That's ...
|
| Reducing Overall Pymt fo 30yr Loan | 2/28/2008 |
Q: I have my amortization schedule for the length of my loan. My question is how can I either month by ...
A: If you just made one extra mortgage payment a year, you would cut your 30 year mortgage down to 23 ...
|
| tranfer of mortgage | 2/27/2008 |
Q: I recently got married. My home in Indiana is in my name. The home in which we live in Ohio is in ...
A: Actually, you can go to an escrow company, and they might do it for you. Or one of those legal ...
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| tranfer of mortgage | 2/27/2008 |
Q: I recently got married. My home in Indiana is in my name. The home in which we live in Ohio is in ...
A: I'm not sure if the laws are different in Indiana and Ohio than it is in California where I live, ...
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| judgement | 2/24/2008 |
Q: My wife and I refinanced our ARM (today we signed all the escrow papers) and got a 5.5% FHA loan in ...
A: ok I understand. Well you did the right thing. If you file a dispute, and nobody responds, you ...
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| judgement | 2/23/2008 |
Q: My wife and I refinanced our ARM (today we signed all the escrow papers) and got a 5.5% FHA loan in ...
A: Well I'm a little confused at one thing. When I refinance someone and they have either a lien, or a ...
|
| Refinance undervalue property | 2/21/2008 |
Q: I co-owned a property in San Marcos, CA with my aunt. We're trying to work out a settlement where ...
A: I don't know of any lenders I work with that will re-finance a property that is upside down. So I"m ...
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| follow up | 2/18/2008 |
Q: I was the one who asked you about the commission splits for loan officers. I don't think I was ...
A: That is correct. Most good mortgage companies will put their loan officers on a split that is 70-80% ...
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| mortgage jobs | 2/16/2008 |
Q: I'm considering becoming a loan officer, but the idea of working on commission only forever isn't ...
A: well that's the trick. You want to price loans so that you make money, but also stay competitive. It ...
|
| mortgage jobs | 2/15/2008 |
Q: I'm considering becoming a loan officer, but the idea of working on commission only forever isn't ...
A: Definately in New York. Two of the most expensive states to live in and buy a home is New York and ...
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| mortgage jobs | 2/15/2008 |
Q: I'm considering becoming a loan officer, but the idea of working on commission only forever isn't ...
A: If you want to go into loan origination but you also want a salary at the same time, I would suggest ...
|
| VA Loan payoff from executor of will | 2/11/2008 |
Q: A family member was the executor for a frined of hers who had bought a house thru the VA. When this ...
A: I want to make sure I'm understanding you properly. Family member, lets call her Mary, basically ...
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| 100% financing | 2/9/2008 |
Q: Mr. Brent Me and my wife have found a new home and are in the process of getting qualified for 100% ...
A: the Nehemiah program is designed to contribute the 3% down payment necessary for an FHA loan. It's ...
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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: I don't know if there is a good answer for this. Certainly the government can get involved which ...
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| Mortgage Financing | 2/7/2008 |
Q: My husband and I currently have our main home on the market as we are moving out of state. We would ...
A: Many home buyers utilize equity in other properties they own for a down payment. So, no it shouldn't ...
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| mortgage points | 2/4/2008 |
Q: I have few questions about points that are charged in residential and commercial mortgage deals. ...
A: Most loan officers do charge at least 1 point. If they are a good loan officer, professional, and ...
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| Refinance | 1/27/2008 |
Q: Im in the middle of a master suite renovation and would like to refinance to take advantage of the ...
A: The issue is whether or not the lender will even lend on the property with construction/renovation ...
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| Mortgage type | 1/15/2008 |
Q: I want to buy a townhouse for my son (19 years od) in his name and mine to get a low interest rate. ...
A: once you close escrow, you can do whatever you want with the property. YOu can rent it, or live in ...
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| Home loan and the small business owner | 1/12/2008 |
Q: Bret, I started a small business this past May. I operate the business out of my home; no employees ...
A: I would say it's a possibility. If your company is in the same industry that you have worked in for ...
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| Mortgage Question | 1/12/2008 |
Q: I bought my first home with my ex-wife about 13 years ago. I am former active duty military and ...
A: first of all, once a V.A. always a V.A. and you can always apply for a V.A. loan, and they really ...
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| 1st Mortgage Foreclosed, 2nd Mort. wasn't paid off | 1/7/2008 |
Q: I live in Michigan, I tried to sell my home for a year but couldn't, I then lost my employment, ...
A: this is a very interesting situation. I can't say for sure whether or not they have a case against ...
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| refi on my home. | 12/20/2007 |
Q: The situation i'm in is that I can currently refi at 6.5% adn again, that would increase my payment ...
A: If your asking me whether or not your trying to wait and see if interest rates are going to drop ...
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| Short sale credit implications | 12/12/2007 |
Q: Like many others, I invested in FL real estate, was lied to and stolen from and now I sit ...
A: I'm sorry about your situation. Most likely the lender will not ask for any financial statements nor ...
|
| refinancing | 12/11/2007 |
Q: I'm currently in the process of trying to refinace my mortgage. I also have HLOC and the lender ...
A: I Carmen, I'm assuming what your saying is that you have two loans; a 1st loan which is the loan ...
|
| Purchase home | 12/3/2007 |
Q: I'm looking to buy a new home and need a loan. I'm looking for 100% financing. Right now if I buy ...
A: First of all, I wouldn't recommend doing 100% financing in this market. Real Estate experts are ...
|
| FHA | 11/27/2007 |
Q: If I wanted to buy a house that costs 150,000 and I was wanting to get a loan for half of the price ...
A: First of all, if I am understanding you correctly, it sounds like you and your father want to obtain ...
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| FHA loan and Co-borrower | 11/26/2007 |
Q: My boyfriend is interested in purchasing a home for 150,000. It is well below it's appraisal value ...
A: the answer to your question is yes, posibly. FHA loans allow for lower fico scores, and multiple ...
|
| Mobile Home Title | 10/30/2007 |
Q: We bought a piece of property and single wide mobile home from Benefical Finance. In 2004 we paid ...
A: just to let you know, I am not a mobil home specialist as we do not have the ability to finance ...
|
| Refinance or not | 10/25/2007 |
Q: I would like to know what is the best route. Should I refiance or not. I have a home valued at about ...
A: I think its great that your looking into utilizing the equity in your home to consolidate debt; many ...
|
| foreclosed home, how to save it | 10/24/2007 |
Q: To be honest I have had a real hard time of things. I spiraled into a really bad depression. In the ...
A: First of all, I"m sorry your going through a tough time. With that being said, I will tell you I am ...
|
| selling home purchased via fha loan | 10/11/2007 |
Q: I am trying to sell a home that I purchased with an fha loan(~7years ago). Is it possible without ...
A: I don't know the laws in Texas but you shouldn't have any penalties that I know of. You might want ...
|
| First Time Home Buyer | 10/8/2007 |
Q: I own a home in Texas and want to buy a home in California. Do i qualify for First Time Home Buyer ...
A: You do not qualify for a First time home buyer since you currently own a home now. It doesn't matter ...
|
| Should we payoff our home mortgage? | 10/7/2007 |
Q: Currently, I have an $84,00 mortgage with a home value of $500,000. I have re-financed 4 times over ...
A: Steve, there really is no right or wrong answer to this. My suggestion would be to consult your CPA ...
|
| 15 vs 30 year mortgages | 9/26/2007 |
Q: I have a home that has a 30 year fix mortgage at 6%. I have about 28 years left on the mortgage. I ...
A: at this point, I would keep your current loan. You have a good rate, and unless you need a higher ...
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| rolling closing cost in loan | 9/20/2007 |
Q: I'm a new loan officer in Atlanta GA, I have a client that is buying a home for 180k and it ...
A: Basically you can't do what your trying to do. Because, although the property might have appraised ...
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| FHA Loan | 9/16/2007 |
Q: I am looking to purchase a 4-unit property upstate NY through a FHA loan. I was wondering what the ...
A: I Ken, Unless you have a minimal down payment, FHA really isn't the way to go. I"m not sure what ...
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| MORTGAGE | 9/11/2007 |
Q: Will the banks give a mortgage to someone if they have a very bad debt/income ration but good credit ...
A: Well it depends on whether or not your self-employed or a w-2 employee. If your self employed, the ...
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| MORTGAGE | 9/10/2007 |
Q: Will the banks give a mortgage to someone if they have a very bad debt/income ration but good credit ...
A: normally fannie mae and freddi mac loans, have pretty strict guidelines when it comes to debt to ...
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| Getting loan for first time buyer/Police officer | 9/9/2007 |
Q: Need info on which leading companies should I look at to acquire a loan for a first time buyer who ...
A: Having almost become a Police Officer myself, I completely agree with your statement about Officers ...
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| Pre-approval | 9/6/2007 |
Q: my girlfriend and I are buying a home. We were approved for a mortgage and signed a contract. Our ...
A: Right now, 100% financing loans are almost all gone. And those lenders that are still doing them can ...
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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: First of all, I'm sorry to hear about the divorce; that is never an easy situation. As far as ...
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| HOMES | 8/28/2007 |
Q: CAN YOU BUY A HOME FOR JUST BACK TAXES OWNED ON IT AND THERE NOTHING ELSE OWNED ON IT.
A: The answer to your question is yes. Actually a homeowner can sell their house for whatever they ...
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| Refinancing from a Trust | 8/24/2007 |
Q: My Dad passed away in June '07. He signed his trust over to me before he passed away on his lawyers ...
A: In order to obtain a mortgage loan you always have to transfer title out of the trust into your own ...
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| Retirement financing | 8/23/2007 |
Q: Presently work full time and plan on retiring early 2008. Loan applications ask about employment ...
A: First of all, I'm assuming your a wage earner or salaried employee. If not, then please correct me. ...
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| quit claim | 8/21/2007 |
Q: If I quit claim the house over to my ex husband does that make him responsible for any unpaid taxes? ...
A: First of all there is some information I need in order to give you an accurate answer, but I will ...
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| mortgage | 8/8/2007 |
Q: How do you shop for a mortgage, for a first time home buyer? Apparently, every time I enquire about ...
A: The best way to shop for a mortgage is to start by getting a referral from someone else that has had ...
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| mortgage question | 8/8/2007 |
Q: I have no idea what is mortgage. and if I decide to buy a house on a Mortgage plan, can I sell it ...
A: When you purchase a home and secure a mortgage, you are obligated to repay that loan back based on ...
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| refi? | 8/2/2007 |
Q: I hope you don't mind my detailed question but here it is. About a year ago, I refi'd my house and ...
A: Unfortunately your in a classic situation that many other homebuyers got themselves into by buying a ...
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| disclosure | 7/10/2007 |
Q: Below is an advance fee disclosure on my mortgage application. My question is if I put money down ...
A: A lot of mortgage companies have similar disclosures, and as far as I'm concerned they are all bogus ...
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| first time home buyer | 6/28/2007 |
Q: maybe theres a better loan out there for me thanks ANSWER: Hi Chris, The majority if not all ...
A: what you need to do is meet with a loan agent and have him/her pre-approve you. I am happy to do it ...
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| first time home buyer | 6/28/2007 |
Q: maybe theres a better loan out there for me thanks
A: The majority if not all First time homebuyer programs requires that anyone that applies for the loan ...
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| Interest Rates | 6/25/2007 |
Q: I am trying to figure out how to read trends that lead to interest rate increase or decrease. I ...
A: I can tell you that a lot of your questions need to be answered by a Financial Consultant, however I ...
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| Deed in Lieu | 6/19/2007 |
Q: I need facts. I've been online about this subject for months and can't seem to get a straight ...
A: Well a short sale does not have a "good" affect on your credit report at all. In some cases it says ...
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| Deed in Lieu | 6/19/2007 |
Q: I need facts. I've been online about this subject for months and can't seem to get a straight ...
A: Basically, yes you do have to pay taxes as far as I know. Now I'm not an accountant and you should ...
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| 80/20 | 6/8/2007 |
Q: I got approve for a loan which is 80/20. I'm doing closing at the end of June. I realize that on ...
A: Ok I figured it was home insurance not Mortgage Insurance. And no it shouldn't be on both. What they ...
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| home mortage | 5/25/2007 |
Q: were selling our house and hope to have a profit with the funds we will buy another house do we ...
A: One of the first things you need to do is get pre-approved for the new loan on the new house your ...
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| Home Loan | 5/23/2007 |
Q: I work in law enforcement as a police officer in los angeles, california. I would like to know as a ...
A: There are loan programs specifically designed for Fireman and Police Officers, however, they require ...
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| refinance appraisal | 5/16/2007 |
Q: I own 10 aces with 2 lots /5 each. The residence is on 1 lot, the driveway runs thru both lots, the ...
A: your certainly not wearing out your weclome at all, this is what i'm here for. Basically everything ...
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| refinance appraisal | 5/14/2007 |
Q: I own 10 aces with 2 lots /5 each. The residence is on 1 lot, the driveway runs thru both lots, the ...
A: My advice is get another appraiser. You hired a professional appraiser and there is no reason they ...
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| refinance appraisal | 5/12/2007 |
Q: I own 10 aces with 2 lots /5 each. The residence is on 1 lot, the driveway runs thru both lots, the ...
A: I need a little more information before I can give you a full answer. First of all, how long ago did ...
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| Mortgage Loan HELP!!! | 5/3/2007 |
Q: I am in a very bad situation. My boyfriend owned a home for 3 years. We wanted to get money to fix ...
A: First of all I'm sorry your going through a difficult time. I need a little more information from ...
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| Remodel of an Old Church | 5/1/2007 |
Q: We are trying to get financing for an old church that we turned into our home. We have gotten an ...
A: Unfortunately it can be difficult to get financing in your situation because it is not considered ...
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