Archive for April, 2009
INFORMATION I MEANT
My question is an all-too-familiar one-my aunt and uncle fell behind on ONE mortgage payment and if they don’t pay up they will be out on the street in January. Can you give me a credible website where I can obtain information on what they can do to prevent foreclosure proceedings; including getting an extension on paying the bill or filing for bankruptcy. They’re in the Midwestern U.S. and my uncle is on Social Security as well as working part-time (they won’t hire 50+ people for good full-time jobs so he had to take early SSI and take what part-time work he could. My aunt works part-time as that is what is available to her. Serious and non-judgmental answers only-it’s the Holiday Season.
Long story short… Bought a house (2 people), refinanced it into my name only after a year. We broke up, I left. He decides to not cover the payments anymore. I dont find out until I get served foreclosure papers…
What are my options that will least affect my credit?
* foreclosure
* deed in lieu
* short sale (and how to go about that)
* work out package to keep the house (mind you i dont live there and dont really want to)
* How long if I do the deed in lieu will the person living there be in the house
* Last but not least.. the other person on the deed is not on the mortgage via quit claim deed last year, how will all this affect his credit, as I know he is in the process of buying a house (bastard lol)…
Thank you veryyyyy much!!!
I need the best way out because I want to buy my own house in the near future…
SORRY– I made a mistake… I signed a quit claim deed not him… stupid mistake huh…
How did I take out a loan for $25k and now owe them over $32k when I make my payments on time every month??? I was told by two separate institutions now that this is one of the problems Wells Fargo is facing for predatory lending (along with mortgages). Any guidance you can provide to help get my interest rate DOWN and FIXED is greatly appreciated.
Thanks!
Sorry, StarDust, but you must not understand private student loans! I haven’t seen a private loan that is fixed. The majority are variable rates with floors and no ceilings (opp. of federal loans).
Also, the difference is NOT interest. I am financially savy and I know how interest works.
For example: I borrow $25k and make a pymt of $400/month of which $325 is interest and $75 is principal. However, my loan amount should go DOWN by $75, not UP.
Other answers/suggestions/comments are requested.
I bought a home that cost $325,000.00 even though it went against my better judgement. My wife (who I was only engaged to at the time) was the one who made the offer on the house. Her credit wasn’t terrible, but it wasn’t that good either. Her debt was hefty. So our loan officer recommended that we take out the home loan in my name even though we sought a joint account. I took his advice and next thing I knew she took off. (I only accepted the loan knowing that when my wife sold her home and paid down debt she would provide a second income and we could refinance for a better loan and a way better interest rate) Now I own a home that I can barely afford based on my income. But incidental expenses aren’t worked into these subprime mortgages. My only options are a short sale, a deed in leu of foreclosure, or foreclosure. Please respond only if you have advice about short sales. Anyone who wishes to sound off on ppl in mortgage crisis’s — write me bartlebyonline@yahoo.com.
My house was broken into and a lot of stuff was stolen. I have Home Owners Insurance, but I was wondering if these companies are good at refunding what you lost or if they undervalue a lot. It was mostly electronics and guns that were stolen. I have some receipts, some were gifts, and some were old and I have since lost the reciept. What is their process and do they typically resolve these issues amicably?
Just thinking if I should include it into my policy.
I’ve already got $500 deductible in comprehensive as well as $500 deductible in collision.
I’m also not sure about loan/lease payoff - currently I don’t have any coverage on this.
Checking on local area in Houston County Texas where someone can apply and obtain a reverse mortgage on their home.
Can the broker hold a loan officers license while a commercial loan is in the pipeline. When the loan officer does not want to close with the current company? also, can i move the loan to my new company?
