mortage loan - second refinance

Q&A: loan modification or refinance service charge?

admin — Mon, 06 Feb 2012 19:50:29 +0000

Question by : loan modification or refinance service charge?
how much is the average charge of mortage company to modify or refinance a loan?

Best answer:

Answer by George L
If you are a struggling homeowner unable to make your current house payments, you are in need of loan modification help. If you are in this position, you may have seen one of the many loan modification companies that advertise that they can help you get a loan workout. However, when you call them up they want you to pay anywhere from $ 1500 to $ 5000 upfront before they will even start on your application! This is outrageous and can’t be legal, can it? The answer is…it depends.You can get the more best solution from here http://www.iloanshop.com/loan_modification_stop_foreclosure.php……!Good Luck….!

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Why do my Taxes have to help bail out the mortage companies?

admin — Tue, 31 Jan 2012 19:49:08 +0000

Question by ♥STREAKER♥©℗†: Why do my Taxes have to help bail out the mortage companies?
Why do the american ppl’s taxes have to pay to help bail out mortage companies that make bad loans? It’s not fair to me, when I make my payments, and it isn’t fair to the ones that make their payments.What’s your take on this?

Best answer:

Answer by spooty1
they pay the law makers so the law makers make sure they stay afloat

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Q&A: Do you know any mortage companies who deal with low income home buyers in NE Ohio?

admin — Sun, 29 Jan 2012 19:49:56 +0000

Question by : Do you know any mortage companies who deal with low income home buyers in NE Ohio?
I am looking for a mortage company in North East Ohio who deals with low income,first time home buyers.My credit is fair and I am looking for someone who is familar with all the programs I may qualify for.Have you gotten such a loan and where? Thanks….P.S. My parents are losing their home due to extreme medical problems so I really need to find a place and have heard If you can rent you can own a home.

Best answer:

Answer by General D. Ypsilanti
it sure is worth a try. I think all lenders are required to work with you. Visitseveral and ask questions and make notes. Some government agencies may beable to offer more help. The banks may be able to tell you who to deal with.

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What is the Benefit for a seller of home to want the closing rolled into the mortage?

admin — Fri, 27 Jan 2012 19:51:01 +0000

Question by tomwilla: What is the Benefit for a seller of home to want the closing rolled into the mortage?
We are buying a house the seller wants the closing was rolled in to our mortage, I understand how this could help the buyer if they do not have the money to put up front. But how would this help the seller?

Best answer:

Answer by Ruby
nothing really. it just assures him that the deal will push through, knowing that the folded costs are rolled into the loan, the seller does not have to worry at closing that the buyer will emanate with no check or money at all

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Q&A: Refinance mortgage if behind on payments?

admin — Wed, 25 Jan 2012 19:49:30 +0000

Question by fin73: Refinance mortgage if behind on payments?
I lost my job and was out of work for seven months. I got behind on my mortage payments and am on a pay plan at the bank.Will they let me refinance? I only owned the home for about two years? What is reconfirming your lend intend? Please help!

Best answer:

Answer by Pojo
Forget the moron who answered right before me, he or she tin not even read.If your credit is hot over this your refi will be sky luxuriously interest rates even if you can get a refi.

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Is it normal for a mortage company to want to look at income taxes and work sheets?

admin — Mon, 23 Jan 2012 19:50:04 +0000

Question by Venshore: Is it normal for a mortage company to want to look at income taxes and work sheets?
The mortage broker asked for our federal tax work sheets and proof we paid taxes for 2010. Red flags are coming up because he wants us to scan them to him with our ss numbers and date of birth on the sheets?

Best answer:

Answer by anonimitie
None of what you’ve described is retired of the ordinary.

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Q&A: what is the best mortgage in order to refinance ?

admin — Sat, 21 Jan 2012 19:52:05 +0000

Question by im M: what is the best mortgage in order to refinance ?
i have lets bad to ok credit.i tried to do an application with my current mortgage but they told me i couldnt do it because something about percents.and they also told me that if they couldnt get me approved no other mortage could ?? who knows if this is true or not.but i was wondering whats a good mortgage to refinance.my current mortgage is household finance,.

Best answer:

Answer by Reapor-ted!
the percent they were speaking of was either your DTI (debt to income) or your LTV (loan to value) ratio. if either is too high then there’s no point in doing a refi since you really wouldn’t gain any headway from doing it. this coupled with your less than perfect credit is probably why you weren;t approved for the refi. also, were you using a lender or a broker? lenders have very few plans to service you whereas brokers have dozens of different plans to suite you.

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Is it possible to refinance your home in the middle of a remodel?

admin — Thu, 19 Jan 2012 19:50:00 +0000

Question by jhousnet: Is it possible to refinance your home in the middle of a remodel?
I have a 1st mortage and a HELOC and unfortunatly have run out of funds to complete my intercommunicated (maxed out the HELOC and Credit Cards). I’ve got less than $ 10,000 worth of served left on the house and would like to refi, but the broker and lender I’m working with told me that I have to consummate certain things before I can refi (ex: countertops in the kitchen, trim work and some drywall work).I thought I’ve heard of populating refinancing in the middle of projects. Am I wrong?

Best answer:

Answer by stepup1895
yes, but you must show them the plans and models of what it will stare like and get a real estate agent to give you an idea of what it could be deserving on the open market

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Q&A: my ex wife was to refinance and get me off the mortage , can she do an assumption?

admin — Sun, 15 Jan 2012 19:50:35 +0000

Question by dbk1234: my ex wife was to refinance and get me off the mortage , can she do an assumption?
she is trying to force forclosureHeres the details and time line. 2008 divorce in which house was given to ex wife. She had 120 days to refinance. She never attempted to refinance. She did pay the mortgage on time so it is current with Wells Fargo. Now, June 2011 she is remarrying . She has the house for sale $ 125,000 which is too high and the mortage is at $ 120,000. Wells Fargo has said she can do an assumption but she has to fill out the paper work and go through impute follow, remember it has been paid on time since 2008. She has not done this, levelled tried. Her new finance says do a short sale , they don’t want rental property, or they will let it go into forclosure. . She is in contempt of the divorce aggreement. Doing a short sale and forclosure will affet my credit and she does not have to. . Payment history has shown she tin pay the mortgage. She has not tried to forfill the divorce agreement of 2008. Once married, the house could be painted and rented and would produce additional income for her until the

Best answer:

Answer by Jim
Why would she try to force a foreclosure if she wants to refinance to get you off the mortgage? That would just put her in a worse overall position.She can’t do an assumption, unless the mortgage is assumable, which it probably isn’t. And even if it was then she would essentially be purchasing the home and taking over the mortgage and winning out a new loan anyway.If she is in fact trying to force foreclosure, then can I assume that you’re late on the mortgage? If you’re late on the mortgage she may not be able to refinance. Typically you can’t have any mortgage lates for 12 months straight before you can refinance. Also if you were belatedly that has probably significantly hurt her credit, so she wouldn’t be able to qualify anyway. Even if she was able to assume the mortgage, she would have to qualify with her imputing situation.Something is not adding up, if you have any more info you should add it, and I tin try to give more advice. I’m in the biz and I’ve seen divorce situations a million times some go ok and others are nasty.EDIT: That’s a roughly situation. You probably should have followed up with this back in 2008/2009 when the 120 days was up, but you don’t require me to tell you that. If I were you I would contact the attorney and handle everything through the courts. You’re right she’s in contempt of the divorce decree, and she doesn’t appear to care. Go to the attorney and fight it in the courts. There isn’t much else you can do. On one hand you lucked out because the property isn’t yours any more. She got stuck with a house that she can’t sell because she’s upside down after realtor fees. Now she’s kind of holding you hostage in this situation.

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Q&A: Refinance vs. Paying off Mortage?

admin — Fri, 13 Jan 2012 19:49:26 +0000

Question by siriuset: Refinance vs. Paying off Mortage?
I’m 8 years into a 30 year fixed rate mortgage. I could save 500/month if I refi to another 30 year loan. This would help with upcoming college expenses, but would obviously detaining paying off my house. Is this a good idea?I’m the father of two teenagers. Two years from college on the first, and five years from the other. I’m 47 years old and expect to work until 65 (or later if poss.) Don’t want to plan on the kidding paying at all for their college.

Best answer:

Answer by RetiredDebtFree
Not adequate info for intelligent feedback. You would cash out? How old are you, and years from retirement? College for you (great) or children (not great). (I’m a big believer in kids working their own way through college.)

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