 Real Estate Question? |
| My husband and I are currently house hunting for our first home. A few of the houses we are looking at are out of our price range, and we are thinking of trying to talk the sellers price down. Our ... |
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 Is it legal to have someone take over your lease? |
| Are there different laws depending on the State you live in?... |
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 Can my mortgage be denied after underwriting and commitment? |
| My husband and I are purchasing a new construction. As a part of the contract, we were required to submit a pre-approval letter at the time we signed the contract. We also were required to submit a ... |
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 Family and Real Estate Dilemma? |
| My family is losing their home. they can't pay the mortgage. They want me to buy another home as a first time buyer so they can move into it before they lose their house, they will pay for the ... |
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 My neighbors curse, scream, and fight....? |
| Is there anything that I can do? I have a four year old son. The cops were here the other night. We live in a garden apartment, and they moved in in May I think. I mean, they go at it ALL NIGHT LONG. ... |
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 Does a roommate have a legal say in the permanent replacement of a 2nd roommate? |
First off, please don't give me your opinion, unless it is backed by reference to a legal document...
If 2 people live together...they sign a lease, with intentions of them both ... |
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 I'm having to move because of landlord problems? |
| im beng taken to court because of not paying the rent.but thers asbestos,roaches rats,and the sewer backs up in the back yard.he says that ill have to pay or be evictid.what do i do,and where do i go?... |
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| We were told by a mortgage company that buyer of our home was approved & home was going to close, but has not. |
| Is there any contract or anything where a mortgage company employee says that the mortgage was approved by an underwriter & the home will definitely close? When there is no closing and the ... |
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 I got a free house in april need help? |
| i got a free house in april becuases my dad is going away for work for 2wks, but my neighbours keep watching me, there is three of them that keep watching me. i want my boyfriends and friends to come ... |
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 Preparing to get our first mortgagae.? |
| My wife and I are preparing to get buy our first house which also means that we are preparing to get our first mortgage. What kind of interest rate should we be looking for? Should we go to several ... |
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 Whats the best way to get started in flipping houses for profit? |
| I watch flip that house and the real estate pros all the time, I think flipping houses would be fun and I know the income great but how would I get stsrted? Anyone know?... |
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 Can I leave husband off of title to house? |
Married. Live in IL. Do not want his name on the title.
Additional Details
Buying a new house.... |
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 Renters' Rights? |
| Do you have any good online resources for information on renters' rights? In Nov. 2005, I moved in with an old friend who owned her own home. In Feb. 2007, she gave me a letter that stated, &... |
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Brandysmom | Mortgage - If Bank Goes Under What Happens To Borrower? |
If your Mortgage Lender Defaults what will happen to the borrower?
Ok, They will try to sell your loan. Can they demand payment in full (call the loan?) Are there any legal protections from the government.
What will be the effect on the Economy? Are we looking at another "bail out" like what happened with the Savings and Loan Scandal in the 1980s brought on by deregulation???
Worried in Connecticut. :( |
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motochic467
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It will be sold to another lender and you will pay the same amount. |
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shant
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Get valuable tips on mortgage from http://moneymentor.cashmatter.info . It's a very useful website. |
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Thomas K
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Your loan will not be callable.
Your loan is an asset and banks don't file bankruptcy and go away. They get gobbled up by the bigger banks.
Your loan will be sold to someone and your terms will remain the same. If, and this is a big if, something does happen, you can always refiance. |
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packinrat
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They get bought. Unless you are in default nobody wants to call you loan. Most of the value in your paper is in future interest. It (and you) will be sold to the highest bidder who will most likely try to get you to borrow more from them not less.
The bank is in default not you. You are worth money to the creditor who is foreclosing on the bank. You will most likely be sold to another bank.
What you may not know is your loan was probably sold long ago and is probably owned by Fanniemae, ginnemae or freddiemac now. Nothing will change. |
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NY PTK
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You will be fine (99% sure), as the company's loans will get bought out...I am assuming American Home Mortgage.... |
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Sales Girl
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My neighbor is a broker and she thinks there will be a bail out in the next two years. I dont think it is as bad where u ive but in Ohio we are going through alot of bad lending issues.....I know they usually have people who take the loans over and it will not affect you! |
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Valarie R
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I work as a Lending Consultant, and there is absolutely nothing that can happen to you. Your loan is protected with the RESPA disclosures that you signed.
Just because a Lending Company closes their doors, does not mean that they will sell your loan, at times you will have Companies that have to stop funding loans, but still are servicing their loans. They to have debts to pay to the investors that have backed them.
However IF your loan does sale, they can not change the terms of your loan, unless stated in you loan, for example and arm or balloon that you might have signed when you originally signed for your home note. If I am not wrong, you have to be given written notice of the transfer 20 days prior to the transfer, and with this you are in a protection of payments during the first 60 days of transfer. What this means is that as you are getting situated with the new Lender and they are getting your file transfered to them and all of the documents, if you do become late it can not be placed on your credit as negative reporting, during the time of transfer. DO make sure that you look throught the welcome letter and watch for any letters that will be coming, for example you Insurance information to make sure that it is switched over to the new Lender, and that there are not owed back fees with the past Lender, if there are back fees, the new lender has the right to collect on them and many times will divide them into a month break down to be paid over a period of time. Again no matter what you do on your home loan, the rate and term can not change, unless you had an adjustable mortgage to begin with. The only thing that can change is if your Ins., Taxes or other owed fees changed, which can change yearly. If the new Lender does change anything you have the right to call and get exact information as to why, and stay on top of it until you get a break down of why they changed your fees. If it does not seem right, you can make a complaint, and should do so immediatly. |
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Your Property Path
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Assets will be bought by other institutions at a discount. Your payments will be made by you to a different institution.
Yes, I think the watchdogs have failed again and most independant mortgage lenders are gone for good |
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