 Buyer wants to purchase my condo overpriced. I pay closing? |
I have a 1 br condo that has been on the market for $169,900 in Southern California. It's vacant and very clean.
I received an offer for $177,000 but the buyer wants me to pay a ... |
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 Does putting my name on the deed of a home that my parents own make me a part owner as well? |
| I know all this has to be written and I know that it needs the consent of the people on the deed but my question is if I do get consent and it is written, and my name is added to the deed, will that ... |
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 I am trying to buy a home and having trouble getting my contract approved even though my credit is okay? |
| It is a mega-find. The seller's were only asking $50,000 and it's perfect. The appraiser didn't know much about what he was doing so he appraised it the same as the purchase price (... |
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 Do roach bombs take care of American cockroaches? |
| We called our realtor who's our property manager and told her about the new roast infestation that cropped up after only 2 days of living at our place. She said she was going to swing by and ... |
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 How do you set up utilities? |
| Im getting my first apartment and the utilities are not included. Where do I go to get them? Should the apartment have that info or do I have to set everything up myself? Do I just look in the yellow ... |
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 What does APR stand for in regaurd to intrest rates? |
| I dont know and this seams like a way to get a fast ... |
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 Can you sell your house for less money than it's worth, and how much less? |
Here's the scenerio:
My husband and my mother bought a house for $183,000. The house is valued at $200,000 today. When they purchased the house, it was only put in my mother's name, ... |
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 Can't afford my investment properties? |
| Have three investment properties that I can no longer afford. I invested in real estate over the last three years and I can no longer afford my houses. I am disabled and now am on a fixed income. I ... |
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 How do you overcome first-time buyer's fear? |
| My husband and I are getting ready to make an offer on our first house. We were very lucky: we only had to tour half a dozen or so before we chanced upon one that is a perfect fit. I know this is ... |
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 I pay rent to the lady upstairs from me who is suppost to be the landlord but i dont think she is. read below? |
| ok well i moved in 1 year ago and everything was going fine the "landlord" lives upstairs alone but heres the thing. We asked her if we could have a dog she was like i have to ask my ... |
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 We have no choice but to foreclose on our home. What will we still be responsible for if we walk away? |
| We purchased our home for 420K over a year ago. Planned to refinance and lock into a better loan. Unfortunately, when we went to refinance the value of our home went down conciderably. Worth only 300K... |
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| When People Signed Sub-Prime Mortgages Did They Look at How Much Their Payments Would Like Be After Resetting? |
I would hope that people paid attention to how high their payments were likely to be after the first reset.
And, more importantly, I hope people looked at how high their payments might end ... |
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 How can so many people afford expensive homes and nice toys?? |
| And I'm not talking about million dollar homes on the ocean either. From coast to coast, towns large and small. there is always the neighborhood in every single one of them where people own $250... |
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 My landlord has a repossession order on his flat and we are sitting tenants what can we do? |
Additional Details
we have paid the rent regular each month and now the landlord has had a court letter saying the mortgage agency are repossessing the flat next month and he has to ... |
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 Mortgage scam/Bank fraud? |
The daughter of a dear friend of mine has gotten herself in some pretty deep trouble and claims innocence. See link.
Is it possible that anyone involved in this may not have known what was going ... |
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 Is it possible to move out of my apartment without penalties? |
| My roomate and I moved in at the end of July but we still have not signed the lease the landlord gave us. I still have both copies we were supposed to sign and I've seen the landlord plenty of ... |
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blinkchick765 | Mortgage refinance? |
My husband and I bought a house in October with a no documents loan and ended up having to split our mortgage and have two smaller loans. Our mortgage servicer recently called and said that they have been unable to sell our mortgage and would refinance our loan at no cost to us. The woman I have been talking to said that they could combine our two loans and get us a better interest rate...sounds great
But is this legitimate? Is this something that I should be concerned about or is this something that happens often?
Additional Details
We still owe about 94K on the original loan and they are trying to combine both the loans. Overall it looks like it will be good for us because we'll have one loan instead of two and our interest rate will be lower...can we just tell them not to refinance? How does that work? Our loans are crap right now so it wouldn't take much to make it better for us |
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CommonCents
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It is true that they may not be able to sell your loan.
That isn't your problem.
The servicer is just servicing for whoever owns it today.
You may have an 80% 1st and a 20% 2nd (If you did 100% financing)
It certainly IS possible that a different loan will be easier for them to sell, but you aren't going to know if it is better or not.
Do they want to refinance both your 1st and 2nd into one loan OR just refi your 2nd ?
You need to get some straight advice from an independent consultant. Find out what kind of loan they want to put you in and post the info here.
Also post your current type of loans and interest rates and payment amounts, AND what your proposed loan, term rate and payments will be.
You can only get the right advice if your provide ALL the info.
You are NOT onligated to refi your loan. Many loan originators cannot sell 2nds today. Usually the 1st isn't the issue.
If you are happy with your loan, don't be pressured.
What state are you located in ?? |
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Jas
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I have worked in the real estate business for over 10 years and have never heard of such a thing happening -- but that doesn't surprise me. I would be suspicous because they can't sell your loan. I would wonder what makes it so undesirable to other lenders. They obviously want you to refinance it to make it easier to sell - hence they are probably trying to make your loans more profitable. On the flipside it could be because your loan is less desirable to lenders because it is too large of an amount based on your home value and maybe they are willing to cut you a deal to unload it. In either case it is probably legit - just be really careful about the loan term, rates, payoff penalties and any other possible costs. Ask them what they charge now for escrow services, pmi (if you have), and what the fees will be. |
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John M
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just get all the information and make a decision based on the total cost of the loan over its full term |
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Alterfemego
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Sounds legit, just make sure she put's it in writing before you sign anything. And make sure she isn't putting you into an adjustable or interest only loan.
You might also check around for rates. Someone might have something better. |
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