 Ok whats the catch and anyone hear of this? |
| In my mail box is a check for 2150 dollars from my mortgage company. Its like the lottery but too good to be true thought and i hear of all of this dishonesty banks are commiting. I called my ... |
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 If I put a loan in rescission Thursday, when does it come out? |
| My coworker is signing papers on a home equity loan and she is telling me she can get the money Monday, but I don't think she can get to it until Tuesday, who is right?... |
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 New home being built. Where do I find the best loan? I have FICO score over 750 and I am 1st time home buyer |
| I do not need help with down payment but I would like closing cost paid. I understand if you are an employee at the bank, your closing costs are paid for you. I am not an employee of the bank, but ... |
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 If I Paid Rent for 12 Months Up Front...Could I Get an Apartment w/o a Co-signer? |
if i was signing a 12 month lease
and i did not have anyone to co-sign to me
do you think if i paid for the full 12 months up-front that i would get the apartment
i'm going away ... |
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 My husband and I would like to buy a $200,000 house. Can we get a mortgage in our situation? |
| My husband makes $30,000 per year and he will soon be changing jobs to become a corrections officer making $49,000. His credit score in the mid 500s. He only owes $2,000 in debt. We will be paying ... |
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 How likely is a residential real estate crash? |
| My home is in Littleton, CO -- a standard 3 br 2 bath jobbie in the burbs. I keep hearing about a pending real estate (and then maybe economy) crash. How likely is this? If there is such a crash, ... |
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 Do you have to pay a landlord rent after they've sold the building? |
| My landlord sold the building I live in and I still owed her money. Instead of asking for the whole amount she only asked for a peice of what I owe her and then told me she sold the building. I just ... |
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 My Landlords (house is in both names) are getting a divorse!? |
| I currently rent a house from a couple and they are now getting divorsed. Both individuals have contacted me and told me to give only Him/Her the rent money from now on. How do I make sure that i don&... |
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 How can I prove my rental history...? |
| How can I prove my rental history to other landlords if my only rental history is that I've rented a room from a friend who owns their own home and lives in it as well? I've been here for ... |
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 What happens if I break my tenancy agreement? |
| I'm 4 months into a 6 month tenancy agreement. And it's been hell. The people I share the house with are disgusting, they have people around all week, getting drunk, being ill, spilling ... |
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 Should I refinance with a fixed rate? |
| Me and my husband got a house last year for 69,900. My mother in law pushed us into the house & insisted that we go through a bank with a variable rate. Now with all the forclosures I am ... |
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 How much does a buyer's agent take from the average residential sale? |
| | am considering purchasing a home that is currently vacant, been on the market for four months. The seller's realtor is suggesting that I use him as a dual agent. Hmmm..... I met him during an ... |
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 Nightmare UK Landlord? |
I hope you can help..
I have lived in a shared flat with 3 others, including a chap who co-owns the property with his uncle. He has never sorted out a written tenancy agreement although ... |
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VMDquestions | What is the best thing to do when you are behind on mortgage payments and you can't re-finance? |
no re-finance because of Bankruptcy
arm loan is up and interest going up to 9.39% and every six months after that up or down a point. |
 |
 
Blue October
 |
well, let me tell you this is happening to my son right now....he has tried to sell the property but with the market being so down and falling more every day...he has been unable to sell. as of april he defaulted and on august 18th his home will be auctioned off.
you could let it go into foreclosure and walk away...that is happening everywhere right now. you will be able to purchase property again (federal law gives you that right 24 months after foreclosure date).
you should also contact your mortgage co. first and see if they can offer you any assistance.
lastly, let me suggest ---do not accept any of these offers on the internet where they guarantee to REFI you.....it will again be a scam similar to the Arm and you'll be farther down than you are now.
what you are looking for is a refi with a 30 yr fixed no early prepay penalty and this is really hard to find in this market right now unless you have exceptional credit.
good luck and stay away from the scammers. |
|
Expert Realtor
 |
Call the lender and let them know that you absolutely cannot do those payments, and it will force you into foreclosure. I would speak to the loss litigation department and they have very broad authority to help you.
Foreclosure is expensive, and so is moving.
Try that as a last ditch effort before selling and see if it works.
I wish you luck...anyone can find themselves in that situation. |
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linkus86
|
For the sake of time I suggest speaking to the lender directly to see if immediate arrangements can be made. If purchased as an FHA or VA loan, talk to them too.
Second, put the house for sale immediately (the same day you speak to the lender) and price the house below market value, but just above Realtor commissions and loan payoff. |
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J k
|
Did you already speak w/ a lender? If your bankruptcy was more than 2 years ago it shouldn't affect your application so long as you show that from that point on you've been taking care of your bills. I suggest you call your lender or one you feel comfortable with and ask about their different programs. Hopefully you will be able to refi. If not, you may want to consider getting a Realtor quick (if you're in CA call/email me) and listing your property before things get worse. If he/she suggests a short sale, where the home would sell less than the amount you borrowed to buy it, you would need to have your Realtor contact your lender w/ your permission, and obtain the needed paperwork for a short sale. It's almost like doing a loan app, plus you'll need to write a letter to them explaining why you can no longer afford the payments. A short sale will save you from foreclosure w/out hurting your credit like a foreclosure would. Good luck |
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jordteic
|
Short Sell.
This is pretty much a damage-control way of taking care of an issue like you're in. When you Short-Sell, let the lender know that you can't make payments and you want to sell. You may sell the house for less than you owe on it, and you may possibly not make your money back, but those are always risks your bank and you take with real estate.
This way, your credit won't go down again and a bank doesn't want to go through a foreclosure if they don't have to. |
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Bird Questions
 |
I would consider the following:
Selling your home. Cash in on any retirement accounts. Ask family for help. Have your family or friends purchase the home for you and you make payments to them...since you have bad credit and would pay higher interest. Let the bank take it...bad choice but it happens?! |
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Landlord
|
Sell. The interest rates will not be going down anytime soon. |
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