Ask Bill a Mortgage Question

Can I find a lender for a FHA streamline refinance if I have a low credit score?

My wife and I are trying to do a FHA Streamline Ref. We have a FHA loan through VHDA (Virginia). We have lived in this house for 5 yrs and never once been late. We want to take advantage. of the low interest rates. So we contacted our mortgage broker to start the FHA SL Ref. He said we were not able to do so because my wife's credit has fell below the 620 score requirement. We don't ...
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I am age 62 but my wife is not. We are separated and my home is in my name only. Do I qualify for a reverse mortgage?

I am 62, my wife is 28 and she is not living in the home as we are separated. Do I qualify for a reverse mortgage? There is no mortgage on the property and the home is in my name only. I live in Texas.

Is the HARP mortgage rate a good deal... in the Ballpark?

I am refinancing my home. I owe $151,000, my home was appraised at $131,000. I am refinancing with Quicken Loans. They offered me a a loan at 4.5%, $2,800 closing costs excluding the additional for my escrow. I do have great credit and have never been late with my payment. Seterus owns my loan and does not do refinances. I am having trouble finding someone to refinance my loan since I am not...
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What Are My Refinance Options With A 105% LTV?

I am in a pickle and need advice. My debts are weighing me down, and need to find a way, if possible to cut my home loan expense. The market value of my Vermont home is about $260,000 today. Two home loans: First is $206,000, the current rate is 3.125%, and is a 7/1 ARM that kicked in last fall and will adjust this coming August. Paying interest only on the first. Everything adjusts in 2 yea...
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Pros and Cons of Walking Away From Home with a Reverse Mortgage

My mom has a reverse mortgage via World Alliance Financial. My mom is getting older and unable to manage the home by herself. What is the penalty, if she walks away?

How do I find a VA construction loan?

Bill, I am a 27-year retired veteran, looking for a mortgage company that will do a Construction Loan without me putting ahold lot of money down. My plan is to use my VA Loan once the home is completed, but most of them I've made contact with wants 10/20% down.

Stay In Your Home With a Reverse Mortgage and Resolve Your Credit Card Debt

Will the new Obama plan for helping homeowners (of 3/2012)help us? We are not underwater & have tons of equity. We are current in payments but retired -mortgage payments of $1715 ($263,000)are over what we can afford on Soc.Sec & pensions. Our son would like to take over our home eventually so we don't want a reverse. Need to lower our payment to $1000 or so. Our loan is NOT with...
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Will mortgage rates rise or fall?

Will mortgage rates be going up or down in the next few months? we are considering a refinance and want to check if now is the right time to lock in a fixed rate. Thanks.

What are the expenses, fees and closing costs associated with securing a home equity debt consolidation loan?

Can I refinance my first and second mortgages that are with US Bank?

We owe $97000 on our first mortgage and $57000 on an equity loan. Both are with US Bank. The first is at 6.25% and the second is at 9.49%. We bought our home in 2004 and have always been current with payments. Are we eligible for new program & and can we refinance both loans?