-
Jul/12Mark CappelJuly 10, 2012
I am one of many Nevada home owners with property values underwater. Our primary residence is valued at $247,000, which translates to $173,000 less than what we owe. In addition, we have two rental properties and a considering buying a third property. My question relates to the consequences if vacate our primary residency and become delinquent on the loans. What can be expected if we do this...
Read full question -
Jul/12Betsalel CohenJuly 5, 2012
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 ...
Read full question -
Jul/12Daniel CohenJuly 3, 2012
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.
-
Apr/12Betsalel CohenApril 18, 2012
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...
Read full question -
Apr/12Mark CappelApril 16, 2012
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...
Read full question -
Feb/12Daniel CohenFebruary 22, 2012
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?
-
Feb/12Daniel CohenFebruary 21, 2012
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.
-
Feb/12Mark CappelFebruary 19, 2012
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...
Read full question -
Jan/12Mark CappelJanuary 11, 2012
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.
-
Jan/12Mark CappelJanuary 11, 2012What are the expenses, fees and closing costs associated with securing a home equity debt consolidation loan?