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Mar/08Mark Cappel
March 18, 2008I have 80/20 loan when I first bought my home, 20 being HELOC. The following year I refinanced this HELOC with another HELOC, but with fixed rate. Does this mean this HELOC became a recourse loan in California?
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Feb/08Mark Cappel
February 23, 2008
Recently I was told that we have too high of home equity line of credit ($475k) But it was never used, we are keeping for emergency. Will it hurt my credit score? My FICO score is very good but my overall debt ratio is a little high when compared with my income.
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Feb/08Mark Cappel
February 23, 2008
Hi, I sell reverse Mortgages. I also want to educate seniors as to the potential dangers of Reverse Mortgage scams. I'm feeling that to do both on a given presentation could hurt the Reverse Mortgage industry in that if the senior did not enroll he might spell out he dangers of a Reverse Mortgage at say a senior center scareing other seniors and hurting my future business. Any ideas rega...
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Feb/08Mark Cappel
February 14, 2008Dear Bill, in year 2000 I bought a house in a redeveloping area, the house is only eight years old. Since my health is not the same, in my later years I have decided to do a reverse mortgage. Now I am being told that there was a resale restriction agreement because I was a first time buyer under a county redvelopment program. Wellsfargo has offered to repay them their money, there is now where it...
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Feb/08Brad Stroh
February 13, 2008My husband is unemployed and we have fallen behind on our first and second mortgage. We have a plan setup that should take care of the first mortgage, but our second mortgage is in charge-off status. My question is would it be okay to let it get charged-off? What are the ramifications of this?
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Feb/08Mark Cappel
February 7, 2008
There was a line of credit taken out on my property that i own with my spouse which I never signed or authorized. My spouse defaulted and the bank closed down the checking out for no explainable reason where the payments were being taken out of. However the loan was never recorded on the property. It has been well over one year now! Does the bank have any recourse on my property? Or can they...
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Feb/08Mark Cappel
February 4, 2008Is there a way to transfer credit card debt under 10,000 worth to a new home loan if the house is bought for more then 10,000 under its appraised value?
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Jan/08Mark Cappel
January 30, 2008I'm thinking about refinancing my second home. Will I have to pay PMI? I currently have a 15 year mortgage and put $50,000 down; I want to convert it to a 30 year mortgage on take my $50,000 equity out. It really doesn't matter if the payment is still around the same amount I'm paying now ($2105/month). The house has been on the market for a while and it's not moving. I've had some offers, but the...
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Jan/08Mark Cappel
January 28, 2008What happens if a person has a first and a second mortgage on their home and a spouse loses a job and the new job he gets does not pay enough to pay the first and second mortgage? What happens if they decided to continue paying the first but let the second fall behind? Besides being a black mark on credit reports what can the second holder do? Can they foreclose on the home? The second is $1...
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Jan/08Mark Cappel
January 25, 2008
What if you owe $550k on your house split between a first $440k and a second $110k, but due to home pricing dropping, my house is now worth $400k. What can I do?
