My 1st and 2nd mortg. are with the same bank. I have not paid my 2nd since May 2009. I am 1 & 1/2 months late on my 1st. My husband's salary was cut in 1/2 this past summer. I called the bank regarding my 2nd and they told me to call a 3rd party -- which is a debt collector. I looked on the bank's website and saw no information (i.e. acct no, last payment, etc..) on my 2nd. Has m...
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Hi Bill. With the help from your website and advice, I was able to increase my FICO score to a 580 (40 pts since Nov '09) in order to buy a home. My income is in the lower 30K range. My mother-in-law has excellent credit and is willing to co-sign the mortgage loan with me. My question is: do you think with her high credit score, we'd be able to get a lower interest rate and perhaps g...
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Is Equitable Reverse Mortgage a good player in reverse mortgage?
I live in a property that has been auctioned twice. Do I still have to pay the the rent to the person who says he still owns the property? He says that the foreclosure is not true, although it is listed on Realtytrac for sale by trustee.
What will happen if I default on my HELOC loan?
My husband died a month ago. He had a reverse mortgage with a balance now due of $140,000. The deed is in name of his revocable living trust, I am primary successor trustee, the house is valued at $180-190K. My question is since I would like to stay here and pay off the loan-what is my best option? We own a condo that is free and clear, worth about $200K but my son is living there for the co...
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