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Jan/10Mark Cappel
January 27, 2010I'm trying to understand the Home Affordable Modification Program and whether or not it is for us. I'm not clear if this is the right program for me. Our loan is an FHA loan and we are current on our payments. Unfortunately our house is underwater and we are struggling to keep up. What should we do to find out if this program is right for us? And we know that President Obama has endo...
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Jan/10Mark Cappel
January 26, 2010
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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Jan/10Mark Cappel
January 26, 2010
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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Jan/10Mark Cappel
January 22, 2010I own 20 acres of land. I prefer to refinance the land or borrow against it to pay off my home mortgage. The home sits on the land. How can this be done?
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Jan/10Mark Cappel
January 22, 2010My husband pays the mortgage every month, but it is always late. He isn't financially responsible, but makes more than me, so he has to be the one to pay it. We have had debt collectors call us to collect the payment. I thought there was a grace period of 30 days. These collectors would call us 10 days or so after it was due. Also, since both of our names are on the mortgage, will the late payment...
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Jan/10Mark Cappel
January 22, 2010
Is Equitable Reverse Mortgage a good player in reverse mortgage?
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Jan/10Mark Cappel
January 21, 2010
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.
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Jan/10Mark Cappel
January 21, 2010
What will happen if I default on my HELOC loan?
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Jan/10Mark Cappel
January 18, 2010
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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Jan/10Mark Cappel
January 14, 2010I am current on all my debts, including my 1st & 2nd mortgages. However, I married last summer, and we both owned our own homes. We're attempting to sell both, and buy a new house in the next 1-2 years. My question is, the first house we are selling has seen its value decrease, and is worth approximately only 95% of the loan value. With realtor's fees, and assuming a sale price less than w...
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