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Sep/10Daniel CohenSeptember 21, 2010
This is a question for my husband. My husband is 61 years old and will be 62 years old in mid-2011. He is wanting to purchase the house from me and doesn't want to go through the regular financing. He has money in the bank but not a lot of income coming in. I have heard about the reverse mortgage and I feel it might be a good fit for him. My questions are: Does my spouse need to be 62 ye...
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Sep/10Mark CappelSeptember 17, 2010
We want to take out a home improvement loan or a line of credit for remodels. We built our house in 2007 and put a lot in it when we purchased it. We have had it on the market for 6 months and want to know what is the best thing to do.
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Sep/10Mark CappelSeptember 14, 2010
Hi If I sell my home in California does the state have the power to intervene into the sale and hold the funds for a period of time?
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Sep/10Mark CappelSeptember 9, 2010
My partner and I bought a house in Georgia in 1992 with an FHA mortgage loan. We lived there for 17 and 1/2 years straight. Our existing balance on that mortgage is $21,300. In September of 2008, we obtained a HELOC from Bank of America for $50,000. We used the entire amount to purchase another home nearby, which we spent the next year fixing up using our own cash, as the $50K had been spent...
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Sep/10Daniel CohenSeptember 7, 2010
My Grandma took out a Reverse Mortgage on her house and has since passed. She died before she had a chance to utilize the $140,000 credit line. When she first applied for the reverse mortgage she had put the house in a trust, leaving it to my brother, sister and myself. It was also stipulated that my dad would receive $25,000 for finishing the house after we had issues with our contractor. M...
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Sep/10Mark CappelSeptember 1, 2010
I applied for a home modification with Bank of America and the documents stated that my payment was now $744 instead of the normal $1700. One month later I receive letter from BOA stating that I am past due on my mortgage. I called BOA and their agent asked me why I only made a partial payment. I told her I was on a modification program. She tra...
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BSSep/10Bills StaffSeptember 1, 2010
My ex-spouse wants to buy my home. Would it be possible to refinance in both names? I have another home I am going to purchase and live in after mine sells. I had the house before him and his name is not on it. We want to stay close by for my step-daughter. My ex-spouse has been living there and paying the mortgage on his own for 18 months. He doesn't have bad credit, just not a lot. The...
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Sep/10Mark CappelSeptember 1, 2010
I was a co-signer on a split mortgage loan between centrue bank and the USDA which was foreclosed upon in 2008, and Fannie Mae took care of the bank debt, but I now owe $78,000 to USDA on the FmHA loan portion. Can I file bankruptcy on that FmHA loan to get me out of debt?
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Aug/10Mark CappelAugust 30, 2010
My mortgage company (Chase Bank) called and said I qualify for the HARP refinance program. I have a excellent credit score and the LTV is 50%. However I lost my job last year and currently self employed. The bank says they can do stated loan for me. Does anyone still do stated loans? Should I consider it safe since it is from my current mortgage company? What should I watch out for? Any hidd...
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Aug/10Daniel CohenAugust 29, 2010
I have a equity line, that I have not been late on, a friend said that banks at anytime for no reason cancel the equity line and demand the payment in full. Is that true and if it is how long do you usually have to pay off the balance. I'm also on time with my home loan the only thing I have bad going on is I'm really pissed at bank of america and have been not paying on 2 of the car...
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