Bad Credit Consolidation Loan

Archive for the ‘Renting Real Estate’ Category

ALVINA asked:


My loan was sold to another company. I do not trust this company.

mortgage refinance

James asked:


I currently have a VA 30yr fixed 5% mortgage on $330,000.

The economy being what it is, my cash flow is temporarily hurting. I want to keep my home but need to get over this slump.

I’ve been offered a VA 5/1 at 4.25% which will allow me to skip 2 months payments (payments are actually rolled in) and decrease my payment by $100 per month. Closing costs will be rolled in so no out of pocket which is what I need right now.

BUT… my principal will raise $13,000 to $343,400… and I’m concerned mortgage rates will climb dramatically by year 5. I plan on owning this house for at least 10 years.

The refi will help me in the short term but will it hurt me in the long term?

I don’t know what to do. Help please.

mortgage refinance

pamela t asked:


A house I am buying in Las Vegas, Nevada is still in escrow and I am just waiting for order from the court for release property from the bankrupty court which would happen when all the payments to the trustee are fully paid. Unfortunately, the case was closed for non compliance of payment. Since the Bankruptcy case is now closed, and the debtor( seller of the property I am buying) is no longer protected by Chapter 13 from all her debts which went back to $26,000. What happens to the house I am buying now that the bankruptcy case is closed? Can the debtors run after the property which is now in escrow?

bankruptcy

Lucky asked:


My husband is laid off from his HVAC job. The company is not doing well so we don’t expect him to be called back. He is thinking about going back to school full time. We are trying to eliminate some of our overhead expenses. The only debt we have is our house. We owe 23 years on our mortgage. We would save $140 a month if we refinance for 30 years. He is 55 years old and the fact that we are getting so close to retirement makes me nervous about a 30 year mortgage. However, once he is working again, our plan would be to pay $300 to $400 extra each month to pay it off early. Everything hinges on his finding employment that pays well.Do you think this is a good idea or should we just keep the mortgage we have. There are no closing costs and refinancing is through our credit union.

mortgage refinance

SYSMatrix asked:


I am thinking for refinance now. The mortgage loan agent says whenever I do mortgage advance payment, my next month’s mortgage will be recaculated based on the new princial (old prinicial – the total of advance payment)

Is that true?

mortgage refinance

Britta G asked:


Home, mortgage, 2 year mortgage, home loans, home loan mortgage, mortgage rates

mortgage refinance

bored_at_home asked:


I have 2 missed payments and now I am receiving phone calls and letters from banker saying they will foreclose if not paid in full within days. I have not received a certified letter yet, so I am not in foreclosure. I started talking to a broker to refinance my mortgage. Can my current mortgage lender foreclose if I am at the early stages of a refi? So when exactly during the refinance process can my current mortgage lender no longer foreclose on me? During escrow? Once I signed the application? During underwriting?

Another question, who notifies my current lender that I am in the process of refinancing so that they dont foreclose my house? Should I called them?

mortgage refinance

DLM asked:


We bought our home less than a year ago and want to refinance. The bank that originally held our mortgage sold it to another bank. The bank that holds it now says they want us to pay for the title, lawyers and appraisal again. If all this was done less than a year ago why do we need to pay all these fees again?

mortgage refinance

onebyone asked:


I was told that a mortgage must be 6 months old before you can refinance it. Is it true? What law (or statute or regulation…) actually specifies that?

This is in NY state, if that matters. Thanks!!

mortgage refinance

reni768 asked:


We bought our house in Oct. 2007. Our interest rate is 6.5%. Would it be good to refinance if the rate got down to 5.75%? We need to lower our payments if need be. We are so strapped right now with rising gas prices, food prices, daycare for summer, etc.

Right now we are financed through Wells Fargo and have been on time with every payment. We filed bankruptcy in 2004 on a mobile home that had water damage so I was wondering if this might hinder us in refinancing? Any advice would be appreciated!!!!!!!!!!

mortgage refinance