Bad Credit Consolidation Loan

Archive for the ‘Renting Real Estate’ Category

brian r asked:


I am looking to refinance my 30 year mortgage in about 6 months and wanted to get some advice on how to get the best interest rate possible. Wanted to hear stories from people who have done this. Thanks,

mortgage refinance

knatwhat asked:


Hi.

Here are the details. 6.8% 40 year loan First 10 are interest only. 192k balance on a house valued at 192k (zillow.com) I have PMI. Bank Of America holds my note. I am current on my loan and can afford it. Do NOT have the $$ to pay closing costs.

I want to take advantage of all the stuff happening. I Want to get rid of the PMI, I want to lower the interest rates, and I want to start working on the principal and I want to lower my payments (Of course)

Anyone with a good understanding of the system and new PLANS that has any suggestions?

Thanks A TON
I added all the info about my equity becaus eI know the issues of not having it thats wy I was asking about all the new govt. plans

mortgage refinance

imst22 asked:


I currently have a $258k mortgage at 6.5%. My place is worth approximately $350k, so I have about $92k in equity. My debt to income ratio is around 63%. With rates around 5%, I think it would be worthwhile to refinance; however, I was told that my debt to income ratio is too high. My credit score is around 760 and I have never missed any mortgage or bill payments. My debt is largely due to student loans, car payments, credit cards, and depreciation on a rental property that I have. I am actively paying down my debts, but am disappointed that I have not found a lender to refinance with despite good credit, and no missed payments. Are there any lenders that anyone knows of that might work with someone with high debt to income, but good credit? If I get the opportunity to refinance, it will allow me to pay down my debts that much quicker. Thanks for any advice.

mortgage refinance

mtnman717us asked:


Is there any good way to get out of an upside down mortgage? My ex wife currently owns a house that she really can’t afford. We refinanced the mortgage when we got diovrced 5 years ago. Since then, she has refinanced once more. With the current housing market where she lives, she owes more than she could get for it by selling at a reasonable price. Does she have any options to get out of the mortgage?
If my ex wife sells the house for less than she owes on the mortgage, and owes the difference to the bank, is that money owed at the time of closing or is it paid back as a personal loan?
I did try to help her sell it when we got divorced, knowing it was too expensive for her to maintain with her financial situation. My advice was not well received, as she wanted the status symbol of a big home. I no longer have any financial obligation on the home, so it is not my problem to resolve.
For anyone who wants to know my motive, there is no motive for me one way or the other. I don’t benefit one way or the other. I do care about my children though who live with my ex wife, and making sure they are cared for and have a nice, reasonable place to live. I pay my child support and she needs to also be able to adequately take care of them and share the costs of raising them.

mortgage refinance

Get Money asked:


I am about to begin my paperwork to file chapter 7 bankruptcy and was wondering how long it takes for the finance company to evict tenants from a relinquished property? i have renters there and want to give them notice about what is goin on so that I can try to avoid a law suit. i think the BK process takes about 90 days but was wondering as to how long i should tell my tenants they have before they are evicted. thanks in advance for your help

bankruptcy

anitak26 asked:


We have an 80/20 mortgage and have tried to refinance with no avail. We did get a 3-yr loan modification, however, after that the price will jump back up again. And if they come after my husband, what do we do then?

mortgage refinance

tiggergurl asked:


my mortgage co wont help me (gmac) i dont have good credit at all..i have had a few late payments..just had a baby..i dont get paid that much and my husbands work is slow.. i just want to refi!! no cash out..house is worth approx 70K owe about 65K and dont want to pay for a loan modification cuz if i had the money to do that i would be on here asking for suggestions.. oh i dont want any smart a** answers you can keep them to yourself! i just need honest answers from honest people! thank you
would i just be better off to let them foreclose on it..rent until its off my credit and start fresh in a few yrs?

mortgage refinance

js asked:


I bought a condo almost 3 years ago for $170000. I put $19000 down. With the way the market is now I still owe close to if not over $150000 and the condo I believe is worth even less than that.
Right now I struggle every month to make the payment even though I recently rented out the place for $1000 a month. My mortgage and condo fees equal $1300 a month, so I must pay that $300.
I am living in an apartment with my b/f right now and I have to pay him to help with the rent and bills.
I was wondering if I would be able to refinance to lower my monthly rate, as my credit I believe is pretty good. I heard that under the new stimulus plan that I would qualify for a refinance. On the other hand, I just read online that I would have to have at least 10% equity to refinance. Could anyone please help in explaining this?
I forgot to mention that my mortgage is about 50% of my monthly take home pay. I think this might be relevant.
This was not an investment property when I bought it. I lived there for 2 years but found that I was really struggling to pay for it along with my other financial obligations. This is the reason that I decided to rent it out.

mortgage refinance

Crimson asked:


i am a soon to be college grad that is currently interviewing with wells fargo to become a credit manager in the chicago land area. is the mortgage refinancing market a strong place to start a career right now? fill me in on your thoughts. if you could, please tell me if you are in mortgage refinancing business or not. thanks , the more responses the better.

mortgage refinance

Lee asked:


Is selling and then leasing back my home that has no mortgage owed a good idea when filing for bankruptcy? I would be financing the home. And then renting it in order to keep my place of residence. Can they take your furniture and everything in the home to pay back the creditors?

bankruptcy