Friday, 9. September 2011
She wants to buy it, but can’t get a loan. She’d like do to a land contract. BUT, since i have a Mortgage, in order to do a land contract, wouldn’t i have to pay my mortage and HE off? Doesn’t the renter become the owner when the land contract is done? Which means, I’d have to pay the mortgage and HE off in order for her to have a clean title?
Thursday, 8. September 2011
Why don’t payday loan companies and other loan companies that provide loans over ,000 and provide first & second mortgages in Ohio be required to have loan officer licenses & mortgage broker licenses? Does anyone know?
Thursday, 8. September 2011
the other spouse has perfect credit
Wednesday, 7. September 2011
I work with a person that is intentionally defaulting on her mortgage. A second mortgage was taken out to purchase another home, before the credit takes a nose dive. Is this illegal? What are the laws around this situation in PA?
To clarify… this became a domestic situation where she did not want to remain neighbors with those living near house number 1.
Wednesday, 7. September 2011
give the following information ,determine the maximum credit limit available on home equity loan.
market value of home 0,000
maximum% of value 75%
balance due on existing morgage 55,000
Monday, 5. September 2011
OK, so please read this clarification if you are going to answer (because I can already anticipate the answers and it will not be what I’m looking for if you don’t read this). This is not a 401K loan I am talking about that you get from through your employer (so please don’t go down that path). Also please don’t suggest a home equity loan (the equity in our home is too low for that). I am talking about going through some type of financial institute and having them give me a loan using the IRA as collateral (and obviously taking into consideration the income we are bringing in and credit rating). I am simply trying to find a way to eliminate some credit card debt at a lower interest rate. If that’s not achievable then I will just keep paying off the cards as I am, by making additional payments on each. Thanks in advance.
Thanks for the quick responses guys. I should have also mentioned I was not looking to take a distribution and pay the tax penalties, but the initial answers seem to be on track with what I was thinking.
One of the reason I love Yahoo answers is that I can use the info provided by responders and then use that to google more info. I just googled tax violations thanks to the first answer and this is what I found (which sounds like it’s my solution)….
1
Call the 401k plan administrator for the company you currently work for. Ask whether it will allow you to roll you IRA into the 401k. While this is not the typical rollover discussed in a financial forum, the IRS does allow this and most administrators will agree. Request any paperwork you need from your plan administrator.
2
Call your IRA administrator and request a distribution form. An IRA rollover–regardless of what direction it is moving in–takes a distribution of assets from one account and has 60 days from the date of liquidation to return the assets in kind (cash) into another qualified plan–in this case your 401k.
3
Fill out all paperwork obtained, sign it and submit.
4
Deposit the IRA distribution check into your 401k p
Monday, 5. September 2011
What is permitted and what is not permitted for advertising first and second mortgages? Is there a diffreence?
According to RESPA, what type of advertising is permitted for first and second mortgages? Is there a difference?
Monday, 5. September 2011
the money was used to build another house (occupied by my elderly parents) located next to my primary residence on the same 10 acres of land. Can this qualify as a "home or land improvement" and allow me to write off the full interest amount?