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Hi I am from Southern California and my father has been having debt problems, mostly with his second mortgage.?

admin — Sat, 13 Aug 2011 06:37:14 +0000

Hi I am from Southern California and my father has been having debt problems, mostly with his second mortgage. He recently told me that he found a lawyer on a radio station that has promised to get rid of all his debts. All the lawyer asks for is 00 now and another 00 later (this plus a number of different fees such as home evaluation fee over 0 plus 0 per visit and court appearance). To be honest this guy seems a bit shady to me, he says he is just starting and that his office is empty-looking because he just moved to this building. He has promised my father that in three years he will be debt free and that even though my father owes ,000 in credit cards plus the mortgage, that he will not pay more than 0 a month and thus he will have a lot of money left over to spend as he pleases. He has also told him to immediatelly stop paying everything, regardless of my father’s situation. The guy defined bankruptcy as practically total debt forgiveness and just a simple way to “start fresh.” I am not sure bankruptcy is the way to go for my father; he can afford his credit card debts and his first mortgage and is only really having troubles with the second mortgage of about ,000. This lawyer said “If what I promise you sounds too good to be true it’s only because you people are ill-informed.” He has promised debt forgiveness and more cash… I have a gut feeling that this guy is not well intentioned…

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Do you think I would be able to get a second mortgage with $125,000 a year plus bonuses?

admin — Mon, 08 Aug 2011 09:05:02 +0000

here is the deal: I own a house that I owe 37,000 dollars on. I make 5,000 a year plus bonuses. I want to get a second house for 0,000. but I had a few mishaps and my credit is now in the 580-600 range. Now I’m ok everything is paid up and on time. For right now I will be still paying on the first house. My payment is 6 a month, and I have college bills of 5 a month, and a truck payment of 0 a month and pay 0 a week in child support. i have 2 credit cards in which i don’t even use. Can I get a mortgage and if so how much down would I have to pay? Any suggestions about anything would be helpful..

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What's in my best intrest to do, a refi or home equity loan?

admin — Sun, 19 Jun 2011 14:46:43 +0000

I want to pay off bills so I will have more money in my pockets each month.
I have no credit cards. so the will to stop using them isn’t an option, I have a car note and two personal loans I want to get rid of

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How can I increase my credit score?

admin — Sun, 29 May 2011 23:06:45 +0000

I am twenty-two years old and my FICO score from Experian was a 738 four or five months ago. I have:

1. a close to ,000 mortgage with an initial balance of ,000

2. four credit cards with a total limit of close to ,000 (only one of which has a balance [,000 on it but at 0% that I will pay off before any interest accrues])

3. about ,000 in student loans that are not yet in repayment (I am finishing college soon)

4. no auto loan payments (paid cash for my wife’s car and mine)

I am trying to increase my credit score so I can get the very BEST rate on a HELOC (home equity line of credit) so I can begin my real estate career! Hopefully, I can find something lower than prime – 1.00% because I have already been offered that.

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Financially strapped. Having creditors calling. WHere can I turn for help/advise?

admin — Sun, 15 May 2011 15:39:27 +0000

I’ve always had very good credit score. 11/2007 was 725. Today it’s 680 and going down (I’m sure). Owe about 43000 in credit cards, have 2 mortgages and 2 401k loans. All taken to put children through college and help with their finances. Was doing will however over the past 10 months, 2 of the children lost their jobs and now I’m in financial trouble.The creditors are constantly calling, I’m only late by 2 wks, however do not see a way to now pay for 2 months and late fees too, pluse interest rate was jacked up. This is a nightmare, depressing and embarrassing. I need some help/advice as to what are my options. Tried Home Equity but qualify for high interest which only buys me a little time before I’ll be back in trouble again. I just can’t make ends meet anymore. Pl help soon.

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Home Loan and equity loan? How does it work when a house is already paid off?

admin — Sat, 14 May 2011 00:24:13 +0000

My mom has a home that she bought in 1997. She bought it for 81K and now it is worth about 350K. (It was built in 1991 and we are in southern California.)

She paid off the house back in 2004-just after her husband died she collected the 100K from the life insurnace policy. She is making about .60 an hour-full time-and now she will be bringing home less since her employer is going to take out about a month for health benefits. She only made around 17K last year.
She is about 4 or 5K in credit card debt. Since her husband passed in 2004, she has paid down the credit card debt a lot from 7 or 8K – (most of the money came from the left over amount after paying the house off) but she is still struggling to pay all of her bills.

If my parents had not had the life insurance + if my mom had to pay the mortagage (0.00 month) we would be living on the street now. There is no way she could afford that on her income. Is it worth it getting a home loan for 5K or 6K?
My mom has the ’99 truck (it was dad’s) and it is running and that truck is paid off. Her car a ’99-not running is also paid off. I already asked her if she wanted to rent the room out-she would rather not with her 3 little doggies. They would bark too much.

I thought that interest payments would be lower than credit cards. She is paying 22% of one of her credit cards. that is crazy! I will show this to her tomorrow. Thank you all! If I could I would give you all best answer!

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will the bank take you to court if you foreclose?

admin — Sun, 01 May 2011 06:09:09 +0000

we have a 2nd home will my interest go up while my credit go bad and insurance rates go up will credit cards will be cancelled.we can afford two mortgages but it is scaring me when we have nothing left at end of month.will we be labeled as fraud since we make enough money.the house we want to foreclose is our rental property. what are the process the bank will do ,also we took a equity line on the rental property can we ask the bank where we took the equity to just make it a personal loan should we hire an attorney

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can I claim a home equity loan on bankruptcy?

admin — Tue, 26 Apr 2011 09:54:17 +0000

I am going to claim my credit cards, can I claim my home equity line as well?

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Re-finance my condo? Second mortgage?

admin — Thu, 21 Apr 2011 18:39:21 +0000

If I re-finance my condo, can I add in other debt like credit cards and such? Or is that when you get a second mortgage? I want to put everything into one monthly payment. I highly DOUBT that there is any equity for a home-equity loan.

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When IS consolidating a good idea? Or is it better it get a home equity loan to pay-off your debt?

admin — Tue, 12 Apr 2011 00:17:00 +0000

The thing is, I have good credit and I can currently afford my bills. It just I got married 2 yrs. ago and already had this debt built up i would like to clear my slate…and besides that I owe a lot..btn Credit Cards and Student Loans..woooooo