Tuesday, 16. November 2010
I wish to purchase my Mother and Father’s home. I am a first time home buyer and due to Credit score around 600 FHA loans are appealing to me.
The home value is est. 5k, we have agreed upon 0k for a purchase price. My parents carry est. 5k mortgage within that a est. 0k is in home equity loans at 2.5%.
Is there a way to transfer the title completely and assume their mortgage which carries a lower interest rate? or do I shop mortgage brokers? or credit unions and banks better?
Interesting Blogs
Friday, 1. October 2010
I have been out of a job for more than 1 year after making over six figures. All of my payments have been timely however I can no longer afford my home. My home value has dropped 100k, plus I have a 100k home equity loan out on my house. Am I able to do a deed in lieu with a home equity loan as a 2nd mortgage?
Interesting Blogs
Thursday, 29. July 2010
I can only afford to pay my first mortgage and I can’t refinance the loan because of the decreased home value and bad credit.
Interesting Blogs
Saturday, 24. July 2010
I recently have decided to pull some money from my house for a few different reasons. I have had one of those years where some bills have gone unpaid and have gone to collections, not my best year but I am sure we have all faced this in our lives.
My credit score has hit as a mid score a 585 which is below the guidelines for some lenders to allow an Heloc. My home value is about 500 K, and the loan pay off is about 250 K so I do have the equity in the home for the loan but just not the credit score.
I have looked at a Refi but would suffer a prepayment charge from the lender that is around 8 K as well as another 10 K in closing costs etc….etc… I would like to do a Heloc and I am not really concerned so much about the interest rate on the deal as I will plan to sell the house in the next year.
I am looking for a company that does that kind of lending.
Any suggests my yahoo answer friends.
Interesting Blogs
Saturday, 8. May 2010
We noticed in our credit report that our second mortgage from Ditech had been discharged in a bankruptcy a few years ago. I know it is still a secured loan, but what can they do. Home value=0,000. 1st mortg=0,000. Ditech=000. Can the second mortgage put us out in the street?
Interesting Blogs