Bedrock asked:

Here is a scenario, followed by my question:
Individual 1 and Individual 2 are interested in buying a home and put both of their names on a $280,000 mortgage. They make settlement on the home, and one year later, Individual 2 decides that he would like to purchase an investment property. Will the lending entity for the investment property calculate Individual 2’s debt-income ratio using the full $280,000 mortgage, or will they calculate it at $140,000 since the mortgage is essentially split?

818.451.5691

Amber D asked:

I am trying to short sell my house, the lender is Wells Fargo. Does anyone have any experience dealing with a short sale? I have a 401k and ROTH IRA in my name, will the lender go after these if I do short sell, to recover some of their loss? What investments are safe, which are not?

http://www.huntley.net

cougar26 asked:

whats the best place to get a consolidation loan for debts with fair credit … i dont want to mess up my credit anymore please advise…how soon an i purchase a home after getting this type of loan? i would like a starter home soon im tired of paying rent i want to consolidate all my bills into 1 payment and purchase a home please advise on situation and suggest areas to move too… thanks

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hollow1 asked:

appraise at 3050000.I owe 218000.. does anyone know of a lender?
slip of the keys it’s worth 305,000.00 not three million.. I live in Ohio
I have excellant credit and income ..I’m just tired of the credit card games with th interest rates..

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homer_a_d asked:

This is a question re Canadian mortgages.

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PR-mom asked:

I’m looking to refinance for debt consolidation. Is it better to refi my first mortgage which is at 5.625% or obtain a second mortgage?

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cougar26 asked:

whats the best place to get a consolidation loan for debts with fair credit … i dont want to mess up my credit anymore please advise…how soon an i purchase a home after getting this type of loan? i would like a starter home soon im tired of paying rent i want to consolidate all my bills into 1 payment and purchase a home please advise on situation and suggest areas to move too… thanks

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ahm asked:


The first mortgage bank faxed over an approval letter to our realtor approving the sale of our house and mentioning that they will not go after me for the deficiency. I tried to get the loss mitigation specialist to sign it but she claims she does everything electronically and that the approval is good the way it is.

I had bad experience when I reached a settlement with my second mortgage. After I wired them the money for the settlement amount, they still sent me to collections and they applied the settlement wire to the balance and kept asking for the remaining balance. I had to fax the signed approval letter to the debt collector as well as other departments that were not aware of it. I am worried the same thing will happen with the first mortgage after the shortsale goes through and they would still seek a deficiency judgment.

If it is not legally binding, then would her emailing me the unsigned approval letter be sufficient??

Anyhelp would be appreciated.

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queenlint1 asked:


In the fall of 2005, I made a large payment toward my principal on my home mortgage from my Social Security disability settlement. Right after, I received a letter saying that I was being charged 298.25 for ‘outstanding advances due from borrower’.

I called and asked what it was for, was told that they did not have to tell me what it was and that I had no right to proof.

I sent them a letter with laws about credit and debt collection I got online from the Federal Trade Commission that said that indeed I was intitled to know what the amount was for and they needed to show me proof.

In a follow up call, I was told the amount was for people in my city to ‘drive by’ my home in 2001 and see if someone lived here and to search online records to see if I still owned the house!

I feel the mortgage company is wrong to charge me for this 3 years after the fact and not provide any proof to this day.

What do I do and what agency can I talk to?

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tryinthis2 asked:


ok so first the lender told me just to be on the loan and not the title because she couldnt figure out how to do both…..then hangs up on me……….apologizes……….stupid me….accepted and kept working with her…….

then she told me that some debt needed to be paid on our credit….ok no problem…knew it was there.

then at closing today I find out that there are additional debts that she didnt disclose and she thought those debts were the same as were on the credit. NOT.

so now she wants us to pay an addl 4k! noone told us….I had to ask why settlement was different.

so I didnt sign!!!!!!!!

so now I want to know if I have any room to negotiate for her lack of professionalism and incapability to process our loan without non stop problems caused by her…… can they waive the origination fee if it’s a bank? I think they should suck it up just like I’ve had to.

oh and I told her boss today that she never even got verification of my income….lol.
oh and they made us sign a doc saying we’d pay appraisal fees and other fees if we back out. They locked our rate at 6% so it’s gone up since then.

I’m sure we’ll suck it up and sign after I prove they’ve jacked up the pay to part of the new debt they require us to pay.

I want them to waive some kind of fee for our trouble. does a bank do that? or just one of those places online?

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RE-AGENT asked:


Purchased a home w/ Richmond Homebuilder’s w/ the stipulation to use their loan company, American Home Mortgage. On 9/06 the loan officer qualified us as our credit score is up on the 800. 3 wks before closing she asked for more documentations w/c were faxed to her. Ten days before closing, she claimed she did not received the documents. Was sent again to her, w/ copies to her processor located in Colorado. As business travel was in schedule, I emailed her that for the duration of my trip I will not be able to correspond or provide anymore documents if she needs them. The night before my travel her email came in w/ a rate of 6.25% for the 1st and 8.5% for the second loan and asked to sign the document so that she can locked the rate. It was signed, emailed, and faxed to her the same night. Monday, day of settlement, rates were higher than what was signed. She claimed it’s ‘coz of our high debt ratio. Wasn’t this a bait and switch violation? Any federal and MD state laws applies?

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michael b asked:

Price of home: 159,470
PMI: yes
Interest Rate: 6.5 – builder offered free point to buy down to 6.375
Estimated Prepaids: 1,584
Estimated Closing Costs: 3,793
Total Costs: 164,847
————————————–…
Good Faith deposit already put down: 1,500
Lender Credit: 175
Paid by Seller: 1,595 (interest rate point)
————————————–…
Total Loan Ammount: 159,470
Total Settlement Cost: 2,112
————————————–…
Payment schedule:
no. of pymnts: 120 Principle inter PMI : 1,123.80
no. of pymnts: 35 Principle inter PMI: 1,021.47
no. of pymnts: 205 Principle inter: 994.89
————————————–…
Notes:

I didn’t have enough down payment (20%) to get out of PMI because i recently spent 15k to get totally out of debt (paid off car, student loan, etc..). I now have 0 debt and plan to pay 400$ a month extra on my mortgage to cut the # of yrs and end pmi sooner.
Oh yeah, with PMI, closing costs, the APR is 7.24%

Debt Settlement

Kayla M asked:

It was in Wothington,MN that I had rented the apartment. We went to court on the matter and we ended up getting the settlement that my mother and I had originally offered. To make a long story short I had we went to court for it on February 5th of 2008 and Im not sure when the judgement was final. The landlord sent a letter to us on March 12th stating that it was our final notice of our account being delinquent and I had 5 days to contact them about an arrangement. I did contact them on the 17th I called and talked to the guy who has caused me many problems and he said that I had to pay an amount that I cannot afford. That same day I talked to him I got something in the mail stating that if I did not contact him in 5 days they would garnish wages. I then sent out an email to him stating the amount that I am able to pay and the days that I would pay it. I sent out a payment to him and then about a 2 weeks later they had took money out of my mothers checks ( the co-signer) What can I do?

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Sonya81 asked:

The tenant had money coming in every month that covered rent and all of a sudden his checks stopped and they went to litigation to get a lump sum instead of payments. He can no longer afford to pay the rent and is moving out, but still owes a couple thousand dollars. When we spoke to his litigation lawyer, they said that we could file some kind of a lien against the judgement or litigation and when he gets the settlement then we will get our money. The lawyer said something about having him sign a form, something about a lien or deed to debt. Anyone familiar with this or know how I would go about filing a lien against a settlement and not a property? Any help would be appreciated.

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Caita asked:

What w

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stillatello asked:

I weià Ÿ only, the absolute of facts, but it smells fischig to me. My family the Geschäft is a part of the Shopping center strip, and we are the anchor store. Switched on approximately one year ago, it Property management groups. This week, us it was said that our rent enter wà ¼ rde substantially for the covering of the pending commitments that frà ¼ heren Eigentà ¼ more mer at the current society. It shouldn’t that the debts became part of the negotiations, if this enterprise bought, the latter, and as können them makes us to pay fà ¼ r their errors?

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Caita asked:

To injure to get rid my mortgage payment without that the credit much? What w