The answer that was given was either misleading, uninformed or confused. The Mortgage Industury, which supports flipping of houses, has changed the law on the Federal level where they can take your home with one missed payment. I do not who this ‘expert’ is. I lived through it with National City Bank. I missed one …
Tag Archive: lender
What happens if mortgage company for investment home files Proof of claim in Bankruptcy case in Maryland.?
I am considering filing a chapter 13 bankruptcy in Maryland. I will have to do a chapter 13 because I have too much equity in my primary home to file a chapter 7. I have an investment property that I will agree to surrender in the Chapter 13. What will the trustee do if the …
Will our current mortgage lender automatically finance us for another home purchase?
We are moving and selling the first home. We are in good standing with the current mortgage company. We have lived here for almost 3 years- we have had two payments that have been a few days late. Also, will they keep us at our current interest rate? Answer: No, the rate will be based …
What happens to a second mortgage when a home is purchased at a foreclosure auction?
I am going to bid on a house at foreclosure and it has a 1st mortgage of 0K and a second of K. The lender on the first two mortgages is Decision One Mortgage. The lender at foreclosure is Countrywide. Does this mean that if I buy this house at foreclosure that I will own …
Has anyone ever heard of a mortgage lender declining a loan because the home has geo thermal ?
Three days before closing on our property, the lender decided that they would decline the loan as they noticed in the appraisal (that they had possession of for 5 weeks) that the home has geo-thermal. Our real estate agent and mortgage broker were both surprised by this. Has anyone else had this experience? Answer: Odd, …
Can you still qualify for a home equity loan if you behind on mortgage payments?
I’m behind on mortgage payments because, i’m going through a loan modification, but i need money to pay for school, will i be able to still get a home equity loan. Because my credit is not amazing. Answer: No. That’s the FIRST thing a lender will check before granting a home equity loan. If the …
i HAVE NO KIDS/HUSBAND and I HAVE A HOME WHAT HAPPENDS TO MY HOME IF i have a mortgage?
I AM SINGLE ,HAVE NO CHILDREN. WHAT HAPPENS TO MY HOME IN THE EVENT OF MY DEATH, IF i still have a mortgage. Answer: If you do not have a will, your estate will have to be probated according to the laws of your state. The house will be sold, and if there is any …
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