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State Arizona
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1011 N Pantano Road No. 115, Tucson, AZ 85710

Arizona

Tucson

1842 W Broadway Road, Mesa, AZ 85202

Arizona

Mesa

3930 W Ina Road, Tucson, AZ 85741

Arizona

Tucson

8450 West McDowell Road, Phoenix, AZ 85003

Arizona

Phoenix

1309 W Guadalupe Road No. 1, Mesa, AZ 85202

Arizona

Mesa

1112 S Craycroft Road, Tucson, AZ 85711

Arizona

Tucson

278 W. 32nd Street, Yuma, AZ 85364

Arizona

Yuma

710 West Elliot Rd, Tempe, AZ 85284

Arizona

Tempe

12875 West Bell Road, Surprise, AZ 85374

Arizona

Surprise

12370 N 83rd Avenue No. 1, Peoria, AZ 85381

Arizona

Peoria


Frequently asked questions about arizona lenders

  • If the second lender forecloses the 1st remains. The new owner of the property - the old 2d - is now responsible for payments for the mortgage , because if they are not made the 1st will foreclose on them and the new owners of the property will lose all of their money dispite the foreclosure. This does not relieve the owner who was foreclosed on to not have a financial tie still to the 1st. If the 1st is foreclosed on that will also go on the original owners credit.
  • When the property is sold, the 1st lender gets paid first..any leftover money (if any) goes to the second.
  • Grace period for what? Before they declare the loan in default?
  • merely liberals and illegals whining approximately Arizona making plans to enforce a regulation that the Feds have conveniently forgotten !! My spouse incorporates HER documentation along with her... precise there along with her driving force's license. i'm satisfied Arizona has enacted this regulation... pushing the Feds buttons !! It took me practically 2 years to get my spouse's visa by way of the State branch... meanwhile how many 1000's of illegals merely snuck around the border or overstayed their student visas ??
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  • Eloan worked a miracle for us! Use this link http://www.anrdoezrs.net/click-2177451-1... and they will waive the lender fee. I thought I would never get a loan, let alone one with a decent rate, but they pulled through for me. It can't hurt to try!
  • I'm a nationwide mortgage broker (aka Miracle Worker ;) with the nations top 5 brokerage firms. Contact me to discuss all of your options. Web - http://www.SLarson.com/contact Email - Steve@SLarson.com
  • They all give the broker (loan broker) a commission. I would not recommend you use anyone doing business with a free Yahoo account. Work with a bank that has a local office to your client.
  • In Arizona my agents and I are selling stuff at a moderate pace, other brokerages are doing better and some are doing less. The thing is property is selling at record lows, and most of what we are selling are bank owned foreclosures (REO's) and short-sales (property selling for less than what is owed by a pre-arranged lender agreement) Banks are starting to move a bit faster on these properties, but expect to wait 30- 120 days on short sales and about 1-2 months on REO's In my community, at a peak,in 2006 an 1141 s.f. sold for 225k I saw a similar property sell on the MLS for about 70k the other day. ( it probably needed a clean-out, paint an carpet) Now is a good time for investors and homeowners alike to get a good deal on a nice home. Funny I tried to fish for California investors to buy in 2005 when I notices sales trend on the rise, and got nothing. Then when the prices peaked, here they come. Buying stuff way above a price they could never rent it out for. Talk about more money than brains.
  • The socialist's $8,000 handout is causing the buyers from November, December, January and February to buy now instead. The momentum will stop December first - unless there is more socialist hand out dollars printed up. Then it will push it back a few months.
  • Beware many of the "sales" you see are special circumstances. Short sales, and bank sales (REO) are a significant portion of todays sales. The first time home buyers tax credit is also prompting some people to buy now.
  • yes they are! Now this depends on your geographical area of coarse but as a generalization - yes the market is gaining momentum again!
  • not where I live. still lots of new foreclosures and prices still falling
  • are their different laws in different states regarding chapter 7 bankrupcy? i was told no, because it is federal, but why do all online sites/forms declare that each state is different and to specify where you live. i'm asking, because i can live in one of 4 states, as i'm currently not working and can choose a family member in CA, FL, DE, WA or TX to live with.....
  • It is federal and the federal laws trump state laws. But in some states a creditor can come after a homeowner for any delinquency on their mortgage. In other states, the homeowner is protected from creditors if the mortgage was used to purchase the property. Each state has Homestead Laws that protect equity from creditors other than mortgage lenders. In Arizona, the first $100,000 from the sale of the home is exempt from creditors. All those things have an effect..
  • I owned a Manufactured Home, but I sold it to another person. We signed a private sales contract. So, this person makes the monthly payment to us and we send the payment to the Mortgage Co. This person signed a contract with a Mobile Home Park and they pay the lot rent and water to the MHP, too. Also, they pay their utilities. The thing is that this person is not paying the lot rent (2 months late). The MHP sent us a letter saying that they searched for the title of the Mobile Home and it appears that it is still ours and they are asking us to pay the rent of the lot. Otherwise, eviction or legal action is followed. Can we be taken to court and pay for the rent even if other person signed the rent of the lot with them??? Or can we use the private sales contract to prove that we "sold" the MH to them?? Or what can I do?? Please, help!!!!! I can't afford a lawyer and I don't want to pay for something that I didn't sign for!!! If you are a lawyer and would like to help me or give me an advice please answer this question and further I could give you more information (and contact information). THANK YOU SO MUCH!!! IT'S URGENT!!!
  • I suspect with the title still in your name, and you clearly stating you send the payments to the lender, you have some liability here.
  • No entiendo Ingles lo siento mucho . Suerte.
  • I have 2 properties in AZ. I can't pay the mortgage on either unfortunately. Should I let them foreclose? Is short selling a better option? I am reading about anti-deficiency laws in the state of AZ, and it looks like they can't get anything out of me after foreclosure. (Both props are single=family residences...) I hear a short sell can potentially have big tax implications. So a foreclosure would hit my credit hard, but save a lot of $$ right? Any advice would be great. Thanks all!
  • A foreclosure would hit your credit much harder than the short sale, but both will still most likely have very bad effects on your score. If you can not be held liable for anything after a foreclosure in the state of AZ it sounds like a foreclosure would be your best bet here. However, I was under the impression that you could be hit with a 1099c (cancellation of debt) for both a foreclosure and a short sale. Someone please correct me if I am wrong. If this is the case then you could be hit with some serious tax implications either way. With a short sale the lender is agreeing that the amount the are being paid will settle your debt with them in full and you will receive a 1099c, most likely, for the difference of how much you owed and what the home sold for. With a foreclosure, you will still be hit with a 1099c and the lender in most states can still sue you for the difference although, this is rare that they will come after you. Many people simply file bankruptcy after a foreclosure (or before or during for that matter) so they are not responsible for those debts any longer and no one can come after them after the BK. Check out the pages below for information on short sale and foreclosure. Best of luck to you, but you may want to at least consult with a bankruptcy attorney to be sure you make the best choice.
  • very good advice Here: http://www.foreclosureinfousa.net
  • If you aren't current on payments, the lender is entitled to repossess.
  • You'd have to catch up on the payments or come to an agreement with the lender on a new payment plan
  • My house has began the foreclosure process and will be final in aug. I can not afford to keep it. im not worried about my credit, but i am worried that the bank will try to recover the approx. 80k that will remain after it is sold at auction. I owe 260k and the same house down the street sold for 180k the foreclosure has been given to a local atty to act as trustee. I have only one loan on the house. please advise!!
  • Most likely the bank will not try garnishing your wages, although they can sue you for the difference and attempt to collect on their debt if they so choose. More likely though you will receive a 1099c for the amount of the difference and you will have to claim this difference as "normal" income and you will have to pay taxes on this amount though. The 1099c is due to a cancellation of debt. Your other option is to file bankruptcy which will protect you from the lender coming back after you for this difference. Best of luck and read below for more information on foreclosures.
  • enable's see... your husband's paycheck is approximately to be garnished with an account with a credit company that he in no way had an account with a economic company that he in no way had no longer look on his credit comments i hit upon your tale magnificent. enjoying lack of expertise isn't making your challenge pass away, pleading lack of expertise has get you the place you're at on the instant. Accepting responsiblity is the only thank you to sparkling up your challenge. you do no longer understand what to do? why do no longer you initiate out calling the economic company and credit company, you have their information. they are able to furnish you solutions on your very own questions greater suitable than all of us right here. human beings's guesses listed under are out of wax as you will see for your self. via the way, no you could actually garnish your wages without a judgment from the court docket and record a request for garnishment with a court docket. And getting a garnishment against your paycheck would not happen over night the two.
  • You'll have to check your contract. If it is written "without recourse" then the bank will have to accept whatever they receive at auction as payment of the obligation in full. They will not be able to pursue you for any balance. If the contract is written "with recourse" then they can go after you for the shortfall. Comb through the loan agreement carefully. It will state if it is "with recourse" or "without recourse" somewhere, possibly buried in the fine print. Keep in mind that there's a chance that you may have a taxable gain on the cancelled debt. The bank will send you a Form 1099C at the end of the year listing what they figure as the taxable portion of the forgiven debt. If you are insolvent at the time of the cancellation (that is, if your liabilities exceed the FMV of your assets) then there is no tax on the forgiven debt. Consult with a local tax pro on that issue and for advice on proving your insolvency status to the IRS at the time of the COD.
  • That's why they have PMI on the mortgage. They should charge their loss against it.
  • If you mean five days to leave the state to avoid responsibility for the alleged debt, that is not a solution to your problem at all. The one thing a failure to appear for a court summons accomplishes anywhere is certain victory for the other side, and on their terms, which will surely be garnishment of wages wherever you go. They will find you and obtain an order of garnishment.. On the other hand, appearing as ordered not only gives you the chance to argue your case if you are unable to pay the amount the lender wants from each check but also might prevent a bench warrant. Furthermore, if you call the lender or its attorney right away, you very well might reach an even better settlement than the court would offer and avoid having to go to the hearing at all -- legally.. Failing to appear at all submits you to the good possibility of a fine and/or jail time.
  • A "rent to own" (otherwise known as a "land contract")transaction takes place between you and the owner of the property. In essence, the property owner becomes the lender rather than a bank or mortgage company. With that in mind, you can probably strike a deal with a willing owner and never have to tell them about your husbands record. Chances are good that the property owner will not have access to your credit records. Review your "land contract" with an attorney before you buy a house using this method. There are many pitfalls. Good luck with your home purchase.
  • 2
  • Rent To Own Homes - http://RentToOwnHome.uzaev.com/?azsz
  • Hummmmmmmmmm...........looks like Public Subsidized housing for you.
  • I was told by my Realtor that the short-sale would not be a good option because the banks (I have a 1st and a 2nd) can come after me for the difference and that due to anti-deficiency laws in AZ they can't on a foreclosure. Also, that I can be taxed on the difference but I thought hat they was a law passed to give relief on that? I also asked about deed in lieu of foreclosure and he said that would not be a good option due to the same issues as a short sale.
  • Not true. If done properly, the deficiency balance would be waived by the lender. I have been doing short sales for 4 years and have never left any borrower with an outstanding balance to be taxed on or paid back. A lot of realtors who do 'short sales' care more about getting their offer accepted and closing the deal then they care about what happens to you so be careful. Google my name if you would like to learn more about how to do your own short sale safe and effectively. I do not charge for this service. Whatever you do, DO NOT LET IT FORECLOSE! short sales are a pain in the butt, but WELL WORTH THE FUSS!
  • Hello Please go to this website: http://www.almahelp.com/alma/request/This is the only company I have found that is a reputable loss mitagition company that WONT charge anything upfront.... they will only charge you IF THEY CAN HELP,... unlike those other companies requesting anywhere from $1800-2500.00 UPFRONT, yet they cant gareentee they can really help..... ALMA cant either but at least they dont charge unless they do help.
  • Hi, I used "Credit Solution" to settle my debt and avoid foreclosure.They managed to reduce my debt up to 58%.It's legitimate.I came across this company on NBC News Special Edition.Check it out here: http://d6b0.easyurl.net
  • Question: If one person puts 50% of the house cost down are they the sold owner of the property? My husband made the money before we got married and he wants the house to be in his name only?? He said that he will made all of the mortgage payments but he needs my credit rating for him to get a cheaper rate. He has a living trust set up and I am the executor of the trust.
  • As long as he puts the title to the property in the name of the trust. he's going to have to put it in his and your names to get the loan, then you will have to transfer title over to the trust after the transaction. Lenders don't loan to trusts, only individuals and business entities.
  • No matter the amount put down on a house, a mortgage loan can be in his name and the TITLE of the house can be modified after funding to have your name on it too. If you husband made the money BEFORE you were married, if divorce were to happen, that 50% amount he put down on the house would be HIS and ONLY HIS property, thus allowing him that amount of value from the home. It doesn't matter who makes the payments once you are married because Arizona is a Community Property State (see link below). That means that EVERYTHING you had before marriage is YOURS to take at divorce and EVERYTHING he had before marriage is HIS to take. EVERYTHING you accumulate from the first day of marriage is then shared 50/50. I'm unsure why you mentioned the trust. Not sure how that is relating to your question. I hope this helps...
  • If your name is going on the mortgage, get your name on the deed too. If you are legally liable for the debt, make sure you have an interest in the asset.
  • I got a ticket for going 40 on a 25mph zone and i got pulled over and the cop took my plates because i had no insurance, so now that i have insurance i went to he DMV and showed the proof of insurance to get my plates and registration back and they are just making me go back and fourth between the insurance agency and the DMV. And now they are saying that i need a SR22 insurance which is not a problem but the DMV in Arizona is saying that i need the co-signer that is on my contract to be on the insurance and they need a copy of his Drivers Licence which he doesnt have but he is just a co-signer. all i should need to have from him is some sort of ID, rite? I am getting frustrated and i would just like some advice on how to speed the process up, meaning what documents do you think i should have ready to get my damn plates back? thanx... -Heidi
  • Yes, you need all the things they require to get your plates back. That is the consequences of going 40 in a 25, and not having insurance. If you have a co-signer, that tells me your car is financed, which tells me you are in violation of the requirements of the lender, who told you you needed full coverage insurance with them named as loss payee. Since you didn't have that, they *could* actually require you to pay the full balance, or take your car back, so consider yourself lucky if that didn't happen. Your 'frustration' is a direct result of you not following the rules, so live with it.
  • in the future, inquire as to what is needed BEFORE you make the trip to the DMV. the info is found on the website, via the insurance agent, and a phone call away. this is a great lesson for you. make better choices in the future.
  • Liability is. However, if you have a loan on the vehicle the lender most always requires you to carry full coverage insurance as part of the loan agreement.
  • AFAIK, 'Full coverage' isn't required by any State. They're concerned with your ability to cover liability to others, not repairs to your own vehicle.
  • It is for the lender's protection. If they say they won't lend to you without it, you have to do it or find a different lender.
  • on a home mortgage most Leander's require escrow so they know that your house insurance and taxes will be payed as long as you owe for the house.
  • j
  • While your first mortgage may be non-recourse -- I believe that AZ requires that -- your HELOC is almost certainly not. If either lender forecloses the HELOC holder will almost certainly try to recover whatever they can. Some may give up and forgive the debt but if they don't then bankruptcy would be the only way out.
  • your options??? WHAT ABOUT HONORING THE LOAN THAT YOU AGREED TO PAY.
  • Are you asking about a Arizona type C corporation? In theory, any credit union or bank will make a business loan. With that said, they are very tough to get these days. You'll need to show an excellent business plan, and be able to convince them that you are a good risk. But, I don't understand about "without bank statements". All loans are documented and you will get monthly statements. If you are suggesting that your business is somehow illegal, in that you are doing business under the table, no bank or credit union will give you a loan--it would involve them in a criminal activity.
  • What personal assets do you have? I could care less about the 4 year old business, but if you want to put up your home as collateral, I would gladly give you a 30% LTV. There is a guy behind the bowling alley who doesn't check statements, but he also breaks thumbs...
  • none will make a loan to you without bank statements and tax returns.
  • Not sure if this applies, but it's great knowledge. . I work for an energy-efficiency company in Tempe, Arizona and we have a program that can help homeowners just like you. It's called an energy-efficient mortgage, or EEM. The idea behind the program is to allow homeowners to refinance and then include energy efficiency upgrades into that mortgage. The cool part for homeowners is that it allows them to refinance WITHOUT an appraisal, to save money on utilities, and to increase the value of their home when they do resell it. I'm sure there are similar programs near you, and maybe even programs better fitted to your situation! In that case, it may be better for you to go with the lender through the program. Just make sure to have an open mind, and find the best program for you - Stay serious, focused, and keep a look out!
  • Small banks and credit unions were not hit as hard by this foreclosure fiasco. Call any of them and make an appointment. All you are trying to do is get a pre-approval letter first so you can know if you qualify for a home. They will also want to see 2 years worth of tax returns to qualify your income. And they will want to see a down payment with some savings left over. Any lender will want to see any collection items paid off on your reports. These collection agencies tend to sue you. And banks know that they can garnish your wages and tap into your assets, making your income less. And then you can lose your home. Check all 3 reports once a year at no cost at Annual Credit Report.com https://www.annualcreditreport.com/cra/i...Don't pay for the score, unless you know your reports are all cleaned up first.
  • i am looking to buy a condo or town home, this is my first time buying and i need a good place to start. What company would you reccomend for a first time buyer? I live in arizona..any good companies there? I don't want to rent an apartment anymore..so am looking for something to own. Any help would be appreciated.
  • You don't need to start with an agent, you should start with getting your mortgage money preapproved. You can apply with lenders and get a letter of what you can qualify for. Most realestate companies have online shopping now adays. First make sure that your credit report is accurate and get any old or negative info off before you apply with anyone. Realestate agents get about 7% from the seller so you might even find something for sale buy owner and they can give you a better price without an agent. Happy shopping... Remax and Coldwell banker among others let you shop online without too much info.
  • The company doesn't matter, it's the agent you select. Why not invest a few hours and take a seminar on buying your first home. They are put on by non-profit groups all over the country and are free. That way you will know what the agent is talking about and can make an informed decision instead deciding on soley emotional reasons.
  • Here is the FIRST thing to remember when going to a real estate company - they represent the seller and the seller's financial interests. They do NOT represent you, the buyer. They may be looking for a home for you, but they are tied to the home's seller, not you. Understand their motivation.
  • Use and EBA...and Exclusive Buyer's Agent. The represent your interests in a serious way....like all buyer agents are supposed to. They are the real thing. John Herman
  • The agent makes the difference not the company. ~
  • I would be more than happy to help you. Go to my web site and read my success stories to get a feel for how I take care of my clients. Terry Smith http://www.Welcome2Arizona.com
  • We filed for bankruptcy five years ago, I have not been working for two years straight(Which i know is a requirement). I am still married to my husband but have been separated for three years. I want to see if it's possible buy a house by myself as I do not want to depend on my husband since he does not see it as important to obtain a home for our children, I have the money necessary for the first money needed but am wondering if its a possibility.
  • As you don’t have a job right now, lenders won’t be ready to provide you with a mortgage. You will have to show some form of employment when you apply for a mortgage.
  • A realtor can give you all the info you need, including financing assistance. If you are not working, the odds are against you. They expect you to pay.
  • The mortgage payment is deducted each month from the same bank checking as the mortgage lender (same bank). No collections calls ever occurred, no letters, no conversation or contact then one day two weeks ago there is a foreclosure notice that the homeowner owes $11K and is in arrears months behind. The next week the sheriff comes and say you have a week to move out, but is showed and explained the homeowners have paid every month, no return payments no notice no contact made by the bank/lender. The homeowner calls the bank several days and can't get anyone who will help until one contact made with a representativee say the bank never got their money. They are behind. They bank can't explain where the money went but they find out the property has already been sold. What the heck are these homeowners supposed to do? Can they get an injunction asap to stop the eviction? can they sue? do they need to come up with attorney monies if they prove they have proof and are not in error? How do they get the bank to find the payment monies and explain where it went. Could this be fraud? What is the homeowners rights at this point? Why isn't the bank/lender responsible to trace where the money went each month?
  • Why would a lender be responsible for tracking any payment, it's the mortgagors responsibility to send in the payment and just because the mortgage and the bank account are with the same institution, it does not mean they work in conjunction with each other. That being said, this entire situation seem odd to say the least. What I would do is compile the bank statements showing the payments being made, grab a phone and call the customer service line, and demand to file a presidential complaint, do not take no for an answer and do not stop until you get to the office of the president. Thes complaints are very, very serious and are usually the quickest way to get things moving and if they give you any issues, I would simply state that you are taking the issue to the media. While I am only guessing, this could be a simple routing error on the banks end and while the funds where taken out, they may have been routed to the incorrect department, but for no notice, communication or any contact not to be made and the property foreclosed upon is in violation of many laws.
  • It's very unlikely that what you are saying is true. The bank wants their money, not the house. Something else is going on here. Yes the borrowers need to prove they made the payments. The homeowners should go to their bank and get the proof the payments were made with statements and also have the bank tell them where the money that was taken out went if it was in fact taken out. With that info in hand they should call customer service and keep calling until they get someone that will talk to them. Tell them not to take no for an answer. This whole thing sounds fishy but if thats really what happened I would keep calling and calling and calling.
  • If the payment was deducted from an account on a monthly basis, all the owner would need to do is print out the statements for the months the bank says they have no record of payment and show it to them.
  • Making alternating money is not extra suitable than making no money. The foreclosures technique will proceed. touch the lender and examine out to get a loan substitute. this could purchase time and in all probability shrink the pastime value, month-to-month charge and in some cases the significant stability. The financial enterprise will in basic terms talk with the valuables proprietor or a authorized representative. Take the money they have and hire a RE criminal expert to do the substitute for them.
  • States do not limit the number of investor or rental properties you may own. Mortgage lenders limit the number you might own to around 4 if you would plan to obtain a mortgage loan for the investment properties. There are a few that might approve a loan for more than 4 rentals. The interest rate would be higher and the qualification would be more stringent. You might get around this by forming a corporation with your properties listed. At this point they are assets or liabilities to the corporation depending on the debt owed and or income earned. You would be making a corporate loan as oppose to borrowing as an individual to purchase rental or investment properties. You would have to have a good working relationship with your bank, and have assets you are able to prove to your bank. I hope this has been of some benefit to you, good luck. "FIGHT ON"
  • I just got a car and need to sign the title into my name. The title is already notarized and open. I do NOT have a drivers licencse and never have had one. Can I registar,get plates and insurance all in my name without me having a driver's license int the state of Arizona? How much do u think it will cost? It's my first car and I am over 25 yrs old. Thx in advance.
  • ) What documents do I need to transfer a title and registration? Completed, signed title application (see # 6) Signed and notarized vehicle title Lien release, if applicable All applicable title and registration fees (see #2). Any other documents that apply (power of attorney - original or certified copy, personal representative papers) If there is a lien on the vehicle that has not been paid off, written permission from the lienholder/lender will be required to add or delete a name. 2) How much does it cost to title and register my vehicle? It varies depending on the vehicle. There is a $4.00 title fee; an $8.00 registration fee; plus an air quality research fee of $1.50; and a vehicle license tax (VLT) assessed in place of a personal property tax charged by other states. There may also be a weight fee for commercial vehicles and other fees. The VLT is based on an assessed value of 60% of the manufacturer's base retail price reduced by 16.25% for each year since the vehicle was first registered in Arizona (15% before 8/1/98). Then, as of the Dec 1, 2000 reduction, the rate is calculated as $2.80 (new vehicles)/$2.89 (used vehicles) for each $100 of the assessed value. For example, for a new vehicle that costs $25,000, the first year assessed value would be $15,000 and the VLT would be $420.00. The second year the assessed value would be $12,562.50 and the VLT would be $363.06. I thik INSURANCE will be the problem
  • Janet Parker from cottonwood town in Arizona state of united State of America, when i was in dire need of $5,000 for cancer operation in march this year 2009. i searched everywhere in view to raise the money and due to my desperations i was scammed twice by some of theseOnline loan scammers, until my child hold friend Paula Young introduced me to this God fearing and honest man Raphael Brown, the operation Director of Woods Donald Financial Homes Limited. He helped and transferred the loan to me within 24hours, so in hereby recommends anyone in dire need of loan of any kind to contact these God fearing man and their loan firm via this e-mail woodsdonald40financialhomes@yahoo.com tell him that Paula Young referred you for approval.
  • Almost sure that you must find many financial solution at= loandirectory.info- RE Single mother looking for a loan from private lenders in UK? I am a mature lady working in UK. I am looking for a loan to the tune of £2000.00 payable back with interest. I would like to pay college fees for my daughter. UK lenders only ...mostrar más
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  • Before you start planning how to handle your taxes, you will need to know if you below to the higher income bracket, or the lower income bracket. Talk to your local accountant and get an idea about where you stand. You visit http://www.dulawat.com this site will help you in all aspects.
  • Can you lower the price and short sale the houses? A short sale will be much less devasting to your credit than foreclosure. It is not possible to foreclose and not lose money. If those states allow deficiency judgments, the lenders will come after you for the amount you still owe. Your credit will be trashed and you will pay more for everything that is based on credit score.
  • Well, It's not just about losing money. Unfortunately Arizona is one of the states that has been hit hard in the real estate market for low resale prices. Although I don't see how you can't? Unless you had a 100% loan with no downpayment. Still, a default on your mortgage will go on your credit history. That has a far more reaching effect than just a couple of hundred or thousand $ during the initial purchase or any repairs or decorating you did when you moved in. As a lot of people are now doing is that they are renting the home until the market rebounds. Talk to someone who has been a landlord for a while (1 to 2 years +) and weigh the differences for yourself. My home was in good cond (starter home-1125 sq ft) new interior paint & clean. On the market since April 07', and I ended up renting because I knew my home was worth more than the current market conditions & am willing to wait it out. I hope this helps. Also inquire about the tax advantages (deductions & depreciaton)in having rental property.
  • A short sale is a completely separate agreement, as such, even in states where the lender in foreclosure proceeding would be prohibited from collecting the difference nothing in the law prevents the lender in a short sale agreement to require the owner to sign a promissory note on the difference as a condition of accepting the short sale; its becoming more common in short sales
  • they will 1099 you 50k but if this is your primary residence, then the mortgage debt relief act of 2007 will protect you. If this is not your primary residence and if you can prove that you are/were insolvent (poor) at the time of the short sale, then your accountant can protect you and you don't have to pay.
  • Of course. Forgiveness of debt is income. You pay income tax on $50k. The precise amount of the tax would depend on your other income and deductions.
  • Contact a CPA to help you calculate your overall tax picture if this happens.
  • No, but a copy of the insurance binder in an amount sufficient to replace the dwelling in case of a loss is required prior to closing.
  • Standard practice for a bank to require replacement insurance coverage for any property they are lending on.
  • Did they say why they couldn't? Did it say in your agreement with them that this would be provided? Might be they've got some idea that data protection prohibits it.
  • Generally yes. The lender will also be named on the policy as the lienholder.
  • they will ask for it, ultimately who ever is doing the signing will inquire about it further , like the escrow company. The lender has to have the home insured for fire & the like
  • Absolutely, 100% yes. They have every right to make sure that their collateral for their loan is properly insured. If you don't like it, pay off your loan.
  • It is here in Minnesota when you close on a loan.
  • If you really want them to borrow you money, it is in your best interest to have that "i" dotted.
  • Actually not a single foreclosure is going to be stopped, all of those people are trying to keep the banks money. There were some people who signed docs without reading them, so they are being read this time and signed again.
  • Arizona is a non-judicial state which means the foreclosure process usually happens out of court with minimal court intervention. You can review the foreclosure laws for your state by clicking the link below then selecting your state. The states have already began to revise their foreclosure legislative laws with some expecting major changes in the near future. Kenton County in Kentucky, is now requiring lenders to prove they own the note as well as show the note's and its assignments were recorded timely. New York is now requiring attorney's to submit affidavits certifying they reviewed the file just to mention a few states who already are revising their laws. The attorney generals from every state are now meeting to determine how each individual state will revise its laws as one voice to prevent the abusive behavior of lenders. The laws will not be passed on time to help everyone but change is coming. http://www.worldclassmemberservices.com/...
  • Judicial foreclosures usually require full documentation. I don't know if AZ is a judicial foreclosure state or not.
  • I am very sorry to hear that. As for them forcing you to move, I don't think the lenders can just kick you out if you don't have alternative accommodation. I don't know about Arizona, but in most states, you can take this matter to court if you are being evicted. Even you are told to leave, they can't really have you removed by force (I hope). I wish you the best of luck.
  • i am so sorry to hear this. i am going to pray that something good will come of this for you. i would hope that circumstances will be taken into consideration when they give you a time/date to be out of the house. .......i really don't know the answer here, i really just wanted to send you my best wishes and hope that you get through this well. all the best from someone in canada.
  • I am a Realtor in AZ. I work in Avondale , North Valley etc My website is www.kimorge.com and you can use my site to find info on areas and search homes on MLS right on my site. All homes that are on Realtor.com come through my site. I work with a lender that KNOWS VA FHA and conventional. Will you be looking to be around Luke AFB? My info is on my site...let me know if you have any questions. My Loan Officer's site is www.dantadgerson.com
  • http://www.come2az.com/
  • Hi-This will depend on your credit score, employment wage, past 2 yrs tax statements ,type of loan wanted-alot of factors to consider!...If a lender tells you an amount over the phone without running a credit check-do not believe that!...As they have no way of knowing untill they do certain things!...Also once you get quoted a rate make sure to lock it in!... Featherstone Mortgage is an awesome place to call -as they are no bull and will tell u straight up what is possible and whats not and how to fix problems with your credit!...I believe they do more then home loans!...It is located in Portland/Milwauki Oregon!...I dealt with an awesome Gal named Peggy H.
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  • i will take 3%
  • You have 3 choices: Find an owner with a free and clear house who will accept payments. You don't get a mortgage at all. The seller holds your "mortgage" in a carryback. No MI. Ask the seller to carry the difference between your down payment and the 80% mortgage. The law is that the seller must carry for at least 5 years. Most sellers are willing to help but they want to be paid off in 2-3 months. They must wait 5 years. You find a "hard money" lender in the newspaper classifieds. He loans you the entire purchase price and you pay him 18% interest. After you have been in the home for 2 months or 6 months, you will start to receive letters from banks offering to refinance your house. YOu hire one of them to refinance the house but only if the appraisal is high enuf so you don't have to pay MI. It will probably work if your credit is good..
  • Not really unless you have nice parents who can loan you the money. Get that $8000 tax credit and apply it to your new house. Also remember that those PMI payments are deductible on your taxes
  • should be able to do so without any problems. as far as loans go you have a three day right to recission. meaning if after signing all the paperwork and such, if you wish not to continue with the laon any further and want to "cancel" it, you have three days to do so in writing. but as far as closing the house, I don' think the realtor will want to lose the business nor the lender from who you borrowed the money from. you should be safe. just make it aware to them that you may need or will need that extra time.
  • Yes, you're on the right track... It's called a Cure Period Notice & your real estate agent should complete this form and submit to the Buyer's agent. What this form states is, "If the non-compliance is not cured within three (3) days after delivery of this notice (the Cure Period) the failure to comply shall become a breach of contract". In your case, the "non-compliance" would be not closing by the date on the contract. If the Buyer doesn't comply w/in the Cure Period, you can cancel the contract and keep the security deposit. Finally, if you choose to give the Buyer more time than 3 days, have your agent draw up an addendum, mutually agreeing to extend the COE date (including deadline date).
  • I actual have been in authentic sources because 1978. I actual have discovered the desirable prepare is to sparkling this up on the "front end". while the appointment grow to be made for the inspection i might have additionally come to an settlement between the client and broking as to truly while the cut-off date may be. You confusion is that 5PM would or would possibly no longer be organisation hours- yet I wager the broking thinks the cut-off date is Friday afternoon. they'd think of that it extremely is 3 PM or they'd think of it extremely is 5 PM. it would be extra desirable for the two to comprehend the comparable issue. ************* That remark the different agent stated approximately "nighttime" Friday- factors out yet another plausible confusion. Legally nighttime is the commencing up of an afternoon- so nighttime Friday may be very early on Friday morning. it would be extra desirable to declare 11:59PM in case you imply the top of the day overdue on Friday nighttime. In Texas maximum of our references in contracts do no longer say organisation- basically days- and due to that we count huge style Christmas and Sundays and another day. yet once you're saying organisation- you should be very cautious that the two events completely comprehend what day and time is the top.
  • just talk to your realtor, explain WHY you need the three additional days, and there shouldn't be any problem. 3 days is not an excessive amount of time, especially if there are contingincies to be met, etc. the real question is, have you asked for many extensions to the contract already? if not, 3 days is reasonable, and you should be allowed to schedule the closing in 3 days and be fine! good luck!
  • I want to pay off the mortgage on my home. I have the cash, but have been reluctant to pay off the mortgage because of the tax benefits. Is there any reason that I cannot create my own mortgage company, fund it with my capital, and re-finance through this new company? I already have an LLC that I could use for the new company (or can create a new one). I would much rather be paying interest to myself, and taking the tax benefits from the interest. I could probably get tax benefits from owning the LLC around the expenses I would incur in starting it up and running it. What am I missing? What are the gotchas? And if possible, what do I need to do to make this work? I read that it is easy to create a private mortgage contract, so I can't image it would be much more difficult than that. BTW, I live in Arizona, if that makes a difference. Thanks!
  • You are missing this thing called related party transactions. Unless you have SEVERAL other customers for your "company" the IRS will disallow any of the benefits of lending yourself money.
  • You must be mindful that there will be tax consequences on the receiving end of the equation. No matter what the entity is, LLC or whatever, you might be able to defer the taxation at best, but eventually the taxes you saved by having mortage interest would be recaptured by the income taxes on the interest earned by the mortage company.
  • Tax benefits. Give me 10,000 in interest a year - I'll give you 2,500 back. Seems idiotic doesn't it? Do you have kids going to college someday? Do you know how rich people get their kids in college for free? They pay off their house. The FAFSA does only looks at assetts in taxable accounts. It does not count your home, cars, boats, or credit card debts. Paying off the house is the best way to "hide" money from FAFSA. Google EFC calculator or go to finaid.com There are books that teach you. Never invest to save on taxes. Your goal should be to pay as many taxes as possible. A whole different way of thinking and a sure way to get super rich fast. Ex: Never invest with a goal of saving on taxes. Don't forget to fund your 401K to heck as well as letting your wife have 5K a year in a traditional IRA. You invest in a roth if you can. /
  • To be a lender, you would have to be granted a license by the state, have reserves, and a qualified broker as an employee. Then there would be other consequences to lending yourself money which would likely trigger a tax audit for both you and the company. The following is an example of Oregon law. http://dfcs.oregon.gov/mortgage_lending....
  • IF I understand your question; May I lend money to myself? u can. Companies are started that way. NOW, for the purpose-- so instead of making payments to an external finance company, I make payments to myself. Is that what you want to do? Your return will be poor. Lenders earn money off of points. And they sell the loans to public firms. I also live in AZ. email me. we can chat about this and about what you really want to accomplish.
  • You should be able to unless you have other outstanding debts. Your house payment should be about 25% of your take home pay. So you should look at payments principle and interest payments that total around $900/month. Remember that real estate taxes and home owner's insurance are added to the monthly mortgage. These additional payments are known as your escrow. The lender is allowed to collect excess escrow from you so there is a cushion against rising tax rates and/or insurance rates. This would depend on how high the real estate taxes in the area where you're buying.
  • Figure 1% of the homes total price for the payment - $1,290.00 Can you afford that? Do you want a new car in the next 20 years? Are you saving for the kid's college? braces? Depends on how you want to live.
  • yes you can, i live in nyc and i make 70,000 a year and i bought a house 3 years ago for 410000 and we have 2 leased cars and go on vacation 1 time per year with 3 young boys at home. you are good to go.....
  • first thing i would suggest is to get pre approved. this will take out the guess work and will give you a better idea of what you can afford. After that you should be able to find a down payment assistance program in your area if you have low to moderate income. Hopefully you have good credit, or else it is going to be very difficult to obtain a loan. Hope this helps and good luck
  • With the market so bad and all those banks closing in Las Vegas and Arizona, be careful. With the foreclosure rate so high, the loan requirements are being very, very stiff and they make it almost impossible to get a loan. If I was you, I would play it safe by finding a good deal where you could just either pay cash for the home, or just hold off for a while until the economy does better and the loans will be less complicated to obtain.
  • You need to be qualified first. So I suggest you talk with several lenders in the area. See what programs they have and select the one that best suites your financial situation. Then you should find a Realtor to help you thru the rest of the transaction. Don't be afraid to interview them. It's important. That is the easy part. The hard part is making the decision on which one to buy! LOL Best of Luck!
  • There is a first time home buyers program that you will qualify for. Consult your realtor in the Queen Creek area. Watch the interest rates. You want to lock in on a good interest rate like 5% - 6%.
  • Mortgagee's (lenders) don't hire directly. They hire mortgage preservation companies and those companies hire local vendors. Google mortgage preservation and make application to them. It's a tough nut to crack. It took me six months. realtor.sailor
  • I'm really eyeing a property that went to auction back on September first and has yet to show up in the MLS or have an update on Realtytrac.com. Market value is less than 50% of the outstanding balance owed from the previous owner, so I’m assuming it didn’t sell and will now become REO. How long does it typically take for a property to become available for sale after a no-sale at auction? Time is starting to run short to close in time for the tax credit--are there any steps I can take to get the ball rolling? Would approaching the lender directly at this point be advisable or will they not be interested until it hits the MLS?? The house is empty and a notice on the front door states the locks had been changed almost four months ago. There is also a key-box on the knob. Thanks and wish me luck!
  • In Arizona the time from Courthouse auction to For Sale sign in the front yard is down to 3 days. The banks have done their homework in advance. They have a work crew empty the trash and clean up. Some houses are slow to go on the market. I would expect yours to go up for sale by next week.
  • My husband has a foreclosure on a house from 2003. But he was told that on his credit history that the foreclosure still shows that it is "open". If he received a 1099-C in 2003, doesn't this mean that the loan was closed because the house was sold and he had to take the hit to his taxes that year? I thought if you had a foreclosure that part of the process was done, and how can it still show open if the physical house has been sold and someone else now owns it? I'm SOOOO confused!
  • The lender has 6 or 7 years to pursue the shortfall from the foreclosure auction. They seldom do; but they can. He is protected in Arizona and California but only if the loan was the original loan he used to buy the house.
  • CW SUCKS! Oh I'm sorry, showing my true feelings. CW by the way no longer exists, it's Bank of America now. And they suck too. Yes it is my understanding that a 1099C forgives the balance of the loan, but is reported to the IRS to pay taxes on as income. I would force the issue with Bank of America.
  • I live in Arizona, and have posted a few questions regarding my situation. My landlord hasn't paid his mortgage in 14 months or more and my home I was renting was finally foreclosed on. I had no clue this was happening and didn't find out until Thursday. Today I receive a letter from the eviction lawyers stating I have 2 weeks to vacate the premise or the sheriff will arrest me on the spot. I am not happy about the short time I have to find a new home and move out immediatly. I have already called the realtor from the bank and they are offering me a "cash for keys" deal that will give me $1000 to be out in two weeks. I think this was a low-ball offer since my rent was $2,200 a month and it is within such short notice. I have a place to stay worse case scenario but I am hurt to know that I am threatened with being arrested for trying to move out as quickly as I can. I didn't think the economy was going to affect me since I have a good job and have money in my bank, but there are many who are in a worse situation than me.
  • I wasn't in a lease. My beat *** landlord has his cell phone turned off and received a letter from his friend stating that he has left the country. I looked him up on the recorder's website and he has lost man houses and owes hundreds of thousands of dollars on my home as well as many other homes. It hurts me to know he did this to many families and didn't bother warning them. If I see him face to face I swear I would knock him out. I have no sympathy for this coward.
  • The letter from the lawyer is pure B.S. They have to file a lawsuit and win the case in court before a sheriff can throw you out. They will do that but it takes time--usually in the 5 to 6 weeks range. They are hoping that you are ignorant of the landlord/tenant laws and are stupid enough to move. You will lose your security deposit. The only way to recoup part of the loss is to stay in the house until the day before the sheriff comes to throw you out. The $1,000 is a lot less than they expect to lose if you stick around for the bitter end--that is why they offer it to you. You can ask for more time or more money or anything else you want to but don't expect them to grant you anything. You really should read up on the laws in Arizona governing evictions. That knowledge is your best defence against the unethical tactics of the lender's legal department.
  • Get a lawyer today, or as son as possible. If your daughter plays her music too loudly, that's legitimate grounds for eviction. If you owe back rent or back fees, that's legitimate grounds for eviction. There's no legal requirement for the landlord to tell you you're late on the rent, you're supposed to keep track of your bills yourself. Don't want to sound like a hard case, I have a lot of sympathy for your situation - but there are two sides to every story and we're not getting the other side so I can;t really make any judgment call here without complete information. You need a lawyer ASAP.
  • Sorry about your situations, but I would take the money and run. They don't HAVE to offer it to you. They could just proceed with eviction, and then you'd not only be out, but you might have an eviction in public record - not something that looks good when you try to rent again. It's not your "fault", but the banks don't care about your record. In fact, they don't care about anything except getting the house sold ASAP, and you are now a hindrance to that process. Move. Now. Take the money.
  • Every state has laws regarding eviction proceedings. It has to be done through the courts. They have to file, have you served a summons and then a court date is set in eviction court, this takes a lot longer than two weeks. You can either negotate with them for more money for the "cash for keys" or tell them that you are aware that they have to take you to court. Nobody anywhere in the US can be evicted on the landlords or the banks order. You have rights. Stand up to them. Then they will probably up the money and it will be your choice whether to take it or take the time that it take for them to evict you legally. Good Luck!
  • Do you have a lease? Was the rental legal? Or have you been renting an undeclared rental property? Lots of things to consider. Take the $1000 and leave, if you have money in the bank, a good job and decent credit finding another home should be real easy. Good luck.
  • It never hurts to ask. But you lose their first offer. The foreclosure cancels your lease.
  • "Non-Recourse" means they can't come after you if it was your personal residence and the loan is the original loan that you used to purchase the property. If you took a 2nd loan or refinanced, they can come after you for any money they lose. I'm in Mesa. /
  • Arizona No Fault State
  • No Fault is not the proper term. Arizona is in fact a "Non Recourse" state. Meaning they CANNOT come after you for the deficiency as long as there was no fraud committed to getting your mortgage. http://www.Welcome2Arizona.com
  • There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first. Try http://www.speedyrealestate.info. Good luck!
  • Not certain, but most owner occupied purchase money mortgages are 'non-recourse' debt. In other words, if the lender forcloses, their only recovery is from the sale proceeds. They can't chase you for a deficiency judgment. You're right about the credit, but that's not the end of the story. I have worked with many people that recovered from bankruptcy, divorce, foreclosure, short-sale, etc... It's hard work but you can get it back. Take care of yourself and family.
  • its not the end of the world. pick up and go on. You're not filing bankruptcy are you. With all the incentives in DC is there anything there that can help you or you just too far in over your head?
  • I'm sorry to hear about that. Isn't there anything that you can do at all?? You shouldn't just give up. You have to fight for your home! Anywho, dug up something and this might help you! http://www.whataboutloans.com/state/mort...
  • Are there any down payment assistance programs for first time home buyers in arizona with moderate income? By moderate i mean a combined income( my spouse and I) of 55,000. We live in tucson arizona and are in the process of getting pre-approved for a home loan. We both have credit scores near 700 (i am at 695, she is at 698) If it helps i am a college student and also work full time. Thanks
  • Your lender should be able to hook you up with several. But know this, they just passed legislation to ban this type of assistance, you have until October to secure a closing.
  • There are "assistance" and "bond issue" programs available about 60 days a year in Tucson. I just sold my Tucson house. There is never a lot of money and there is no one place that you can go to be put on a "waiting list". It's discouraging but you have to watch the newspaper. In Phoenix there is a program today to lend homeowners up to $30,000 to fix up their house if they live in certain areas which are designated as "blighted". When the bond programs (the money is raised by the city of Tucson by selling bonds) arrives, there is a strong chance that you will be required to live in a "target" area which means that you can't live in the most expensive areas and still receive the money. Call the main number at City Hall and ask who is most likely to have "assistance" money for a homebuyer. They will help you.
  • No 100% financing is not available any more as of 4/1, the max lenders go up to is 97%. So you'd be required to provide a 3% down payment since you have great credit. Just remember though you will have to qualify for the loan showing that you can afford both mortgages without the potential rental income being included.
  • I'm a Realtor so I know 100% financing is possible. Are you buying a home that will be move-in ready, or one for cheap that you want to fix up? If you are buying a rehab home than 0% down probably wouldn't be possible unless the home checked out in average or better condition. Fair or Poor is a no go. Talk to a mortgage representative. It is free for a pre-approval and doesn't hurt your credit.
  • 100% doesn't exist anymore. go to safemortgagesolutions.com and check them out. my parents got some loan information from them from yahoo answers. good luck
  • its a catch 22 , you have to work in a bank...so you have to start there. then get moved up and sent to finance school. then you might be a loan officer if things work out. but don't count on it.
  • My husband and I are looking to buy our first home together. We are trying to get in on the $8000 tax credit before Dec.1, and we heard there are a lot of great programs out there for first-time home buyers too. We are looking for something in Arizona. Can anyone offer any suggestions of good programs they know of or have used? We're open to buying a foreclosed home or a new home - whichever. Any good references would be greatly appreciated!!!
  • Find yourself a good lender...They can help you will assistance programs out there. I can suggest a couple in AZ if you need them... You need to start there. Find a realtor you trust, and have a good relationship with. This process can be very stressful and the loan process can be "violating", so if you have a realtor, that is not "high pressure" it will make your process much easier for you. Have you started looking at homes? Do you know what part of the valley you are interested in.. SE Valley (Chandler/Gilbert), NE (Scottsdale, Cave Creek) NW Valley (Peoria,, Surprise) or SW (Goodyear, Avondale)... Let me know if you need any help. I will be happy to assist in anyway I can.
  • Stop in to a community bank in AZ. Talk to one of their loan officers about FHA loans. FHA only requires 3.5% down payment. That would be the way to go unless you have 20% down payment then go Fannie/Freddie. No real need to buy a foreclosed home in this market. They usually need alot of work to get them "livable" again. If you want HUD has the "$100 down payment program with FHA" Ask your realtor to show you or search for HUD owned properties...keep in mind, they wont be pretty. Best of luck in your search, you have to get started now, the tax credit is only good until 11/30/09. FYI, it is not $8000 auto. It is $8000 max, the tax credit is for 10% of purchase price. So if you buy a $60,000 home you would only get $6000 not $8000. $80,000 purchase price = $8000. $200,000 = $8,000 Again, I would suggest going through a "Community Bank in the area you are going to/want to live"
  • the defense force isn't in business company to purchase properties of each soldier they relocate. it extremely is to not say it not at all happens, besides the undeniable fact that it extremely is uncommon. yet because of the fact they reassign human beings so in many situations they do have a gadget applied to ease the transition interior the direction of using the centers of very own relocation companies which will paintings to sell your place when you bypass away. I recommend you touch the backside relocation workplace for info.
  • Arizona is having a budget problem and lays off teachers frequently. I was laid off for several months and just started a new job about 8 weeks ago and there is a possibility I could be laid off again because I have a temporary contract. I'm renting with the possibility of renting to own because of the lay off potential but was thinking that if I qualified for a down payment assistance program (I have to live somewhere and pay rent even if I am laid off) I could buy something and get that $8000 tax refund as a first time home owner. With down payment assistance, $8000 tax refund and my savings, I could survive on unemployment until I get another job. I'm highly qualified both by state and federal standards and can teach K-12 English, music or regular k-6 classroom. I'm marketable with a lot of experience and my evaluation stated I am recommended for rehire. However, that doesn't mean anything in Arizona. I have never purchased real estate before and I'm nervous about where I will live and my job situation. Any suggestions from reputable sources? I'm going ahead with renting this condo with a room mate but have the option to rent to own. Is this a good financial move and how can I improve my living conditions in this economy? I have a good credit score of about 700 and good employment history right now.
  • I have not heard of any programs, but I am not in AZ. The AZ lenders would know. But, your problem would be obtaining a loan, it will not happen without a real job. Collecting unemployment will not cut it for a loan that lasts 30 years.
  • I'm moving to Arizona in the summer, and will be applying to Arizona State before I move. So will I be paying the resident or non-resident fees? And for applying for a loan with it be the same as I would normally? I will be contacting the school soon, but I was just wondering if anyone knew, so I don't seem stupid over the phone.
  • You are most likely going to be paying non-resident fees. If you are in the military or a military dependent, then you might be able to get a waiver for out-of-state tuition. Just apply for the FAFSA... go to this website to apply for 2009-2010. http://www.fafsa.ed.gov/Once the FAFSA goes through, the school will send you some documents that you and your parents will have to fill out (It depends if you are a dependent or an independent student.) And they will also want copies of your 2008 tax return and yoru parents tax return (if you are a dependent). And usually all schools want all those documents turned in at the same time... Once they have all of the documents processed, then they will tell you what kind of financial aid you are eligible for. If you are eligible for student loans, then the school will usually provide a list on their financial aid website of recommended places for a student loan (you have a choice on who your lender is)... then you fill out a loan application (you can do it online) and you have to sign a MPN (Master Promissory Note, saying that you understand the terms and conditions of getting the loan.) They will also make you do some type of entrance loan counseling, and pay attention because it does quiz you about it while you are doing it (usually you can do that online too...it will be on the College's financial aid site too)... Then the school and the loan place will communicate, and eventually disburse your student loan... If you have questions, just contact the financial aid office at the College, and they should be able to help you.
  • I don't want to leave my home that I just purchased 7 months ago. I am listing all my options to try the best first and go down the line exhausting each one and foreclosure is the very last option that I would ever feel the need to use. I am currently looking into ways to restructure my loan, cash-out my stock, call in debts owed me, I even grabbed a part time job. My question is if I were to have to foreclose and my home was sold at an auction for less than the amount I owed the lender, by Arizona Law is it true that if the property is under 2.5 acres that I am not responisble for the difference in the loan amount?
  • Whether or not you'd be responsible for the difference of the loan will depend on the final foreclosure judgment. If there is a Deficiency Judgment added, you could be responsible for the difference. However, before even considering that ... please contact me. I can offer you another (BETTER) option to foreclosure and probably help you keep your home. Feel free to email me directly at jyworthy@cs.com. I'm a Certified Loss Mitigation Consultant and I'm pretty certain I can help. Hold your head up ... things will get better. Jacquelyn Y. Worthy Certified Loss Mitigation Consultant Behind 2 months (or more) on your mortgage payments? Been threated with foreclosure? You can stop foreclosure in its tracks! For a No Obligation Evaluation visit us at: www.2ndChance4Solutions.com
  • It was true that banks could come after you personally for the difference, but recent law changes protect you from that, of course your credit will be seriously damaged by a foreclosure. So your answer is yes it is true that you will not be responsible for the difference.
  • It relies upon, distinct regulations in distinct states. however the monetary enterprise actually purchase the domicile decrease back on the sherriffs sale / public sale. they are going to at last sell the domicile returned to recoup their losses and in many situations (state by utilizing state regulations )you will nonetheless owe the style from what they sell for and what your very own loan stability grew to become into plus costs & consequences. definite you're able to hunt for suggestion from an criminal professional that might actually assist you for the period of the technique!
  • I was once in your situation. Don't worry, everything will work out for you =) A year ago I found this organization that gives people up to $1500 in renter or mortagage assistance! They operate in most US cities, I highly suggest you try to get some of this money. http://www.help-with-rent-mortgage.org Good Luck!
  • you may refer your queries in this website. they have helped thousands save their home from foreclosure with their proven system and expertise. they claim they can negotiate with your lender to stop your foreclosure.
  • There is no set time. It really is up to the lender once they get the house back. And if they come in, they will just trash what is left behind. I recommend getting out NOW and taking everything with you. You knew this day was coming, so it shouldn't have been a surprise that you needed to move.
  • This is about an Arizona state primary property foreclosure. There are 2 mortgages on my forclosed home. One mortage was for approx 175,000.00 and the other was for 43,000.00 When I first wanted to get a house I did not qualify due to my income. However the company that I went through pushed it through by saying that I made more. Looking back it almost feels like they set me up to fail. They knew I could not afford the hosue and still they called me back and told me they made some adjustments and I ended up having 2 mortgages on the house and my payments were going to approx 1500.00 a month. At the time I got the house I was only making 1600.00 a month. They told me that everything was good and my house payment would not fluxuate that much. Then the economy went down hill and, and then I started having to use my credit cards for living expenses and started getting in debt. A couple of months ago they forclosed on me. I tried working with the mortgage companies and they were only willing to drop down my payment $50 less a month with a modification and $50 less would not have helped me at all. I had aurora loans and country wide home loans. Now that I have been forclosed on, am I going to be responsible for the debt? Will they garnish my wages over it? Are they able to take my truck and other vehicles that i own. I DO NOT OWN ANY OTHER PROPERTY. Just a few recreational vehicles that were given to me several years ago as a gift from a family member. Please HELP!
  • the 2nd mortgage disappears if that lender does not pay off the first. THEY cannot come after you for any of the debt......but someone will buy the bad debt and they will try to come after you--illegally. IF I were you--I would prepare to sue the lender-mortgage broker for committing fraud. why, of course, we can ask, did you accept their messed up offer? been there, done that!!! ouch time to start over.............
  • You may be on the hook for the 2nd mortgage. You may get a 1099 on both forgiven debts and have to claim it on your taxes as income which may make you end up owing taxes The thing that perplexes me, is that you don't sound like a stupid person..so why on earth I mean WHY on earth..would you accept and sign a paper that has a mortgage payment of $1500 but you only made $1600 a month? You had to know there are other bills you would have to pay besides your house payment right? I just don't understand why you would agree to that and just blindly believe what this company told you. I think you need to take some responsibility for your own ignorance to what goes into buying a house.
  • Would like to find out more about this too
  • Never thought about it too much
  • I represented a buyer who failed to perform on a purchase in Arizona. He signed the contract, we went through 5 extensions for close of escrow. Title was ready, appraisal was completed, lender had wired their funds. The buyer just needed to wire his portion to the title company. Now after three months the buyer says they are unable to come up with the money and do not want to do the deal. Am I entitled to my commission? Or do I just walk away?
  • You have to walk away. He signed the contract but there are all kind of ways that he can get around his commitment--including bankruptcy. The sale was not completed, your commission comes after the property sell is finalized.
  • I don't know that particular company, but if it's what I think it is, that type of business helps you save on interest by paying off your mortgage sooner. Basically, you end up paying a little more each month, and, after the company keeps its cut, they forward the increased amount to your lender. This is something that you can do yourself, without paying a 3rd party to manage the money.
  • If you buy and register the car in Arizona you will pay tax once in AZ as well as AZ registration fees. When you bring the car to CA, you won't be charged tax again, but you will need to pay for CA registration. And CA won't give you a refund on the AZ Registration fees you paid in AZ. You will fill out a form asking if you already paid tax and how much you paid...Form 343-see below Also check that the car conforms to California regulations for emission Most cars do. But some are manufactured only to meet Federal emission standards which are more lenient than California standards. There is an emissions label inside the door and under the hood. If you find a good deal in AZ, buy it. The Tax rate varies from county to county. So you need to do a little research on that. will you be financing or purchasing outright? If the lender is in AZ but you want a CA registration, then the car is a "goldenrod" meaning no CA title will be issued, just CA plates and CA registration.
  • whether that's indexed on E-bay autos and you employ pay-buddy for the transaction look on the high-quality print. it provide help to be attentive to if the transaction is risk-free. If somebody claims that that's a E-bay transaction, whether it quite is not any longer indexed on E-bay then do no longer decide for it. that's a rip-off. Your money will circulate south and not something will circulate north. observe that a variety of of con artists use the declare that that's a E-bay transaction to get your money. Even a real e-bay merchandise can a rip-off. The previous saying - "If it sounds to solid to be genuine, that's" includes suggestions in this one.
  • well it depends on the dmv. but here in texas there would be more things to get on the car if you register in another state. such as inspection sticker and all. if in california you have a inspection sticker then yes it would cost you more to transfer to state. and you get a fee for out of state registration
  • how about the state of florida
  • If your home is in a FEMA-designated 100-year floodplain, federal law requires your lender to require flood insurance. The only ways to "get out of it" are: 1. Pay off your mortgage. 2. Move. 3. Have an Elevation Certificate prepared that shows that your house is elevated sufficiently to be above the 100-year flood elevation, then get a Letter of Map Amendment issued by FEMA.
  • An exhaustive list would be everything that is affected by the earth's climate. That pretty much includes every species living above the deep ocean floor, so start listing. We'll be glad to hear from you when you're done.
  • Who is requiring you to carry flood insurance?
  • The brief details: --Mother passed 5 months ago --Left an underwater property (significant, $220K Value/$295K Mortgage) --The mortgage has been paid out of her remaining bank account, no missed or late payments. --We have had a tenant remain as a continuation of a verbal agreement with my mother (the original lease expired almost a year ago and was never officially renewed). We are still losing money, as her portion only covers half the expense. No other person has stayed there since my mother's death. --Her will left no instructions for its disposal. My father, sister, and I have no interest in keeping the property, as it is more of a liability than an asset. We have taken some time to consider our options and we would like to get rid of the house. I believe we have covered all of our bases to submit a disclaimer of interest, but it's hard to find any information on what exactly happens afterwards. Is it really so simple as saying, "I didn't ask for this, I don't want it" and the bank is supposed to just suck it up? We don't think so, though that seems to be the purpose of this legal option, to not make somebody else's mistake a family heirloom. Has anybody here actually heard of or done this before? It goes without saying that yes, we will be getting a lawyer. Also, any suggestions on the short sale/foreclosure options would be greatly appreciated.
  • Called the lender and tell them the situation. That no one will be making anymore payments and the bank should start foreclosure proceeding immediately. Send them the key. It sounds like your Mom has no assets and that a probate is not needed. Depending on the state, an estate is exempt from probate if the value is under a certain amount....Arizona it is $50,000, California it is $150,000. I would just clean out any personal stuff of your Mom's and tell the bank to take it. Yes......you just walk away. There are no legal consequences that you or any family member faces unless their is another name is also on the loan.
  • some mortgages include life insurance to pay it off 'in case." YOU have an estate, good or bad. Seems as though whatever she owned is now remaining family property. NONE of you are obiigated to take over the property; if so, within 3 yrs of no property taxes being paid, the county will assign their rights to the state but the lender will take control way before then. FYI--within 2-6 yrs, the house value will go back up to its high point and climb from there--so, your task to cover a negative mortgage is not permanent--if you chose to keep it. Maybe you might want to keep it if ways can be found to save the house? remember, while you have no obligation to make the payments, the fed DID freeze payments last year. can guide further
  • If your mother was the only person on the title, her estate will have to be probated. Part of the probate process is to payoff all debts. That will probably involve a short sale, but that can't be done until foreclosure is filed. Since no one else is on the mortgage the lender will not talk to you. However once probate is filed the bank will talk to the executor. realtor.sailor
  • Simple. The estate sells the house and the proceeds pay the mortgage, it's a short sale like any other. The executor of the estate deals with the mortgage holder.
  • i think of sharks are the finest underwater creatures. With their understanding to hint down blood, their swiftness interior the process the water. They defy threat...human beings no their dominance. Shark assaults are random. i might do my learn project on the excellent White...you may watch Jaws and study exciting information of those 30 foot underwater terrors...they are very effective hunters.
  • I did not know that submerged property is real-estate. If that is true, there is an ocean that is waiting to be sold to a high bidder.
  • Forget that. Contact your lender immediately and have the card cancelled. Dispute fraudulent charges and check your credit reports. You should consider putting a freeze on your credit record at each credit bureau.
  • About 12 yrs ago I owned a house in Arizona.I was 18 yrs old, and getting into trouble with the law, so I set it up to rent to a couple and I moved back home to Indiana. My dad was to make sure that they kept up on the house. About 8 mnths later the state found my grandmother here in Indiana and served her with foreclosure papers for me. By the time I recieved this it was to late to do anything about it, so I lost the home in a sheriffs sale. Now yrs later I'm trying to purchase a new house and have to carry PMI insurance again. My lender notified me that because of what happened before I cannot be covered with PMI. How long is this going to haunt me? Am I never able to get this again? What can i possibly do to try and correct this? Please help :( Thanks
  • You simply need to make a normal down payment, then PMI will not be an issue.
  • Yes, a "normal" down payment is 20% and is more than alot of people can afford. What you will need to do is get it removed from your credit report. You will need to contact the credit reporting bureau's and contest the line item. If there is no debt on the previous house the bank cant prove that you still owe on it and it "should" be removed. If that doesnt work maybe you could look for a land contract or rent to own. If it is an investor doing a rent to own they may be able to help you with the down payment - you can email me for details if you like John
  • Foreclosure means that the person who owns the house either is more than 3 months behind on payments, or, have failed to pay their taxes. If the lender has not been paid, they will re-take ownership of the house. The same with the tax collector. As told to you in a previous post, no one knows how long before you have to leave. When the eviction notice is served, you'll have about a week.
  • It’s the unavoidable regulations of grant and demand. I’ll guess incredibly everyone desires they hadn’t slept with the aid of Econ one 0 one. foreclosure have continually befell and could continually take place in a marketplace ecosystem simply by fact all investments carry a mandatory ingredient of possibility. the better the possibility the better the potential reward and vice versa. As sub-top foreclosure pilled up so did the banks REO’s (actual assets owned). This has a 2-pronged consequence. (one million) It drags down the monetary enterprise’s credit worthiness which potential the monetary enterprise now has to pay larger interest on its loans and likewise drags down the marketplace cost of the banks public securities. (2) It additionally placed an abundance of residences on the marketplace in an exceptionally short volume of time. for sure, shoppers dealing with better grant have better decision and would consequently bid down the cost of a house. As living house expenditures decreased it drags down all assets values. people who have been locked into classic mortgages on the previous values nevertheless had to pay off that non-public loan on a house worth drastically much less. Even refinancing is under achieveable simply by fact the fairness foundation fades. Banks dealing with larger expenses then pass away the potential debtors with much less bargaining potential for this reason people who can refi gain this at lots larger costs than have been as quickly as attainable. those are in basic terms a number of the factors which reason a wave of classic very own loan foreclosure yet i think they're the main needed.
  • You stopped making house payments so the lender is taking away your home. That is a foreclosure. As for when you must leave, when the Sheriff knocks on the door and kicks you out.
  • Im 18 and about to graduate highschool in north dakota. Im moving to arizona with my parents in a couple months and will also be going to college out there. Right now im driving a 2003 nissan altima with 170k miles and in great condition. I was planning on selling it for around $3500 and using the money for monthly payments on a leased car. Since im going to ASU i want to lease a nice car and was planning on leasing a dodge charger or challenger. Any idea what the monthly payments would be for either of those cars? Do you think i should lease a car? Also i will be working a part time job In arizona aswell.
  • Lenders require no less than six months of full-time employment history, and a minimum verifiable income of at least $1700-$2000 per month, in addition to sufficient credit/credit history. Not meeting income requirements is going to get you denied automatically. It takes MUCH better credit to lease then it does to purchase. In addition, you need established auto history. You have neither the credit, credit history, nor the income, to lease a Charger or a Challenger. A 36 month / 36,000 mile lease lease on a Dodge Charger ($29,610 MSRP), would give you a payment of $466 per month (52% residual). You will NOT get $3500 for your car, as private value isn't even $2000. If you put that $2000 down, you're at $405. So you know, I figured this at 5% sales tax, with a .00132 money factor. Keep in mind, that's before your full-coverage insurance, which would likely be as much as, if not more than, your car payment, plus gas. You'll be putting well over $1000 towards your car every month. Right now, you don't even have a full-time job. Sorry man, it is NOT going to happen.
  • Not going to happen. A lease is a type of loan. There are several reasons why it won't happen. You're a student. You don't have enough income. You have no credit history. They won't take the fact that you have the money from the sale of your old car.
  • You don't qualify for leasing. Leasing is generally a bad idea for individuals.
  • How can you afford the payments if you're going to school and not working full time? Your $3500 will get you about 1/4 of the way through a lease. And you haven't paid for insurance or gas and oil yet. You can't afford this.
  • You won't be leasing a car with a part time job, unless your parents lease it for you.
  • You don't have a snowballs chance of being approved for a lease. You won't have a job. Your credit history isn't long enough.
  • I suggest you keep your Altima.
  • how long have licece?
  • Most lenders now will remarket their repo collateral using local auction houses and once you find several you can make offers or bids through them. Repo auctions are either sealed bid, while others are absolute (no-reserve) auctions. However, recently banks have been accepting offers and negotiating from there and without much competition. Arizona suprisingly is one of the biggest boat owning states in the U.S. so you should be able to find boat auctions close by... BoatAuctionsDirect.com offers a nifty little resource geared for auctions and repos as well. Pick your state and you 'll get about 100 sources or so. But if you 've got the time you can call your local lenders and see who's remarketing them
  • Check with all of your local Auctioneers. Find out who handles bank repo's for absolute sale. You can check their web sites, or get on their mailing list. I got a flier in the mail, went to the auction and picked up a 20' PathFinder 150 Yamaha 2006 model in mint condition for 17K, new it was in the range of 40k. This was the only thing that really was bid on that day.
  • certified boat sales
  • Sitting in my little mobile home in the desert of Arizona I do not have much chance for first hand information as to the problems in America..... There are some small things I can see from day to day tho.....I am regulated in travel with a motorized wheel chair so I can't go for long distances....For the last number of months I have found I have two barbers in my travel area...Niether one of them understands my language [english] so it is difficult to say the least as to how I want my hair cut....I also have a problem in ordering anything at a fast food place for the same reason....I am also disturbed to no end when I look at a billboard in a different language than mine....And the fact that anything from the government must be printed twice to support the other language....And I do not even wqnt to discuss haveing to press 1 on my phone to speak my language [english] But these are very minor things...But when my country spends 10 million dollars a day on some war and spends 700 billion dollars on some bail out and spends millions of dollars on other things and then I find America is borrowing these monies from other nations,,,this scares me. This tells me we are broke,,we have no more monies....All I know is if I had to run my own house and home like that I would be concidered broke. And if I went to any lender of monies they wouldn't give me the time of day....They certainly wouldn't offer me a place at the dineing table.....
  • I'm sorry, you need to get out more. Move your house; after all, it IS a mobile home. No, america is not broke. But it it in debt.
  • america is broke. it is no longer a good country to be in. if i had the money, i would renounce my citizenship and move to an african country. i can think of 20 other countries that are in much better financial shape than america. pick any country in eruope. there's 12 right there. usa sucks
  • It's called a Promissoy note. Search that term and your state. But it really needs to be notorized anyway, and your local notary will have the simplest form for your situation. Here's a few, but these are all way more than you need for a payback agreement to mom.. Paying back on an installment plan? - http://lawsmart.lawinfo.com/letters/Prom...NY lender example- http://www.achildwaits.org/forms/promiss...Arizona example http://www.promissorynotes.net/SamplePro...General page 1s. http://www.promissory-note-form.com/
  • Just write up an IOU note with the amount borrowed , The amount to be repaid monthly and The % rate per month of the unpaid balance . Sign it in front of a notary and have them stamp it (costs about $10 at the wells fargo here) . Make a copy so you each have it >
  • sit down together to write a contract between your selves. that is what a bank would do. then when you both agree both sign it. your mother is not tough.she wants to teach you self reliance and integrity to learn how to take care of your self once you are on your own. you have a wonderful mother that is truly preparing you for your life.
  • If you and your mom go to her bank and explain they will very probably lend you the money on your mothers guarantee . If you do not then repay the bank they will bill your mother . Because the loans purpose was originally intended for you and the bank will give proof of this your mother could then (if she chose) sue you for the money .
  • A simple one-liner will do. Use this: I (your name) herewith borrowed US$XX (amount) from Mdm. (your mom's name) and agree to repay the borrowed amount by XX (duration of repayment). Dated this letter on MM/DD/YYY. Make sure you both have withnesses when both of you sign the letter.
  • You dont need a contract. The Trust between you an your mom should be enough.
  • no i don't think so, besides trust me mom won't let you forget you owe her money, here's an idea just write it down in a tablet, and every time you pay something write it down it'll make you both more at ease.
  • Why not just draw one up yourself. It doesn't have to be in a language you cant understand without a lawyer. As long as you both know the conditions you should be fine.
  • I don't think you need a contract to borrow money from your mom.
  • you have a tough mom if she makes you sign a contract
  • Returning homes to the bank is a "deed-in-lieu" and spares you SOME of the costs of a foreclosure, but as far as your credit? Every home will show as a foreclosure on your credit, and with that many foreclosures, it will be a minimum of SEVEN years before you'll be able to obtain financing on a home again. When you have multiple foreclosures, that is considered a "multiple life event" in your financial standing..that throws you into a whole different set of underwriting guidelines. For example, if a lender has a policy that it will do a loan if a borrower is 4-years post-foreclosure, if you have TWO foreclosures, they have to wait until ONLY ONE remains on your credit. So the fact that accounts stay on your report for 7 years...that is where the 7 years is coming from.
  • You would be asking for a "deed in lieu of foreclosure" from the bank and that is basically giving the bank authority to sell the property on your behalf. You would need to work this out with your lender to see whether this would be beneficial to you.
  • Returning them to the bank IS foreclosure. Perhaps short sales would work.
  • http://news.yahoo.com/s/ap/20090815/ap_o...WASHINGTON – Regulators on Friday shut down real estate lender Colonial BancGroup Inc. in the biggest U.S. bank failure this year and also closed four banks in Arizona, Nevada and Pennsylvania. The closures boosted to 77 the number of federally insured banks that have failed in 2009. WHY??
  • Only the banks owned by the campaign contributors were bailed out. Google the contributors and you will see this.
  • The big looters like Goldman Sachs got the bail out money. But even they are still carrying massive amounts of bad debt on their books. The fact is, nobody really knows what they did with the money. They simply refused to tell and congress didn't want to hurt their feelings by insisting on answers. America is bankrupt. The banks are insolvent. Manufacturing is in decline. The dollar is toast. The Federal Reserve is running out of money. Jobs are declining. Wages are stagnant. The only thing we do well is kill people in the Middle East. WOO HOO! We're number one.
  • Looking back on how things are going it appears that the entire United States Banking Industry is being divied up between JP Morgan Chase and Goldman Sachs.
  • Poorly run systems and carrying bad assets from the deregulated system that bush had in place. They were just not worth saving but everyone got their money, every one. The banks that got bailouts because they were to big to fail and ruin our entire country are now making a profit and are actually paying back the government. I am sure you did not hear that on fox news though.
  • THEY got bailed out, but they didn't bail out the people with bad mortgage loans. Only 9% of those loans have been dealt with to date. Another failed Obama stimulus bailout plan.
  • Hence why George Bush was a methodist and people are stupid to beleive any branch of government.
  • because the CEOs and CFOs need their bonuses.
  • They are a legitimate lender but if they are the one selected you can get a better rate elsewhere. I have never had them beat other companies pricing. They don't have looser guidlines than others so there is a better source for your loan.
  • First Magnus is a legit company that offers A (fannie/freddie) and Alt-A loans. They were never really a subprime lender. However, the subprime issues have spilled over into these markets, but I doubt you will be affected. So, relax! Let your broker be concerned, after all we don't get paid unless the loan closes. Anyone saying anything different is just hoping you to call them for the loan.
  • The problem isn't a particular company - Its the kind of deal you are getting. And it pays to shop around. You also need to really understand what is being offered to you. As a starting point, compare the APR (Annual Percentage Rate) for the loan, with other loans that are available. The APR is roughly equal to the true average interest rate over the life of the loan, if interest rates in the market stay the same. For example, if you have a first year teaser rate that is low, but an APR that is higher, you are just about guaranteed to have higher payments in future years, even if interest rates in general don't go up. You should also find how your credit is affecting the kinds of loans you are being offered.
  • If you do not feel comfortable with their decision. Ask for more information. Also request Better Business Bureau information on this company. Remember once the deal is closed the mortgage broker is paid and on his way to the next deal. ASK QUESTIONS it is your money and credit at stack here. Don't settle for just anything!!!!
  • I currently live in Arizona. I bought a car through a dealership 10 months ago. I still owe 5,000$ on the car. I just got a job in Texas and am going to be moving there in a couple of months. Today when I told the dealership the owner of the dealership said I would have to pay 1/2 of the loan to move out of the state or else I wasn't taking the car. I have made every payment on time (and most have been early). I have paid a little more than the minimum amount due each time as well. Legally are they allowed to do this since I am current with payment? I understand that me leaving the state makes it harder to repossess should I ever not make payments, but this just doesn't seem right. Thank you in advance for all of your answers! This has been weighing on me.
  • Thanks for the answers so far! You guys are awesome! I will read through my purchase agreement and see what I can find. Last question to tag along with this. Lets say worst case scenario in the purchase agreement it states that I cannot take the car out of state, and the dealership takes the car back. Does that count as a repossession? The only reason I ask is because I'm current with my payment. Thanks again!
  • Read you purchase contract. What did you agree to? Sounds as if you dealt with a fly by night, high interest, rip off place. I suggest that you get a loan from a legitimate lender and pay off the first place then move if you want to.
  • Unless you signed something agreeing to remain in the state until the loan is paid off, they have no right to stop you from taking it. However, these days it's common for purchase agreements to contain such a clause. If yours does, you may be able to negotiate something where you pay off a percentage of the loan early in order to be able to take it out. For your last question, if you do have such a clause, the dealership can't take the car back until you actually remove it from the state and violate the contract. At that point, it would be a repossession. They have the right to repossess if you violate any conditions of the agreement, whether payment-related or otherwise.
  • They can't stop you from moving of course, but they can stop the car from moving out of state. Check your contract carefully or have an attorney review it to make sure. But in general, these "buy here, pay here" places can stop you. EDIT: Basically, if you have to relinquish the vehicle under the contract due to your move, it is a forfeiture and potentially similar to a repossession. However, this can be negotiated with your dealer. Another option is to sell the vehicle outright and even if you have to pay a little to get out from under it, you might be better off. If you are stuck under the contract, see what the penalties are and then see how willing they are to work with you.
  • no, they cannot make you stay in the state and cannot make you pay anything to leave the state but you should recheck your purchase agreement and make sure there is nothing in there about it, they may have put in there something about that although i have never heard of such a thing in a purchase agreement and i have bought a lot of cars in my life from dealerships
  • My mother sold me her car. Its an old 2001 Kia spectra sedan. (worthless in other words--- as per dealers from dealerships,.. I'm not sure about kelley blue book) She has a lien on it though ($1,300 is all)... So what will happen when I go to DMV to have it all ready for my name for me to get the tags and whatnot? What should I bring? Will there be any additional costs? (I already tried searching via my state (Arizona) DMV website, but its not turning up results anywhere near what i'm asking for.... www.azdot.gov)
  • So after being able to finally dig a little deeper (DMV Is closed today) i see that it says the lienholder/lender has to write a letter allowing someone to be added or deleted.... its says "lienholder/lender"... My mother says SHE IS the leinholder... but the lender is GMAC. So with that said, and written like that on the AZ DMV site, does that mean she's able to write that letter then???
  • The lien has to be satisfied before ownership can be transferred. Legally, it wasn't her car to sell.
  • GMAC is the lien holder and the car's owner, not your mother. Your mother holds the car under agreement with GMAC but she doesn't own the car until it is paid off. That's why if GMAC doesn't receive payments for a few months they can, as lien holder, come and take their car. They have the lien on it, it is theirs. You will not have a title to take to the DMV until GMAC releases it, and they won't release the title until they are fully paid. For the car to be in your name, GMAC has to be paid off in full or they may allow you to apply to assume the loan which you will have to qualify for. You and you mother need to talk to GMAC and have them explain this.
  • Your mother is not the lien holder, GMAC holds the lien, she is the registered owner. And it there is a lien on the vehicle, she can not sell or give it away without the lien holders permission, unless she pays off the loan first. Get on the phone to GMAC and they can answer any and all questions for you.
  • you need to pay the lien/then title will be sent to mom and then she can gift it to you at dmv/at least it saves the sales tax
  • What are the steps for a cash sale of a home in Arizona? No don't tell me that the realtor will take care of everything or to Google it. IF you know the answer, please list the steps, along with any cautions. (I've not been 100% convinced the realtor is on top of things.) If you don't know the answer, don't respond.
  • I agree--if people can't answer then don't respond for the points or whatever their motivation is. A cash offer follows many of the steps of the traditional offer with a mortgage. What can be dispensed with are issues like: appraisals--no lender to satisfy mortgages--so won't fall through in escrow if the person really has the purchase price escrow moves more quickly if desired by the parties--don't need a month or more to jump through hoops. Probably can be wrapped up in a week or two--depends on issues like any contingencies, if a home inspection is part of the deal, etc. Both buyer and seller, unless they're experienced or in the business, might want to consider having someone in the business (real estate agent or real estate attorney) review the documents to be sure there are no "surprises" coming from the transaction. The escrow people will have their list of required and optional documents and they will do what they need to do, but they can't and won't offer legal advice. Hope that helps.
  • What are you trying to catch? Nobody is going to waste their time detailing every step. However, if you think there might be something they missed, just ask here.
  • John T. Reed's analysis of Dolf DeRoos' book Real Estate RichesReal Estate Riches, a book by Dolf de Roos, is on the business ... get you to buy multi-thousand-dollar “mentoring” or other expensive products or services. ... www.johntreed.com/DeRoos.html John T. Reed's view of various real estate investment gurusClick here for a review of De Roos’ book Real Estate Riches. ... Kaiser is also one of the many gurus who offers an expensive mentoring service. ... www.johntreed.com/Reedgururating.html RealEstateInvestment101: Real Estate Courses, Opinion ofKaiser is also one of the many gurus who offers an expensive mentoring service. ... Trump University real estate programs --- I do not recommend ... realestateinvestment101.blogspot.com/2... Rip Off Report:Primerica Financial Services - Research of its ...Like real estate, Primerica is not easy. For some people, this is a total ... because the person who ripped me off was my mentor, almost like my mother. ... www.ripoffreport.com/view.asp?id=10157 John Alexander's 14 Days To Real Estate Riches - Mentoring Of America ripoff fraudulent marketing practices lies about no financial risk on my part Provo Utah *UPDATE ..mentoring of america, utah-got $9700 refund Seminar Programs: John Alexander's 14 Days To Real Estate Riches - Mentoring Of America Utah Author: Le Center, Minnesota 2. 10/23/2006 9:27:31 PM John Alexander Real Estate Riches ripoff, John Alexander, Real estate riches Van Nuys California *Consumer Suggestion ..Cancel your CC Seminar Programs: John Alexander Real Estate Riches California Author: tucson, Arizona 3. 8/17/2006 6:59:28 AM Carleton Sheets Real Estate Riches through Illegal Flipping of Properties Oak Brook Illinois *Consumer Comment ..your deals are done as cash involving no traditional mortgage lender http://www.ripoffreport.com/results.asp?...
  • Yes Real Estate Riches Philadelphia a good program. Philadelphia has long been known as the “City of Brotherly Love”, and while that nickname is derived from the literal meaning of the city’s name in Greek, it is most certainly an accurate description of the warmth, passion and pride that this city and its residents exude. Philadelphia is by-and-large a city of neighborhoods, and Philadelphians are among the most neighborly you’ll find anywhere. For details as following link .... Visit and enjoy...
  • Not sure! But.... Every area is different. In So. CA, the market hit it's top in the Summer of '05 and is still going down! Many neighborhoods are already down 15%+! Consider that the average sales price in San Diego is appx. $570,000 and you get an average LOSS in value of $85,500 in just about 18Mos!! The BIG question is will the dropping real estate markets in CA , Vegas, Boston Wash D.C. Fla, N.J., etc. spread to most of the US? For a real 'insiders' view on this, I would suggest a real eye opener read at: http://www.brokerforyou.com/brokerforyouhttp://www.brokerforyou.com
  • Real Estate Riches! You know the one with the obnoxious loud mouth radio ads all the time? Turns out a bunch of former "students" have filed an Attorney General complaint against their "mentors", what a surprise! Here's the link to the CBS news story:
  • yes philadelphia is a good program.
  • yes
  • You can't blame McCain...He was against it "McCain, railed in an editorial that “if elected, I’ll continue my crusade for the right reform of the institutions: making them go away. I will get real regulation that limits their ability to borrow, shrinks their size until they are no longer a threat to our economy, and privatizes and eliminates their links to the government.” McCain attributed the growth of the agencies to “crony capitalism,” and Washington selling out to Wall Street." BUT...Now both Obama AND McCain have said that there's absolutely no way to avoid this...That if the government didn't take control in this situation, the housing industry would collapse, because these entities are so damned big...McCain has vowed that he won't allow mortgage lenders to build that type of powerful hold anymore, so that this sort of thing doesn't happen again. "Arizona Senator McCain has decried using taxpayer funds to shore up Fannie Mae and Freddie Mac, though, like Obama, he says they can't be allowed to fail."
  • Unfortunately they should have slapped down the execs at Fannie and Freddy long ago before this mess started. Now we are in a BAD situation because people bought more than they could afford (which pisses me off), and those execs laughed all the way to the bank. They should all be locked up. Now our economy is a mess because the current president was too busy playing war to pay attention to the economy. I agree - on many levels it sucks to bail them out... but one way or another this fiasco is hurting all of us.
  • Americans are not too stupid to understand their own ideology - it is not a difficult concept. Your question deals directly with what happens when you have a Democratic congress... since congress, not the President, is responsible for these idiotic financial blunders (perhaps a look at the document entitled "The Constitution of the United States" would good for you?) The American people, in their blinded search for "change", have freely elected individuals who espouse very liberal ideas on the role of government. They would have us believe that it is the government's job to bail out those who mismanage their personal finances. In a truly conservative government (which we have not had in many years), this blatant misuse of funds would not be tolerated.
  • Again, the American people will be paying for a failed Democrat program, The Bush Admin has no choice but to stabilize it, unless the next Generation wants to go back to 18% interest rates like I had when I was first buying in the Carter years
  • no, it is mostly just the government school educated, and those who just chose not to pay attention. Government should be trying help those companies, since it was government that got them into the problem in the first place. If this was a true Capitalist society, we likely wouldn't be in this mess in the first place.
  • People are idiots. This cant be entirely blamed on Bush. Congress is a majority of Dems
  • Most understand. Unfortunately, many in our society would rather have someone take care of them than do anything for themselves. The slaves sometimes grow to love their chains so much they forget they're slaves.
  • Well, it's for the better of everyone of us. We can't be so 'hard-line' capitalists to the point of fault. Now, that would be just stoopid.
  • May America handle its own affairs...Do you mind !!!.... Besides, capitalism is not so great, it creates a dog eat dog society....
  • Not all of them , but those who their fanaticism cover their thinking YES
  • Respondent testifies that she is the sole person responsible for the foreclosure of the residential property located at (address). We signed an official court agreement on November 20, 2006, which stated that we were in agreement to sell the property. In the state of Arizona this document is considered to be binding Pursuant to Rule 69 of the Arizona Rules of Family Law Procedures. Respondent did not act upon the order to sell. Respondent moved back into the residence on December 1, 2006, hoping to pull it out of Foreclosure. Petitioner tried to list the property and making appointments for the residence to be shown to potential buyers. Respondent declined to show the property or to sell it as the court had ordered. Respondent is responsible for the foreclosure of the property; Petitioner. did everything in his power to get this residence sold. However, Respondent did not cooperate in a way which allowed for the property to be sold. Petitioner is hereby formally relieved of any
  • it doesn't matter what you write in the divorce; the mortgage company doesn't give a rats a@S about that, all they care about is that you both signed the note..............
  • Most mortgage companies do not recognize quit claim deeds or other divorce documents. If your name is on the mortgage note, than you are fully responsible for the foreclosure. Most attorneys that handle divorces do not understand that this is in the terms and condition of the original note and mortgage documents. Call your mortgage company to make sure that they will not hold you responsible.
  • Hi, I used "Credit Solution" to settle my debt and avoid foreclosure.They managed to reduce my debt up to 58% .It's legitimate.I came across this company on NBC News Special Edition.Check it out here: http://d6b0.easyurl.net
  • Creditors will not care who took responsibility if your name was on the mortgage it will show negatively on your credit report.
  • Go back to your attorney - let him handle this so it will be done properly and nothing will ever come back up on this.
  • I live in Arizona, and thanks to a lousy economy, my house is worth $50,000 more than what I owe on it. I want to move to take another job (plus family lives there), but I feel grounded to my house. I read an article today that home values will go down another 10% by year-end 2009, so the longer I wait, the further down my house goes. If I move, my credit could get hammered, but if I stay I'm unhappy. How can I resolve this with my bank?
  • You would have to do a short sale to sell the property most likely, but they are not easy or a sure thing. We have two short sales out of 15+ listings. One has received a low-ball offer that no bank would consider accepting, and the other got one good offer in three months and the bank took six weeks to reply and the two lenders still couldn't come to terms with what they would accept. They were still bickering by the time the buyer found another house to buy. A short sale can be on the market for months and months and you may need to show financial hardship (ie., loss of job) to qualify. Consider renting your house out if that is a financial option. If you can get 80% of your mortgage covered by rent it is better than paying it all while you're not living there.
  • There is no way to tell if homes will stay the same, go down, or go up. Sad to say, you the amount which you borrowed. Your chances of a short sale are not good if your financial situation allows you to make the payments. Of course, if you elect foreclosure, your credit certainly will be hammered, and badly. It's not a pretty situation, in the least, But do remember that it is not the bank's problem that your property values decreased. That's your problem. You could try to rent the house until property values rebound. You might consider hiring a property manager to look after it when you leave. Even if you have to 'feed the mortgage' a given amount monthly, that's a better alternative than taking that credit hit.
  • call the bank and explain your concerns, and ask if they will accept a short sale if you market it. Tell them you are going to have to relocate, and do not have the money to make up the difference between what it will sell for and what you owe. (I assume that is true). A lot of banks would rather have a short sale than do a foreclosure. Good luck.
  • Short sale - sell the home for what you can get out of it & get the bank to accept the offer.
  • First and most important, stay in touch with the bank. They don't want your house and they will work with you if you will work with them.
  • Misdirected anger and thwarted expectations. They're mad because their life isn't like the people on television, and it isn't their fault or the fault of anyone in power. It must be women! It's not really a bizarre or new phenomenon. Check out what's happening in Arizona right now. Nobody has the money to stay in their house, and unemployment is up. Whose fault is it? The banks, the government, predatory lenders, lack of government oversight, the super-rich? Heck no! It's the fault of those dang Mexicans! Like I said before, "sh*t flows downhill". The sh*t is blame, and it always gets dumped on those that have the least power to refute the charges or change the way things are. The poor, minorities, the elderly, children, non-Christians, and women. Take any political issue, and I guarentee that someone has found a reason to blame people below them instead of above them.
  • The utter futility of fruitless relations with women tends to drive some men to the logical conclusion that the sex, or lack thereof, does not sufficiently justify the amount time, effort, and resources necessary in dealing with women. How much bullsh*t are you willing to put with to sustain the possibility of sexual intercourse?
  • may be man use this sites to recognize men haters.
  • Personally I enjoy pushing obese man-hating broads around and ruffling their feathers.
  • Hypocrite much?
  • I don't know...must be fun to troll, I guess?
  • they wish they were women
  • what are you talking about you facist
  • All of America's problems have a common label -- "Made in Washington". If you disagree, provide reasons or get thumbs down. If you agree, add more examples. Here's why: Energy. America's biggest energy problem is that we haven't expanded production significantly in over 25 years. Zero nuclear power plants built while electricity demand increases means we burn more and more fossil fuels. Few new areas to drill for oil and gas mean that we import more and more oil and gas at ever higher prices with ever increasing payments deficits. Ethanol in cars. This is vote pandering to Iowa farmers, pure and simple. everyone in every city is paying through the grocery store for corn, wheat, and soy in the form of meat, fish, chicken, bread, and sweeteners -- commodity prices have doubled or more since this nonsense began. Military. The Army is shorthanded, as is the Navy and Air Force. Bill Clinton cut them 25% or more so he could spend the budget elsewhere. Now we're paying for it.
  • Inflation is up. gas, fuel, electricity, and food are all up. Reasons? see above. Housing. Government pressured lenders to actively lend to minorities and the poor. guess what -- they were underserved because their credit wasn't good to begin with and they had no experience buying housing because no one in their family had ever done it. banks did a lot and, surprise??!!, sharks rushed in to take advantage of newbie buyers with no understanding of the reality. Jobs. energy production jobs are heavy work that can't be exported. But we haven't been doing much energy production have we? so those jobs all went to places like Venezuela and Saudi. Immigration. amazingly, when employers have to positively ID job applicants, illegal immigrants go home. It is happening now in Arizona. Health. Murder and drunk driving are why we aren't the world's longest lived, not poor health care. Liars!! Global warming. Hoax. Ask NASA about warming on Mars. Same time & percentage. D'oh!!
  • No, a lot of them are generated on Wall Street, where the people who OWN those who work in Washington (Including Bush AND Clinton) are.
  • you are so right washington creates a problem then comes up with a expensive answer that never works! And all the problems are so complicated! BS Social Security problem take it back to the original program and cut spending in all areas! To solve must of the problems i washington they have to quite spending,but than they would lose their power!
  • Think most all problems start in corp. offices and get govt. blessings before they become problems, further if our @ss hole pres. had not stated an unnecessary war in Iraq we would not only have no problem with our military, if we have a problem, but wouldn't be going bankrupt over it as we are now.
  • most of them anyway.
  • I'm glad. These credit bureaus before were basically untouchable, faceless, powerful organizations. If you were on the wrong side of their "computer alogrithms" your life could be destroyed. The Consumer Financial Protection bureau is on our side now. Jul 16 2012 "WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) adopted a rule today to begin supervising larger consumer reporting agencies, which include what are popularly called credit bureaus or credit reporting companies. This is the first time these companies will be supervised at the federal level. “Credit reporting is at the heart of our lending systems and enables many of us to get credit, afford a home, or get an education,” said CFPB Director Richard Cordray who will be speaking at a field hearing on Monday in Detroit. “Supervising this market will help ensure that it works properly for consumers, lenders, and the wider economy. There is much at stake in making sure it is both fair and effective.” The nightmare of the "Big 3" shadowy, faceless, credit bureaus, is coming to an end
  • Spin, you don't fully understand what has been going on. Background checks are all done now through the credit bureaus. Credit checks are as well. The Credit bureaus have mixed up people's information, thus ruining their lives through no fault of their own. Experian was sued for 1.8 million dollars 9 months ago because the credit bureau thought Judy Miller of Arizona was Judy Miller that lived in another state. She couldn't take out a loan to help her diabled brothers for years. Not to mention, to get a job these days almost every employer does a background check. What is they are looking at the wrong information? You are naïve if you think this is only about paying bills. It's about the huge entities that control every aspect of your life having your information correct
  • ...says the man who worships a rag that has been proven to be a hoax.
  • I think this news is fantastic. The sooner the credit bureaus have the same scrutiny in Australia the better. People can be listed incorrectly then not be relieved of the negative listing for seven years. After that you start out afresh, yet many people should have had a continuous positive report for all that time. The devious credit bureaus currently have way too much power and will not correct any errors they make. Some companies falsely report people who will not pay even if the so called debtor has a valid case, yet it costs too much in lawyer and court fees for the debtor to clear their name. Something needs to be done about this oligarchy.
  • I haven't really looked into this matter much, as I don't use or care about credit. But from what I understand, the credit agencies rate you based on how much money they predict they will be able to make off you, and not really based on how perfect you are about paying your cards off every month. The more you understand about their thinking, the better off a consumer of credit will be. I also have heard that bill collection agencies regularly break the law, so it is good if the government is going to punish them. Of course, if people would pay their bills, they wouldn't have to worry about that. One big issue is identity theft. If someone can prove their identity was stolen, then the banks and credit agencies need to do their best to co-operate with the victim so the victim can have their old life back.
  • I'm happy about it. The government is supposed to be a way to give everyday people power over this country. I much rather all the power lie with the majority than with the 1%. That's not exactly how government works today but maybe it would be if people put emphasis on fixing government, eliminating corruption, and making it transparent, instead of trying to limit it and strip it of power.
  • Nope, this is not even remotely a religious question. As a business question, the CFPB has not said what they plan to 'supervise'so whether it will. Make. Any difference to anyone's life is unknown
  • The corrupt watchdog. And your glad?
  • As our Fireball would say, TIRH. :)
  • You need to talk to a real estate attorney before you do this. Foreclosure laws vary from state to state. In some states, the lender can sue for and receive a deficiency judgment. The law in Arizona is confusing on this point - in some cases, deficiency judgments are allowed, in some they aren't. http://www.keytlaw.com/azrealestate/fore...
  • For a class I'm taking this semester I have to question someone with a real estate based career. I would go out, but I'm sick. Any help is appreciated. The question is "Who do you blame for the economic crisis?" This question needs to be answered in the following survey questions. First, rank these in order of who had the most impact on the financial downfall of our economy (u.s) -government -consumers -Realtors -lenders -wall street -secondary market Why did you put what you did first? why did you put what you did last? For example, if you put government first, why? if you put consumers last, why? Second question, what is your solution to the economic crisis? Third question, How long do you think it will take to recover? That's all! If you could include your age and occupation that would be awesome. Thank you!
  • 1. US Government 2. Lenders 3. Consumers Noncontenders: realtors, wall street and secondary market (what is a secondary market)? - I believe the government should have some control over mortgage rates. Yes it's a democracy with a "free reign" on its banking system but they should still have some sort of monitoring in place to ensure that people who shouldn't be qualified are not. - I don't see how realtors or Wall Street have anything to do with the crisis. Yes Wall Street had its issues with too much money and overpaying and giving bonuses left and right, but the major issue was the housing crash caused by lenders/banks. - The solution is to have more government intervention. Yes I know Republicans and Libertarians hate that but look at places like Canada where the housing crisis of 2008 never occurred. Why? The Bank of Canada monitors the banks and keeps them in line. Foreclosures and short sales aren't found very often in Canada. That's something to consider. - Recovery is localized. New York and Bellevue, WA are rebounding very nicely. Other places like Las Vegas and Arizona and Florida will take probably 5-15 years to recover and I don't mean to the prices of 2008, but earlier.
  • My dad is losing his house in a divorce. I managed to buy his ex-wife out of the deed and got her name off to put my name and my dad's on there. SO now the house belongs to me and my dad. Does this mean I have to pay property taxes? Does this mean I just bought a mortgage with him? The house is paid off though. I just want the house when my dad passes....Still renting so I have no idea what I've done. Just didnt' want to lose this house. I was raised in. Help!!
  • If she deeded the property out of her name and created a deed showing that her 50% (or whatever it was) interest is vested in you you are an undivided interest owner in the legal title of the property with your dad as the other undivided interest owner. Property taxes are billed usually in halfs and the taxes owed are paid in arrears so this year you will be paying taxes for last year. The State/County doesn't care where the money comes from but they will only send the bill to the registered owner/s so make sure the property is assessed in both your names with the agreed upon mailing address so that the county knows where to send the bill, and talk it over with your dad as to who will pay, how and how much. If the house is paid off there should be no mortgage and to be able to take out any type of equity in the future and create a promissory note and mortgage both you and your dad will need to sign the instruments with the lender. If you live in any of the following states you might want to grant to each other a Transfer on Death Deed giving the property upon your death to the surviving partner. Transfer on Death Deeds states Arizona, Arkansas, Colorado, Florida, Kansas, Missouri, Nevada, New Mexico, Ohio, Wisconsin If you can not afford an attorney to review the transfer to you I would recommend you take the instrument used to convey to you the interest to a local Title Company and ask them if it was properly done. Best of luck to you
  • If the house is paid off, then there is no mortgage. You and your father are equally liable for property taxes. When your father passes, the house will automatically go to you because your name is on the deed...you are a half-owner, so it is not an inheritance.
  • If the house is paid off, then there is no mortgage. Someone has to pay taxes, either you or your dad... you being on there wont increase or double the tax,,, but the tax has to be paid.
  • What state is the property in? If the property is in one of these non-recourse mortgage states they can't financially touch you. But they can, and will wreck your credit. Alaska Arizona California Connecticut Florida Idaho Minnesota North Carolina North Dakota Texas Utah Washington Most lenders are not going after deficiency judgments, even in states where they can, due to foreclosure because the foreclosed on parties have no money. But if they think you have money and can pay they will come after you. Should they contact you don't give them any information. Just tell them you have no job, no money, no assets, and a mountain of debt and that you are just getting ready to declare bankruptcy.
  • Do you know if she is making the mortgage payment? If you bought the house while you were together, it most likely is in both your names. Where are the purchase papers and the deed? No mortgage company will allow a mortgage to go 3 years into fault without starting foreclosure. How much down payment/equity do you have in it? If you" just let it go" it will destroy your credit rating. It could prevent you from ever being approved for another mortgage. People like to give advice even when they have no knowledge. Is your ex keeping up with the utility bills? Are you actually divorced? Whose name/names are on the mortgage?Are there any co-signers? These are just a few items you need to get settled.
  • nicely perhaps in case you concept-approximately your spouse such as you undertaking approximately what you have have been given then your marriage might have survived. Your in company and you do no longer think of that your spouse's in tilled to a million/2 .Sorry to burst your bubble yet she is. you won't be able to tell her to flow from the residing house until you start up a divorce complaints. then you definately could paintings out what you the two settle for then you definately sell and divide. perhaps you should paintings out which you keep the corporate and your spouse retains the residing house. seek for criminal suggestion. in the experience that your spouse has executed you no incorrect then cope together with her right.
  • YOu cannot have it both ways. House is in my name only She is on the deed. Makes no sense. If you mean the mortgage is in your name only, your credit is already trashed and you may as well let it go. The bank can certainly come after you for years down the road for any deficiency.
  • If she is on the deed- then she also owns the house. No one can force Wells Fargo to ever take it back or to hurry and take it back. When they do take it back I bet they will attempt to go against you for any back payments, late fees and shortages. But you may have a defense that they may have harmed themselves because they delayed. When it comes to that you probably want to hire an attorney.
  • If she's on the deed, then the home is in her name. The deed shows ownership.
  • Hi all, I'm in my 40's, single and have huge real estate debts (a primary home and rental property) that are both way underwater in Oregon and I'm about to be laidoff. I'm sure the lender will likely come after me with a deficiency judgement if I stop paying and they eventually foreclose. I have a 2nd rental home that I own free and clear and I'm seriously thinking of selling it ASAP (someone will get a bargain) to get the cash before I'm laidoff and just to lay low for a few years (off the grid, etc) and establish residency in another state. My question is, with my situation/background and with all the various exemptions each state allows, what state would be best to reappear in when the creditors start coming after me? I've heard that Texas is best but I like the rockies better, i.e. New Mexico, Arizona, Colorado, Wyoming, Montana, and Idaho.
  • If you own your primary residence in the states of Texas or Florida, no creditor can take it away from you under any circumstances. As far as any other meaningful exemptions go, there's little difference between the states.
  • I do not think that it matters. They will file the lawsuit now, or soon after you disappear, and will do so in Oregon. If you disappear and do not show up to court in Oregon, they will probably win the lawsuit. By the time that you reappear, they will already have a judgment from Oregon, and be able to go after you with it, anywhere.
  • they can themselves or sell off the outstanding balance to a collection agency who might seek court judgment. Some will just report the shortfall to the irs and absorb the loss but you have to pay income tax on what they absorb. Here in florida most all lenders seek a judgment because they can sit on it for 20 years collecting interest with an option to renew for another 20 years. In the 40 year time span I am sure the debtor will own or find something of value they can attach and collect the judgment. Nothing is worse than when your checks start bouncing and you find out they cleaned out your checking account when you least expect it. California is the only state that has the forgiven rule but it has many loopholes.
  • not if you had home insurance which may cover it or if they sell it and re-coop all the monies that way ...but if not they usually come after you for the shortfall.....sorry
  • I'm a 21 year old male. No car, no job. I've been looking for a job for six months, and can't seem to find one. Let me give you a brief history of myself. Graduated high school when I was 18. Started attending the University of Arizona in 2008 after highschool. I attended for three semesters, and decided it wasn't the right fit for me at the time. At the beginning of 2010, I shipped out for basic training in the USAF. They don't like it when you sleepwalk, so six weeks later, I was sent back home. I tried finding a job for a couple weeks, but couldn't, so I decided to try another school. In April 2010, I moved to the Phoenix area, and in May, I started school at the Le Cordon Bleu college in Scottsdale. I was attending to get my associates degree. From May 2010 through June 2011, things went relatively smooth. Then July came around, and I had finished the academic portion of my program, and was supposed to start the externship portion. I was unable to find an externship location then, and have still been unable to find an externship to this point. A few months ago, I also started applying for any job that I thought I'd have a chance of being hired for, in addition to continuing my search for an externship position. To this day, I have still found no job, and I'm really ashamed of myself. To make matters worse, since I've been out of school for six months, my loan lender is about to start collecting on a debt that I have no way to pay. I just really need a fresh perspective on the situation. Any advice would be greatly appreciated. I would especially like peoples' thoughts on whether I should continue looking for an externship job, just forget about the externship and find any job, or completely write off the past year and a half of my life and try to go back to the state university on pell grant money. Thanks for your thoughts. Sorry if I'm kind of scatter brained, I'm just confused about the whole thing.
  • i was sort of in the same boat. i'll spare you my life story and tell you what i did. it took 10months to find a job, i didn't have a car either with my first 4 pay checks (got paid weekly) i paid off my bills. With the last $40 in my account i spent it all on a college application. got accepted, and i couldn't be happier. I'm now at a university, doing AFROTC next semester. i got the pell grant, and map grant, had to take out loans this semester federal loans, but this is the only semester i have to take out. the rest of college will be covered by AFROTC. This was the best decision i've ever made, besides proposing to my fiance :) The last couple years sucked bawls it's finally getting better
  • "Young adults who were in their early teens when the recession hit in 2008 are now very distrustful of financial institutions, with 75% saying the stock market is "rigged," according to a June survey from the University of Arizona's Take Charge America Institute. That kind of fear without experience could create a generation less willing to invest or save, warned researchers. It already has, in slightly older generations :A new study from Betterment.com found that investors age 35 and younger were 33% more likely than other age groups to shift from stocks into less-risky bonds during market volatility" http://www.smartmoney.com/plan/banking/t...I'm glad that people of my generation as largely enlightened to the legalized robbery and con-artistry the banks, lenders, and Wall Street fat-cats use against us. Stocks are so 1980s, so passe, shall we say. My employer is now offering a 401K policy. I totally declined it. It's not like it'll have any value in 50 years anyway.
  • 'nancy' - I like your attitude very much. The 'enlightenment' of so many(and growing) young people who are aware of the nonsense in the 'rigged' markets is a great thing. The idea of 'get rich quick' is that of 'snake oil salesmen'. That idea goes back a LONG way to the 'carpetbaggers' after the Civil War who came from the North and went out west as that scenario started to boom with the railroad. They did it in the South too and they were charlatans to the nth degree. That is IMHO an early form of the 'conservative' way of thinking - anything for a 'fast buck' and dishonesty and outright lies attached to it by the carload !! I would advise you to purchase your own 'fixed' CDs, which have at this time low rates, but the interest income should compound over the years even as you add to your portfolio and the money is protected by the FDIC. Here in Canada we have RRSPs - registered retirement savings plans which are much the same. My wife is now collecting from hers from an RRIF - Registered Retirement Income Fund created from the RRSPs purchased over many years and the interest has NEVER been touched, OR taxed one penny and I'm talking decades here !! She received a tax deduction for every purchase of the RRSPs to the fullextent of her tax bracket when she worked. Now she pays a fraction of the taxes back to the gv't, that she actually got back, by far. I can only assume CDs inside a retirement investment plan would be the same in the USA and the interest income would be safe from taxes until they are actually used for income in retirement. You can do the same and as rates rise, eventually and you roll over your personal CDs, they can earn more money once they mature and you can renew them. A 401K, IMHO is NOT the thing for a person who is going to work for many years to come and the resultant value and income from it cannot be determined ahead of time. Ones personal money can be determined, year after year with NO chance of loss whatsoever. MOST people cannot afford risk and right now accept the low interest rates as eventually they WILL increase. You will be no worse off than anyone else who does it now.
  • Nobody every said the stock market is a good place to invest. It's one of the most riskiest and unsafest place to invest. That's always been the case. We can ony hope that young people of today can learn the lesson that you can't live your life based on faith in "hope and change." You need to learn to see how things are and deal with it. I think Generation Z (the people who are in elementary and middle school right now) is gonna be the generation that will be a lot more conservative with their money. Live within your means. That's the only solution to our problems. That's the only thing that can be done. Government can only give you welfare checks and there are more people on welfare now then ever. Government can't make or create private sector jobs. The only government can do is let the corporate world do what it does and only a limited amount of people can be employed at any given time. It's always been that way.
  • Of course our youth doesn't know anything about finance, look who is teaching them? And not investing into your own future is only setting yourself up for failure. You don't need to invest into the stock market. Gold coins is the best investment you can make right now.
  • I am new to monitoring my credit and am trying to repair it. I have a few questions if anyone can help. Thank you 1.How long negative accounts can be on your account (Arizona) and from what starting date. 2.What do you do with agencies that fail to verify your debt but still contact you to pay? 3.What do you do if the credit bureau won’t take something off of your credit that the lender has failed to verify to you? 4.What do I do with Charge off/Closed accounts? There is nobody to pay so is the account just on there until it ages off?
  • 1. The reporting period for negatives on your credit report go by federal law (FCRA) and not state statutes of limitations. I don't know what type of debt you are dealing with so in general the negatives can report for 7 1/2 years and the starting date is from the first time you became late and never brought the account current before it was charged off. You can try to dispute the account as obsolete at the 7 year mark. 2. If you requested validation in writing within the first 30 days from the first contact from the collection agency, original creditors do not have to validate, then they would be in violation if they continued collecting before validating the debt, that includes verifying a dispute made by you to the credit bureaus (CRA's), 3. If you requested validation, in writing, from the collector within the first 30 days from their first contact to you and any disputed inaccurate information they are reporting is verified with the CRA's, then you should first inform the collector that they are in violation and to remove it, if that doesn't work then you could sue them for the violation (plus damages if there are any). 4. If the charge off is being reported inaccurately then you can try to dispute it off.
  • Either pay off your debt or wait 5-7 years to expect a clean report. In the process, do not acquire anymore debt unless you want to start the cycle over.
  • buildcredit.ifastnet.com - try this site. I use it to monitor my credit and also cleaned off some bad items from my credit report. You can apply for free initial plan and get your scores and reports for free.
  • Go to the courthouse in you local community and ask to look at the "Lis Pendes" files. Every lender in the country MUST file a lawsuit against the owner of real property to start the foreclosure process. There is most likely a local newspaper that advertises these properties. In Arizona it's the "RECORD REPORTER" Hope this helps Terry S. http://www.Welcome2Arizona.com
  • Contact the agent that pops up right above the listings. Their services cost you nothing! They get paid by the bank.
  • My and my wife are going to be moving again around the end of April of 2013. I got out of the military in March of 2012 and currently attending school. Were trying to move back to the south east preferably in North or South Carolina. We only have about 10 thousand saved up at the moment. When should I start talking to an agent and looking for a house? I dont know how long the house buying process takes. All i know is what to look for because I used to build houses for a living. Were more then likely going to use a VA loan since we only have 10k saved up. From what I have heard most people need at least 30k to put down on a house. Any information would really help. We both want to have a house thats not really close to neighbors we would prefer a little bit of land would a regular agent be able to do this? As you can tell I dont really know a whole lot about this. Oh and we are currently in Phoenix Arizona I know that has something to do with it saying most lenders wont give you a loan for a home in another state.
  • One thing that bothers me. You need 2 years worth of solid employment to qualify for any mortgage. With tax return to back up the steady income. You are going to move to a new state without a job lined up? Then, I suggest you rent for a while until you find a job. Jobs are not easy to find.
  • Advice from Karen is correct. Rent a home there. Get a job that will be able to pay a mortgage. Don't spend your savings. Get pre approval from the VA. that will tell you what you can afford. When you are ready, start talking to an agent about 3 months or more before you want to move.
  • We have money saved for the 3.5% plus extra, but now the selling bank may not allow an extension for us to get our FHA approval done in time which would probably have to be in 3 weeks. We waited 4 months for the approval of our offer on this house and I'm worried about getting an appraisal done and the selling bank say no way to kicking back closing costs. ugh, I just want to be in this house.
  • I recently bought a new home using a VA loan. I went to LendingTree.com had five banks competing for my loan 24 hours later. I chose BankMortgage Solutions, LLC. Call Rebecca and tell her Jay H. from Arizona referred you. Let me know if this helps. Rebecca Jay Senior Loan Consultant BankMortgage Solutions, LLC 14425 College Blvd. Suite 100 Lenexa , KS 66215 Toll Free: 866-603-3208 ex 1960 Office: 913-754-1960 Fax: 913-754-1961 E-mail rebeccaj@bankmortgagesolutions.com Equal Housing Lender
  • Make sure you have more money in the bank than you think you need! We are going through the same process and our first loan agent (who was an idiot) told us all we needed was 3.5% down and everything would be fine. Luckily the house we were trying to buy didn't work out because of appraisal issues. We then found out she was full of it. There was really no way we would have been approved at that time. We have now chosen to buy a new home and have it built for us. There is a lot more needed than we thought. Because our score was not perfect we have to have 3 months worth the mortgage payments saved in the bank which is roughly $4,300.00. The builder is paying 2% toward closing costs. WIth all of the fees, closing costs etc our out of pocket cost not including the $4300 in the bank we are going to have to pay roughly $12,000.00. That is a lot more than we thought but we are getting a home and it is worth it. Just try to relax and remember if it was meant to be then it will happen. SAVE SAVE SAVE your money! Good luck hun
  • Closing costs should be closer to $3000 then $10,000, that's for sure. Having closing costs equivalent to 13% of the total price is unreasonable. It's closer to 3-5% of the total price. To answer your question, as long as your credit score is above 620 and the house meets the FHA inspection, you shouldn't have a problem.
  • If your offer included the provision that the selling bank pays closing costs, they have approved same. I assume you have the accepted offer in writing, signed by an authorized bank representative. (If it is only a verbal approval, you don't have a legal accepted offer.) Your real estate agent needs to be working with the listing agent to keep the selling bank regularly apprised of your progress. The more contact involved, the more apt the selling bank is to continue to work with you. Good luck.
  • Check the FHA qualifying as well as ratios in the following link. The required credit score is now 620 instead of 580. http://www.fha-home-loans.com/loan_quali...If you you fit into the qualifying guidelines and ratios and you have a 3.5% down payment (cannot be borrowed) plus about $3,000 closing costs, you will likely not have any problems.
  • Person was wrong about the 3000. closing costs could be upwards of 8 percent total down. 3.5 percent plus closing fees and depending on the time of closing all your pre pays such as taxes, and a year of your mortgage insurance and dont forget the PMI fees. Son purchasesd a house 128,000 and even with the min. down his closing the money he needed for closing was close to 10,000 .
  • I bear in ideas that terrible fiasco with the farmers and that i figured the economic employer bail-out could ensue. Now, what can we because of the fact the final American do approximately it? locate out how your congress people voted, in the event that they voted for this misbegotten plan, tell them you will paintings tirelessly to have them voted out of workplace the subsequent time they're up for election. Use the capability of the internet, digital mail those slobs well-known! think of approximately it, we are able to do this ingredient. there are extra people than there are of them, plus, we because of the fact the yankee people pay their wages! permit's fireplace the jerks!
  • Please don't be an "enrollment counselor" i.e. salesperson at the University of Phoenix. Do you really want to scam people out their money for a living? For profit institutions are nothing but corrupt. Their business model is designed to get people to take out loans from either the government or private lenders and then these students graduate with a worthless degree. Because the degree is worthless their graduates wont be able to obtain decent employment and will default on their loans. Then the lenders go bankrupt and we end up in a second financial crisis just like when banks over zealously lent to home buyers and the government had to bail them out. I think our economy is already far enough down the crapper don't you? Ultimately schools like University of Phoenix will hurt all of Americans and that includes you!
  • It doesn't matter if your house is worth 15k or 15mil. If you are behind, they will start foreclosure proceedings. They don't pick and choose who they want to get to by how much is owed or what it is worth. I think the timing on it is pretty much the same. Is there any way you can call the lender and ask them to give you a few months off or refi?
  • They will demand that you produce a cashiers check at the front door. If you are the winning bidder, you will go immediately to a lender's table to be approved for the loan. You will have to close the sale in 30 days. The buyer never used to pay any fees. You just bought the house. Recently in Arizona, the auctioneers are making you pay a 5% "buyers fee". That is added to the purchase price. The sale will probably be "as is" so bid low..
  • The main thing to remember is that you can't make your bid subject to financing. You must have the funds to close and while you could get pre-approved for a loan, pre-approval is conditioned upon an appraisal and you can't get an appraisal until you have a property under contract. At most auctions the winning bidder pays a buyer's premium, the commission and that's added to the winning bid. realtor.sailor
  • Depends on the rules and regulations and type of auction. If this is a true estate auction (someone died and the executor of the estate is selling the land by auction) then just call the auction company to find out what the terms are. If this is a foreclosure or tax foreclosure auction, call the sheriff's department in the jurisdiction to see how to get hold of teh terms.
  • My husband and I are about to sell our home in Arizona. The couple buying it will purchase it as a "lease to own" sale. They can put down a large down payment ($50,000) which we will immediately use to pay down the mortgage on the house. We purchased the property in 2006 with a very high interest rate (6.5%). We would like to refinance it now, to enable us to lower our (and consequently the buyers) monthly payments, but we have already moved out of the home and live in another state. Will it be possible to refinance it now? We have excellent credit, and by putting the 50,000 into the mortgage the home will be almost 50% paid off.
  • Much depends on the contract you have with your buyer. If the $50k deposit is to serve as a downpayment, once conventional financing can be secured at the end of a lease term, that money is not yours to pay down your loan. And to use it as such would be breaking all kinds of real estate rental laws. In your typical lease option,when the buyers are ready to perform on the purchase contract the seller refunds their deposit to be applied toward their down payment and the lender may not allow a seller concession in lieu of a downpayment which would make things tougher too. It will be possible to refinance but your interest rate will not be the rock bottom rate because the property is no longer serving as your primary residence, thus the bank will view it as an investment property requiring a higher interest rate. Your insurance company should also be contacted to change your policy noting the property is no longer owner occupied. You really need to cover your back side with the insurance. Bottom line is that you will be able to refinance but may need to crunch the numbers to see if it makes fiscal sense considering the short period the loan will be continued and the fact that refinancing costs money too
  • You have to are living someplace, so staying in the apartment is mostly the first-rate wager. So far as refinancing or a dwelling fairness loan, that depends upon a few different explanations. In case your present loan is at a higher price, it can be sensible to refinance and take some cash out. If your current mortgage is at a rather low expense, simply take out a home equity loan (HEL). So far as the safety of a HEL, that is determined by what you mean. You're taking out the equity to your residence, so if you don't pay this bill, your home is on the line. If you are worried in regards to the charges, a HEL will have a fixed expense, so there is no worry of it growing. A residence equity Line Of credit (HELOC) on the other hand will adjust any time the Fed's trade the rates. I think they have been raise quite a bit over the final few years, so the rising will have to gradual down or discontinue at this factor. Of direction in case your credit is too unhealthy to qualify for any loan, you will have to on the whole promote, take the cash and repay all of your debt, appoint for 6-365 days, enable your credit score to rise after which purchase once more at higher premiums. Peace, Greg S.
  • Only a foolish buyer would agree to seller-based financing. Why in the world would you pay down the mortgage by $50,000 when you are selling the property? You should seriously consider speaking with a fee-only financial advisor.
  • refi soon. consider investing the $50,000 in a mutal fund. why pay down a loan with a rate less than 4%?
  • You can still refi, but it will not be considered owner occupied and could affect qualification and rate.
  • I am looking to open a small business in the town of Globe, Arizona. I am 21 with most likely crappy credit or none. I already know states have business grants or loans where you match the funding up front, but I am looking for a loan or grant where I don't put anything up front. And i'm really only looking to get at the max 200k.
  • I don't know of any loans that don't require at least something up front, usually 20%. Lenders want to be sure you have a motive to use their money wisely, and to see a return on their investment. Grants are hard to find, and even harder to get, so don't even worry about them.
  • Go to grants.gov/ and follow the instructions. You will find that unless you are in basic research, there are no grants for a small business.
  • McCain and four other Senators met inappropriately with bank regulators in 1987 at the behest of Charles Keating, an Arizona developer who owned Lincoln Savings and Loan. As a result of those meetings, investigations and seizure of Lincoln were delayed by two years, costing American taxpayers $2.6 billion (the largest of the individual Savings & Loan scandals in terms of cost to the taxpayer) and investors $190 million. It is an illustration of the corporatist attitude of "privatizing profit and socializing risk" -- letting business owners reap the benefits of corporate ownership while pushing the costs onto the taxpayers. Since America is currently undergoing another large-scale financial crisis along the lines of the 1980s Savings & Loan debacle (which cost the taxpayers over $124 billion total in bailouts), in the form of non-bank mortgage lenders and the Adjustable Rate Mortgage (ARM) crisis, we don't need another politician picking our pockets to pay for the poor judgment of businessmen.
  • It was a lobbying scandal where politicians were taking bribes from the lobbyists.
  • My spouse took out a student loan years before we met and got married. The loan is in my spouse's name only, and (to reiterate) was taken out before we knew each other. My spouse defaulted on the loan when they were unable to make the payments. Flash forward several years to today. The issuer of the loan is threatening to place a lien on our house and is talking about wage garnishments and other threatening measures. We live in a community property state (Iowa), but I have heard that a spouse is not responsible for a debt incurred in the other spouse's name prior to the marriage. Can the lender put a lien on our house under these circumstances? Could they attempt to garnish my wages? Thanks in advance.
  • Iowa is NOT a community property state. There are 9 community property states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin. http://www.escrowhelp.com/articles/20000...As to your concern about having a lien slapped on a house that you and she own jointly, you might consider transferring title to you. See a lawyer for how to do it. No, I don't think they can garnish your wages because you aren't responsible for debts incurred before marriage. I suppose they could garnish her wages. When you visit with the lawyer, ask about this also.
  • If the house is in both of your names they can. I would also look into the time frame of this, because there may be a clause that states they can only come after her for so many years. Also, I do NOT think that they can garnish your wages, but hers they can, only under a court order. Call an attorney, look in the phone book, most of them nowadays give out free advice. Good Luck.
  • The answer in most cases is yes to anything you own together. Doubt they'll garnish your wages - just hers. But the bank accounts - property etc is likely open game... Call and set up payment arrangements.
  • Is the mortgage for purchase money to buy the house or is it a refinance. If it is purchase money and the lender's ability to recover is limited to the value of its collateral--meaning the worst it could do to you is take the house back--then you will have no income from discharge of indebtedness. I'm your neighbor in California and that is how it is here.
  • Is this a recourse loan? If yes, the $75,000 is cancelled debt income, but can be excluded using form 982 and electing the gimmie congress gave you. If no, you effectively sold the house back to the bank for the amount of the loan. Which in your case, same result on the schedule D, no income. The question becomes whether or not your state forgives cancelled debt income. FYI, a loss on the sale of the home is NEVER deductible.
  • Normally when debt is forgiven you get a 1099-C and pay taxes on it. A law was passed that said if your home debt is forgiven and it is a non recourse loan then you will not be taxed on it. Most acquisition loans for homes are non recourse. You can walk away. You need to check this. If it is a recourse loan, as most refis are, then you must pay taxes on the amount. It is not a loss on your taxes. This law applies to 2007, 2008, 2009.
  • This is a loss so your annual tax return this can be claimed as a loss. Once foreclosed your not obligated to pay anything. The bank who forcloses is now responsible for the taxes on the property. At least in Texas that is how it worked. They generally set the forclosue date and the minimum bid is the balance on the house. Then the bank will sell it at a later time to someone else.
  • I have $33 left on my car loan from credit union located out of state (I currently live in AZ). I am moving out of state in less than 2 weeks and I'm trying to sell my car to my boyfriend. The Arizona DMV says it can take up to 60 days to receive the title to the car once it is paid off and I need to sign it over to him at the DMV once it arrives. I cannot do this if I am out of state. Is there a temporary way to sign over the car while I wait for the title? The car is also in my Dad's name so he could sign it over, but my bf doesn't want to wait 2 months to drive the car; he needs it now. Is there a way to expedite this process? Since I didn't get the loan from a bank I can't just go into the bank and have him pay the remaining blanace. Any advice, suggestions?
  • Pay it off and have the lender fax a confirmation to you that the loan is paid off. Write up a bill of sale stating that you sold it and include your DL # and address, phone number and signature. Include his information on the bill of sale as well. Indicate on the bill of sale that you will sign over the title the instant you receive it. Make sure you include the date, and make a copy of it so both of you have it in case of a legal problem. Also, some states can issue a 'Title Affidavit / Release of interest'. If yours offers this, you'll need to show the DOL the fax and they'll give you the affidavit to sign over to him. If your dad is on the title too, he will also have to sign the affidavit and bill of sale.
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  • It won't take 60 days and even if it does he can still drive the car. Thats what temp tags are for. Pay off the loan, start the paperwork to get the title. Sell the car, Write up a Bill of Sale and the car can legally be driven by the person who bought it. Onec the title is received sign it and give it to the buyer. Over night mail can get it to you for your signature. Most Credit Unions are very good about handling titles. If you call them today and pay off the loan they should process that title and send it back to you in less than 2 weeks. I got mine in 20 minutes from my Credit Union. I walked in, paid off the loan and they handed me my title.
  • The loan must be paid off before anyone can sell the car as the loan is a lein against the car and technically it is the property of the loaner
  • Do you need a loan or funding for any reason such as a) Personal Loan, Business Expansion, b) Business Start-up, Education, c) Debt Consolidation d) Hard Money Loans loan for any thing ? We offer loan at low interest rate of 3% and with no credit check, we offer Personal loans, debt consolidation loans, venture capital, business loans, education loans, home loans or "loans for any reason!”. However, Our method, offers you the chance to state the amount of loan needed and also the duration you can afford. This gives you a real chance to get the funds you need! Any interested APPLY TODAY ! FILL THE FORM BELOW TO APPLY ! FULL NAMES: _____________________________ SEX:_________________________AGE: _______ OCCUPATION____________________________... PHONE NUMBER:____________________________ ADDRESS: ________________________________ AMOUNT OF LOAN: _________________________ LOAN DURATION:___________________________ COUNTRY---------------------------- --------------------------------------... To Apply, you can contact us via email out. .with the above information Joel_keneth@yahoo.com
  • contact the bank
  • My wife and I have found a really nice home that we want to buy. The problem is there is another smaller home on the property. The seller is the executor of the estate and is not allowed to split the property. Which is fine because we intended on renting the smaller home out once we had bought the property. The problem is none of the banks in my area ( east Arizona) will finance this property because of the second home. The homes sit on one lot seperated by a driveway. They are both in need of some repairs but are otherwise in good shape. We really want to buy this home so if anyone can help find the answers we're looking for please let me know. Anyone who helps is invited to the huge cookout we'll have when we move in.
  • Ok, what you do is finance as a two family. As a mortgage broker I know a couple lenders that wouldn't have a problem doing a loan scenario like this. You have to make sure the CO's are there, but other than that it shouldn't be a problem.
  • I can do this on a portfolio loan product. The reason you are having trouble finding financning is because Fannie Mae won't take multiples on one lot.
  • I would love to be able to pay back my loans, but unfortunately I have never been able to complete school. Life would happen (lay off from work, illness (lasting about 3 months) etc). I am now about to turn 30 - and just had to move back in with my parents. Because I can't afford anything, and to top it off I moved back to Arizona from Atlanta, GA. So I am also unemployed right now. Is there any government programs or something out there to help people in my situations?
  • You can't get rid of student loans even if you file bankruptcy. You can put the loans in deferment due to your unemployment. Call your lender and ask for the proper forms.
  • I'm looking for Engineering universities that show research interest in Energy and Power sector, in particular, Power distribution techniques and Smart grid. I tried to find some but it seemed no one was interested at Power area. Like MIT, Harvard, UCB all are rather motivated for research in Computer sciences. I want to get schools and researchers that have impact in America's Electrical power history and can become a reason for the question why do I choose this school. Also what are prospects of Smart Grid in America and worldwide? Is it really a good field for Electrical/Electronic engineers to Masters in? Thank you.
  • Lots of them do. Despite your view about UCB, Berkeley actually has a Power Systems Engineering Research Center. Other US uni's that come to mind are Georgia Tech, Penn State - Harrisburg, Worcester Polytechnic, Arizona State U, North Carolina State, Iowa State U; there are many more.
  • The Kenyan made business executives out to be the villains again in his speech at the University of Arizona. Hitler had his Jews and Obama has his businessmen. Every despot needs a bad guy.
  • Uh... it's a push for "International Taxes" .... F that ! "International tax issues are expected to be a key focus of the meeting – unless blocked by the United States" A recent letter from the US Chamber of Commerce and other business lobby groups pushed the President to block the reform efforts to protect the loopholes for the few U.S. multinational companies who use them. G8 host British Prime Minister David Cameron has proposed taking up international tax rules reform at the meeting. In the United States, Apple CEO Tim Cook was recently brought before a Senate committee to explain his company’s tax avoidance activities.
  • When he decided to go after overseas "tax havens" he hurt US businesses. This is not going to help. He may get that 200 billion dollars in taxes (over 10 years), but we will lose jobs and much more tax revenue than that 200 billion as a result. This is just his way of going after the wealthy because many (if not all) of his supporters think they are "evil". They vote for him and they far outnumber the wealthy.
  • He taxes American companies overseas to force them back into the US, I live in Ireland and this was an issue a week or 2 in the news, we got 600 American companies in this country and Obama could rip us apart, that's worst case scenario for us, wouldn't be your problem though
  • I didn't know he did, but if he does, then he's more patriotic than I thought he was, because those are the fascist pigs who destroyed the economy for their own gain. If you knew the meaning of patriotism, you wouldn't be kissing up to these pigs, but there's no accounting for stupidity.
  • I didn't know he did, but if he does, then he's more patriotic than I thought he was, because those are the fascist pigs who destroyed the economy for their own gain. If you knew the meaning of patriotism, you wouldn't be kissing up to these pigs, but there's no accounting for stupidity.
  • He doesn't have to say he dislikes corporation leaders. He proves it every day with bigger government. I just hope everyone is happy with having the democratic party run their lives more and more each day. Enjoy.
  • Because he is the wealth destroyer. He wont let banks pay the U.S. taxpayer back because he wants to maintain his socialist agenda of nationalizing. He is using Saul Alinskis book.
  • He doesn't. What's wrong with tension between the administration and some business leaders? Not all of their goals are the same after all. Thanks for cherry picking a lead without giving a full citation... useless.
  • Because he's a Socialist and wants them to have absolutely no say in how they choose to run their private companies. He wants them under government control. I hope you're all waving goodbye to freedom and your inalienable rights, because Obama is gonna snatch them away from you! Just think, you could be next on the list of people who work for private businesses that the president thinks needs to be fired!
  • If the house has already been sold at a trustee sale, no she can't sell it, she doesn't own it any more. And she can't just short sell the home herself anyway - the lender has to agree.
  • Did it already sell at the auction or are you just talking about the notice of intent to sell it at auction? I assume that since you were doing a short you were working with an agent, right? Well that agent sure as heck knows whether the house is able to be sold. Once your mom accepts an offer the agent will send it to the bank that holds the note. The bank will either approve of disapprove the sale at the price offered. I suspect that you mom still owns the house but if you have any questions you really need to be asking your mom's agent.
  • Is it likely to get a forclosed home for less then asking price? We offered 80,000 for a forclosed home that was listed for 88,500. we also asked for the seller to pay closing. is it likely for them to accept our offer? -If this matters this house has a pool and there is a comp in the neighborhood that has a pending sale for 70,000 with out a pool. we also put in contract that we want to close by april 30th. my realestate agent said that us doing that will look good because the bank will see it as a short closing and the house will be off theyre books faster. btw we already summited our offer and are waitning on a response im in arizona and realestate has been a bit slow
  • 'likely' depends on so many things that you can't know the good news is that it seems as though you did everything right -- asked for want you want, etc. now it is up to the lender.
  • You are essentially offering about 72k, more then 16k less then they asked for. Are you paying cash? I am assuming so with the fast closing, most banks require more time to do their inspections. If this is a cash deal it will likely fly OK, but they may come back at around 85 since you want them to pay closing.
  • Since the home is a foreclosed one, the seller is probably a bank and getting them to pay the closing might prove difficult. Everything else sounds good. I hope they accept your offer.
  • definatly, you have to convince them and try to bid them high and low. Like an auction im sure if no one wants it they'll definatly take your offer
  • If you're referring to consumer credit counseling, a lot of banks/lenders look at them similar to a bankruptcy. It doesn't necessarily affect your credit score, but just the sheer fact that you were in one of those programs indicates that you have problems managing your credit. When you join up, they propose a payment plan with the creditor, upon acceptance they report that the account is managed by a credit counseling company to the credit bureau and companies do look at that. I wouldn't look at a company that charged you more than a small ($50 tops) setup fee and a reasonable monthly fee ($30 or so). You'll want to look for a company that can get you a breakdown on what they expect to get you on your rates and could come up with an estimated savings. Do not use Debt Free Arizona (or anything run under Help Ministries, LLC). I just googled and it looks like Ameridebt is done for you, they were crooks as well.
  • At FINANCE-SOLUTIONS.INFO- you can find the best financial solutions RE Should you consider filing Bankruptcy if you have an overwhelming amount of debt in credit cards? If you have debt including car loan, credit cards, and other misc debts more than the amount you make in a year or more is filing Bankruptcy the best option? I am young with a child and have accumulated so much debt making bad decisions and now I have to face the situation sooner or later. There really isnt any other option I can think of besides consolidationg or a debt management plan and if I were to consider a program like that I would be able to afford that. I am young and I figure if I was to file BK and get a fresh new start things will get better for me. but then I will have to face the penalties of filing BK and after that your credit score is ruined and alot of companies try to charge you an arm & leg with rates and everything. Eventually I want to buy a home dont want to have to rely on people for a co-signer everytime I will need credit. I sure can say this is a learning experience. Please respond if you fell you have good advice in this situation.
  • Pretty sure that you might find all financial answer at: loanhome.info- RE Is debt consolidation like filing bankruptcy? Does it ruin your credit? Is debt consolidation like filing bankruptcy? Does it ruin your credit? Does it cost anything out of pocket to start consolidating? Any good companies that you suggest?
  • Depends on what you mean by "debt consolidation". If you are looking for one big loan from a bank to roll all or your debt into. It will not be like filing bankruptcy. It just means that you took out another loan. If you are talking about using some company to consolidate and take care of paying your debt. Then Yes it will. What these rip off companies do is not pay your creditors for months and then try and settle for less. No special skills. They just don't pay. If that is the route that you must take. You can do it yourself and save the fees they charge. Also, Your creditors do not have to deal with these people because it is your debt. If they don't pay your creditors. You, and you alone are still responsible for the debt. Your creditors will sue you and not the company you hired.
  • It isn't like bankruptcy. It still goes on your credit report for 7 years. Based on how they revised the bankruptcy laws, I think it's better. I'd talk with your bank to recommend a consolidator. Good luck!
  • no it isn't. no it doesn't. don't do one over the phone. find a reputable place in town. check with the BBB before signing up.
  • nope, it doesnt.... all they do is pay off your bills for you and you pay them back with a little extra interest of coarse.... you should check out citi financial
  • They didn't allow money lenders/bankers back then because they thought it was a sin... the only people they allowed to be bankers were Jews, because they thought they were going to hell already anyway. Why are liberals so similar to dark age Christians in their views of economics...? Has their thinking really regressed that far.
  • They don't. Why do conservatives hold economic views that violate the principles of Christianity? A number of faith leaders have come forward to blast Paul Ryan’s extremist vision for America. Bishop Gene Robinson said, “The Ryan budget robs the poor, the marginalized and the vulnerable of the safety net so integral to their survival. By any measure of civility and regard for one’s neighbor, it’s an immoral disaster.” Read many more Christian leaders’ quotes against the GOP budget here: http://halfinten.org/uploads/support_fil...Paul Ryan’s budget plan: - takes health care away from 48 million Americans to pay for a tax cut for the richest 1% to make them $3Trillion richer - hands Medicare to for-profit health insurance CEOs, and with each year seniors are going to have to pay thousands of dollars more out of pocket while the amount the government pays will shrink - makes massive cuts in Social Security, setting the stage to hand its $2.6 trust fund over to Wall Street. No wonder Wall Street billionaires have been seen recently wearing “Paul Ryan for VP” pins. - proposes to off more than three million acres of public lands that belong to We the People in states like Arizona, Colorado, New Mexico and several others, to the highest billionaire bidder at a fraction of its real value - preserves $40Billion in taxpayer subsidies for transnational oil companies over the next decade – an industry that just last year raked in over $137Billion in profits This is corporate welfare at its most extreme, and a glimpse into the corporatocracy that Republicans want to drag us all through. ##
  • They slept through the Age of Enlightenment. They cling to the concept that "we the people" are incapable of making our own decisions and therefore must be herded like cattle by a ruling elite, both in economic and social matters. It's the same excuse used by kings, emperors, czars, and slave masters of all varieties throughout history. And, yes, in a country where Nancy Pelosi can get away with saying that unemployment checks are the fastest way to stimulate the economy, posing questions on economics is an iffy proposition.
  • in the context as US electorate oftentimes use them: One occasion of a liberal financial view could be common well being care controlled by ability of the government. that's a socialistic theory that leans a approaches left, the place American liberals stay. A liberal social view could be professional-decision with regard to abortion, as you stated. another examples are investment for stem cellular study, the separation of church and state, and the coaching of evolution as certainty at school structures.
  • Have you been drinking? You aren't even coherent at this point. When have you ever met a liberal who claimed that only Jews should be allowed to be bankers?
  • Totally untrue on every level. There was no nanny state or social net in the dark ages. Also, it wasn't that Christians allowed Jews to lend money and not themselves. Christianity forbade it and therefore they didn't do it. Judaism did not forbid it.
  • If I do recall wasn't it a Conservative that deregulated all of the banks (Reagan, Bush Sr and G W Bush)? Capitalism would have collapsed the United States' economy because they would have never saved the auto industry, housing market or banks... which are all coming back thanks to President Obama
  • During the Dark Ages economics stressed that you needed to have a lot of gold to be a rich country. Cons are obssessed with the gold standard so in fact its you guys that have economic views from the dark age. See I can say stupid things to.
  • This coming from country that thinks that a Constitution written hundreds of years ago that everything in it is relevant to today is so ironical..
  • Why ask a question on a subject you've already made your mind up on. Never a good way to start a debate.
  • Why do you live in a black or white world? Regulation is not death, infact its the way we git to be such a powerful country. This has to be one of the most absurd idiotic theorys I've seen on this site.
  • I am currently just over 30 days past due on my car payment. Yesterday, a representative from my auto finance company called my mother (whom I listed as a reference on my finance application), told her that I am behind on my car payment and that I was going to lose my car if I did not contact their office immediately. Isn't this third party disclosure in the attempt to collect upon a debt and grounds for a lawsuit? If so, what state would I have to pursue this lawsuit in? I live in Arizona, my finance company is based in Utah and my mother lives in Georgia.
  • You don't have the money to pay your car payment on time but you got funds to pay an attorney? You'd have to sue the lender in the county where they do business. The cost of filing suit would cost more than any what you'd get for the third party disclosure. Your biggest stumbling block is proving that they discussed details of your loan with your mother. The finance company is going to say they contacted your mother in an effort to locate you and they simply left a message for you to call them. This would be perfectly legal. If you don't want your mother to know you are behind on your bills, pay them on time or at least call your creditors and work out arrangements if you are going to be late. Car finance companies will do things like allow you to pay interest only and just add another payment to your loan term.
  • Sure it's ground for a lawsuit, but don't expect to get some sort of huge financial settlement out of it. The best you can expect is that a judge will order the collection firm to cease doing what it did to you. If you want to pay an attorney to handle THAT, go for it.
  • I know that has happened to me before too. I used 3 relatives as references on my application and when I got in a bind once they called all three of them. I was so annoyed and embarrased. I wondered the same thing if that was legal but never persued it.
  • If we need to foreclose on our home will my credit be effected if the home is only in my husbands name and not in my name at all? I never signed my name to one paper and the house is not in my name at all. I actually had to sign a paper stating that the house was not in my name at all and have it noterized. I am not on the deed to house title or anything. I live in Arizona which is a community propery state or something like that, but I need to know what would happen to my credit if the only link I have litterally to this home is marriage.
  • As far as your credit score is concerned, probably not...however, being in a community property state may complicate things in the long run. I would contact an attorney and ask them whether you would be subject to a judgment if your lender filed suit for non-payment.
  • Are you trying to keep your home? Loss mitigation may be able to help you save your home from foreclosure thru programs that may be available to you.
  • Your Open Question: In Az. Satisfaction of judgement why do they need to order other party?!? Iam asking a question on behalf of my cousin Derick. He lives in Arizona and wants to buy a home with his girlfriend. The bank that he is trying to get a loan from wants a satisfaction of judgement from DES, even though he got a receipt saying his child support is current. Well, my cousin went to DES a month ago to get one and was told that they would have to send a letter and or call other party to get a ok/ signature that he's current, even after he was given a receipt by DES saying he was current with no back pay owed. He informed the lendor and realtor what was said and happend at DES, when he tried to get a s.o .j.. They said they dealt with people needing one but never heard of them having trouble getting one or having to contact thu other party. They said that sounds like if they are second guessing themselves and asking her as if she were their boss. This person is a total witch, not only has she asked my cousin back three times and has made his and his girlfriends life a Living hell by - Trying to get her cousins/friends are his friends that see him as family and even his other friends and family against him. Even bashing them on Internet and playing victim Etc. My question on behalf of my cousin is- Has anyone gone through this? If so, what did you do? Thanks do much! Please no smart remarks/bashing of any kind. Asked by vdmcl 6 hours ago 4 days left to answer.
  • The DES agency would need to get a phone call followed by a letter of request for that information. The lender wants it direct from DES to assure the information is accurate. I think it's actually doing him a favor...people that are not married should not be making large purchases together. If the relationship fails, it's a real b|tch fighting it out in civil court...much, much worse than divorce court.
  • I've been pre-approved and the lender doesn't seem to be pushing me towards the high end of the loan amount but more about what I could really afford. He is also looking into Grants available for me to help with buying the house. I'm a single mom so every bit helps! So I seem to have the loan part taken care of and Ive searched MLS, I'm not looking to jump into anything but what are my next steps, what should I prepare for? What types of questions should I ask, what about a home inspector? I also don't have a realtor I am set in stones with yet. There is a fellow who has been pretty helpful by finding me this lender, so I think I'm probably going to go with him as my Realtor. He's nice and also not pushy. Any advice you could give me would be awesome! Thanks!
  • Check the prices of properties in the same area using Zillow http://www.zillow.com/homes/tucson-arizo...to see that you are paying a fair price. Just one of the considerations.
  • Are you currently a US citizen or green card holder? If not, please note that buying a property in the United States does NOT give you citizenship or a green card. A property with a price tag of over X amount will give you an investor visa but only for as long as you own the property. Also, if you are not from the US and have no credit history, you will need to do a cash purchase as no lender will give you a mortgage. As for your actual question, there is no correct answer. The reason is that everyone has a different opinion of where "the best place" is. Personally I love Boston and New England in general but if you hate snow and summer humidity, you would hate it. If you hate hot temperatures, you'd eliminate Texas, Arizona, NV etc. If you hate rate, say goodbye to Oregon and Washington. See what I mean?
  • I would say that you should buy a home in the southern section of the US, because you can get more home for a smaller price. Places that are very popular (California, NY, TX,) have homes that are very small for a lot of money. Florida, however can have a 4 bedroom ranch with a huge kitchen, and indoor pool all for just around $375,500. Up north say in Wisconsin (Where I live) a home like that would cost easily around $500,000-$700,000. The south is better, because you get more home for less cash. And you don't have the cold snow and winter.. Just saying!
  • you will have to buy a home for cash. move to florida, or texas so that family can be around spanish speaking people. nice of you to support all those people. almost impossible to find a job if you are from the "outside".
  • My timing belt slipped on me when I was driving from Chicago to Virginia. The engine was damaged in Maryland and the car was useless. I took it to a mechanic and they agreed the car was damaged. I needed to get back to my military base immediately so I had to abandon the car. Before doing so, I called the loan company and informed them of my situation. They informed me that they would not be able to come get the car because it was too far. So I left it. It was later noted as an abandoned vehicle and the loan company was called after I was called to see if I wanted the vehicle. I told them no and they asked for the title and told them to call my loan company. The loan company was called and they agreed to get ride of it, as I was still making my monthly payments on time. Well recently, I was looking for a new car to refinance. I wanted to buy out the old loan, as I had been paying for a car I could not drive. At the dealership I was inquired about my old vehicle. I had to provide the loan company's information as well as the VIN number for the vehicle. During this process we found out that the car I had been paying for was sold and registered to someone living in Arizona. Now I feel as though I should not be paying for this car every month because the company I am making payments to no longer owns the car title. I was never informed about this but am being expected to make car payments. They are telling me I'm responsible for payments still even though I will never receive the title that they chose to sell!
  • The fact that you abandonded the car and your lender didnt want to go after the car does NOT remove your promise to pay. And how you "feel" has nothing to do with it. You will not likely get another loan until that one is paid in full and on time.
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  • Based on what you said, you returned the car in what is called a "voluntary repossession." In such a case, or even a "regular" repossession, the lienholder will auction the car and apply the proceeds to your loan balance. In most cases, the auction proceeds won't satisfy the loan balance, thus requiring the debtor to continue making payments. (There may be such language in your loan contract. Look for it.) As much as you think such a requirement is unfair, that's the way it is.
  • Okay. I foreclosed on my house and bank of america sent the 20% split of my loan to collections instead of foreclosure. I contacted the debt collection agency and they stated that Arizona state law states that I don't have to repay it therefore they have not been and will not contact me about it but the only way to get it off of my credit report is to pay... anyone have any other suggestions or know what statute covers this?
  • The statute is the non-recourse statute. What has happened is after foreclosure, the house was sold for less than you owed. That means you owe the difference except in a non-recourse state, the lender cannot come after you for the debt. It doesn't mean the debt is wiped out, just you can't be sued for the debt, so there is no sense hounding you to pay. And yes, the only way to get it off your record is to pay the difference.
  • You still owe the debt. It's just that the creditor cannot go to court to enforce collection of the debt. It's going to be on your credit report because it's a defaulted debt. You aren't required to pay it back. What more do you want??? Sheesh.
  • Ok so i'm new to this and a few questions i'd like to ask including about insurance as well..(I'm in Arizona if that helps in anyway with the insurance question): First off: I don't have credit is getting a car a good way to start a my credit? 2nd: Like I said no credit so can i even take out a car? 3rd: is there anything i should not let them over charge me with, cause i know a few will wanna trick to add on, what exactly are they? 4th: If i end up buying a really cheap used car do they still do payments there? 5th: and last me being 25 yrs old, is insurance based on my age? or the year of the car or both? please explain! thank you for your time please help me out thanks :]
  • Getting a car is a good way to start your credit, however an even better way is to get yourself a secured credit card with $100-$200 and use it for gas for 6 months. This will allow you to show your ability to pay your bills consistently. However, if you need the vehicle sooner, you may get a higher rate. Newer cars can be used as collateral for the loan, giving the lender less risk. You may need to use a co-signer like a parent or sibling, but it is possible. When selecting your insurance, be sure and use an independent broker so you can be sure and get the coverage that works for you, and not just what is offered by a single insurance companies basic policies.
  • As far as used car dealers go there are a lot of those little car lots that advertise cheap cars they are called buy here pay here dealers and some of them will take a paycheck down and as much money as they can talk you out of every month until the car is paid off. Most will want at least a grand or more down. Its to your advantage to save as much as you can the more you put down the more car you get. the biggest problem for you is finding a good car. Most of Thar stuff on the lot are marked as is which means it is a pile of crap already. I suggest that you not buy a car unless it has some kind of a warranty and don't sign anything until you have a mechanic inspect the car before you buy. I like to do 40 minute to an hour test drives which is not popular nor is the mechanic idea but I don't care what that dealer thinks Im the one who has to pay to fix the car if it breaks. So if you do not have many mechanical skills get the car to a mechanic you trust and tell him you want a 100 dollar inspection. beyond that saving 4 grand or more and buying a private party car is a better way to get a good car. anymore nowadays I would stick with a toyota a nissan a honda a mazda or a subaru they all have good strong 4 cylinder engines that will run forever and get good gas mileage. you need to be somewhat familiar with how to look up the price using a price guide of some kind online or you will get screwed I like to use www.nada.com the consumer section does old cars new cars classics and at least you can get some idea of what a good condition car would be worth. After all if the price is too high you can make a lower offer and either walk away or if its accepted you can drive it home. but getting to know a particular type of cars price can help you when choosing. Lots of people ask on yahoo here as well. That is not a great way to get good credit. The best way is to open a checking and savings have your paycheck put on direct deposit to checking put 25 percent into savings every check and don't touch it and pay all your bills out of checking this way in a few years the bank can look at how you spend your money when applying for a loan. its important to leave money in savings I cannot stress that enough. you should open one secured or unsecured credit card and pay the balance every month. do not bounce any checks. this is the only way to get good credit its simple but it takes a while and in order to get a loan for a car you need about 3 grand a month in income or a cosigner with a good income. If you get a car from a dealer you will have to carry full coverage until its paid off so figure this into your payment too. In order to find insurance rates you need the type of car and you need to call local agents from the phone book for the best rates. Insurance is higher the first policy period. after that as long as you have no accidents or tickets the rate will come down so try to get a six month policy so you pay high rates for six months. I may have missed a few questions but this is enough for now best of luck
  • I don't want to throw cold water on your idea but you are way way too low to do anything of a serious nature. I have a house worth less than $250K but not much. I bought it when it was selling for $95K and I put $10K down. I was lucky enough to get a 30 year fixed mortgage at 4.875%. PITI (That's loan Principal, loan Interest, property Taxes and Insurance) amounts to just under $1,000 a month. If you really are serious, you will need an adult in on the deal. You are not old enough to execute and have a contract binding on you (at least no where I am familiar with) so the lenders will want someone older on the note. Spend a few minutes with a mortgage broker. They can give you all the numbers and conditions in just a few minutes. Good luck...
  • The mortgage payment on a 250k house is way greater than $300 a month. If you do an FHA loan, the down payment is 3.5%. Conventional loans are anywhere from 10 to 20% down and up.
  • I heard of the number 20%.
  • It depends on if the buyer is financing the purchase or not. The loan approval process and escrow /title work is what takes the most time. A cash purchase can close pretty quickly. I would encourage you to use a purchase contract and other applicable forms for the transaction as well as including an inspection period if you are the buyer. In Arizona non-realtors are permitted to use our standard contracts so if you know an agent ask them if they will give you copies of the forms to use. You want to make sure you hire a licensed home inspector (usually $200+ depending on the size of the house) to make sure there are no big issues with the house like termites, cracks in the foundation, heating and cooling systems that don't work, room additions done without permits, etc. Also if you are the buyer I would encourage you to consider using a licensed realtor. Usually the seller pays their fee and even on a FSBO your agent may be able to negotiate their commission. You can certainly purchase a FSBO property on your own but having the guidance of a real estate agent can be valuable and provide you with added protection and knowledge throughout the process. In any situation the seller is going to review all offers and choose one to work with. When an offer is written and submitted to them, however, the buyer places an expiration date on the offer leaving the seller with a limit on how long they have to respond. Usually, 24-48 hours. Typical closing time needed for an FHA loan is 30 days from execution of the contract but confirm this with your lender. Some need more time than others depending on how busy they are.
  • Let's be a little more specific, a home that is being sold through a Realtor that is homeowner owned and is NOT a short sale, is most desirable. In most cases if the homeowner is living in the property, they have taken care of it. If it is a bank owned property, the only difference would be that no one has taken care of the property for some time and your mechanicals could need repair or replacing. These would not necessarily result in a slow closing. But homeower owned and lived in is your best bet.
  • Probably When you are buying a FSBO, you are dealing directly with the seller, not a 3rd party who is gathering as many offers as possible and just sitting on them, until they feel like accepting one. Also, it is a straightforward sale, only difference is they are not using an agent.
  • While they would not give me an exaqct quote without more information regarding the proposal, following is a list of such movers, who would give you a much better idea of the cost and permits involved: ALFIES MOBILE HOME TRANSPORT 3109 PARKWOOD TRAIL cleveland, TN 37312 Phone: 423-432-3626 FAX: 423-473-7685 Email: ALFIERAINES@CHARTER.NET NATIONWIDE MOVERS,WE GO ANYWHERE,SPECIALIZING IN LONG DISTANCE MOVES. EXPERIENCED AND REASONABLE.WE MOVE MOBILE HOMES, MODULARS,CAMPERS,AND RVS, CALL US FOR A QUOTE C S S Mobile Homes P.O.Box 9 Paoli, In 47454 Phone: 812-865-3377 FAX: 812-865-4477 Email: lerrad@blueriver.net At C S S we provide a complete mobile home consulting service,sales, service,transporting. At C S S we are not a Dealer. We work with many Dealers,Lenders,Transporters,Factories, and Service co.We can get you a transportation Quote in 24 hrs, or get you a price Quote on a new home. HINSON TRANSPORT SERVICE 4650 PEACHTREE ROAD LOT 1 MYRTLE BEACH, SOUTH CAROLINA 29588-9351 Phone: 18885521940 FAX: 18432368275 Email: hinsontransport@skybiz.com nationwide hauler of mobile homes over 20 years .dod approved.cell ph. 8438417436. 2nd. email rfh 7436 @sccoast.net SUPERIOR SERVICES CORP 88 West Albert Dr # 11 Manitowoc, Wisconsin 54220 Phone: 920-684-6024 FAX: 920-686-1426 Email: superiormhsc@lsol.net Mobile home transport,pilot cars,home setting,service,parts,structure moving,expediting Parker Mobile Home Service 2625 Rosemary Ln. High Ridge, Missouri 63049 Phone: 636-677-4982 FAX: 636-677-4982 Email: bill@PARKERMOBILEHOMESERVICE.COM Tear-downs * Deliveries * Set-ups. Local or long distance. Single-wides, Double-wides, Basement & Foundation sets. VISA & MASTERCARD accepted. Insured and reasonable rates. For all your mobile home needs, give us a call. 636-677-4982 Collins Transport 108 North McLane St. Payson, AZ 85541 Phone: (785) 842-7347 FAX: Email: collinstransport@email.com Collins Transport with 35 years in the manufactured housing transport and set-up industry can handle most customers needs.We are located in the mid-west with offices in Kansas,Colorado,and Arizona. Factory and dealer dicount program available for multi-unit moves T and T Mobile Home Transporting
  • Sir, do your self a favor and sell that thing and make a down payment on a house. It will cost way to much in the long run (the move, insurance, and possible repairs and depreciation) and minor cost of relocation will mount up........I know sir. Please think it over and good luck.....
  • About $5,000 plus tax, then the other costs to hook it up to utilities after moving it.
  • It seems to me he's using the financial crisis to dodge a subject that he's not ready to confront. After he put his foot in his mouth by saying that the economy is fundamentally strong and being republican, who has been in control for eight years. Lately he's been changing his mind like a sponge absorbing whatever he's standing in knee deep. It looks like he went so far as to have his party leader George Bush to call Obama and himself to a economic meeting trying to avoid friday's debate. [How can he (Obama) turn down the president] I have been voting republican for the last 3 or four terms, and I tell you this dishonest man is turning me off! What a "change" of character. Since the 2000 race John McCain has turned into a snake.
  • HahaHa...You don't even know what's going on, do you?...Instead of saying that McCain isn't doing anything (because YOU don't know what he's doing), how about finding out what he IS doing? McCain (along with some other Republicans) is trying to devise a better bailout plan...One that benefits the taxpayers more than the banks. "McCain said he wants to leave the door open to an array of proposals to address the problems and seemed to suggest he might even be open even to solutions that stray from the GOP line. “I will not play election-year politics with the housing crisis,” he said, adding he would evaluate all proposals. “I will not allow dogma to override commonsense.” But the small-government advocate and four-term Arizona senator also put restrictions on how far he was willing to go. “I have always been committed to the principle that it is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers,” McCain said. “Government assistance to the banking system should be based solely on preventing systemic risk that would endanger the entire financial system and the economy.” He said any government assistance to alleviate the housing crisis must be temporary and should be accompanied by reforms that aim to make the system more transparent and accountable to prevent a repeat of the crisis. He said no assistance should be given to speculators, or people who bought houses to rent or as second homes. Asked whether the Fed went too far in helping Bear Stearns, McCain said: “It’s a close call, but I don’t think so.” He said he doesn’t support federal bailouts unless it has catastrophic effects on the entire financial marketplace and there were indications that a Bear Stearns failure would have rippled across the entire economy. McCain also said people shouldn’t be able to buy homes with little or no money down, such as the interest-only loans banks have given the last few years. Lenders, he said, “should never insure loans when the homeowner clearly does not have skin in the game.” "One sign of potential trouble came from conservative House Republicans, who were offering their own plan, one that would require less government intervention. It would permit Washington to provide insurance to firms that buy troubled assets. Firms would pay insurance premiums to the government in return for coverage. "We feel it is best to resort to private capital first," said Rep. Eric Cantor, R-Va., who led the effort. Taxpayers "should not have to pay to bail out Wall Street." Rep. Spencer Bachus of Alabama, the top Republican on the House Banking Committee, sat in on the negotiations Thursday and said he was not sure that House GOP members would embrace the package, but added, "I think we're closer." This was a funny part: Obama's camp boasted that he'd played an important role in the executive pay negotiation. But Banking Committee staff said that while Obama's staff stayed in touch with negotiators, the senator had no apparent role in brokering any deal. http://www.modbee.com/24hour/politics/st...
  • My opinion is that McCain did not like the fact of explaining a man of color his views and ideas, sorry to say this and not being a racists because I have mixed blood of different nationalities, and to make a point of that McCain did not look at Obama when he talked about him and making remarks about him, so wake up people there is still a race issue in America. Having served 22yrs of my life in the military defending America I have earned the right to express my true feelings but always with respect to another.
  • Running like a headless chicken. That would be a more accurate description. McCain had just finished the closed-door meeting presided by Bush, with Obama in attendance too. According to sources, McCain haven't said much throughout that meeting. In other words, he accomplished nothing. The so-called "leadership" that he said he would do is all but gone. Avoiding the scheduled debate and flying to Washington just to end up accomplishing nothing, is hard to take.
  • my question is is this the best the GOP can do? and look at the current leader of the GOP he is a joke. but what he has done during his time in office is no joke. When he came into office we were in good shape economically and our military was in good shape too and damn now we are all screwed up and hot head Mccain thinks he can fib his way into 1600 PA Ave but the American people are smarter than that. He is old and has cancer and may not be alive in 2013 the end of what would be his first term and i do not think a Sarah Palin Presidency would appeal to many Americans
  • The worst of it is backing out of the debate on Friday... that's just sooooo wrong. Neither candidate will debate a viable third party candidate - that is also sooooo wrong. So why not let Ralph Nader and Bob Barr in on the debate Friday, since Obama (last I checked) insists he's still going to participate???
  • Even the Republican Party is seeing what McCain is all about. He is a true chicken with female genitiles. I agree with you 100%. He keeps using the story of his seven years as a prisoner of war. I felt for him, but now it's time to separate that from his Political ambition. I firmly believe that Senator McCain is not a stable candidate to be our President of th United States. Too bad and so sad.
  • McCain has been asking Obama to take part in townhall meetings for months and months, even offering to pay for Obama's plane fare, so who is the coward? Obama is just whining because he took three days off from campaigning to prepare for the debate. The debate is going to be on foreign policy. I say they do the debate on Friday, but change the topic to the economy, since that would be more relevant. Obama would quickly agree that they should delay the debate because the guy cannot think on his feet.
  • McCain wanted a fake controversy... now he's got a REAL disaster as the House Republicans balk on a near done deal. McCain's pull over the Republicans seem rather weak.
  • / Senator McCain has asked Obama all year long, to debate him in Town Hall meetings, but Obama has been too afraid of McCain, and being in a spot without a teleprompter. Sen. McCain even offered to pay Obama's jet fuel cost ($4,000. per hour) to travel to each Town Hall meeting, but again, Obama is afraid of speaking where no teleprompter is present. Now, Sen. McCain is doing what he does best - putting America first. McCain/Palin 2008
  • I agree, McCain looks like a scared little puppy who is afraid of the big dawgs!
  • finance or rent a townhouse from my hometown that I've always wanted since a kid while I'm at my post whether it be in the states or overseas. Total value of Townhouse 175,000USD check them out on the links provided http://phoenixurbanliving360.com/downtown-condos-lofts/metro-manor-phoenix-az http://www.phoenixcondomania.com/condos/METRO-MANOR.php http://www.youtube.com/watch?v=qdKduTprWa Im single and I am determined to be until I am financially set or content. Ill make ~1300USD after taxes a month but I am determined to get promoted to Lance Corporal on my 10 day leave which will raise my pay to 1650USD a month. Thanks for the suggestion but I dont need a car. I want this location because it's right next to a mall,grocery store, and a light rail that leads to the Arizona State University were I will attend after my service.
  • With no credit, I don't think that you will get approved for financing right away. I think that after you have been in the Marines receiving a check for at least 6 months that THEN you have a chance to be approved. It's like any other person applying for a loan. The lender wants to be sure you have consistent and verifiable income.
  • Chances are, if they let you drive off in the car, they will very likely get you approved. If not, you got a free rental. Despite what clueless people say, dealers do not want people who cant get approved driving their cars for free. Now, you are only obligated to the deal you signed. Not a penny more. So if they try to get you to pay more, just say no. Spot delivery is used to encourage a looker to become a buyer. Id say 98% of the time if they let you drive off with their car, you will be approved at the terms you signed. All that being said, I wonder if there is a potential for abuse by unethical dealers. Suppose you are approved and you love your car. And they pretend you were not approved to try to get more money out of you. If you agree to pay more, that just pads their pockets. If you refuse to pay more, they come back & say, they fought for you and the dealer lost money but they let you keep the deal. So they have nothing to lose by trying to get you to pay more. Unless you did something like like about your job or income. Then all bets are off. If you got fired last week and they find out, the deal is off. Its those 2% of people who make a lot of noise. They were trying to rip off the lender. If you are honest, chances are you bought a car at the terms you agreed to.
  • As soon as they find you a financing deal they'll let you know. RE: Car financing - how long does it take the dealer to let you know if you've been approved? So I bought a car during the evening and my car financing was conditional and I was wondering how long it would take the dealer to let you know if you have been approved or not? Are they required to tell you after a certain number of days? I live in arizona if that changes things.
  • If you have good credit, the approval can happen instantaneously. However, since you bought at night, it would be the next day. If it takes longer than that, it means you have poor credit and the dealer is having a hard time finding a bank or finance company to approve you. If he has to try multiple banks, it could take days, even a couple of weeks -- and you still might not be approved.
  • do not leave dealership until you have final price/amount. conditional, don't be naive. days? minutes is more like it, no matter what day/time
  • Hi, I am certified mortgage planner. I assist home buyers with the loan portion of the transaction. Here are my thoughts. The markets certainly have not bottomed out in some areas, so a part of your answer is going to depend on where you are. If you are in Arizona, the market is still pretty hot. If you are in Michigan, you can find some pretty nice deals right now, even though Michigan has not bottomed yet. Prices nationwide are pretty competitive, rates are still really nice. I bought my first house over 12 years ago and was thrilled to get a 7.5% back then. I honestly would think that wasn't bad now on a fixed rate mortgage. So now that you have decided to buy, ask yourself the following three questions: what is my true capacity? How much can I afford to pay each month with my PITI payment (principal, interest, taxes and insurance). Take your net (bring home) subtract all your bills (including the lattes and eyebrow waxes) and then take away another 10% for incidentals and spending money. What is left is what you can really afford for PITI. The lender will base the capacity on gross income minus only the items that report on your credit report. Credit - how does it look? Do you have crappy numbers, do you have solid tradelines (at least 2-3 ) or are you new to the credit field. Do you have any old foreclosures or bankruptcies? collateral - once you determine the first two, you can look at houses in your real price range. Good luck! If you have any questions - please feel free to ask. whatcaniaffford@yahoo.com
  • 2
  • Hi there.... my advice to you is this. 1) Don't try to wait until prices are lower. The only time you really make out is when you refinance for a much lower interest rate. In the end, the housing market tends to balance itself out. High interest rates = lower home prices.... Higher home prices = lower interst rates. 2) Your rent might be normal for where you are. In NYC, a studio could go for 1500 a month depending on where you are. Anyways, you are throwing your money away. If you can, buy a home. If you do buy a home, wait until late fall to early winter. That is when the real estate market slows up (kids are in school, the weather, etc) and you can find some great deals because sellers may be desperate to unload their homes. Wait until October to start looking and buy in the winter. You will save more money that way. Anyways, good luck to you.
  • I think now is an excellent time for you to purchase a home. Interest rates are still low, plus the housing market has cooled off a bit so that housing prices have come down a bit. Generally a good rule of thumb is that you should expect to pay 1% of the mortgage as your total monthly payment (for your mortgage, homeowner's insurance and property tax). If you can't afford to purchase a single family home, you should check out condos and townhouses.
  • Rent To Own Homes : http://RentToOwnHome.uzaev.com/?PXyX
  • That's very high rent. Talk to a reputable realtor.
  • I've been following this from the beginning...This is what has happened since McCain arrived (more developments expected around noon today)...Read it all if you want to know what's going on McCain (along with some other Republicans) is trying to devise a better bailout plan...One that benefits the taxpayers more than the banks. "McCain said he wants to leave the door open to an array of proposals to address the problems and seemed to suggest he might even be open even to solutions that stray from the GOP line. “I will not play election-year politics with the housing crisis,” he said, adding he would evaluate all proposals. “I will not allow dogma to override commonsense.” But the small-government advocate and four-term Arizona senator also put restrictions on how far he was willing to go. “I have always been committed to the principle that it is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers,” McCain said. “Government assistance to the banking system should be based solely on preventing systemic risk that would endanger the entire financial system and the economy.” He said any government assistance to alleviate the housing crisis must be temporary and should be accompanied by reforms that aim to make the system more transparent and accountable to prevent a repeat of the crisis. He said no assistance should be given to speculators, or people who bought houses to rent or as second homes. Asked whether the Fed went too far in helping Bear Stearns, McCain said: “It’s a close call, but I don’t think so.” He said he doesn’t support federal bailouts unless it has catastrophic effects on the entire financial marketplace and there were indications that a Bear Stearns failure would have rippled across the entire economy. McCain also said people shouldn’t be able to buy homes with little or no money down, such as the interest-only loans banks have given the last few years. Lenders, he said, “should never insure loans when the homeowner clearly does not have skin in the game.” "One sign of potential trouble came from conservative House Republicans, who were offering their own plan, one that would require less government intervention. It would permit Washington to provide insurance to firms that buy troubled assets. Firms would pay insurance premiums to the government in return for coverage. "We feel it is best to resort to private capital first," said Rep. Eric Cantor, R-Va., who led the effort. Taxpayers "should not have to pay to bail out Wall Street." Rep. Spencer Bachus of Alabama, the top Republican on the House Banking Committee, sat in on the negotiations Thursday and said he was not sure that House GOP members would embrace the package, but added, "I think we're closer." "A key Republican lawmaker stated that Sen. John McCain (R-Ariz.) wants to explore new ideas, like loaning money to financial institutions or insuring the companies, rather than buying their toxic debt Rep. Spencer Bachus (Ala.), the ranking Republican on the House Financial Services Committee, attended the meeting at which some say a deal was reached. But he later issued a statement saying he wasn’t authorized to negotiate or approve any deals for House Republicans He added that McCain is interested in using loans or insurance rather than having the government purchase the toxic debts of Wall Street institutions. “We would prefer a loan or supplying insurance,” Bachus told reporters. “These are the ideas Sen. McCain tried to maximize. He feels strongly we have to design a program where taxpayers won’t lose.” This was a funny part: Obama's camp boasted that he'd played an important role in the executive pay negotiation. But Banking Committee staff said that while Obama's staff stayed in touch with negotiators, the senator had no apparent role in brokering any deal. http://www.modbee.com/24hour/politics/st...THIS is the House Republicans' plan: Here's the bullet points directly from the House GOP plan: * Rather than providing taxpayer funded purchases of frozen mortgage assets, we should adopt a mortgage insurance approach to solve the problem. * Currently the federal government insures approximately half of all mortgage backed securities. (MBS) We can insure the rest of current outstanding MBS; however, rather than taxpayers funding insurance, the holders of these assets should pay for it. Treasury Department can design a system to charge premiums to the holders of MBS to fully finance this insurance. * Have Private Capital Injection to the Financial Markets, Not Tax Dollars. Instead of injecting taxpayer capital into the market to produce liquidity, private capital can be drawn into the market by removing regulatory and tax barriers that are currently blocking private capital formation. Too much private capital is sitting on the sidelines during this crisis. * Temporary tax relief provisions can help companies free up capital to maintain operations, create jobs, and lend to one another. In addition, we should allow for a temporary suspension of dividend payments by financial institutions and other regulatory measures to address the problems surrounding private capital liquidity. *Immediate Transparency, Oversight, and Market Reform. Require participating firms to disclose to Treasury the value of their mortgage assets on their books, the value of any private bids within the last year for such assets, and their last audit report. * Wall Street Executives should not benefit from taxpayer funding. Call on the SEC to review the performance of the Credit Rating Agencies and their ability to accurately reflect the risks of these failed investment securities. *Create a blue ribbon panel with representatives of Treasury, SEC, and the Fed to make recommendations to Congress for reforms of the financial sector by January 1, 2009. http://www.politico.com/blogs/thecrypt/0...The candidates' contributions to the bailout plan: Senator McCain has outlined five improvements he wants: 1) Greater accountability from a bipartisan board with oversight 2) A path for taxpayer recovery of funds 3) Complete transparency in review of legislation -- all details made available online 4) Absolutely no earmarks to be included in bill 5) Curbs on Wall Street executives' ability to profit from the bill. Obama's contributions: 1) Subsidies to working families to beat high food and energy prices. 2) 'Mutual responsibility and reciprocity' - Calls for banks to subsidize bad borrowers to "protect homeowners and the economy". 3) New oversight and regulations of our financial institutions - Forcing new bureaucracies and regulations into the private sector 4) Empower unelected foreign entities to the same 'globally coordinated (rescue) effort' 5) Include assistance for home-owners facing foreclosure
  • Go to Yahoo and read the headlines and the Buzzed articles. What you are missing is that John McCain went to Washington while the Committees in both the House and Senate were working on some kind of controls over how and what shape any bail out takes place. For whatever reason probably because of the large amount of campaign money that McCain has from the real estate and the financial interests (Check out this on open secrets) McCain showed up and asked that Corporate Tax cuts be considered as a solution or some such thing and blew apart all the work that had been done. The smartest thing for both candidates was to stay away and not get in the way and go on with the debates. Interjecting a political campaign into negotiations in Congress and the Senate by personally appearing just brings the campaign circus into what are tough and tricky negotiations. The deal is dead, we as taxpayers are on the hook for millions due to the preparation for the debates. And McCain is proposing that Palin and Biden cancel their debate and give that slot to Obama and McCain. That is if the financial crisis is solved by Thursday. This is total grandstanding. Obama was called by a Republican and asked to do a joint statement with McCain to send to the Committees. McCain instead of doing this, just called a press conference and rushed off to Washington DC. to be there personally which is not a good idea. As anyone who has ever done political negotiations knows the last thing one needs is someone who knows nothing about the situation and is running for office show up.
  • No, according to Dodd they had a deal or I should say the broad outline of a deal. What they did not count on was some republicans finally growing a pair and standing up for their constituents. There are a lot of us out here who do not want the federal government using our tax dollars for this bail out. Obama has never been able to work with both parties but McCain has a history of doing just that so I doubt he killed the deal. You might try paying more attention that way you would not be missing anything.
  • You are missing that not one person, democrat and republican, who answered reporter's questions said the reason for the dead deal was because of John McCain. In fact, the dems claimed John McCain did absolutely nothing. So I think that you have made a rediculous conclusion. Perhaps what you are missing is reason and logic.
  • The democrats changed the Bush Bailout so much that it was questionable whether or not it would work. There is another idea that includes 5 year loans to the banks by the US gov't with very low rates, getting rid of the regulations that caused the mess, and no capital gain taxes for a couple of years that would probably work even better. Bush and his team probably thought of these too but realized that democrats wouldn't vote for them (my thought).
  • Thank God he showed up, hopefully the democrats will follow suit andsave the taxpayers 700billion dollars!!! If the bailout went through we would be paying instead of the greedy ceos and wallstreet. Obama was willing to let it pass to play politics I respect Mccain for looking out for my pocketbook and make it a loan with restrictions and regulations instead of a gift for their greed!!! shame on the dems and shame on obama!!!!
  • Not according to a statement issued by Harry Reid on Tuesday. Harry Reid said that if McCain wasn't party to the bailout legislation that the democrats wouldn't allow a vote. I guess Harry didn't count on McCain actually doing the right thing for the American people.
  • you are missing the fact that you ONLY seen the democrats come oin tv and tell you that a deal was done, you did NOT see ONE republican on TV saying it was a done deal. hmmmm...... democrats trying to protect obama. hmmmm... from what I seen in the congressional floor was the republicans "at work" still arguing over it. but the dems were the ones making speeches about it being ready. Reid asks mccain to step in on tuesday and then weds says he never said it. LOLOL
  • It wasn't dead when John McCain showed up - why don't you do a little more research first before posting.
  • The deal was ready according to who? Need I remind you yet again that the dems are not going to let this deal be passed unless they have considerable Republican support, even though they have enough votes in both chambers to get it passed. They alone do not want to be held responsible for the crappy legislation that will make this country socialist.
  • The facts. The story about being close to a deal was a lie Democrats fed to the press so they could blame the "no deal" on McCain. They were never even close.
  • I jacked up my credit at a young age with the ever-popular car loan. The vehicle was repossesed and sold at auction and I was sued by a local collection agency to collect the difference. The amount at that time was $6200~ it is now $7585.10. I just made arrangements yesterday to repay this amount with the collection agency because the bank that I got the loan from said I had to deal with the collection agency. My credit report shows an entry from the bank with a charge-off, then an entry from the collection agency for the amount. The lady at the agency said that once I pay the amount in full I will get a letter from the court advising of satisfactory payment and both records on my credit report will change to paid in full. Is this correct? and how will this affect my credit score? I have 2 other collection items still on my report marked as paid (I paid them last year) from medical bills. I've tried disputing them to try & get them completely removed since they're paid but they remain.
  • In response to Ms. Rosa, I think you misread my post. I said I paid the medical bills last year. The car loan is actually a little over 3 years old and like I said, threating to take me to court isn't an issue because they already have done that and they have a judgement in their favor. I did find out about the ability to make a settlement, but I'm just going to pay it in full. It certainly sucks bawls knowing that I could probably have saved $3000. But I think I'll feel better about it in the end. Then the b*stards can't ever say I owe them ANYTHING because I paid every last copper-plated cent!
  • I liked what the first lady said in her answer. Take Caution when dealing with collection agency's. By the way what state do you live in? yep makes a difference. Also please don't believe a word the collector said about your credit report. That repo will not be off there for years it will just show as paid. You will have to get a signed letter from the collector and the original company before you pay the money stating they Will not validate the repo if you dispute it on your credit report. You then may have to fight with all three credit bureaus to get that promise upheld. I deal with 100 or so different people every week and see at least that many credit reports and one thing I can tell you is I have never seen an original creditor take off a repo with out a huge ordeal and fight. The collectors will tell you anything they can to get the money from you. That is their job and they typically make a commission off of thier collection. As for the medical debt. Typically lenders let you have a certain % on your credit report and take the situation you were in under consideration. Kourtnie Donihoo Prosperity Financial p.s. I just read the part about the judgement.. Forget it that will not come off that report for a while and it will be way more then 6 months before your credit score goes up enough to be considered " good " credit. We are talking years. Even if it is paid. Have they garnished you yet? can they? what state do you live in? If you live in a non garnishment state sometimes you can negotiate a better deal then what you have . Yes judgements can be negotiated. Happens all the time. 10/13/07 @ 9.14p.m Judgements can be negotiated. That is a fact. They have to be at least 6 months old before considered. ... That is if they have not garnished yet. The handling of that process is not done by the normal everyday person unless they have done thier research and are under certain circumstances I know that for us our attorneys handle it. It is done none the less.
  • I used to be a bill collector on auto repossessions. Yes after you are paid off on the car loan your credit will go up after about 6 months. But this letter she is saying you will get from the is not true. The collection agency at this point owns your debt, they brought it off the orginal creditor (that is why the orginal creditor tells you to talk to the collection agency) so the collection agency is the one that will be mailing you a letter that says it has been paid. What upsets me is that the person you are dealing with seems like she maybe be threating to take you to court and that is against the law. A collector cannot threaten you with court unless they really are going to do it they are not allowed to use the words"legal" "action" or "persue" . And since you say that this debt is only a year old I know for a fact the debt is just too early to go into a judgment, garnishment, or anything legal. That usually takes about 5-7 years. You can sue this women if you get her on tape saying these things to you over the phone. About the medical bills you cannot dispute them if you paid for them because if you paid them then you agreed they were yours by doing so. So you really can't do anything about those but medical bills are not a big deal. It's the loans and the credit cards that kill your credit score. Also did you know that you can actually settle for car loan debt for up to 40% less. The collector won't tell you this because she makes commission off your payments so the more you pay the more she gets out the deal. So the math on the settlement is 7585.10 - 40%(3034.04)= 4551.06 and you can split that up to 3 payments 1517.02 and payments must be made every 30 days or settlement will not be valid. I got out collection because of the lies and the way they wanted me to break laws to get payments. and if you question rep about her lying she will deny it and either hang up on you because she does not want to get sued or put you on hold and tell the person next to her to jump on the phone and act like her manager. Please understand that the collectors are able to dio this because there bosses allow. That is the collection business they are all jerks. My suggestion is to tell them you want the settlement and if they don't give you the numbers you want hang up on them and I gaurentee by the end of the month they will call you and tell you that they can give it too you all of a sudden. I know it is a lot of info but if you want the legal version of this click the link I included and everything I am telling you will be in the website somewhere. I hope this works for you don't let them harass you and lie to you. Contact me if you want more info. One more thing if you take the settlement then get a letter from them before you send them money very important!!!!
  • OK, looks like I get to correct a bunch of bad answers again. bdancer! Read the law! I'm tired of correcting you. It's 7 years, not 7 1/2 years. And Judgments only stay on for 7 years....bankruptcies are 10. OK, next.....STOP listening to collection agents! They are lying to you. Let me count the ways!!! 1) They can only list a debt on your reports once. The only person who can legally report this debt is the one with the right to collect it. Unless the collection agent purchased this debt, they can NOT list it again! Send the credit bureau a dispute letter regarding duplicate listings. 2) Once the debt is paid, all the creditor is required to do is show "paid" on your report, but all information about late payments, repo's, charge off's, and all that other nasty info will remain on your report. Your paying off the debt will have very little effect on your score. 3) The report of the judgment will not be deleted...it's public record and easily verified by the CRA. They will show it paid off (assuming the creditor files the proper "satisfaction of judgment" forms with the court. Your problem is since they have a judgment you have few options. If you fail to pay they may garnish your wages or pursue other collection avenues. The creditor knows this....but they still have to collect. If telling you a lie that they will fix your credit if you pay up will do the trick...they will say that! Basically, once a judgment has been issued your credit is shot. The creditor now holds all the cards and you have nothing to negotiate with. Sorry.
  • Negatives stay on your credit report 7-1/2 years from the date of delinquency. Judgments stay for 10 years. Payment does not restart the reporting clock. Nor does payment remove them. The older these items get the less impact they will have on your score. Of course, paid items look much better than open ones.
  • nicely, BBC, CBC, Pravda or perhaps el Jezeera have not picked up on it and there is not any information launch on the score organizations information superhighway website so i'd not trust what both of those 2 "information" substances declare.
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