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State California
Legal status
Allowed (Our partner lenders provide payments in California)
Loan amount limit  $255 if maximum fee charged ($300 maximum check)
Loan terms Max: 31 days
Finance rates 15% of check
Finance charges $17.65
Maximum APR (Annual percentage rate) 459%

11623 Cherry Avenue No. B4, Fontana, CA 92337

California

Fontana

1295 North Euclid Street, Fullerton, CA 92835

California

Fullerton

82227 Us Highway 111, Indio, CA 92201

California

Indio

1450 Olive Drive No. A, Bakersfield, CA 93308

California

Bakersfield

1460 7th Street No. A, Oakland, CA 94607

California

Oakland

1955 41st Avenue No. B8, Capitola, CA 95010

California

Capitola

3276 Adeline Street, Berkeley, CA 94703

California

Berkeley

100 North Raymond Avenue, Fullerton, CA 92831

California

Fullerton

134 W Base Line Road, Rialto, CA 92376

California

Rialto

836 N Santa Fe Avenue No. A, Vista, CA 92083

California

Vista


Frequently asked questions about california lender

  • I know a great lender in san jose. I just recently refinance and got a great rate, but i dont know what they can do with your situation. The company is called Funding Tree Inc. I would consider asking for Joe there. The phone number i have is 1.408.263.6167. I hope they will help you out alot. If you need further info on them, i can help you out. Just email me
  • Contact Ed at http://mercantilemortgage.comGood luck.
  • Not sure ... but u can try this http://www.cash-available.com/CaliforniaHardMoney
  • This site lists "Imploded Lenders": "Imploded" lenders: The "imploded" status is somewhat subjective and does not necessarily mean operations are ceased permanently: it can mean bankruptcy filing, temporary but open-ended halting of major operations, or a "firesale" acquisition. The Companies include all types (prime, subprime, or a mix of both; retail or wholesale; subsidiaries and entire companies). Note: Companies listed here may still be operating in some capacity; check with them before making assumptions. (Countrywide is a prime example, considered imploded but is still operating) http://ml-implode.com/
  • I do short sales for a living. If you need more time because the buyer needs more time to finance the deal, just call them for an extension and most likely they will give it to you. In California, lenders are allowed 3 extensions before they have to start the notice of trustee's sale again. Now if you need an extension because you have no buyer, then contact me and I will let you in on how to overcome that obstacle. Regards
  • Our house has lost nearly $200K in value over the last few years, and we are now upside down in our mortgage. Our mortgage payments are current, and our credit is fine, but we really want to move. Home repairs are piling and though our mortgage is current the house will not be in good shape for much longer. Our financial situation has changed and if the housing market hadn't done what it did, we would just sell the house and move someplace more affordable. Do we have any options other than to just walk away, leaving the bank with expensive proceedings and us with ruined credit?
  • In some states such as California, lenders have no recourse on a first mortgage and hence you can walk away and they cannnot come after you for any left over value on the loan iof the house sale does not bring in the full loan value. However, Several things must be kept in mind. If you have any type of loan other than a first mortgage you are in trouble. If you bought with an 80-20 loan the 20% is personally collectable. If you have any home equity loan, loc, or second mortgage they can come after you for the debt. You need a realtor that does lots of short sales and knows the process. Once you commit to walking away you stop payment and begin saving for the cost of a move and rental including security. You may have several months before you absolutely have to move. Hint - the bank will not talk short sale until you are well behind in payments. You will have ruined credit for at least 2 years and not so great credit for a few more. I am not being cruel here, but it was the price you paid for taking a gamble and in this case it didn't work out for you - I am sorry but I am also realistic. You can't expect to walk away and take no hit at all.
  • Ask the bank if you can do a short sale. If not if you walk away you will still owe anything above what they get for the house. If you can afford to get a loan to pay the shortage when you sell that might be the least expense. Not moving is the cheapest option.
  • purchase a house on your place city now. together as your credit is sturdy. Ask the financial business enterprise for a decreased own loan volume because of the fact the home is nicely worth a techniques decrease than you owe. whilst they redo the own loan you may hire it out or basically walk away....yet purchase first
  • Use the usual banks. But only expect them to lend about 1/2 the value.
  • Let me ask you this, would you give anybody any loan if they come to you saying I make an X amount of money but I can't prove it and I have not filed returns for the past 5 years Sorry, you are late to the table with stated income, you can't prove it, no one is going to lend you a mortgage loan today.
  • Look into the Fannie Mae (May?) Foundation and a company names Ameridream.
  • With the "crisis" in the mortgage industry, lenders have tightened their specifications to borrowers. Stated programs are a thing of the past. You may get lucky, but for a first timer, I doubt it.
  • EQUITY LOAN AND FINANCIAL SERVICES You have searched and searched for a financial assistance, you have been denied loan by bank because of non deposition of collateral. Equity Loan And Financial Services a certified private loan lender, our company offer loan with a very low interest rate of 5% per year in form of student,business, car, house, mortgages or any other financial assistance ranging from £1,000.00 to £5,000,000.00. Our loans are well insured for maximum security is our priority. You can contact us (equityloans.services@yahoo.gr) Every body is qualified to obtain a loan from our company. Yours faithfully, Equity Loan And Financial Services POSSIBLE LOAN OFFER
  • You will want to get a NIV (no income verification) loan that does not require a 4506T rather than a stated income loan that does require it.
  • in case you're engaged on a private loan the personal loan officer should have the ability to grant them. If not, bypass to IRS.GOV and fewer than loose kinds in simple terms order them. you could also get the loose kinds order volume less than IRS on your yellow pages and talk to in an order. it really is a request for a duplicate of a tax go back; you specify the year. you ought to ask the personal loan officer if the reproduction of your tax go back you've on your possession should be ok? it may well be plenty speedier for one component.
  • fannie mae rules.....if you put 5% or less as a down payment then it's only 3%. If you put 10% they can put 6% closing costs. if you put 20%..then can put 9%. government programs will allow the seller to give 6% with zero down
  • Different loan programs have different rules. It is their money so they make the rules. Having the seller pay the closing costs usually inflates the contract price and increases the loan amount.
  • to avoid fraud. you see if the lender allows unlimited closing costs, then the potential for fraud increases. closing costs could be inflated to have the home appear to be worth more than the it is. or broker fraud, like the broker charging excessive points to capture additional money.
  • This sounds more like advertising rather than a question, take your shady business elsewhere.
  • THAT IS A SCAM SITE. DO NOT SEND THEM ANY OF YOUR INFORMATION.
  • Why would you want a RAL (Refund Anticipation LOAN) instead of E-filing your return yourself and selecting direct deposit to your bank account? Check out the Free efile program at www.irs.gov/efile If you efile and select direct deposit you will get your refund in about 3-7 days. If you choose to do a RAL and there is a problem with your return, which in turn delays your refund, the lender will begin to charge interest at a large interest rate until you repay the loan.
  • Check with your tax preparer. But if you properly fill out a W-4 form to have the correct amount withheld, you would not be asking this question or considering an expensive RAL, you would have a slightly larger paycheck throughout the year instead. Or if you e-file with direct deposit you could have your money within 2-3 weeks anyway. But from California your are just going to get an IOU anyway, because the state is out of money and has not even worked out a budget since they should have in July. Your water and electricity is going to be rationed, the earth moves, and the sky is falling (just ashes really).
  • When we purchased our house 1 1/2 years ago the seller was trying to get a lot line adjust. When the deal was going to fall through they pulled out of the adjust and asked if we would continue to try. Thinking it was only going to be a couple more weeks we agreed as long as our bank agreed. Now 1 1/2 years later the sellers want us to go to mediation because they don't want us to get our lender's approval. They think we should sign documentation just giving the property to the 5/8 of an acre.
  • You need the lenders approval as you are effecting the deed. You would be in violation of your mortgage agreement to alter the deed in any way.
  • yes, sir!!! God Bless California! see:http://www.stimmel-law.com/articles/CA_AntiDeficiency_Statue_ProtHomeOwnMonJudge.html
  • Your good.
  • As far as I know, i think Alpine Mortgage do. Check out the website: http://www.alpinebanker.com/foreignnationalmortgage.html
  • I think you are going to actually have to call a California lawyer on this one. The issue here is not as cut and dry as it is on a foreclosure since the short sale contract would have to specify that the short sale covers the entire debt owed. Typically it does, but if not you would leave yourself open to being sued for the remaining unpaid balance.
  • The collection is from a car I had reposed in 2003. The debt from the bank "HSBC" shows as being charged off. However This credit collection agency "Pinnacle credit services" is trying to collect on this, However I have never received any notice of this either by mail, or phone. Now I'm being told I cant buy a house due to this. So my question is what is the Statue of Limitations in Ca.for debt? and How do I go about getting this removed from my credit report.
  • As a former mortgage broker, I can tell you that a large percentage of credit reports have less-than-legal collections reported on them. It is very common for collectors to illegally post things to your credit as well as arrange to get default judgements on clients that were never served. The courts know this happens but always look the other way. You have admitted that the debt is yours and if you are in a position to pay off the debt, call them and offer to settle. DO NOT let them know that you are attempting to buy a house (or refi) or they will be less likely to settle. Do NOT have a mortgage broker contact them. If you can settle, or just pay it off, have them fax you a receipt showing paid in full with the full account number on it. A broker can use that receipt to override the credit report. You can also arrange to have it paid at closing (if you have cash). If you can't pay the debt, many banks will overlook the collection if it is more than 5 years old - especially if it's a small amount. You can try to dispute the item, but the problem is that it is a legitimate debt. The easiest thing to do is stand up and settle. In the long run it will be better for your credit and your conscience. AND if you're a first time home buyer, the $8000 tax credit should more than offset the collection debt. Best of luck!
  • As long as Pinnacle reports this as being open each month, it will continue to affect you score and will continue to remain on your credit. how much do you owe? You may be able to talk to them and negotiate a partial payment as payment in full, but do not pay it... if you do your score will drop drastically and you will not qualify for the loan. Get the negotiated amount, and if it is something you can pay, continue with your home loan and state on the application that this dept will be paid at closing. Title will need to send the payment so that they know it was paid, they will also need a letter from Pinnacle agreeing to that payment as payment in full. This gets the collection off your record and you into a home. Yes, your credit will still be affected, but you will already have your home and your credit will come back in a couple of months. If your lender is unwilling to do it this way, and you are fully qualified otherwise, please contact me and I will get this loan closed for you quickly. http://www.mynewkeys.com
  • You can call "Pinnacle credit services" and ask them why you never got a notice from them then you can work out a plan to pay off that loan. Usually they will allow a "settlement" payment which is a lot less for what you owe them. Once you pay them off, it usually takes 60-90 days for it to show on your credit report that you don't owe them anymore.
  • If you paid HSBC directly a lot of times the update never gets to the credit service companies. If you have a receipt or if you can call HSBC and have them update their files to the credit service companies that might help. Other times, credit service companies are trying to scam you out of your hard earned cash. Beware of that. And feel free to shop around for a mortgage, other lenders will be more then happy to help.
  • You can't get it removed from your credit report. It will have to age it's way off - both the repo/chargeoff and the debt now owned by the collection agency. Even if the debt is beyond the S.O.L., that doesn't wipe your credit record clean.
  • High loan to value manufactured home lenders are hard to find these days. With a good credit score, you might be able to pull it off. If you're a member of a credit union , try there. Good luck.
  • Cal Worthington ?? http://www.mytrailerpark.com/
  • I have a weekly real estate / mortgage radio show in california and we are covering this topic next week on the show. First question is do you own the land it is on? Either way there are banks out there that deal with both. I can help you and get you going in the right direction. I would also recomend you listen to the show, you will learn a lot and we are trying to get an account excecutive on the show from one of those banks. Let me know if there is anything I can do for you! The dave and J Show www.daveandj.com
  • The problem is that many of the modular homes are not that savy to investors. So they have dumped most of there products. Mid west still has many of these loans are open to lending on. If you need assistance I can get you a couple of lenders who are wholesale. You may check out some of the big banks and see if they still offer lending on your property. If you still need my assistance please ask. Happy Living! Btw dont go hard money. Some jerk will probably try to put you in one.
  • Any lender should...if you qualify? Standard limit is 9 usually. I see another answer here that does 10.
  • My company allows up to 10 properties financed...primary, secondary/vacation and up to 8 others including rental units. I work for the "big" bank and we do lots of loans in CA.
  • Both comments above are accurate....If you need more information regarding this type of information you should really contact www.housingassist.com......888-877-0078.... to speak to Aram, he is a fantastic specilaist who has helped me greatly.
  • No. No lender will consider such an arrangement. The chances for lender fraud are just too high. You will need to seek an unrelated buyer for the property.
  • No You need an "arms length" transaction, meaning no relative can buy your place.
  • So. Cal Auction only!!! Was wondering if any of you actually won at the auction and now currently own the property? Sold either by REDC (ushomeauction.com) /Hudson and Marshall are the two i'm curious about. I've heard many different stories. 1) I hear that most of the auctioned homes don't even goto the highest bidder, most of them are being sold after the auction either by soliciation or Realtor (MLS listing). 2)Will it be worth while to try to purchase at one of the auctions? 5% commision on top of the highest bid and performing home inspection ($400-$700/home) on day of open house if the home is vacant. You might not even win!!!! 3) What's you experience? 4) Are LENDERS willing to negotiate? (35%-50% below market value?) 5) Have any of you purchased a home in the past few months? How much below market value (%) were you able to buy your home for? 6) or for those of you waiting. How much below market(%) are you going to wait before purchasing a home in So. California?
  • Its not worth going to. The buddies of the auctioneer always end up getting the bid. Its rigged and the common people don't get included.
  • I am not sure what Ed is talking about. You can not access someones loan docs online. The county tax assessor has the information. I have access to most of northern CA. I am willing to look something up for you real quick. I need the county and either the address or the owners name.
  • Take the property address to the County Tax Assessor's office (they might be online). That will give you the correct spelling of the owner's name. Take that name to the County Recorder's Office (maybe online) and it will give you a list of all mortgages owed by the owner. The mailing information may be in the recorded document since it has to have the entire mortgage-even if it's 20 pages. If not, you can get the mailing address at www.SWITCHBOARD.com or the State Banking Dept..
  • yes but only if you have real estate equity. and they aren't cheap. high interest rates.
  • hi, sometimes you get good links off these sites http://finance.ebookorama.com/http://credit-cards.ebookorama.com/
  • They already gave you 60-90 days since you last made a payment to do that. At some point, your opportunity to negotiate ends and they stop playing games with deadbeats.
  • With the way that all loans seem a challenge to get approved in this econonmy. The web places are easy to check and sometimes have easier approval sometimes. I suggest http://auto.deal4-you.com
  • I doubt it. Besides, read your contract that you signed...the terms of default will state your rights here.
  • Contact your county Veterans Service Officer. They will have a list of banks currently making VA loans in your county.
  • Try this site www.vahomeloanhelp.org
  • thay will sell it at the auction if it sells below what you payoff is thay will bill you the rest if you dont pay that court will decide
  • That could happen. The lender will repo your car, sell it at an auction, and if they don't get the amount you owe, they will bill you for the difference...and can garnish your wages if not paid. If you don't owe that much, they will probably get more than what you owe, and it is all theirs!! You won't get any refund...but you will get a very bad credit rating in the process. Is it worth all that??
  • what they will actually do is sell it at auction or to another dealer,and if there's any difference left they,ll bill you for it,or put it against your credit as bad unpaid debt,you,ll put the screws to your self if you choose to let them re-po it id try and sell it or anything before i let them re-po it,good luck i hope this help,s.
  • maybe depending on the price of the car if its like 20,000 or more they probably will seek a court judgement against you.
  • Yes. But that would be the least of your worries. It would also ruin your credit rating.
  • on brokeroutpost or brokeruniverse
  • I hate to declare it yet i think of your caught. it isn't the ltv or fico that is hurting you, that's the internal maximum loan quantity, the utmost fha will go there is 714k or something like that. Do you have fha get admission to available? consult from a number of your ae's in case you havn't already, yet that's a hard one, sorry I couldnt help greater
  • My shop does a lot of business with Plaza Home Mortgage. They are a San Diego Based company but we work with their Newport Beach Branch. They have tons of programs; great pricing on conforming fixed and arms. They have Jumbo, Option Arms, HELOC's which stand behind neg-am products etc... We use them a lot as they are responsive, fairly quick and pretty fair. The branch number is 949-910-1055, ask for Loraine (branch manager) and she should be able to get a rep out to you or on the phone with you quickly. Good Luck Kevin 866-562-6838 x 106 www.firstratelending.com
  • I am looking for a class action attorney who is willing to represent the countless agents in California who have worked diligently on “short sale listings” only to have the bank foreclose on the property and give the listing to an REO broker offering them more commission and refusing compensation for time and money spent on Utilities, cleaning and preparing the properties etc… E mail me if you would like more detail on the unfair, unethical, and scandalous business practices of almost all of the major banks. The list is long.
  • Good luck with the idea, seeing how real agents are fully aware of the pit falls involved with a short sale and as such knowingly enter into a business relationship with expenditures that may not bear fruit the majority of times
  • i do please email johng@oldmerchants.com
  • Which part of California are you located.
  • We're a 4 story, 100 unit , 4 1/2 year old complex. We are currently in litigation with the developer because of building defects. Several owners would like to refinance thier ARM, or refinance their 30yr fixed to take advantage of today's low rates. Because we are in litigation, the large banks..Wells Fargo, BofA, etc..won't touch any of the units in complex. Are there any lenders who are willing to work with us? Anyone else have any luck with a lendor? Thank you!
  • Put an add up or just network with different people. I can't help but good luck. I dontthink yahoo answers will help you:
  • I doubt she would win this. Especially considering the lawduit itself is fraud, as you state, she knew what she was signing. She would have to prove complete BS to win. She just found an attorney that would take her money.
  • no since she signed every page and was given the opportunity to ask questions I doubt that she will or can win. How was she defrauded in the first place?
  • Hello, What is the ltv on the property? What documentation type? Can u verify assets? Can you put about 20-30% down? How many units are in the subject property? What are the rent rolls(if any)? Do you have stable employement and can document a paper trail? If you can answer these questions realistically, can do the deal!
  • whats the LTV, whats the documentation type? By the way with a 564 fico non owner dont even waste your time with this person!!! Dont get mad im only being real P.S learn to spell
  • WAMU, COUNTRYWIDE, Pretty much all of the big boys, Assuming you have at least 5% down and a credit score higher than 680.
  • Yes. Willfully concealing a vehicle from the repo man is a crime. Richard
  • you have a car under loan and the lender wants the car back and if you are not willing to give the car back wouldn't you say this is some kind of crime? I urge you to comply sure the state is broke and they are letting people out of jails but you have your record to worry about and this would surly be considered a felony since the value of the car is so great. Just turn in the car so you can vote in the future and when you apply for a job you do not have to ever say you are a convicted felon
  • It actually has nothing to do with the lender per say. The ratios will be decided by the AUS or automated underwriting system. If you have higher credit scores and maybe more in reserves or for a down payment this will offset the risk of higher ratios. I have seen FHA loans approved with ratios as high as 54%.
  • I have a freind with a loan through a commercial lender in the amount of 300k that had a pre-pay of 108,000 if paid off within 3 years. He is now selling the property and he has a 68,000 pre-payment penalty. My question: Is there a limit a COMMERCIAL lender can charge on a Pre-Payment Fee. such as in residential its capped at 3% of the loan, but does commercial have a cap?
  • Sorry. No. Same here. Typicall to have a 3% PPP first year, 2% PPP second year & then 1% PPP the third year. They do that to get you a slightly lower interest rate when you take out the loan.
  • I've never heard of any lender doing this but it couldn't hurt to ask them. They might surprise you and agree. I've had a lender swap a car on my loan for another one so you never know.
  • No. Lenders do not want to exchange properties. They want to sell them and be rid of them. They have no interest in changing one REO for another.
  • Not likely.
  • Sure you can. Just as long as you and the other party agree on all the terms.
  • One, it's not illegal for them to quote you policy. I seriously doubt that the lender TOLD YOU to miss a payment. I believe that the lender probably told you that they ONLY help those who are missing payments before discussing options. That is a big difference. You won't find a law like that because it doesn't exist. A bank isn't required BY ANY law to work with you on a loan modification or short sale...whether you skip payments or not. You signed a note at closing...you are in default if you don't pay as you agreed to in writing...anything more the bank offers you is a FAVOR.
  • No. You have to sell it and pay off your loan. Lenders don't want houses. They want the money you owe them.
  • Yes, you may be able to give your lender a deed in ieu of foreclosure but if you choose to do so it will be at the cost of your good credit record. Lenders report a deed in lieu just as they would a foreclosure. It will negatively impact your credit for years. I would recommend you either secure a new tenant or sell it prior to condiering a deed in lieu.
  • Yes, if they'll accept it & release you from the mortgage. Few lenders will; but it doesn't hurt to ask.
  • No, they are not returnable. Email me, I may be able to help you with a renter. I rent over 20 houses in CA. dutchshepherds@yahoo.com
  • That of course all depends under what laws and regulations you want to establish your loan company. But here are some websites to get you started: http://www.ehow.com/how_4857193_start-lo...http://www.ehow.com/facts_5164881_consum...http://www.startupcompanylawyer.com/2008...http://www.corp.ca.gov/FSD/licensees/default.asp http://www.dfi.ca.gov/licensees/premium/ http://www.filingsusa.com/CA/california.htm
  • You might be in the mortgage business from your references N/O/O.. However, you didn't say if it was cash out, or Rate/term refinance.. Or whether it is full doc or stated doc. Also you say under 500k, but is it over 417k? Is is a single family residence or multi family residence? Many Lenders can do this, but I can't tell you the best program and/or lender without knowing the additonal information I just mentioned above :-)
  • I have lenders that can do 100% non owner just email me and might let you know!!!!!!
  • I can definitely help you out. Prequalify online at www.lvloanstore.com or shoot me an email with your contact info and we can talk.
  • Yes, if the lender opts to use the "judicial" foreclosure process. If the amount you owe is significantly more than the property would sell for at auction, the lender may opt for the judicial foreclosure process in order to get a deficiency judgment. http://www.foreclosurelaw.org/California...
  • If you own property in CA on which there is a mortgage and you don't make the scheduled mortgage payments you can
  • the lender is not holding your security deposit, the former owner is. if you don't get your security deposit back, sue the former landlord.
  • No. You now havfe sixty days notice to vacate, but your security deposit is the responsibility of your previous landlord. The bank is not required to assume that issue. You will need to sue the former owner in small claims court to get the deposit back, if it is not returned willingly.
  • yes, they are still required to give you a 60 day notice to vacate.
  • No - separate matter - what if you left the place a pit
  • The moratorium began Feb 24 and was to last 90 days. That means this time period should have elapsed and any homes still on the brink of foreclosure may end up on the market if other arrangements haven't been made with homeowners' lenders. http://pubcit.typepad.com/clpblog/2009/0...
  • It ended 2 weeks ago. Banks are now issuing trustee sales as 4 of my 12 short sales just got notices recently after having notice of defaults filed last year). It will be interesting to see how this will impact the market. For the last 2 months we have been seeing a stabilization in the market in Orange County, CA. Actually in some areas, prices have increased (such as Irvine). There is also rumor that banks have been holding onto to thier inventory as well.
  • My mother in law owns a home in California she purchased the home in 2000 over the last 13 yrs her life has gone down hill from losing her family company and being unemployed for a year to foreclosure she saved her house from being sold in an action and now is facing the bank raising her mortgage up to $5000 a month which even with our help is impossible shes been denied assistance with almost every program even a modification what can we do?? Please any legal help is very much appreciated.
  • $5,000 a month is the payment on an $800,000 mortgage. One would need an income of about $250,000 a year to afford that. Did your mother take out one of those Countrywide option-pay mortgages? The government doesn't give free money to help pay the mortgage. Your mother-in-law might qualify for the HAMP or HARP programs. Ask your lender for information.
  • More information is needed to answer a questions of this magnitude "legal help" unfortunately will not help being everything the bank is doing is legal (unfortunate and unmoral) but legal nonetheless. Has your mom tried looking into a Streamline refinance we offer them to people who has lost their job,had a decrease in income e.t.c obviously at some point she stop paying mortgage the length of time of no payments will be a factor also her credit score is a factor in which we go as low as 620. Talk to an experienced loan officer to see if there are any options that could help. Good luck!
  • What were the reasons for decline? That would be a good place to start, also you might consider escalating your case to a government agency such as OCC, CFPB, local AG office, or Congressional office, this will trigger the executive team of your servicer to take a look at the situation. Not only that but then the servicer will need to respond to the agency in writting with a summary of what's occurred, and what they did to resolve it so you can make sure your case is being worked correctly.
  • My broker has told me that it now takes longer to order the appraisal (6days) because of some new rule or act. We are cutting it close and may not have our appraisal back within 17 days. He's suggesting my agent ask for an extension in order for us to get the appraisal complete. I'm also a little worried because there may be an illegal addition off the kitchen, which basically is about 150 sq. ft of eating area. I in no way want to risk losing my money should this appraisal get screwy as this house already fell out of escrow once, for unknown reasons. Is it common to get ask for extensions like this? Is it common that they grant extensions? P.S. this property is being sold by an investement company.
  • Was your purchase contingent upon the appraisal? In California all contingencies must be actively discharged. Other words, you must cancel the contingency in writing. If you do not get the appraisal within the 17 days the seller can give you notice (notice to perform) stating that he may cancel the escrow within five days if you do not remove that contingency. In reality that gives you an additional five days, but I would ask for an extention a couple of days prior to the expiration date. Never release a contingency for an appraisal or financing until you know for certain that you have a loan approval and the property does in fact appraise for the selling price. A big problem in today's RE market that often an appraisal comes in at the sales price but the lender then requires another appraisal.
  • Yes, there are new rules in place about disclosure being sent and received prior to ordering an appraisal. In addition, appraisal are now being required to be ordered thru appraisal managment companies. This is to eliminate the originator from influencing the value from the appraiser. I recommend asking for the extension immediately. It is always best to let the other side know of any potential delays. Extensions are very common in the industry right now.
  • http://www.dmv.ca.gov/about/lob/lob_top....Here is a list of financial institutions that have been bought out. It's mainly California, but some are nationwide. If this doesn't help, then go to Michigans dmv website and they may have the same thing. http://www.michigan.gov/sos/0,1607,7-127...
  • I would call the (DMV) dept of motor vehicles, and ask. Or try calling a bank your are now using, or any bank, to see what they would say. That is a tuff question with out more info like did you keep making payments to them After they folded? (that would not be good for you then) If not them then what bank were you paying then if they went out of business and the car was not paid off yet? Call them, they would have it. I hope this helps some but it is all I can do with the info you gave me. Good Luck.
  • visit the secretary of state.
  • You'd only get a 1099 if the lender foreclosed on the loan and forgave the outstanding balance. Most mortgages in CA are non-recourse mortgages so that would be unusual unless your loan was a re-fi or an equity loan. A 1099-C is not a "tax refund" but represents taxable INCOME that you must pay taxes on.
  • you will receive a 1098 on the mortgage interest you paid in 2009
  • You'll get a 1098 so you can claim the interest you paid during the year.
  • You, through your escrow account, are obligated to continue to pay property taxes up until the time you no longer own the house. So, yes, not only can the lender take money from the escrow account to pay taxes, they most certainly will take the money when the bill comes in (since it is your obligation, they do not want to get stuck paying it after they foreclose).
  • no. they must go to the court to do that
  • I am currently homeless (well, staying with friends, dont know for how long). My State ID is expired and I was wondering if I will be able to renew it. Can I use a PO Box or would I need a residential address? Also, I cant seem to find my expired ID. Would I need it to renew? They should have all my information already right (Birth Cert. etc.). Anyone know anything that could possibly help???
  • Yeah if you ever want to better yourself you must leave the state of California! Reason, Unjustifiable property values! Nobodies incomes compensate the cost its a rip! the only winners are title companies,real estate manipulators,mortgage lenders and whoever else can position themselves to take advantage of the commoner being outrageously fleeced! Boredprevert! No i tell the truth for example i make my monthly morgage payment "home not paid for or owned until paid off etc. You may live in some home not paid for with someone elses name on the mortgage! Their a few actual homeowners and mega liars pretending something else especially in lala-land!
  • Most definitely. I have my P.O. Box on mine. I use this (PO Box)for everything sensitive; taxes, bank accounts, etc. Your information is all on the DMV computer (even your picture) so you shouldn't need your old one. Last time I renewed my DL, I did it on their web site and they sent me a new one with the old picture on it. Edit: Looks like someone is jealous of those of us who are successful. (Home owner, Los Angeles)
  • Excellent Question! There are several ideas to consider when relocating a business from one state to another. Generally speaking, each state has its own laws and by-laws delegating what constitutes doing business, how a businesses from another state qualifies as a foreign corporation, etc... If you have been in business for several years, you may consider paying the fees associated as a foreign corporation so as not to lose your credibility with current lenders, suppliers, and other strategic partners. If you're a startup, then it may serve in your financial interest to start over depending on the Secretary of State fees for California (www.sos.ca.gov). Ask yourself, Will this be a permanent move? What goals do I have for my company? Which state offers the most in assisting me to obtain these goals i.e. tax breaks, grants, free workshops and seminars? Questions similar to these and others, should assist you in navigating the plethora of options States are providing to attract new or retain old businesses. Keep Pushing, Success is Within Your Grasp
  • I work for a lending company but I'm in California we do do loans in all 50 states . But if your looking for a Leander close by to you try asking around to friends or family that have home..
  • Deutshe Bank Home Lending recently bought a California based lender (Chapel Funding) and then went through some restructuring. Their current North Carolina office is at: 5625 Dillard Drive, Suite 210 Cary, NC 27518 Phone: 866-829-2478 There are also some corporate banking branches in NC, but not near Raleigh. 227 West Trade Street Suite 2060 Charlotte, NC 28202 Phone: (704) 632-3000 200 West Second Street, Suite 500 Winston-Salem, NC 27101 Phone: (336) 724 6921 Hope this helps!
  • I can't find it either. Are you sure they are still in town?
  • Mortgage lenders do not give loans for undeveloped property anywhere in the USA You would have to find another means of financing the purchase of agricultural land. A home you just apply to a lender for a mortgage
  • An example of a multi-family home would be a duplex, which is a house that is divided into two homes. One family could be living in the upstairs part, with another taking the lower level. Both levels have the necessary aspects of a home such as a kitchen, bathroom, bedrooms, etc and have its own main entrance. Condos are also considered multi-family homes as one building contains multiple homes. Each family would the portion of the home that is theirs, with the common areas owned by all or the property manager. Usually an association fee is included for mutli-family homes to covers the costs of maintaining the exterior and common areas (lawn, parking lots, etc). A single family home would be your traditional house.
  • All lender fees, absolutely. Plus any and all inspection fees. Possibly seismic retrofit costs.
  • If the identify company won't be able to grant you a identify insurance insurance you will not have the skill to close the escrow. you are able to sue the broking of the valuables for all your loses and document a "lis pendens" against the valuables. With a "lis pendens" filed against the valuables the owner won't be able to sell the valuables till the lawsuit is resolved.
  • Inspection costs, mortgage fees, registration fees Yes you pay lenders fees that is the cost of obtaining your mortgage
  • You will get a good faith estimate that lists what you will need to pay to close.
  • Real estate agents have NOTHING to do with refinancing a loan. NO ONE hires a Realtor to do anything with a refi. Two TOTALLY separate professions.
  • Yes, why wouldn't you be able to. A Real Estate agent has nothing to do with the financing side.
  • of course but if that is your MAIN task, you are wasting your time. AS another YA answered said, you do not need a license to do this for your own home..........but if you wish to, fine and you need to inform your broker of same. And yes, if a commisssion is available when you re-fi, and if you satisfy Califs mortgage broker/agents rules-laws, you may qualify to get it! congrats. you should drop the word representative, just call your self a sales person unless CA calls a licensee a sales rep. ]funny law, a broker is legally an agent, a sales agent is a sales person] but in our culture we call them broker and agent congrats to you
  • To refinance your own home you can just do it without a license just call your lender and arrange it You will need a mortgage license if you help with mortgage activities other then yourself
  • hi. relies upon on the settlement. in case you signed up with them, they in lots of situations have a collection quantity of time to sell the residing house. in the event that they only listed it for you and are not the merchandising agent, (in lots of situations disclosed at time of contract), then you definately might desire to, yet you could desire to nonetheless pay the itemizing expenses. i could verify your settlement then touch the agent and tell him/her your difficulty and perhaps they might convey down the cost considering the fact which you found the customer.... as quickly as we offered a construction, we had a chum who replaced right into a actual factors agent and because we had already found the construction, we had him do the paperwork and negotiated the cost.
  • Is this for a purchase or a refinance? On a Purchase: Cost associated with your loan. You will need to pay for the appraisal up front (when it being done). You will need to pay for The Home Owners Insurance Coverage for 1 YEAR . The seller can help you with up to 6 percent of closing cost on FHA, and up to 3 % on a Conventional loan. So the title fee, lender fees, underwriting fees, broker fee, processing fee, flood cert, etc can be paid for by the seller On a Refinance: Cost associated with your loan. You will need to pay for the appraisal up front, You will need to pay 6months of The Home Owners Insurance Coverage . You wlll have title fee, lender fees, underwriting fees, broker fee, processing fee, flood cert, etc , Yes, it can be negotiated. Talk with your Loan Officer, He can make pts in the rate and not charge 1 point upfornt on the GFE (Good Faith Estimate). Good Luck to you. Wanda
  • As long as the property appraises out and you put up a decent down payment (20-30%), you shouldn't have trouble. Do you have a banking relationship with CitiBank or HSBC or any other bank abroad that does business here? If so, that is where I'd start, as they can vouch for your credit and financial standing.
  • How much time do I have left to vacate property in California? Wells Fargo Foreclosure Sale date Jan 19, 2011? Wells Fargo sold my home yesterday with a Foreclosure Sale date of Jan 19, 2011. Wells Fargo themselves bought this home. How much time is left for me to vacate the property now? Per Wells Fargo, the Sheriff's office will send me an eviction letter. I had bought this home in the Bay Area, CA in Jan 2007; past 18 months I was being considered for the HAMP program until yesterday Wells Fargo suddenly 'inactivated' my file from the Loss mitigation dept & sold my home. Please advice of any options that I have...I`m so lost..
  • 30 to 90 days. Varies by lender. You will receive an official vacate order
  • you do no longer immediately get 6 months to bypass. you will possibly be able to desire to be out whilst the sheriff shows as much as do away with you. in case you wait till then then you ought to not be allowed to take any of your private domicile. you will in straightforward terms be allowed to take cloths and meds. you will possibly be able to desire to come across a place and pass as quickly as possible. do no longer wait till ultimately the final minute!!!
  • We rent a townhouse in california from month to month. At the beginning of august we got a "Notice of Trustee's Sale" which informed us that the house gets auctioned off on August 28th. On August 25th, we got informed by our landlord, that he terminates the rental agreement and that we have to move out on September 30th the latest. He asked us to still send him rent for the month of September. We contacted the lender service after August 28th and were informed that nobody bid on the property and that as a result the bank now owns the property. My questions regarding this matter are as follows: Is the termination of the rental agreement by our landlord valid, and we have to move by September 30th? (we were told by legal aid that he won't have the legal power to make us leave because he is not the owner anymore, and that we got at least 60 days to leave... not sure if this is correct). Do we have to pay still rent to him even though the property doesn't belong to him anymore? Confronting him about this, his answer was that he has an agreement with the bank that he can't further disclose that allows him to stay till Sep 30th and therefore he can collect rent from us. Seems very fishy to us... We believe that we have to pay rent to the bank, but some insight here would be helpful... Any help is appreciated.... thanks...
  • I'm sure the name of the bank was either posted on the property or was on the notice of trustee sale. Call them and find out who you should be paying rent to. They may continue to let you rent the property from them until they can sell it. Many times homes go unsold for a year or more. Get all promises or authorizations in writing.
  • The bank simply agrees to take a smaller amount for the balance owed, there is no one to pay the difference. The bank will sell the property and make back as much of the money as it can. Short sale simply means they accept a lower amount of money to wipe out the debt.
  • The lender will do everything they can to get the difference from the owner, but if they cannot (the owner doesn't have the money or anything of value) the bank will "eat" it, but still keep their eye on this owner for years and years and get him the moment he has something of value.
  • you will desire to verify with the escrow organization. each state's rules variety, however the basics stay the comparable usa huge. once you went in to sign the perfect ultimate papers, the escrow would desire to have given you a supplier's stability sheet. On it you will discover how plenty the homestead offered, who replaced into owed what and how plenty they have been paid, to boot simply by fact the steadiness due you (or which you owe). If the escrow organization does not provide you a stability sheet, and/or they do no longer clarify it to you, i'd actually touch a land use felony expert....
  • You can rest assured there is no way the lender will take a loss.
  • The owner has to pay the different. Every penny.
  • if you don't get enough money to pay for the mortgage that's your prob
  • The answer is: "What is a foreclosure?"
  • No lender will talk to you unless you provide them with a valid business plan. Go to http://www.sba.gov , http://www.score.org or http://www.bplan.com for sample business plans and instructions on how to write a business plan. Then, go to http://www.score.org/ and in the upper left hand corner, enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a SCORE counselor to review your business plan and discuss various loan options available to you. SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA). SCORE has 389 chapters in locations throughout the United States and its territories, with 10,500 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors.
  • I'm in SoCal and my neighbor just added a master bedroom and full bath as a second story on his previously 1 story home. It cost him $150,000, but he went with a full spa bathroom, marble, up-graded fixtures, a frameless shower enclosure and his master bedroom has a fireplace and a little sitting area. A lot has to do with the total square footage added and the bells and whistles you want to incorperate into the project.
  • it all depends on size and what you will put in it....are you going to get crazy and fancy? or more simple? it may be more cost effective to have a contractor build the structure but you finish it off you could put up the trim, paint, install toilet , shower, sink, etc that would save you tons of money
  • you know the artist gheary was in the same dilemma you are in, he had not that much money but wanted to add to his home in California, he used cheap material such as cardboard that he laminated and used it for his home, also used fences, and metal scraps,.
  • I know peole that have walked away from their mortgage. They purchased other propetry to live in with that second mortgage. They bragg about the cars and property they got. However, what are they liable for? I have always paid my mortgage on time until paid off. I guess I do not understand this new mindset. Does not seem fair. Maybe I just do not understand this.
  • They probably did a "wrap" with the second. What that means is they put both properties up as security for the loan. When they defaulted on the first, they probably continued to pay the second. The lender on the second is still secured by the second property and really doesn't care about the other property. As long as they get paid, it's not their problem. The property they walked away from will go back to the bank or be sold to someone at auction. The borrower will not have to pay any deficiency in California. So they don't care about that either.
  • They probably got the second one before filing bankruptcy.
  • I just went through foreclosure in california. can collection agents call even if im protected by anti-deficiency law? I keep getting calls from around 5 diferent collection agencies. Is there anything i can do? are they aloud to call? can i still be sued be the lender? any help would be greatly appreciated. I've seen yahoo users answers in past and you guys are actually pretty smart. Thanks, J-man
  • You went into foreclosure. Your old home will be auctioned off. If it sells for less than your outstanding balance collectors can try to collect the remaining balance. If they didnt get to sell at all then you still owe the whole thing. Try bankruptcy.
  • Although your first mortgage may have foreclosed you may still be responsible for payments to any junior lien holders. Although their liens may have been extinguished by the foreclosure their notes are still collectible.
  • So you go to a house auction and there is a 5% downpayment. and it needs to be paid with a certified check or money order. But you dont know how much you are going to get the house for. So you dont know how mucht o make out the certified check or money order for. Lets say the house starts at 10 thousand. you can either get it for 15. wich will be 750, or for 20 thousand wich is a thousand dollars. how much should your check be for? and if it is more then what you need do they give you some money back? it doesnt make any sense. its like the egg before the chicken thing.
  • In a foreclosure sale which it appears what you're making reference to (maybe a tax sale), certified funds are required. In California, a lender's guarantee won't be sufficient, so cashier's check or another form of certified funds are required. You research the property and come up with a number that you're willing to pay. Depending upon your resources, you draw additional cashier's checks (or money orders) for varying increments (e.g. $500, $1000, $5000,...etc.). No refunds will be issued at these auctions and you will not be permitted to leave the premises to get more money. If you bid higher than the certified monies you have on hand, you will lose up to 10% of your final "winning" bid and the property. So, take plenty of certified funds (checks), do your research, and know what the maximum amount you're willing to pay.
  • There's a better alternative to both regardless of where you are located. It works like this... You have a $350,000 mortgage, broker opinion determines that the property is worth only $245,000 in the current market. Tom note buyer offers $130,000 for the note. w/Conditions Attached If his bid is accepted, Tom Note buyer becomes the owner of the mortgage. He then contacts you the homeowner and offers to cut the principal if you want to stay in the home or pays you for the deed and resales it. And yes...it is very legal! It's not a new process.This way usually works best if you are already behind or seriously delinquent. It's what makes the lenders want to deal. I guess you could say it's been sort of a secret although it's not secret. This way moves pretty fast compared to all the flusterclucking that goes with short sale, foreclosure, bankruptcy,etc. options. Clients usually end up free of the property, no liability to the foreclosing lender and none of the foreclosure associated tax situations. At best, client may actually walk away with money in their pocket. It's not unheard of. I am affiliated with a group(I'm in Texas, but we function nationally) that utilizes this method and has helped others with very similar situations. As I wrote previously, this method could eliminate you dealing with the foreclosure process altogether, along with any of the negative credit marks, deficiency judgment and tax issues associated with foreclosure. Oh yeah,it's a free process at that. Yep, No charge to the client! I can't really speak for them rather or not they can help you but just go to http://www.stopforeclosure-tx.com/foreclosure-help/ and complete the contact information. Warmest Regards...
  • Well I'm sure alot of folks aren't sure. Some of these names are relatively new. Unless they are involved in a situation that might involve one of these situations, then no, the general public doesn't need to know. However, it would behoove most to at least know the difference between them and there is a ton of information online for those seeking an education.
  • the short sale is better all the way around if you can get one done. Check on the recourse alws in your state as to better understand the tax burden you may face
  • I have read all the websites including the California DMV site and cannot find an answer to the following: I am trying to sell my car, but the Certificate of Title is held by the lienholder for my car loan. When I pay off my car loan, can I have the title sent directly to the buyer so they can submit it to the DMV to transfer ownership, or do I need to have it sent to me for me to sign, and then I send it to the buyer? I am unsure whether the lienholder signature is enough, or if I need to sign it as well.
  • “Any change of the registered owner or lienholder (legal owner) of a vehicle or vessel is considered to be a change in ownership that must be updated on the records at the Department of Motor Vehicles (DMV)…” If I understand your question right, you wish to do both, remove the lienholder and release yourself as the registered owner. The hard part is that the lienholder will not surrender the title before receiving payment and the buyer will not surrender payment before you sign the title. Either both you and the buyer need to make a trip down to the lender or you need to work out an honor system. */End of Line.
  • No, the title will be sent to you ONLY. Then YOU sign over the title to the buyer who then has to go to the DMV to transfer ownership.
  • No, you have to sign the title over to the new owner. The lien holder releases the title to you. You sign it and give to the new buyer.
  • you're close. in case you carry call to the vehicle than all you may desire to do is sign the front of it and deliver interior the form exhibiting which you not own it. you're additionally to blame for procuring a smog certificates for it.the customer will prefer this finished call. there is yet another form had to flow" application for call" the customer will might desire to pay 15.00 to flow the call and the form and could additionally might desire to pay sales tax to the DMV for the cost of the vehicle. Thats it.
  • Actually the amount is closer to 20% with a conventional loan and your lender needs to verify the funds BEFORE your loan is approved. A down payment is paid in one lump sum.....hence the term "putting money down". You need to have the money before you really even start looking for a condo.
  • I'm not sure what you are asking. Are you planning on buying a condo or renting one. If buying you need to qualify for a mortgage and you would have to pay the down payment plus closing cost at the closing of escrow when you get title and keys. You would then make monthly payments to the mortgage lender plus have to pay property taxes and insurance annually. If you are renting you usually have to pay a months rent in advance plus a security deposit(usually the same amount as one month rent), then make you rent payments each month. If you are planning on buying you will need to have good credit, good monthly income,good debit to income ratio and a solid 2-4 year employment history.
  • when you make an offer to buy the condo, your down payment is entered into an escrow account that day, you don't have 'time' to come up with the down payment you either have it or not to make an offer to buy
  • How old are you, 7? You pay at closing, and obviously once.
  • We have our investment property for sale because we cannot make the payments anymore. The renters are 5 months behind with rent & are now squatters. We are trying to evict them but it's costing even more money. We've had an offer which was submitted in December. The lender has replied this week stating they will consider the offer but we may have to give them the difference in what is paid to what is owed. Can they do that? We'll be bankrupt.
  • Yes. The bank in a short sale has the final say on what they will accept and won't. BUT.. if you are in a state that is non recourse (not sure though on investment property...but I know for primary residence) they cannot sue you or get the shortfall. They will send you a 1099 with the shortfall and you have to claim it as income on your taxes. California is a non recourse state if your property is there.
  • Lets assume it is a buyer's market so you as a potential buyer can find a good deal. Should you buy? It really depends more on how long you are likely to stay in the area. If you will own the home for 5 to 10 years (even if you move out to another home) then any short term price decreases will largely be forgotten. In a buyer's market you can find deals where you pay a lot less than the average. Hence you can buy below the present market and if the market average goes down you can still be fine. It is also a good time to buy that home by the water or other unique location. Such homes rarely fall in value but there are times when there are not many buyers. If you are not staying long then definitely look at what it cost to rent as that might be best. For an overview of the foreclosure process and what it is like buying from a lender who took a property back look at the links below.
  • Rent now buy later. http://www.breakingbubble.com/Long beach is a Great city there is one of everything, a few block can and will be a big difference. There is a Harbor and very heavy industry, There is the Hood, a Cambodia section, wight bread suburbia, there are place that look like mexico, we have an Airport, there is a Gay ghetto, there are House ranches, believe it or not there is even a gated community of very short house that a bush of little people live in that have worked in the movies, also there is the beach, and a hopping city life. You really would have to check it out hear to see all there is it relay is a city of one of everything.
  • It may be very steeply-priced!! If you desire a roomie seem across the schools (UCLA, USC, Long Beach State, UCI, SDSU). Expect your element of hire to be anyplace from $six hundred to $one thousand. The nicer the vicinity and the toward the seashore you're the extra steeply-priced it's. It should not be too rough to discover a task. Temp businesses are ordinarily a rapid rent.
  • Rent first for a while until you know that you really like the neighborhood. By that time you'll probably also notice that the prices will have come down a little more. When you're ready, find a buyer's agent on http://www.naeba.com who will work for you and not for the seller.
  • Likely the story was about the California-based, sub-prime lender, New Century Financial which is close to bankruptcy due to its lenders have stopped providing financial support. The company has been delisted from the NY Stock Exchange.
  • The property is pledged as security for the mortgage. Someone will have to pay it off or the lender will foreclose on the property. If you bought a property via a tax deed and there's a mortgage on it, get ready to start making payments. In the vast majority of cases where real property is encumbered by a mortgage and is sold for back taxes, the lender buys the property from the taxing authority in order to preserve their security interest.
  • Mortgage lenders list the foreclosed homes with a local realtor. You would need to contact a realtor in the neighborhood you are interested in. Discuss with them the location, type of house and amount you are willing to spend The realtor can email you homes that fit your criteria and handle the purchase for you.
  • Your lease is valid and must be honored by the new owner. This happens all the time. Investors sell income producing property and it's the seller's advantage to have tenants in place. realtor.sailor
  • It is quite common for a loan to have a pre-payment penalty clause. Most typically it is applied if the loan is paid off within the first two years. It is certainly a big hit (normally 6%) but it might be worth paying in the long run. Only you can know what has factored into your decision to relocate. Possibly you can negotiate with your lender to loan on your next residence and avoid the penalty altogether. Talk to them.
  • No Prepayment Penalties in California are not illegal but probably will be some day. Ok you need to find out what type of Prepayment Penalty you have? Hard or Soft. Hard Prepay- You cannot refinance or sell your property without taking a penalty incurred by the bank/lender. Soft Prepay- You can sell the property without taking a penalty but you cannot refinance the property without taking a penalty. You can find most of this information in your Title Paperwork that you signed or call your bank/lender and ask for a "payoff amount." This will tell you what your overall loan plus penalty's if any. Any other questions or concerns please email me advise always free.
  • It is legal. The only states that prepayment penalities are illegal that I know of are Iowa, and Alaska. Other states have shorter prepayment penalty requirements. Keep in mind that this amount is a dollar for dollar tax write off for your tax bracket. Your penalty is probably 6%. To figure the penalty just take your non-escrowed monthly mortgage payment and multiplay it by 6. This is the amount you will have to pay and will be able to write off.
  • prepayments are actually not unlawful. There may be a checklist referred to as a prepayment rider that's a factor of your remaining archives. you will possibly have reviewed this and signed it. yet in lots of circumstances you will possibly might desire to evaluate the earnings between refinancing and arranged...is it going to be properly worth which you will pay 6 months of pursuits... This somewhat relies upon on what your fee is presently and what kind of a value you may get with the recent own loan.
  • Well, it depends..
  • Most lenders nationwide would be interested in lending to you after a two to three year wait plus rebuilt credit and an improved credit score. Though the foreclosure will still be on your credit report therefore you will be required to write a letter of explanation as to why you were in foreclosure. This is called a letter of explanation. I hope this has been of some benefit to you, good luck. "FIGHT ON"
  • Probably about 3 years, if you have excellent credit post-foreclosure, and save up enough for 20% cash down payment, plus closing costs, plus at least 3 - 6 months reserves. You'll also need at least 3 years good track record on the job - in a position where you are unlikely to be laid off. Considering the next wave of interest rate resets and recasts just started this spring, peaks in 2011, and doesn't decline until 2013, there will be a sharp increase in foreclosures over the next 3 - 4 years. Subprime was only a preview of coming attractions. The main event has yet to begin. We're still in the "popcorn commercials phase" of this double-feature. Wait till the show really starts.
  • I am not positive in California or how much this differs state to state, but I am pretty sure it is 7 years.
  • 3 to 5 years minimum and that is with keeping your remaining credit clean
  • Okay this whole thing is sketchy to me anyway but I would like your thoughts. Yesterday a man from Arcadia Florida calls me and tells me he's from "National Crime Enforcement Department" (no such agency google it for yourself) and that a civil suit has been filed against me. Gives me his name, number and a docket number (Florida does NOT use these Docket numbers). Next wants to verify my info. He has a THICK foreign accent with an EXTREMELY american name. I hang up when he rattles off my SSN and I think he might be predatory. He calls back twice more to harass me. I called Arcadia Florida's Civil division and no one knows anything about ANY of it. BTW I live in California. Today I call my mom who informs me someone with the same name and number whom THIS time is a DETECTIVE means to go after her in 2 days if she can't convince me to get back in contact with him for the money I SUPPOSEDLY owe. Let's say this WAS real. Can a lender pose as someone he's not AND can they go after a verified reference for money owed by a borrower?
  • Absolutely NOT
  • I would be more concerned about the fact someone with bad credit has the 'same name and social security number'. This does not happen and it seems as if you may be a victim of identity fraud. This could hurt you if your go to get a car loan or apply for a mortgage. Run a credit credit on yourself and find out of if there are any strange accounts opened in your name or accounts in collections.
  • it's probably all a scam. if your mom is not actually a party to the loan she cannot be affected by it. tell her to ignore any contact.
  • They are done the same way in the bay area as any other country. The auction is outside, on the court house steps, over in less then a minute per property. You have to register first, show proof of funds there on the spot, and if an agent is bidding for you they have to give a form that you signed, telling their commission or flat fee to bid on your behalf (everyone there is usually an agent). There is a reserve bid, if nothing is higher it goes to the reserve, which is the victimized lender.
  • May be foreclosures but they are still expensive! Also you will probably not be able to buy at auction. Most foreclosures are listed with real estate brokers in an effort to secure as much for the property as possible. Good Luck
  • Your best bet is to talk to lenders and learn how we qualify commercial borrowers. We look at the property just as much as do at the borrower. Learn the ins and outs so that you know what to look for when selecting a property and how to negotiate with the seller. You can also find sellers that are willing to carry a note, in which case you don't need a commercial lender at all. Good luck!
  • Tough occasions are whilst the rather well humans shine. It's feasible to earn money despite the fact that there is an oversupply of residences. You simply must win extra listings after which be extra expert at promoting than different marketers. Something that may rather support you to face out is the capacity so as to add significance for your customer's residence in order that he/she will get a miles better rate than they could with out you. That type of stories spreads rapid in any neighbourhood. Another factor you'll be able to do whilst occasions get hard is to complement your truly property earnings with a trade that does not clash in any respect (adding time) along with your truly property events. Sometimes a tricky economic system calls for us to feel laterally.
  • Try asking the seller how much they believe in selling the property and if they are willing to finance the property.
  • It is uncommon, but you MIGHT be able to do it, with a cash reserve and the cash flow of the building . You can find more information at www.worldclassfinancialgroup.com Good luck to you!!
  • couple of Words GOOD LUCK !!
  • Or rather, what should I NOT say? I'm buying a ranch in Colorado from my parents(we both reside in California), and the bank knows I am buying the property from them, but the underwriter has asked for a letter of explanation regarding my relationship with seller. Here is the exact email: "Before the underwrite issues conditional approval, they need a detailed signed/dated letter from you explaining your relationship to the buyer, your reason for purchasing it, and your intention with the property. Can you please send me this at your earliest convenience? " Is there anything, that I could put that would give the bank concerns about the loan? The reason I ask, is because Quicken Loans, the lender I use with my primary residence, rejected my loan application, simply because I stated that my parents might stay up to two weeks a year there without me accompanying them, declaring that by doing so makes the property an investment property, not a 2nd home. So I am hoping to avoid, some similar problem again. Like I said, I am purchasing the property as a 2nd home( I will vacation there in the summer, and possibly return in the fall for deer/elk hunting). The purchase price is $130k but the property appraised at 185k, I'm putting 20% down, and my credit is excellent.
  • You need an attorney before you end up *** deep in Elk poop.
  • Why aren't you paying FMV for the property? If it is truly worth $185K, your parents will need to file a gift tax form 709. The bank will want to know that you have a gift of equity rather than a loan. Eg, they NEVER expect you to pay them back.
  • Haven't thought too much about that
  • Find a good LOCAL lender. Ask your friends and family that have used a LOCAL lender recently for recommendations. Any FHA loan has a base down payment of 3.5%. You do not have to put a larger down payment unless: You are limited by the amount you can qualify or, you are trying to borrow over the local HUD limit or, the house does not appraise for the full sales price, the seller will not reduce the price, and you want to buy the house anyway.
  • simple---when you fail to make your payments to the lender....they come in the dead of night, while you are at work or when you take a trip into the local market-----AND TAKE BACK THEIR PROPERTY.......
  • They are the laws that define what the "Repo Man" can and cannot do. If you want a specific answer, please give a specific question.
  • Yes. the lender wants to see you have the down payment and closing costs. Also verify you do not bounce checks. that you are not living above your means and carrying too much debt.
  • Probably, there are not too many banks that have their own underwriting guidelines anymore, and lending in CA is rough. They are looking to see if you have had any large deposits, or if you bounced checks. Those large deposits will need to b traced and having bounced checks may disqualify you from the loan depending on the type of financing you are looking for.
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  • Your bank should be your first stop though if you are putting only 3 1/2% down, you will be eligible for a FHA mortgage only. Have you talked to your realtor? Have you looked in the phone book for a mortgage broker? In reality, how much work have you done re this or have you just been looking for properties?
  • Go talk to a real live lender and get pre-approved before you "find" houses.
  • The general rule is that you can afford 3 times your annual income. So, to get a $390,000 mortgage, you would have to make $130,000 a year.
  • Hmmm. That depends on a few things. 1. Do you want to get the car back? If so, the lender will ask for the back payment you owe, plus the repo fee, and storage costs, and MAYBE 2 months pre-payment up front. This will look better on your credit report if you do this because it will report as a "recovered repossestion". Just make sure you try to keep you payments on time after that. If you can't afford to get the car back or just don't want it - well, it depends on how much the total value of what you owe on the vehicle vs. how much the car is worth (or how much they can get for it if they sell it or auction it off). If you owed $4,000 and they only could get $2500 for it - plus the $250 repo charge (yes, YOU have to pay the repo man for repossesing YOUR car). Then you still owe the finance company $1,750 even though you don't have a car anymore. For that amount, they might just send it to a collection agency. But if we add a few more zeros and we are talking $40,000 owed and it sold for $25,000, plus the $250.00 repo fee - we're talking over $15K you still owe and they might put a lein on your house, or bank account or garnish your wages. But if we're only talking a few thousand bucks - it would cost them too much money in legal/court costs to try to recover what you owe - so they would just sell your account to a collection agency. And I wouldn't worry too much about them. Collection agencies are mostly all talk and no action. If you don't pay them, they just sell your account to another collection agency. However, your credit will be ruined for years to come because everytime an old debt is repurchased it acts as a new account and it will take 7 years from the time the new account is opened to be removed. So, say you bought the car in 1995, but the account gets sold to a collection agency in 1999, well you think, "hey no biggie - that will be off my report in 2006, right? Not if that collection agency sells that account to another collection agency in 2004, now that will stay until 2011. All this for a car you bought back in 1995! And this is perfectly legal! My advice, is see if you can work out a re-payment plan like 50 cents on the dollar over a period of time, and that will prevent the collection agency from further harrassment and from selling your account and having to start all over again. And it says to other potential creditors that you had some financial problems in the past, but you're not a dead beat and your paying on time now. Good Luck!
  • This comes as a wonder to you? you're responsible, legally and financially for the vehicle. You signed the settlement with the lender and also you'll't abdicate your duty and enable some different person take over your funds. The settlement including your "shopper" is invalid because you probably did no longer have the right to promote the vehicle. supply his assistance to the monetary company and enable them repo it from him.
  • If the bank does not receive enough to pay off your loan, you will be responsible for the balance owed, besides any legal fees that may be due.
  • "if i quit paying car payment" spoken like the trash that comes in begging for credit. A few years down the road your going to go looking for a real car and I'm gonna have to tell you, "sorry, but your trash" I won't lend you 30k if you put down 29k. Suck it up and pay you damn responsibilities. you went to them for a loan, just pay them back.
  • I think it's 150 questions. The law requires that broker license applicants demonstrate in a written examination: Appropriate knowledge of the English language, including reading, writing, and spelling; and of arithmetical computations common to real estate and business opportunity practices. An understanding of the principles of real estate and business opportunity conveyancing; the general purposes and general legal effect of agency contracts, deposit receipts, deeds, deeds of trust, chattel mortgages, bills of sale, mortgages, land contracts of sale, and leases; and of the principles of business, land economics and appraisals. A general and fair understanding of the obligations between principal and agent; the principles of real estate and business opportunity transactions, and the code of business ethics pertaining thereto; as well as of the provisions of the law relating to real estate as administered by the Real Estate Commissioner. When changes in the law occur or changes in the practice of real estate take place, new subject matter is added to one or more of the major categories. Thus, the categories are revised and brought up-to-date on a regular basis. There is no assurance that a specific test will cover all subject areas listed, because the test merely samples the broad field of real estate. The following lists of examination topics are for informational purposes and should not be considered totally comprehensive: Property Ownership and Land Use Controls and Regulations (approximately 15% of exam). Classes of property Property characteristics Encumbrances Types of ownership Descriptions of property Government rights in land Public controls Environmental hazards and regulations Private controls Water rights Special categories of land Laws of Agency (approximately 12% of exam). Law, definition and nature of agency relationships, types of agencies, and agents Creation of agency and agency agreements Responsibilities of agent to seller/buyer as principal Disclosure of agency Disclosure of acting as principal or other interest Termination of agency Commission and fees Valuation and Market Analysis (approximately 11% of exam). Value Methods of estimating value Financing (approximately 13% of exam). General concepts Types of loans Sources of financing How to deal with lenders Government programs Mortgages/deeds of trust/notes Financing/credit laws Loan brokerage Transfer of Property (approximately 10% of exam). Title Insurance Deeds Escrow Reports Tax aspects Special processes Practice of Real Estate and Mandated Disclosures (approximately 27% of exam). Trust account management Fair housing laws Truth in advertising Record keeping requirements Agent supervision Permitted activities of unlicensed sales assistants DRE jurisdiction and disciplinary actions Licensing, continuing education requirements and procedures California Real Estate Recovery Fund General ethics Technology Property management/landlord-tenant rights Commercial/industrial/income properties Specialty areas Transfer disclosure statement Natural hazard disclosure statements Material facts affecting property value Need for inspection and obtaining/verifying information Contracts (approximately 12% of exam). General Listing agreements Buyer broker agreements Offers/purchase contracts Counteroffers/multiple counteroffers Leases Agreements Promissory notes/securities NOTE: To pass the broker examination and become eligible for a license, examinees must correctly answer at least 75 percent of the questions on the test.
  • Maybe a lender from NY can give you a specific answer I can't, all I can do is give the link where you can find out. I think California and N.Y have a secret competition going to see which one can write the most laws and impose the most taxes so that they can beat each other in the number of public employees that the tax generated can employ. Hey that's a good conspiracy theory ha. Anyway here is the links: PROPERTY TAXATION LAWS: http://www.orps.state.ny.us/pamphlet/tax... or http://www.orps.state.ny.us/star/index.c...New York taxation department site: http://www.tax.state.ny.us/Buena Suerte
  • I think there are legal requirements to be a lender. If you don't follow them, then it might be hard to make a case once people start defaulting and decide not to pay you. If you want to pursue this, I'd only do it with people you know and trust, not complete strangers... and make it an actual contract with rules and obligations, not just a scrap paper that says "I O U $$$" with their signature. What you are doing might technically be considered loansharking.
  • when the lender is convinced the borrower is not able to pay. Pure and simple. IF you call and make small payments and larger every other month and your home is not worth 20% more than you owe, you will not lose it.
  • As soon as the bank decides it is no longer worth it to try and work with you and they file for foreclosure. Once that happens you have reached the point of no return because it will generally cost you too much to try and catch up on payments. If you mean when will you be put out of the house, that will happens after the court date where the state agrees the foreclosure is valid and returns the title for the property to the bank.
  • http://www.freedomforeclosure.com/dfrizzell
  • when you cann't afford it
  • until you get evicted. you should talk to your lender about it. some might let you stay longer than others. technically, they could have kicked you out before the auction, as soon as they got the foreclosure judgment.
  • If this is a note for a loan on your home, you don't have the original. The lender does. All you need is a copy to know how much the payments are and when they are due.
  • They should be able to get you one from their own records. If they do certify yours, they would stamp it "certified correct & exact copy of the original". The note really isn't as important, it's the deed that is important. I'm assuming this if for your home. The deed proves you own the property/home and won't be released to you until the note is paid. So you don't or shouldn't really need proof of the note for anything. The note just states that you have a loan with the bank and you will pay it back as described by the conditions in the note. The county should have a recorded copy of the deed vested in your name. It is sent back to the bank since they own it until you pay, so I don't think you can get a copy of that until the bank sends it to the county for they send the lien release to the county to be recorded.
  • it could only become an issue if the default on the mortgage of your father in law forces your husband into bankruptcy proceedings and he quit claimed with the knowledge that the foreclosure was imminent. but that is something you and your husband know, it could get him into some hot water. otherwise the answer is no.
  • No, your husband has no interest in the property. How can someone take anything from you if there is no interest or related documentation stating that he is "apart" of the property?
  • No as your husband has no interest in your property.
  • You must be 18 to legally sign contracts. No lender will give you a credit card if you are not legally liable for the terms of the contract. Additionally, new law requires that people under 21 must provide proof of sufficient income to qualify for a credit card or have a parent co-sign.
  • usually you have to be 18 and will probably need someone with good credit to help you.
  • 18 and thats if you have credit
  • now you have to 21 years or old if under you will need a co-signer this is due to new laws this year
  • My grandma is selling the condo she bought for my dad in California -to my dad (for $1 -he is on disability and does not pay taxes), at which point he is selling it to me. My husband and I are looking for the best way to purchase this property. He'd sell it for 275, though the property appraised at 350. We thought of making the difference a gift of equity for a 20% down (we can't afford the 10-20% every lender requires of us and he can't afford to make repairs necessary for an FHA loan). We are foregoing any RE agents or other legal help to save money, please don't tell us to get one. Questions: 1.Does he pay capital gains on the sale price of 350K (of which 75K is "a gift") or what he sells it to us for (275K) (minus selling costs)? 2.He won't qualify for the 250K exemption-he didn't own it for 2+ years. If my grandma puts him on the deed, and they both sell it to us, will he be able to take the 250K exemption? 3.Other suggestions how we can make this transaction work? Thanks!!
  • Andrea I'm sorry by you need professional advise we can't give you here. That requires an estate planner or advisor and after working hard to obtain that education, like any professional I'm not willing to just give the information away for free.
  • you'd be required to fill out your 1040 earnings tax go back utilizing the assistance which will be stated to you and to the IRS about all of your transactions in the course of the tax year on a consolidated 1099 style from, the trustee or broking service that's doing the transaction for you and could be sending you and the IRS a replica of this 1099-B and the different 1099 earnings that you will be receiving in the course of the year for this purpose. you should apply the schedule D mutually mutually with your 1040 earnings tax go back in year 2012 tax filing season for this count number. And certain the effective homes and the losses will each and each and every be offsetting one yet another even as the schedule D is properly carried out for this purpose. yet you nevertheless desire to fill out and report your 1040 earnings tax go back for your issue that you're literally in immediately on your life. wish that you hit upon the above enclosed assistance sensible. 08/19/2011
  • You can call around to banks &/or Mortgage Lenders to see who their processors use (as to ordering title work). I have used Stewart Title in Indiana, and they are all over the US (at least it seems they are) and I did a search and they are in Kern County, CA. All title companys use computer softwear to check for title work, &/or have a searcher to the the court house to do a record search. You can even call them, and ask them about how they gain their information. Stewart Title, Kern County Division - Title and Escrow Services at their Best http://www.stewartbak.com/
  • Any of them. They all have to be up to date.
  • A wrap-around mortgage is a loan transaction in which the lender assumes responsibility for an existing mortgage. For example, S, who has a $70,000 mortgage on his home, sells his home to B for $100,000. B pays $5,000 down and borrows $95,000 on a new mortgage. This mortgage "wraps around" the existing $70,000 mortgage because the new lender will make the payments on the old mortgage.
  • A friend is three months behind on their mortage. They say they have still not received any certified letters or anything. If they decide to stay in the house, approximately how long would they have before the foreclosure and eviction? Again, this is Riverside County. (Please only answer if you have first hand knowlege of this process.) Thanks!
  • Depending on the lenders being on top of the matter. Since this is a domino effect the lenders plate is likely full. They can definately stay in that house 3 more months and maybe more. Since they haven't recieved an official notice yet, I don't think the process has even started.
  • as a prior poster stated, it relies upon on the easily sheriff. i'm able to inform you that Riverside county sheriff's tend to be slightly extra lenient than others (san diego county as an occasion) basically in accordance with speaking to others who've tried and recieved CCW's in Riverside and different counties. That being stated. it rather isn't any longer unavoidably a given which you will take transport of the authorization for a CCW. many times once you're a million. a private investigator 2. totally authorized boutny hunter/reposession agent 3. protection take care of (somtimes) 4. off accountability police officer you'll have a extra suited probability to have the skill to acquire one. Following is a hyperlink of a communicate board that provides effectual techniques on CA CCW's for extremely some counties. i could recommend you look into it and notice what you come back up with on your own.
  • If the foreclosure process has not even started there may be a way for them to still avoid it. Have them check out the website Free Foreclosure Prevention, they have professionals who are there with you every step of the way. They may be able to help your friend save their home. http://freeforeclosureprevention.net
  • Step one is to call you lender. You will then be presented their terms for which you can take back possession of the vehicle. They will probably ask for all back monies owed, plus repo fees. If you cannot pay this or work something out, they will send the car to auction. It will sell for pennies on the dollar, and you will be presented a bill for the difference between what it sold for and what you owe. If you cannot pay this, they can (and probably will) take you to court. If they don't, they'll at least turn it over to a collections agency and you'll be hounded for years. If it goes to court, they can obtain a judgment against you and possibly garnish wages or assets (depending on what state you live in). If they do auction the vehicle and present you with a bill, that's when you obtain the services of an attorney to try and negotiate a settlement with the lender. At best, you pay the back fees and get your car back. At worst, you get both a repo and a judgment against you... and forget about borrowing money for years.
  • Do you have the money to pay for it? Legally, whoever repossessed it has to let you know where and how they're selling it, and give you the chance to buy it back. If they aren't, call them and let them know that they are legally required to do so, and that you will be willing to tell the police that they're violating state law in regard to repossession. (This is more of a scare tactic than anything else though. They'll likely tell you where or how the car is going to be sold.) The main thing is that you need to have the money to pay for it. If you can't afford it, if it's not yours all the way, you're hosed.
  • contact the finance company that it is financed thru and ask to renegotiate your terms good luck
  • Hire a good exorcist.
  • No you do not have to pay the back taxes, taxes begin when you take ownership of the property not before. The taxes become your responsibility once you own and not a day sooner. For example, you buy the house and close escrow on Oct 10, you will pay taxes starting oct 10th and the seller which is the bank will pay the taxes and liens from anything prior to that day. You must use a title and escorw company to insure all back taxes are paid. I hope this helps, I am a mortgage lender in California, and I just did one of these transaction for a buyer. so I am confident in my answer SMILES
  • You need to ask the bank that is auctioning the property if this is a stipulation of the sale. Not all auctions are the same.
  • Yes, when the bank foreclosed they were not required to pay the taxes because there were the lien holder but you, as the new buyer, will have to in order to clear title.
  • no, because the bank you bought it from had to pay those when they bought it.
  • Off the rack answer: Three months late payment & lender files Notice of Default. One Month after that, files Notice of Trustees sale. One month after that, property is sold and if you don't move, buyer (probably the lender) has to sue to evict you. As a practical matter, it is taking much longer now because of the volume.
  • I have to disagree with the previous answer. Only the borrower needs to sign the note. It does not have to be notarized, but that is always helpful if the borrower denies signing.
  • both do and an extra onlooker to prove it
  • You have none. Once the property changes hands from the previous owner to the lender, they will begin the eviction process or offer you a "cash for keys" deal, where you leave peacefully with the home in good condition, then they will pay you a few hundred dollars.
  • Two ways that investors get 'free' lists. 1. Rather than pay they invest the time to search the public records. The records are held at the county level. Recorders office or county courthouse. You can look up everything there. 2. The title company will supply a recent list for no charge if you contact customer service. They need to believe that you are likely to do a deal and when you do the title company will get the business (handling the escrow). Once you have identified a property you can contact the trustee and become an interested party. The trustee will then keep you up to date with any changes to the file. They likely will charge you to be listed as an interested party. CA is a trust deed state so most 'foreclosures' are trustee sales. The foreclosure process varies by state. More info in the articles below. Note you can buy REO property. Most of the time the lender will list with an agent so the info is available for no charge.
  • www.realtytrac.com has a 7 day free access. Other than that, just hook up with an agent who is knowledgable in foreclosures. They should have access to this list. For example, I have two databases of foreclosures I use to help my clients find undervalued properties. Regards
  • First of all you have to qualify in order to do a short sale. If you have a choice beween foreclosure and a short sale, choose the short sale, it is less damaging to your credit. You really need to consult a professional tax advisor before making any final decisions. Also, there is a bill in the House that will probably pass and go to the Senate and be added to a current bill that will not allow deficiency judgements or "phantom income" to be assessed to the homeowners. In the past, in some states, lenders have issued a 1099c for the deficiency...in other words you pay taxes on the difference between what you owed and what the lender received. If passed, this would help out homeowners in short sales not be further kicked when that are already down. Another alternative is to contact HouseBuyerNetwork.com to see if they have coverage in your area to help you sell your home quickly. . It is a free service to you. Good Luck!
  • They may not agree to the shortsale if you are sitting on equity from a primary residence. Very unlikely.
  • it truly is in collections and been charged off (this implies they're finished with it and it truly is been written off and closed of their books). it truly is way too overdue to attend to the credit union now, you should attend to the business enterprise that offered the debt.
  • Possibly. You don't give enough information to make an actual judgement on. A quit claim is more for removing future responsibility rather than the past. Depending on the action the quit claim needs to have been completed within a statute of limitations. For some thing it is two years, for others it is five, for some it is forever.. I need more detail to give a difinative answer.
  • NO. Their is not any deed that will protect the property from a lender if you do not make the payments. A mortgage is as 'SECURED LOAN'. That means that the property is the security for the loan. Don't make the loan payments and you or anyone else does not get to keep the property. BOB F
  • if there is a mortg. on the property, someone is still liable for that loan. You could quitclaim the home to your cat*, but if you default on your loan that is secured by real property, (your house), that's what they're going to come after no matter who is on title. *cats cannot own property **no cats were harmed in the making of this answer
  • unfavorable, in case you owned the valuables with your mom all you ought to do is relinquish your interest in the valuables. you will quit declare deed it from you and your mom on your mom. be constructive to notarize and record it.
  • Assuming you're in the USA, most states have websites that include such information either under real estate, finance or consumer protection information. Here's ours in California. Buyers beware - everybody involved in the real estate industry is looking to part you from your money. Trust me.
  • Anyone have success stories of buying these kind of homes? Please share!! I'm a part time new (8 months) realtor in CA. I have sold two homes. One home a regular sale and the other bank owned. Bank Owned: Clients put 20% down, paid closing, and 20 day escrow, and attached FICOS, and proof of funds, $5K under asking price. My new clients have put in five offers Corona area with 10% down, closing, 30 day escrow and back up financials and we have been outbidded by others everytime! Any ADVICE? HELP
  • Are you sure you were outbid on those Corona properties? Or was that simply the lender's excuse for not accepting your offer? The reason I ask is because the Corona area is flooded with foreclosures. It is literally a bottomless pit of REO properties. It's hard to believe that there are bidding wars out there for Corona properties.
  • I own 3 houses. my primary is in California,2nd home in ft lauderdale florida, and investment property in orlando florida. I am current with all of my payments on all properties and have 780 scores. cannot modify investment property because of it not being primary. I owe 300k its worth about 175k. I cant hold on much longer before I default. If i were to let the lender foreclose can it affect my other 2 homes?WHat are my options as far as letting it go?
  • If you have more than one home with the same mortgagee (lender) then read your mortgages. I have seen mortgage provisions that state if one property is in default the mortgagee can consider both in default. If they're diffetent mortgagees then it shouldn't be a prpoblem. Other than foreclosure or short sale, you might look into a deed in lieu of foreclosure. That's where the mortgagee, to avoid foreclosure costs, agrees to accept a deed to the property and in some cases forgives any deficit balance. Unfortunately most mortgagees won't talk to you until you are in default. Good luck. realtor.sailor
  • In other words, how much mortgage can you qualify for? Go get preapproved with a lender - then you'll know. It will fluctuate along with interest rates.
  • Well it might be more possible if you can already prove your monthly rent payment (I assume you renting) is 35% or more of your take home pay. If you can pay the rent which is not tax deductible, then you can pay the mortgage, property taxes and insurance too if they are the same percentage as your rent. The longer you have been doing the above the better.
  • after you miss the third months house payment your bank forecloses. They warn you at thirty days late then 60 days they warn you to short sale if you r in trouble they suggest you refinance or rework your loan come talk to the bank or lender offer. then at ninty days they list your foresclosure and file the foreclosing by 120 they ask you to move out a second time if your not out by then besides putting locks on the residence they lockbox the doors and seal the house if your in it they ask to you to leave by then you woul dhave had a officer with the bank rep putting the locks on the doors. and they show your property daily as people come by to look over the buy. The auction is held if it sells other come show up in about the six month period you have not paid a house payment by then its way to late if it sells at auction your due to the lender any amount under the purchase and loan amount versus the auction amount your due to the bank. they will hold your accounts liable for the amounts your auction versus your payments would have made. then your done when someone else moves in and you out. by then the cops are involved and your a illegal alien in your use to be home.
  • You don't foreclose on yourself - the bank does it for you. I'm glad your in CA - there's lots a vacancies here. Get out of your house before your credit is ruined and you won't be able to rent any decent digs without a bunch of cash and a 700 Credit Score.
  • If you foreclose, the bank will take your home, you will be kicked out, and they will sell the home while you get no cash. Also, your credit score will tank and no other bank will give you a home loan for a long long time.
  • How can you FORECLOSE on your own HOME? Perhaps you don't know what the word means.
  • umm..... i would rent less expensive!
  • u will lose
  • Ella, if they aren't making the mortgage payments do you really think you will get your deposit back? You could sue, but it doubt it will help, besides it's not cheap. You won't have to move until the clerk of the court gives notice and that tells you how long you have. I would consult an attorney regarding paying anymore rent. I wouldn't want to tell you not to and your state has laws about. So best to talk with an attorney, most will do a consult for free. But I would advise you to start looking for a new place. And on the next one, make sure the landlord/owner is in good standing with the lender. If they have the right to check your credit history, why not you check theirs?. Good Luck!
  • When the property changes ownership back to the financial institution, the financial institution is obligated to the lease contract.......however, they are not obligated to renew your lease. Here is what you can try: Call the bank and find out how to take over payments of the mortgage after your lease expires. Essentially, all rent/lease payments are now equity payments and will serve as a down payment. You are at a crossroads where you may be kicked out at the end of your lease so protect yourself and see if you can turn your rent into ownership. Just a suggestion and reminder....the bank is obligated to the rental/lease agreement.......
  • You absolutely cannot seal the record. But why would your lender care? The judgment is that you are a bad tenant.
  • Absolutely. As long as the Trust is revocable (if it is an FHA reverse mortgage). The lender / title company must approve the trust because they look for specific language before they are willing to insure it. Trusts don't affect or change how the reverse mortgage work. A Trust really protects the heirs, not the seniors although they pay for it, but it makes for good financial estate planning and protecting your legacy if that is important to you. It helps the heirs avoid probate; and it makes it clear on paper to everyone what your intentions are for your assets, and stops anyone contesting your wishes in court. What is also good about a Trust is that usually it includes a will, a durable power of attorney for financial affairs and one for advance medical directives; something everyone should have, with or without a trust.
  • Many savvy lawyers recommend this--and suggest that you don't put anything else in the trust at all. It doesn't count as a sale because the trust is revocable until the person dies. If they die and the house is underwater, this can be useful.
  • It shouldn't be necessary as the homeowner is already entitled to stay in the house until they become too ill to live there any longer.
  • NO way. Are you trying to scam someone??
  • of course; that is an exc idea!!
  • You must decide which you would want to to as there are many steps in buying a house and renting a house, no matter where you would want to do either. If you would want to purchase a house you would need to contact a local mortgage lender and apply for a mortgage loan pre-approval. In order to do this you would have to prove you currently have a job for 2 or more years. You would also need filed federal income taxes and w-2 for two years. There are other documents needed. Your mortgage loan officer would explain what these documents are and when they are needed. Once you apply for a mortgage loan, your credit report would be obtained that would have your credit score listed as well as how you pay your current debts. In renting a rental property you would need to google property managers followed by the city and state in which you would want to reside. many sites would appear. You would need to call as many of these sites as possible to obtain their rental list as possible. Some would refer you to their web site, some would email a list of properties they have for rent. Normally these list would include the number of bed and bathrooms, the monthly rent expected and possible a rental application. I hope this has been of some benefit to you,good luck. "FIGHT ON"
  • 2
  • The cost of the home is $425,000 with a 20% down payment. Loan Origination Fee 1,700 Appraisal Fee 350.00 Funding and Review Fee 530.00 Tax Service to Bank 81.00 Wire Transfer Fee 35.00 Flood Determination 8.00 Processin Fee 575.00 Pre-Paid Interest 1,368.57 Escrow Fee to Title company 648.75 Document Preparation To Title Comp 200.00 Lenders Policy to Title Company 489.70 Owners Policy to Title Company 1488.80 Courier/Messenger Fee/Fed ex to Title 90.00 Recording Fees To Title Company 98.00 Hazard Insurance 600.00 Notary Fee 150.00 Pro Rated Property Tax 1729.00
  • 1. Loan Origination Fee - The person charged you .50 point. Thats very good. 2. Appraisal Fee- Did the company or LO pay this themselves or did you pay for the Appraisal? Reason I am asking is this is where Double Dipping can come in. Client will pay for Appraisal and than get charge again by the LO in Funding. So make sure if you paid the Appraisal they take this out in the Final Hud-1 Statement or DONT SIGN THE DOCUMENT. 3.Funding and Review Fee- JUNK FEE if by the LO or Company. If its the Bank or Lender's Fee than its decent. Not sure who funding your Loan so cant determine 4.Tax Service to Bank - Normal 5. Wire Transfer Fee- Normal 6. Flood Determination- Title Charge and is Normal Fee 7.Processing Fee- Bit high. Could come down some. 8.Pre-Paid Intersest-Normal 9. The rest are Title Fee's and are outrageous. Unless the Seller(s) are paying this than tell them you wont sign. Notary Fee is Crazy especially if you are going to the Title Company to Sign the Documents. Definately make the Seller pay for these Costs by the Title Company. Any more questions feel free to ask. Here to help.
  • You didn't mention your interest rate and terms. That's also a factor in this, as it's easy to drop fees and charge a higher rate. I'm not in CA, so I do get surprised at some states title costs (like Florida is outrageous), but these just seem ridiculous. Shop around for your own title company. You can close anywhere you want, most people just never think to ask. And I can't imagine you can buy a year's worth of hazard insurance for $600 for a $425K home in Cali, so that one's just crap. The funding & processing fees could both be cut by $2-300 each, but the reality is that most brokers have to pass through $400-600 to the end investor, plus pay their company a processing fee of $3-400, so the LO is probably just covering what needs to be covered. And with a low origination fee of .5%, they can't cover it through that.
  • The only thing that clangs a bit in my ear is the Funding review fee of 530. in addition to the 575. processing fee. The rest looks fine.
  • Absolutely normal costs
  • L:ots of these sound like junk....go over them one by one with your mortgage person...threaten to find another mortgage source...maybe a credit union, they have less junk fees.
  • look on bankrate.com. Your mortgage company is gouging you on the fees...
  • This is CashCall.....a vicious predatory lender located in California that charges 99% on loans. Only use this firm if you are 100 trillion percent sure that you can pay the loan back within 2 weeks. Otherwise, with 99% interest...making minimum payments, you will literally pay on the loan for the rest of your life and the loan amount will never go down. - CashCall has its own in-house collection dept...and they are brutal. If you get one day behind in payments they will harass you at home and at work mercilessly. http://www.ripoffreport.com/Search/cashc...
  • This Site Might Help You. RE: Has anybody out there tried (866)590-CASH before? Just curious... I sometimes hate that things like that strike my interest. I hate it cus I'm such a sucker sometimes. But I'm in desperate need of some extra cash (haha) and was wondering if anybody here has actually borrowed from them before? Thx~!
  • is possible yes it is a good idea. also like testers of beauty products to take on holidays so usually ask for the ones i use so i get the mini bottles, saves money, space and carrying things back home. also good for the little plastic bag if you need to go through customs with all your things and not check a bag in. hate those silly bags!
  • It's my money, and I need it NOW!
  • A mortgage is a security interest in real property held by a lender as a security for a debt, usually a loan of money.
  • The phrase has no specific meaning. Could be some lender's marketing phrase.
  • Good day to you: I am Mr Rolex Phins the owner of Rolex. oil plc,i am a certified loan lender,that offers loan to people who are in need of loans.i give out loans for project, business,taxes,bills, and so many others reasons.so contact us now and get the loan that you need with a low interest rate of 5%, if you get a loan from us you will be glad you did, because the terms and conditions are very simple. There is more to gain by getting a loan from this company,so any interested person or persons should via mail: Rolex_phins1@yahoo.co.uk so that the transaction can begins. The transfer of the loan depends on your early response. Your satisfaction and financial success is our aim. Thanks and God Bless, Mr Rolex. GOD IS OUR REFUGE
  • Wells Fargo Home Mortgage and Washington Mutual Bank are two good ones. So is my friend Vince at www.redmondmortgage.com but he's not licensed in California, though, I'm confident he can refer you to someone in your area. He worked in S. California before moving to the Seattle area.
  • BofA bought Countrywide and just got slapped with a lawsuit in regards to Countrywides illegal activities. If you have a countrywide loan and fall into the category of people that didn't realize that their mortgage wasn't fixed but an adjustable ARM you should contact your lender immediately and see whether you qualify for the loan modification program. If you aren't one of them then contact your Lender anyway and ask them to help. There is always a chance that they just might find a way to keep you in your house.
  • You do not do the underwriting. The underwriter works for the lender and actually makes the approval decision - not a $9/hour job. Loan processors with experience should be in the $12-15 range with comission bonuses based on production bringing them up to about $35k to $60k. It is not unusual for a processor to earn $70-90k running a team of jr processors. Try craigslist.com and mosnter.com and go on an interview to see what your marketability is.
  • They probably have a pretty good idea, but not for sure.
  • I would call the bank and ask them to find out who it is. It could be a fraud. And it could be mortgage company that bought your mortgage from your current lender.
  • It depends on the age of the home and if you are renting or buying the land. Some mortgage companies will finance on newer ones. You have to go online and search for a specialty lender that does mobiles. They do exist. Mobiles are personal property not real estate. You usually need a larger down payment and they start at higher interest rates.
  • Any dealership that sells new mobile homes can arrange a title loan for buying a mobile home. Banks, Mortgage companies and credit unions do not. They will give you a personal loan but that is not tax deductible.
  • I think you need a personal loan, not a mortgage for a mobile home in california
  • Credit unions, banks, and finance companies.
  • financing companies sometimes professionals
  • HI there, I only have filed taxes as 1099 for one year. Just as of 2013 I have been working on as a 1099 (self employed). To buy a house, I am being told that I need to show at least 2 years of taxes filed as 1099. Is that true? OR one year of filed taxes as 1099 will work too? I was on W-2 for 15 years working in the same IT field but as of 2013 I am on 1099. So my status changed from W-2 to 1099 but my nature of work is the same.
  • You need two years of solid and stable income history. Obviously, lenders do write mortgages to the self-employed and people who change jobs. Mortgage brokers are often more flexible and give better rates/points/fees than the big banks. You also need: 2 years of 1040 tax returns to document your income 2 IRS Forms 4506-T so they can verify the accuracy of those tax return photocopies 2 recent bank statements to show your savings
  • They always ask for 2 years of 1099 history in order to prove you will consistantly earn money being self employed.
  • They will request all financial tax information for financing You can buy a house with cash and skip the mortgage approval
  • I don't think it should be a major problem. You have a steady income history in the same industry. You may be asked to provide a year-to-date profit/loss statement for your business.
  • You have really two options. Option one... Find a lender who is licensed under the department of corporations and go work for them. Their DOC license will allow you to work without any additional licensing for yourself. Option Two... Sign up for, take and pass a Real Estate Sales Person course. Then sign up and take the CA state RE exam and pass. This will get you your license then you can either go sell houses or do loans. Your license with the department of real estate is usless unless you hang it with a broker. You can not participate in any real estate transactions unless your license is active at a brokers office, if not it is listed as inactive. Best of luck Kevin 866-562-6838 x 106 Kruorock@firstratelending.com
  • Based at the information your giving us, I suppose there's plenty extra to this tale than you are inclined to confess. It turns out ordinary that your vehicle might be impounded in view that you will have an out-of state-license. Is your license legitimate, is the vehicle accurately registered and insured. I was once stationed in San Diego for 3 years and held a drivers license from New York and on no account had my vehicle impounded.
  • is this the perfect time to buy a home as june 07.since home prices are coming down.we found this house for 174,900 in california is a short sale .the seller actually owes 230k to his lender.i got approve from the riverside county for 20% down payment assistance wich will be 35K and getting fianance 140K from countrywide with a 6.50 interest on a 30yr fixed rate my payment to be around 10157.00 they said. tell me if sounds like a good deal."first time buyer" we are paying about 795 a month in rent. avergae rent around here 1000 a month.they want only 500 dlls for escrow...please advise me. only......no services please.
  • That is a great deal for you, all the way around. Great price and a great loan. You really should go for it. You can make up the difference in $ by having the state take less from your income tax. Because you will be able to claim your house payments against your taxes you will actually spend less per year on housing then you are now as a renter. Congratulations on taking advantage of the present housing market!
  • I hope that you are not basing the worth of this house on the fact that the seller owes $230K on it. Ascertain the true market value of the house by checking comparable recent sales in the area. It's somewhat rare for a bank to approve a short sale that much below what is owed unless the bank feels that this is the most the market will bear for the property. If this is the most the market will bear on this property, then it's TRUE worth is $174,900, not $230,000.
  • pay 500 bucks for an attorney and have her/him look over the deal. Often, if you find a deal like this it is too good to be true.
  • sounds perfect. Where is it located? I would buy it. is it through an agent? don't get ripped off by an attorney. Just work with your agent.
  • Is there anything in the section 5 that states "Was borrower personally liable for repayment of the debt?" If that debt gets canceled you will have income. In my state, California, a lender can not collect anything beyond the collateral for a loan when the loan was for purchase money (not a refinance.)
  • All of the answers are wrong so far. Look at the 1099-A. Your line 5 said yes, so there is POTENTIAL cancelled debt income if the amount borrowed is more than the fair market value. It's not income on your 2008 return unless you also got a 1099-C for 2008. (The 1099-C may show up NEXT year.) For the 1099-A you take the smaller amount, the FMV your case to fill in schedule D. You must report the same because the computer will be looking for it. If you lost money, it's non-deductible. If you made money, look at the $250K/$500 exclusion in pub 523. When you finally get the 1099-C (again this may be 2009 or 2010), then you read IRS pub 4681 and see if you are eligible to use form 982 to offset the income. Not everyone can.
  • This Site Might Help You. RE: I got a 1099-A Acquisition or Abandonment of Secured Property form. What does it mean? Do I lose my tax refund? We recently got this form in the mail. We lost our house in 2008. I have no clue what it means and I want to make sure we wont lose our tax refund. Do they count the difference between the fair market value and principal balance as income?
  • Dear Gib: The rules are different this year. With the Mortgage Forgiveness Debt Relief Act you may not have an additional tax liability. Look at www.irs.gov and the above Relief Act and see if you qualify. This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provide. Click on my profile to read more. Errol Quinn Enrolled Agent Master Tax Advisor
  • i've been browsing the internet more than two hours today seeking the answers to the same question, and I haven't found a more interesting discussion like this. It's pretty worth enough for me.
  • There is no form for that. If the debt forgiven is less than your equity in the residence, you are fine. If the debt is over the amount of equity it is ordinary income to you and taxable.
  • yes you do
  • When you first bought a home, lending standards were almost non existent. Loans were giving out to anyone with a pulse. These days you will a thing called a down payment and sufficient income to actually afford the home. However being less than 2 years removed from previously stilling a mortgage lender, PLEASE do not think you will find lenders lining up like you probably experienced last time. Times have changed and only responsible people with sufficient funds are currently getting loans, unlike before.
  • if your income has been the same since you first qualified, why did you get behind on your payments and have to sell? im not attacking, i swear, i am trying to learn a bit about short sales myself so i know how to buy a short sale home
  • Try realtor.com first. If you don't find what you are looking for there, many others are listed if you search. It would be best to talk first to a lender about what you can afford before you waste lots of time.
  • Auto finance is what I do for a living and lets face it you have already defaulted on the loan once so why would the lender let you have their vehicle back without a co-signer? The lender has a right to protect their investment and you have shown that you are not trustworthy. Frankly, I don't think you deserve to get the vehicle back and anyone that co-signs for you is a idiot.
  • ONLY if the co-signer was a party to that agreement to modify and signed the agreement an agreement can only be changed by agreement of all parties to agreement Your question is poorly stated, and unclear. If original lease ran it's full term and LL and tenant then entered a new month-to-month agreement which guarantor did not sign, there's NO liabiility. But if original lease term is still in effect, then maybe. . . .
  • There is no such law. If the bank does not feel you qualify on your own for a loan they are with in their right to ask for a co-signer.
  • Of course there are no laws forcing banks to loan money when it looks like they would just be giving it to you. Since you aren't going to pay for the car you need to produce someone willing to do it for you.
  • You are out of luck. The bank is saying that you are not creditworthy enough and they want someone more financially responsible on the loan to make sure they don't have to hunt you down and repo that vehicle again. It's one of the perks of not paying your bills on time.
  • You already defaulted once, of course they can demand a co-signer.
  • There are many auto loan options available today. Today, stiff competition among auto loan financing companies<!--has made it possible to get a car loan or an auto loan at favorable terms. http://badcredits.awardspace.com/autoloans.htm However, before you sign the paper for financing your favorite set of wheels, do your homework to ensure that you get the best car-->finance option. You can apply for online car loans on the Internet, or get it from your car dealer.
  • but surely as you are getting it back from repossession then you have already defaulted on the loan in the first place......they must have the right to protect their investment....... regards
  • I must agree with Spifiman1, you do not deserve your vehicle back. You have already show yourself not to be responsible. And anyone that co-signs for you is a idiot.
  • Sure they can.
  • So my I am moving to the O.C. I currently have my real estate license. Ive been a Realtor for almost a year. I definitely want to do real estate in oc, but i want to work as an assistant first to shadow an experienced agent and learn as much as I can about real estate. I can close a deal completely on my own - I am not that new, but i always learn new thing with every deal I do. Plus I am going to be new to the area. Sooo.. My question is will it be difficult to find an assistant job. Will it be a benefit for me as a newer agent? and how do i find top producers that need assistance?
  • Contact the brokers and ask them if anyone in their office is looking for an assistant. Make up a sharp flyer - not necessarily a resume - and ask if you can drop it into their boxes. Stop in to open houses to meet agents, ask at title company offices and mortgage lenders as well.
  • Miami has the equal stage of Spanish audio system than Orange county. You ought to seek advice from it once more,now not as a visitor, however as anybody watching for condo and areas. You are OK for Miami,as a result of Your discipline of labor. Miami do not have too many Jobs variety. take into account this,Bankers,economist,architects,legal professional... and developers contractors,realtors.retailer proprietor....... are good in Miami. the opposite fields of works could have a few disorders, until You pass the entire approach down within the scale of trades.( then,, there may be cash ,once more, however now not within the core of the scales) I forgot to mention it.!!!! WELCOME TO MIAMI !!!!!!
  • Go to http://www.grants.gov for a list of government grants and how you can apply for them. If you need more money, you will need to apply for a loan. No lender will talk to you unless you provide them with a valid business plan. Go to http://www.sba.gov , http://www.score.org or http://www.bplan.com for sample business plans and instructions on how to write a business plan. Then, go to http://www.score.org/ and in the upper left hand corner, enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a SCORE counselor to review your business plan and discuss various loan options available to you. SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA). SCORE has 389 chapters in locations throughout the United States and its territories, with 10,500 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors.
  • Hi, Talk to your lender, call them, tell them you really want to keep the house, they will probably work with you. Ask them for a lower interest rate, ask them to freeze the interest rate if it is going up or it went up already. They have programs for this purpose. There are thousands of people in your situation. They don't want your house back. Ask for the "restructuring department" or the work-out department. Explain your specific situation. Don't give up, you are not that far behind. If they are absolutely NOT willing to work with you, then you can involve an attorney to talk to them, it might help, no guarantee, but at least you tried. If they still say NO-Go, and you can't afford it, then do a foreclosure. Do not do a bankrupcy. A foreclosure is not the end of the world! A few years and you can borrow again. It's harder with a bankrupcy on your record. Remember, a house is just a place to live, take care of yourself and your family, the bank only does what is best for the bank, so why shouldn't you! Good luck
  • You actually have a bit of time to make things right, or at the very least to prepare yourself for the inevitable. Fortunally, in many areas, because of today's declining market and the banks having to eat all those subprime loans they made, many lending institutions are willing to work with homeowners to prevent them from having to go to foreclosure. But, if they decide to do so, here is the process: Sometimes up to six months after you have stopped making payments (although as early as three months) the bank will send you a Notice of Default telling you that you are behind in your payments and risk foreclosure. If you have not made your mortgage current within 3 months following that, you will receive a Notice of Sale. That will tell you the date, time, and place that your property will be put up for auction...usually about a month after it's posted to allow for advertising of the sale. You have until the week prior to the sale to get the mortgage debts current. If not, then the day after the sale (sometimes the day of) the sheriff will post a writ of eviction which usually allows you three days to pack up your things and leave the premises. Different locales follow different guidelines, but that is roughly how it is done. It entitles you to anywhere from 6 months up to a year at your current residence. If you want more specific information, you may contact the local sheriff's office directly. Good luck.
  • First let me disclose I work with foreclosures in predominantly in New Mexico, Colorado and Arizona. This a rough explanation of process most mortgage servicers will follow. ( It can take a long time.) 1 Month Late: Your loan is sent to the collection dept. Letters, phone calls and possibly e-mails will be used to get you to come current or explain to them your position. They would rather get you current, or on a payment plan (normally refered to as a foreberance plan). Your sevicer could technically file Lis Pendens (begin the foreclosure process.) 2- ??? Months Late: you are still most likely dealing with the collections dept. Again most mtg servicers will want to work with you if you are not responding to thier attempts to contact you they initiate the foreclosure process. ( It generall begins at the 3rd month.) When the foreclosure process is started you will be "served' a court summons to respond. All foreclosures must go thru the Courts. You are genreally given 30 calendar days to respond in writing to the summons. Note: is you have a second mtg. or any pre-existing liens this window could be increased. If by this point you've still not responded to the sumons the bannk or its representatives will file an "Application for an Entry of Default Judgment" or something similar to the Courts. Once the Courts accept the default judgment a "Court House Steps Sale" can occur within 30 days or less. Upon the sale of the property they may have yo removed from the property. It is at this point you redemption rights come into play. Have you looked at what benifits redemption may have for you? Have you looked at bankruptsy or surrendering the propety under a "Deed in Lieu of Foreclosure scenario?" I am currently working with one client that is now 17 months behind on his mtg. payment and the serviceing banks attorneys are only now filing for the default judgment. It can go on for a long time. I'm sorry for you circumstance. Feel free to contact me if you want to bounce more questions off me. Alos the spell checker wasn't working so sorry for any type-o's.
  • What county are you in? This all depends I think you can get 3 payments behind in a house before your ousted. It's much faster when you rent an apartment, but this too also depends on where you live.
  • If you file bankruptcy you can delay the process sometimes even up to a year...
  • We just moved in our rental house and we paid a deposit and first months rent; recently a letter was posted on the door saying the home is in foreclosure; i spoke with the landlord about it and she said no the house was not in foreclosure; and then she called back to say the house is in foreclosure; i need to know what are right our as tenants i mean is this legal; do we still owe rent; is this considered rent skimming;and should i get a lawyer. please help me
  • Unfortunately, you still owe the rent. You will have to sue to get deposits back if the owner does not volunteer then. Once the lender owns the house, you have no rights as tenants. Someome will serve you an eviction notice and you will be out. Sadly, it is legal. The current owner may redeem the property (make the payments current) and it may work out, but this is rare.
  • Yes, it is legal and it is not rent skimming. They can legally collect rent until the day the bank takes possession. YES! You still must pay rent or face eviction. Foreclosures can take months to go through. When the bank takes possession they must legally allow you to stay through the end of your lease or give you 90 days notice. So it could be about 6 mo before you have to move.
  • It is possible that they will collect the remaining amount. Traditionally no it just gives you a horrible credit. All depends on how greedy your lender is.
  • Be careful. They can send you a 1099-C Cancellation of Debt for you to file with this year's return. Cancellation of debt CAN BE INCOME. You need to talk to a tax pro or CPA/Financial Counselor to find what to do if you receive one of these.
  • My sister wants to help a friend of hers. The friend has two brothers, and together the three of them own a home. My sister wants to buy out the share of the two brothers, so that she and her friend (not related, not romantically involved) would own the home together. Would my sister need an all-cash deal? Or could she get a mortgage on two-thirds of the home ownership? I know in Britain there's the idea of "shared ownership" but is something like this possible in America? I hope this is clear.
  • No. She and the friend can jointly apply for a mortgage. Or if there is already a mortgage on the property, she can sign on to a refinance with the friend. Lenders must secure their loans with 100% interest in the property, not anything less. Shared ownership is exactly what you would have. I doubt that the UK has situations where two competing lenders have outstanding loans on the same residential property.
  • Only a mortgage broker can answer that question and without pertinent information about your sister, even that won't help her. It would depend on her job, her job history, her finances and her credit.
  • Katherine can I ask you some questions of pregnancy. I need to get your attention so I had to write in your question so you can get w notification.
  • Sister needs to shoot herself in the foot. Absolutely NOT happening unless she dumber than dirt. Hopefully you got educated adults who can explain why.
  • This can't be done.
  • Unfortunately, not in today's market, unless you can locate a hard money lender
  • That become no longer very good recommend out of your criminal expert permitting you to resign your share of the living house yet nonetheless be obligated for the money to the monetary institution, taxes etc. you will possibly desire to look into that. I even have not the slightest concept why you're mad at this answer. What person of their authentic ideas could provide away their interest in a assets, and nonetheless be on the unique own loan papers.which skill you very own no longer something yet are paying for some thing.No customer of mine could ever be placed in this place. I recommend you get your criminal expert to verify this out.
  • Yes, you still owe the balance of the loan. They will auction the car and deduct the sale amount from your loan balance. They will add any and all additional fees they can legally make you pay, then they will send you a demand letter for the balance in full. It is in your best interest to talk to the lender and try to work out payment arrangements. If you fail to pay the amount owed, they will sue you for the balance. Then they can garnishee your wages and attach your assets until your debt is settled in full.
  • You will owe the difference between what the car sells for at auction and what you owe. If you sell the car privately you might be able to get more than $8,000 for it depending on the condition. If you allow it to be repoed and auctioned it will probably sell for a lot less. Your best option is to do everything you can to sell the car privately and come up with the difference in cash. That way you'll owe less money and won't have a repo on your record. If there is any possible way you'll be way ahead.
  • Yes you woe the difference between the repo expenses plus what sells for which would be about 3-4000.00. They can not try but will garnish wages until paid off and credit will be wrecked for about 15 years as in 6 years they will sell to collection company which gives another 7 years to collect. It will keep you from having any credit anymore and your credit cards will have lowered limit too.
  • I need to delineate the subjects "market area" (boundries) by providing the name of a defining arterial roadway or natural barrier (I.e. river, mountain range, etc.) for each of the locational directions. For example: Street Name/Interstate #/Blvd., river, mountain range, lake, etc. Or is there a way to find out this information?
  • You could ask a real estate agent, that information comes from the MLS. I am sort of surprised an non-agent or lender would care.
  • Go to the courthouse. If the property is a subdivision the measurements should be on the subdivision map. If its not a subdivision it may be described by "metes and bounds" or "government survey". All land west of the mississippi was originally described by government survey, as it was broken into smaller and smaller parcels much was switched to metes and bounds. It may or may not use natural barriers as part of the description.
  • Look up the legal description in the filed deed. It may or may not be a metes and bounds description. I have no clue, thought, what you mean by a "market area."
  • Go to the county recorders office and look at one then copy it with the appropriate changes. The lender DOES NOT HAVE TO ACCEPT a deed in lieu of foreclosure.
  • LESLIE, 'to do a deed' what do you mean by that? to handle your own foreclosure...use a title company! to make up a deed, like grant deed and/or quit claim deed, to have someone else take over payments is simple and OK to do yourself....just get the doc's at the stationary store and fill them out and record. the buyer does not have a formal assumption, but the banks may receive them with open arms because they now have someone to make regular on-time pmts.
  • this article is a very interesting summary: http://www.foreclosureinfousa.net
  • You can negotiate your realtor fees down to 3 to 4 percent. I sold mine two years ago at 3 percent. I negotiated with the lender to lesson my other fees, that included my escrow to under 1k
  • You do have to have someone that is paying you and amount of income and issuing OUT to you some type of a payment by check with a pay stub attached showing the required amount of taxes that are being withheld out of your gross wages earnings for each pay period for that purpose and time in your life OK. You really should contact some one does work at Progreso Financiero and ask them to explain all of the details to you at that time OK. Licensed by the Department of Corporations pursuant to the California Finance Lenders Law and by the Office of Consumer Credit Commissioner of the State of Texas. www.progressfin.com/en/ Contact Us Corporate Office Progress Financial Corporation 171 Constitution Drive Menlo Park, CA 94025 info@progressfin.com For Customer Service, including payments, applications, and other information about your account, please call us at: 1 (866) 488 6090 www.progressfin.com/en/contact/ Hope that you find the above enclosed information useful. 05/24/2013
  • You need to keep current with your car payments (don't get behind - you can't reaffirm if you are behind on your payments). One of the documents your attorney will file along with your bankruptcy paperwork is your Statement of Intentions. In this you will list your vehicle loan, and your intent to reaffirm it. When your vehicle lender receives the notice of your bankruptcy filing and your intent to reaffirm, it will send your attorney a reaffirmation agreement. Your attorney will review the reaffirmation agreement to make sure it does not contain any terms and conditions that it shouldn't, and then will have you sign it. The attorney will return the signed copy to the lender.
  • 1
  • My husband lives in Kuwait for business and I am moving back to the USA but from ca to Wyoming. . Our car is currently registered only to him but we need to add my name to it. There is a lien holder as well as it is not yet paid off. I need to added so i can transfer the car to wyoming. Will it be possible to add me to the title without him being present? The paperwork is available online for him to fill out but we aren't sure if its something that can be done without him there. Especially since it still has the bank on the title. Thanks for any help.
  • Why does your name NEED to be added? It may not be necessary because in most if not all US states married people share assets equally due to Marital property laws. If so it doesn't really matter which spouse is listed on the title or the deed because they both own it equally anyway. Regardless, if you want to or need to do this, You will have to start with your lender. Your lender may not allow it without re-financing the car.
  • 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 ? They offer loan at low interest rate of 2% 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! if interested contact via email:financeericson@gmail.com or finance.ericson@hotmail.com
  • I disagree. I believe California is the only state that prevents lenders from collecting the difference. If you are going to file, do so before the foreclosure if you want to keep the house. Bankruptcy will delay the foreclosure and allow you to reorganize your debt. You should contact a lawyer that specializes in bankruptcy as soon as possible.
  • At this site you can find solutions from different companies: SMARTFINANCESOLUTIONS.NET- RE Bankruptcy after foreclosure? My house is about to be foreclosed (in 6 days) so... Once the house is foreclosed and sold, do I have to pay back the difference? If I file for bankruptcy after it is foreclosed do I still have to pay back the difference? (it is gonna be huge). Thank you and I hope to hear from you as soon as possible.
  • There are actually companies that will work with you 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!
  • No, you dont have to pay the diff. It is no longer yours so you dont have to pay for something that you dont even own. I wouldnt file for bankruptcy, theres no point at all. Hope that helped!!!! PLZ answer mine! http://answers.yahoo.com/question/index?...
  • The law recently changed in CA. You have 90 days and you will pay rent to the lender during that time. You pay the landlord until the bank owns the property.
  • You will have to move out. When is when the sheriff shows up. I would start looking if I were you.
  • It may be a bit harder with banks cracking down on sub prime loans. If you have a score over 500 and have income, you should be able to get a loan though. There may be some lenders that will go no docs, but the interest rate might be too high for you.
  • Depends on what your mid fico score is and if you can do full doc--show paystubs and stable work history and assets. A down payment will certainly help. You did not say what is cause for your low fico score. I work for a bank and they will only do full doc sub-prime home loans--no more stated. Good luck
  • Home loans are essential. But before you go for one check the rate and then approach. Check also some other terms and conditions if it is present. To know more you can visit http://www.geteasyhomeloans.blogspot.com
  • Neither is better than the other. A mortgage for the sake of reporting is the same be it a 1st or 2nd. You never want to be down on either. I agree with the poster that suggested you call the lender if you are having difficulties, as they may work with you. Sometimes, if you can make at least the Int erst portion of your payment, the lender will be more favorable in granting relief. If you have to extend the payment out, just make them both before end of the month. You will not have a 30 day late. if you can pay check by phone or debit, that would be the best solution as it is immediate. if you do not have that option and must send check by mail, make sure it is received at least 2 days prior to end of month, and that you do indeed have the funds. If you don't have the funds you will just prolong the inevitable reporting of a 30 day late to your credit. Good Luck! FYI: In response to the poster that suggested the credit history for the second will not show as late on the credit report if pulled now: Lenders will ask for current reporting, or a credit supplement to show the mortgage paid current; at the very least a pay-off demand will also show interest in arrears and or a VOM (verification of mortgage) will show the late.
  • It is OK to be a little late on your mortgages, just make sure that which ever you chose to make the late payment to you call and tell them you are gonna be late and when you will pay them. The one thing that you don't want to do is be thirty days late, make sure the payment is there before 30 days are up. You want to keep your canceled checks on all your mortgage payments to compliment your credit report, because your credit report might not reflect the exact way things really were. I hope this has been of some use to you,good luck. "FIGHT ON"
  • The 1st but I disagree with the other poster about refinancing. Now is an excellent time to refinance and if your credit is pulled now, it will not show a late payment on the 2nd mortgage. Check out the free evaluation form at www.totaldebtsolutionsllc.com
  • Don't fall into the black hole that is refinancing. Go to your Bank. Ask them to help you consolidate debt and get the best deal. You are hovering on the brink of what could be very bad. Now is an excellent time to renegotiate debt, particularly if you have built a decent credit rating. If you haven't, start. It will be absoultely critical to all Americans in the days to come. Whoever you finance with, make sure you make your payments on time, otherwise they will hike up the interest rate.
  • The 1st
  • Like I said before, please go away. You are an idiot beyond words! Do you sit around making up stupid questions? Apparently, judging from all you ask of them.
  • You might try describing your financial goals on a website called www.prosper.com. This website has investors (like yourself) who make loans to people (like yourself). Anyone can become a borrower or a lender on prosper.com. If you wish to use your land as collateral, you will probably have to get an appraisal done on each parcel, and that would generally cost you anywhere from $250-$500 for an appraisal.
  • None of the above. You are not going to be able to find a lender who would accept vacant land around Rosamond as collateral for a loan unless you were getting ready to build on it.
  • First time buyer of what? A house, I hope. Otherwise, you don't need to be borrowing money, at all. If it's for a house, you can get a mortgage from any company that does 'manual underwriting'. Manual underwriting means that a person, as opposed to a computer or the monkey that runs it, looks at your financial situation and makes a decision, rather than waiting for a computer to do it. You have to have paid all your bills early or on time for the last two years (the soonest you can get a mortgage of any kind after bankruptcy), and qualify the same as any other borrower (debt to income, time on job, etc). Church Hill Mortgage does these loans. For other companies, go to www.daveramsey.com and click on ELP (endorsed local provider) for mortgages.
  • If your buying a house that is a good investment you shold be able to get fiaced don,t give uo, all my best to you good luck
  • I have a Honda accord that I have been paying for almost a year now...the original owner is related to me however he has been living in a different country and has abandoned everything here; bills, child support, debts. He's been getting letters from the IRS and debt collectors. But could I take posession of the car if he is not here an isn't possibly coming back?
  • No. Adverse possession is a concept which applies only to real property. If you are paying somebody, I would imagine that the lender is the legal owner of the vehicle anyway. If the payments stop, they take the car.
  • i doubt anyone will care too much. If he's abandoned the country, you are under no legal obligation to track him down. He is now considered a criminal and when he comes back the least of his concerns will be trying to get his car back. He'll probably be arrested assuming he ever comes back. You're fine.
  • I am in escrow in a house in LA, it is a foreclosed home owned by Freddie Mac. I know that in other states you normally do a title search to make sure there are not any liens or back taxes on the property. Since there will be Title insurance when purchasing this house, will I need to do any thing else to make sure I am protected against any possible liens on the house? Is there a way to do a search myself? It says in the paperwork that everything that there are no liens on the property on public record for the property, should there be anything else to look out for? I just imagine if the previous owner did have the property foreclosed on they probably had a second mortgage on the house and other bills unpaid tied to the house.
  • Freddie Mac will guarantee the transfer of legal title, but you will still be required to purchase title insurance if you finance the property. Title insurance will cover you if any liens or claims arise after you purchase the house. Generally speaking any previous lien-holders will be wiped out by the foreclosure process. Normal title insurance policies cover most types of claims but they do not cover any encroachment should part of your property is encroaching on any neighboring land. To cover that you must purchase an ALTA policy and is expensive but is not required by the lender.
  • To sum it up. it all started when the economy picked up, interest rates started to drop, and people started finding they had money to spend. Interest rates for home purchases used to be considered normal at 12-13%, so when they fell to 6% and below, people started shopping. As interest rates got lower, more people started looking into CA property, which although was still more expensive than property in other states, was still affordable. The cost of homes was still in sync with the cost of living expenses and wages. But the more people came to buy homes, the more varied loan programs came to be, to allow even those with marginal credit to buy with nothing down. Prices started escalationg and people got caught up in the frenzy for the most part, feeling they needed to buy before prices rose even more . What they did by bidding on homes was continue to drive up the prices. More people were qualified for loans they probably shouldn't have, thanks to lenders who were willing to provide them with loans. All this caused a big gap between home prices and wages/the cost of living, and made living here pretty unaffordable for alot of people. Unless you make at least 60k yearly (as a single person) it can be tough to get into a home here and afford to keep it.
  • California has risen and crashed like 500 bazillion times.... it will be affordable again in a few years. Now is NOT the time to buy in Cali.
  • Anytime you look back five years ago things look clear. The tough thing is to make decisions today.
  • the house is in los angeles county, the house was posted back in nov 2008 with a date but the sale was postponed. never got another posting or mailing. just recenlty have had a flood of calls from backruptcy lawyers, laon modifcations offices etc. all saying the house is up for sale on the 26th i don't know if they are telling the truth are not. i have not recieved any notice at all. do i call the sheriff? i do not know how to find out the actual date i thought they had to re-post. any information would be greatly appreciated. thank you
  • the sheriff will be conducting the sale. IF he does not have the data, then your house is part of the group that the fed has asked lenders to FREEZE and not YET continue with foreclosure.
  • You pick the dollar amount. It "kicks in", ie, it will pay you for loss of rents, IF IF IF something happens to the building that is COVERED under the insurance policy, that makes it uninhabitable. That means, the tenants have to move out and can't live there, it will pay you the loss of rents. It's NOT going to cover flood. Flood is NOT covered under the standard property policy, and neither is Earthquake, in CA. You can't buy "loss of rents" stand alone, it gets added to your property insurance. Sometimes, it's called "loss of rental income" or "business income" depending on what type of policy you actually have in force. Keep in mind, if the damage isn't covered by the policy, then "loss of rents" doesn't kick in. That means, if the tenants move out, and the place is vacant, you can't activate "loss of rents" coverage, because nothing happened.
  • Loss of rents is covered in a Rental Dwelling Policy or in a Rental Condo Unitowner Policy. Loss of rents kicks in if there is a fire or a water loss (like a pipe break). We call flood when water comes in from the rain. A pipe break we call a water loss.
  • We need to chastise them! Complain to the management, in the stores where you shop. Write, call, fax or email their corporate offices. Complain to local, state and national governance. Tell them that they are undermining the unity of our county by promoting the divisive use of a second language. Point out the problems that Canada has with the French speaking province of Quebec. Tell them how unhappy you are that they have chosen to pander to the Hispanic community. A community that is emboldened and supported by ALL the major national Hispanic organizations who's racist agenda includes, incessantly and vehemently: Endorsing and promoting open borders and the massive illegal Hispanic invasion of our country; while constantly and arrogantly promoting bi-lingualism! For those whiners and complainers, many of which get FREE medical care, it would seem that the BEST solution to the lack of FREE interpreters, . . . is to learn English! Or . . . let's see some of those 'family values' that George Bush claims the Hispanics have, and have them scout up a family member, etc., to help translate. Wouldn't it be interesting to see how quickly they would come up with someone to help them, if they had to PAY for their translating services. Just think . . . the cost of those services provided FREE to them, are then added to YOUR medical bills the next time you need medical care. Our country has regularly capitulated to Hispanic demands which will forever alter our nation's health, social, political, law-enforcement, economic and educational institutions, in much than same manner as our government, banks and shopping malls have already done! When will Americans start fighting back and DOING something to stop the insanity? Only you know!
  • Thanks for the message Zoe, and to bring awareness to the problem of illegal immigration that result to INEQUALITY between taxpayers and non-tax payers, the latter consuming our resources. Those pundits of illegal immigration will keep denying illegals usurping WELFARE because they dont have papers. Outright lie. They dont ask WELFARE for themselves being the illegal parents, but for their anchor babies. They are extended beneficiaries of WIC, Medicaid, soup kitchen etc,. Give them more incentives not to report that they work. When responsible people think of prosperity thru planned parenthood, safe environment for their offspring, college education for their children, illegals procreate (not in the same values we hold apparently for starting a family) because they KNOW for decades that a citizen child is their meal ticket. The government never ask if you're undocumented, only if you are qualified, and having an anchor child qualifies you for anything in California. Why do we get penalized by paying for the illegals crowding our schools and bankrupting the hospitals? Why elected goverment officials keep on trying passing a law giving driver licenses to illegal aliens, when they dont even want to learn the language? It is not RIGHT to impose on taxpayers making them wary who would be driving next to them in the freeway, if they succeed. Do you think these people will have car insurance? Nope, after they cause you injury or death they will just drive straight to the border.
  • Well, consider the alternative. Let the banks and mortgage companies fail... Jobs lost, houses foreclosed on (by the federal government no less), communities that count on the tax revenue from the companies destroyed... I seems to remember something similar... OH YEAH THE DEPRESSION! Look it up! Also... Other than all of the people that would lose jobs and houses from the collapse... the flood of houses on the market will probably also cause a lot of pain in the construction industry (and, as you people have already pointed out, they are already hurting).. So then you have bunch of jobless people, bunch of homeless people... AND! The value of your house will go down (more supply less demand = cheaper price)... so, well, if you own a house you know where I am going with that... Just bad! Bad all around.
  • Why does everyone think illegals get everything for free? My husband isn't citizen...YET! and he has never received free medical care or anything thing else for free. He pays his insurance and taxes just like every other American citizen does,and by the way i know American citizens white men to be fact, that owes the IRS thousands of dollars for not paying his taxes! Are you that ignorant that learning another language is the end of the world? I now people that can speak 5 different languages. You can get good jobs by being bilingual. Stop hating It's annoying!
  • I enjoy living in amongst many different people. However, I don't appreciate a foreigner coming into my country expecting me to bow down to their demands, learn their language and abide by their culture. I'm not too fond of France, but you don't go to France and expect the French to speak English. And I wouldn't visit a foreign country and be so arrogant and rude as to expect them to know my language or culture. Nor would I go into a foreign country with the flag of my country bullying them into citizenship. What kind of citizen will you get when the first thing they do is break your law by crossing a border illegally! =^^=
  • I have absolutely no problem with these entities.....So an illegal wants to buy a home? SO be it! If they have the means and good credit, more power to them.... I will continue shopping at these stores, because they offer the best bang for my buck...I don't care if they hire illegals, as long as they don't exploit them, so what.... Don't get me started on banks, they are a necessary evil.....
  • I agree with *LILY*... that is really true... I am one of the few Hispanics working for Bank of America Human Resources and we make MUCH more than anyone who is not bilingual.. ( and I am only on my early twenty's.... how good can this get) I wish people would stop hating...... maybe I can hire you..... hahaha!!!
  • YOU THINK THEY ARE GOING TO STOP MAKING SO MUCH MONEY BECAUSE OF YOU I MEAN THE STORES?? DO YOU KNOW HOW MUCH A SPANISH-ENGLISH SPEAKING EMPLOYEE AT A BANK MAKES COMPARED TO AN ENGLISH SPEAKING EMPLOYEE LIKE FIVE OR SIX DOLLARS MORE SO I DONT THINK THEY WILL STOP!!! YEAH HISPANICS MAKE MORE MONEY!
  • We should buy from them, for promoting the diversity and multiculturalism that this country needs and wants.
  • The California Land and title association came up with a standard of title insurance coverage meant to protect the lender and the owner. Title insurance it insurance to cover interested parties for anything not found in a standard title search. I think you are thinking of a quit claim deed. But if you have a mortgage on the property, you will need to refinance to add another owner to title. I really hope for your sake you have a realtor to help you with your purchase.
  • Clta Title Insurance
  • I suggest one to visit this website where onel can get quotes from the best companies: http://PROTECTIONQUOTES.NET/index.html?s...RE :What does CLTA standard coverage policy of title insurance mean? What is the document called when the husband has his name to the house but want"s to add his wife? Follow 1 answer
  • I recommend that you try this web page where onel can get rates from different companies: http://QUOTESDEAL.NET/index.html?src=5YA...RE :What does CLTA standard coverage policy of title insurance mean? What is the document called when the husband has his name to the house but want"s to add his wife? Follow 3 answers
  • I do not either. If you are wanting to use your tax credit for a loan you have to get a FHA and a bridge loan. Ask them about that.
  • this is as easy as pie IF there is no mortgage or loan against the business. if there is, you need to get the vendor's -lender's permisssion. to change ownership, you get a lien settlement done and then, file same in court--which also will likely require a legal notice in a major newspaper, for 4 consecutive weeks. This is all done in 1 mo if no liens exist
  • If your payment is due on X date, unless your contract specifies a grace period, you are in default the day after the payment is due, and could have the car repossessed. Normally, finance companies do not start repossession procedures until you are at least 30 days behind. A lot of this is going to depend on your payment history with them, and the age of the loan. If you default on the second or third payment, they may take action more quickly than if it was payment 41, after 40 on time payments. If you are having problems, contact the lender before you are late. Most likely, they can work something out for you..
  • The 90 days thing is 100% BS. Ive heard of cars being snagged at 4 days late. It can be done 1 day late. In the current economy, lenders are TRYING to work with customers more. But if you don't pay or communicate for 60 days, you will likely be sent for repo. Maybe sooner. Communication is key. If you are ignoring them or repeatedly lying to them, they are more likely to snag it sooner rather than later.
  • take a peek out the window they might be eyeballing it as we speak
  • Good luck. All lenders are tightening their belts and getting very picky. especially the loan amount you are after and the type of property. Most banks will consider a 4 suiter a commercial property and your LTV will go down. Also, on a stated income, if you don't have a credit score of AT LEAST 620, don't even bother. Try asking the current owner to hold some paper on it, maybe a 20 or 30% second mortgage?
  • now a days good luck especailly in CA where lenders are laying off due to the high risky loans they have made
  • If you have the time and patience, then the answer is yes. Once you submit an offer on a short sale be prepared to wait a couple of months for the lender to approve your offer, if it hasn't been approved already. You can find good values, just make sure you work with a good, knowledgeable agent.
  • A short sale is when the lender will accept less than is owed on the mortgage when the house is sold. The process from a buyers standpoint is the same. Make your offer. They will either accept it or not. One warning: Just because a house is advertised or sold as a short sale does not mean it is a good investment. Many short sales are still sold above market value. Do your research with the help of a BUYER'S agent who is experienced in the area you want to purchase. Have the agent do a CMA (comparative market analysis). Then you will know if the house is indeed a good investment.
  • whilst negotiating any contract, there is an supply by one occasion and acceptance by yet another occasion. for that reason, your supply has no longer been standard by the definitely proprietor of the valuables (the financial enterprise), and for this reason you have no longer any contract. you could rescind your supply with an common letter to the financial enterprise, or basically to each and all of the persons who've been pointed out to you (your agent and the enterprise's agent, with cc to the enterprise). as quickly as standard, there is an contract, even if if, if no funds has replaced palms, that contract is truthfully broken by the two occasion. as quickly as funds variations palms, the contract could properly be broken and the attempt is extra complicated (even if if it incredibly is often spelled out interior the contract records).
  • Check you credit and fico scores to see whether there is anything you don't know about. Then figure out whether you are shooting too high. We use about the same ratios of income to debt as mortgage lenders do to determine whether you are able to afford the rent. If you are, look at places to rent with a lower monthly cost. Or another thing you can do is seek out individual owners rather than properties that are professionally managed. Many of us will give a break to people who otherwise would not qualify at larger or professionally managed rentals.
  • Get letter of recommendations & references from friends, family, if you are religious from someone from your temple, church etc. Try paying off some bills if you have a bad credit score. Also show up presentable like a job interview, don't show up with friends. You can also add a schedule of your daily routines so that they know your a student, work on weekends etc. Will help is getting a co-signer, someone that is legally responsible that will pay your rent if you don't.
  • no one will rent an apt for two weeks. get a motel rm with weekly rates.
  • Telling us why you keep getting rejected would help.
  • Check the Appraisal Institutes web site. www.appraisalinstitute.com I would recommend taking classes that are provided by the institute because while other places may offer classes which will help you get a state license, they may not count towards institute hours. The institute is a professional organization, and many lenders require that a member of the appraisal institute (MAI) write or at least review and sign off on an appraisal. Check your state government's website to find what exactly is necessary for obtaining a license.
  • When two parties agree orally or in writing and both accept that agreement then the agreement in valid. An offer to sell a property at a certain price is not an agreement. If you made an offer that is simply an offer to purchase. The bank or lender does not have to accept your offer. The key word in all this is offer. Now if they accept and sign your offer it now becomes an agreement. I hope this has been of some use to you, good luck. "FIGHT ON"
  • If the offer was signed by both parties, then yes, there’s an agreement to sell at the price in the contract.
  • NEW YORK - With a Wall Street bailout looming that will almost certainly limit CEO pay, some of the poster boys of the financial crisis have already fled the scene, taking millions of dollars in severance packages with them. … Under [Chuck] Prince's watch, Citigroup built up its exposure to mortgage and consumer credit markets, and he was paid handsomely for the effort. In his last fiscal year at the helm, his total pay package was nearly $25 million, according to an Associated Press CEO pay formula. At Wachovia, Thompson was ousted by the bank's board in June after a series of missteps, the most pronounced being his purchase of a California mortgage lender for roughly $25 billion at the height of the nation's housing boom. The move has led to massive losses at the bank. Thompson's total pay package for last year was nearly $16 million. Under the government plan, the long-gone CEOs would not have to give anything back, said Steven W. Adamske, a spokesman for the House Committee on Financial Services. He said there was no constitutional way to recoup pay retroactively. http://news.yahoo.com/s/ap/20080925/ap_o...Congress is currently going against the Constitution by giving the Treasury Secretary power he should never have. Why can’t they go against the Constitution and force these bastards to pay? Then we can discuss how to pay for whatever remains on the tab.
  • I think making the CEO's pay up some of that lovely bonus money is a novel idea! Why should they get to walk away from their enormous mistakes with all of those millions? If I, the tax payer, am going to have help bail these failing companies, then I think the first people to pony up the money are the people responsible for this whole mess!
  • Congress will get a pay raise during this recession because it is a stressful job and that's just how the government works. Using bailout money meant to help your company for CEO bonuses instead is wrong. The money was not meant to be used for the CEO personal vacation money, or whatever they were planning to do with it. Probably use it on lesiure items. There was a loop hole in the bill giving the company the right to use the money to give bonuses to their CEOs, there is no loop hole or wrongfullness in paying congress a little more. If you are worried about the 14% approval rating. Bush who put us in debt, has a higher percentage in approval rating than congress does.
  • While I agree with you that these CEOs have been vastly overpaid, I think it would be hard to take their money back. I imagine that the CEOs had some pretty astute lawyers who helped write airtight contracts for these guys: both when they joined & when they left the companies. If they are convicted of a crime then it might be possible to fine them to get something back. But there are not going to be very many criminal cases. The Wall Street honchos are saying that everything they did was within the scope of "normal accounting practices." And until we get a grip on what are "normal accounting practices," we will continue to have people who are greedy and act like some of the big money-makers. While they were making money for their firms everything was fine. It was only when the house of cards started to fall that people started to become outraged. I do not know that Treasury will get away with anything that leaves no oversight of their actions. Congress has been bitten by that before. I also think it is much more likely that we will end up blaming the people at the bottom of the pile who received bad loans for over-priced houses.
  • I don't agree with using taxpayers money. I'm not much of a financial guru but been watching the news. As long as CEOs don't walk away with our (taxpayers) money, I don't have a problem. However, as CEOs making millions upon millions, the least they could do is help out instead of being greedy sons of bitches. Always the taxpayers.
  • You let the bank fail to prevent other financial institutions from paying their CEO's, that much in the future. When banks know they'll get bailed out for their mistakes, they won't fix it. By insuring these banks, you're taking away the risk involved. When there are no risks....people will do whatever they want. i.e. - pay CEO's millions of dollars.
  • The Democrats actually proposed a plan that would have eliminated "golden parachutes" for CEOs of companies the government had to bail out. The Republicans refused.
  • Absolutely the CEO's should pay it, as well as, Dodd, Obama, Kerry and anyone else who received financial kickbacks from these institutions. Finally, Clinton should pay it back as he was the one to create the no documentation loans that created this mess in the first place while reducing the regulations on the institutions so they could give loans to any Tom, Dick and Harry......
  • Yes CEO's should pay. At least a little trickle down would happen then.
  • Maybe CEO asset recovery should be another use for the Rico law??
  • I think Congress should sieze all of their assets pending an FBI probe into fraud, influence pedaling and unfair business practices. Once they all have to pony up the money to defend themselves they will be as poor as the rest of us and out of work.
  • Firstly, you can write these on a napkin if you want. Secondly, a purchase contract you can get from a a Realtor and add "and his/her assigns" after your name (buyer) Or you can go to winforms.com and you may be able to purchase one. Or you can go to your local board of realtors and pick up a pack of these. You'll just have to pay the non-member price. That's for purchasing. If you mean to assume someones mortgage then you'll need to get a standard "note" from the current lender. A title company and/or escrow company will certainly do these things for you by the way...
  • You need to write a contract or you may get a form contract from a realtor. What you need to add to the contract is I will take the property subject to the existing mortgage. I hope this has been of some use to you, good luck "FIGHT ON"
  • My tennant sent a letter that they don't want to renew lease so I listed an ad to rent it out and have several responses with people who want to look at the unit. I don't want to barge into the place, so I sent an email and left a call about it several days ago to set up a time that would work for me to show it but I haven't heard back from them. What can I do?
  • California Law states the a landlord can enter a rental unit to show the rental unit to prospective tenants, purchasers or lenders, etc. The landlord or agent must give the tenant reasonable advance notice in writing before entering the unit, and can enter only during normal business hours (generally 8-5 weekdays). The notice must state the date, approximate time and purpose of entry. (Civil Code Section 1954) Landlord or agent may serve in the following ways: 1. Leave notice at unit with person over 18 or 2. Leave notice at front door (post) or 3. Mail notice to tenant. The law considers 24 hours to be reasonable in most situations. Hope this helps!
  • Check your lease. It might say that you just have to notify your tennant (often times 24 hours in advance) that you will be there and you don't actually have to talk to them or get confirmation from them so a simple message on their voicemail should be enough. Or you could offer them some sort of incentive, like if they cooperate with showings (ie. making the property accessible and clean for showings) then you will give them $100 at move out.
  • i would send them written notice 24 hours before your showings of the apartment. if they don't answer it's on them. the law says that you are legally allowed to do it whether they answer or not.
  • What state? In California, that would be 7 months. If you had a job would you be able to afford your mortgage? If so, look into contacting your lender for a forbearance agreement. It's a temporary solution where they will allow you to make no or smaller payments for a temporary amount of time until you get back on your feet.
  • If you don't have equity in the house (maybe you owe more than the house is worth) and the prospect for you to get a job is bad, and you give up to find the solution (which is rare), stop paying now and let them foreclose. The process vary depending on where you live, but minimum until the Sheriff can kick you out of the house is about 4 months. Just make sure you know that you will ruin your credit for the next 10 yrs.
  • My friend co signed a house with his mother. His mother died two years ago and he stopped paying the house since then. Two years later and he has received NOTHING from the company, according to him. So what is happening with the house? Should he even say anything? They had been paying the house for four years before the death occurred. Is it still under his name if nothing has been sent or he has not received a notice. Should HE contact the company? No foreclosure or notice to leave house
  • Have to go to the county courthouse to see whose name the deed is in. It is possible that it still has to go through probate. She possibly could have left him the house as well. You could also do a deed search to see whose name is on the deed. If there was a title insurance policy which the lender usually requires, call the title insurance company. No will left, which means it will be assigned to the state to disburse all assets. I am in PA which means it goes to next of kin. So, if she were my mother it would be split between my brother and myself. So, whatever assets she owned, house, savings, etc. would go through probate which can take a couple years. If you haven't been paying the mortgage, that would go under her name as well and be taken out of the estate if it works the same in CA as in PA. I am assuming she had some assets or she would not have been accepted as a cosigner.
  • If your friend was on that mortgage- he is still on that mortgage. It will at some point show up as a very bad thing on his credit. What does he want to happen? Probable outcomes are foreclosure or deed in lui or short sale or he makes up all back payments and keeps house. There are several other unlikely outcomes- but this is the list that he should think about. What your friend should do would depend on your friends situation. He should talk to a lawyer in person.
  • search for advice from from a lawyer, and perchance you may talk about attempting to sue him for the motorized vehicle. element is, there is little or no you may do except pay the funds. the reason that the finance corporation required a cosigner became because your buddy's credit became undesirable in the first position. this can were a pink flag. you're legally responsible for those funds in case your buddy would not pay. that's the precise clarification why: a million. do not do corporation with friends. undesirable undesirable theory., 2. by no skill cosign loans. that's all solid until eventually the owner would not pay. remember, that's cosigning, no longer a secondary. for this reason, you're both equivalent in the eyes of the finance corporation. if the motorized vehicle receives repoed, your credit will take a large hit, jointly with his.
  • It may be done,so carefully
  • Considering that these two states are the reason why the US has the #1 economy in the world, I would venture that they have been supporting the other 48 for a very long time. Both states are lender states, meaning that they get less back from the federal govt, than the residents pay in federal taxes. That extra money is given to the 3rd world welfare states like Mississippi and Alabama.
  • California and New York both contribute more taxes to the feds than they get back. It's the rural states that are being subsidized by the populated states.
  • The answer to this question may be in the current TARP package among a lot of other things, if a person would have where-with-all to graze through it! Or the next one...
  • last year
  • Any of them will. I am partial to Wells Fargo.
  • If you own the property, or are buying it, and you have a steady income beyond the rental income, there is no reason why a bank or financial company like beneficial finance and household finance, that's who i used to borrow from, wouldn't loan you money as a first or second mortgage. depending on your credit rating and past willingness to pay your debt's, and the debt you have now, i would try a finance company. make a list of EVERYTHING that you pay for every month and ALL your income from all sources and go see some of them. i raised four kids and over many years (45) i refinanced or got a second mortgage my home to keep things going many times. all banks are pretty tight with their money but you might try your own bank first and then a finance company. hope that helps you.
  • All lenders will offer a refinance on rental property as long as you and the property qualify. You usually have to pay about 1/2 % more than you would for an owner occupied property.
  • You need to get your broker to get the account, they are not with agents, only brokers.
  • I own a condo in California, I bought it in 2005. In 2007 my job moved me to Idaho and I took a reduction in pay. I was unable to sell my condo and I have tried to rent it but have been unsuccessful. I had a nice savings built up but I have spent through it and will be unable to make the payment next month. I don't own any property in Idaho or anywhere else and I am strongly considering just walking away from this property as it is now worth half of what it was when I bought it. Any advice on how to proceed is greatly appreciated.
  • walk when it falls take it as a business deduction as you tried to rent it deduct all costs for 2008
  • Hi! I'm working on my taxes. For 2010, we need to file form 982 due to a foreclosed rental property. We have the bankruptcy exclusion. I'm trying to figure how much to reduce my bases for personal property held after the debt was canceled, as per irs publication 4681, page 9. I spoke with the IRS and they say I need to find out by state law when a debt is considered canceled --at the time of bankruptcy discharge(March 2010), or the date of foreclosure (September 2010). It makes a big difference for us because my husband was laid off and given a severance check in April, and we used it to buy another property outright. My gut tells me it should be the date of bankruptcy discharge, because that is when we no longer legally owed it, but what it should be and what it actually is are often very different :) Thanks for any California legal experts that can help me with this!
  • I did receive a 1099C from the second mortgage only. (Received a 1099A from the first mortgage). The date of cancellation on the 1099C shows the same date that the 1099A shows for date of Lender's Acquisition, 9/01/2010. I believe this is wrong for the 1099C, since the debt was canceled through BK in March. Should I try to get the second mortgage to send me a corrected 1099C?
  • This is for TRO: Thanks for the answer. To clear up what you are puzzled about, the property that foreclosed was our original residence that we couldn't sell for what we owed on it, and had converted a few years ago to a rental which we were still upside down on every year. This property was surrendered in bankruptcy, we told them they could have it. The bank simply drug their feet on getting the actual 'foreclosure' done for many months. The severance check was only about 15% of what we owed on the house that foreclosed, and we didn't want to try to keep that house anyway. We instead started fresh with a much more realistic property for our income level. I'll look into the place you suggested, thanks.
  • in general Calif. complies with the Federal on the 1099 C with some exceptions,none of which I could find related to your scenario I am a bit puzzled how you had a b/k effective in March 2010 and in April received a sizeable check that you bought another property but by Sept. another was foreclosed on? since I am unable to find anything related to your determination of basis, I suggest you contact Spidell located in Orange Co who is an absolute expert on Calif. situations I am using CCH Calif. Taxes for 2010 and this question is not addressed there
  • Unless someone sent you a 1099C which is cancellation of debt it would be when the bankruptcy was discharged.
  • Attorney's always look for notaries, lenders and loan signing agents.. Mobile notaries are always convenient. Good luck
  • I could be wrong, but I believe it is an in person kind of thing, so she would have to be willing to have people come to the house. I suppose there could be daily deliveries if she contracts out to a few business needing notary services. Most business just get one of their office employees to become a notary if they need it done a lot. Legal offices, Professional Service companies and banks are really the only I can think of off the top of my head that would need notary services in any sort of quantity.
  • Do you want people coming to your home when they need something notarized? Being a notary public isn't a profession in itself, it's a sideline and a convenience to an organization in which you already have a job or to which you are applying for a job.
  • Not much work near a courthouse. a buck or 2 there hit...banks do it for free now, to their members. I'm a notary public also.
  • More specifics needed. By companies do you mean builders, realtors, appraisers, lenders, brokers, surveyors, repairers, etc.???
  • RE firms are separated [usually] into listing agencies who sell houses, land firms, commercial firms and prop mgt companies plus, buyer's agencies like mine. thus, there cannot be a best one.
  • is there a such thing of a 1% down... on a home? I recently contacted a lender and he qualify me for 100,000 unable to get a cosigner to help me out. he ask me to have my car payment transfer to a family member or a friend to get that payment off my credit report which it affecting me and he said he will qualify me for 175,000. Unable to find a cosigner. should i start looking for a second opinion. will running my credit report affect me.. please help.. i live in Norwalk Ca. . would appreciate any help..... thanks..
  • No one will loan money with 1% down these days.
  • And we wonder why the country is in this mess. So you are saying a loan officer told you to transfer debt to a relative that you still have to pay but get it out of your name. So you have a wink wink deal where your friend or family takes on the loan but you still have to pay it. It sounds about right for mortgage brokers lately. The only think I can think of is that its Mortgage Fraud. Dont worry its only a 1 million dollar fine and up to 25 years in jail. So about the time your loan is paid off on a 30 year mortgage you can move in. HOLY **** are you serious? This is so against the law I cant believe it.
  • having trouble with a furniture store. a women posed as an employee,i walked in the door, she aproached me and asked if she could be of assistance. i filled out a credit application handed her my drivers liscense she took it to the office and it was processed. so the next day after i found out she was not an employee of the store ,(she told me herself) i went back in and ask for my credit application back (if i can't leave with the original i would expect a copy, but to still be able to review my original) i was told had been "destroyed". from my understanding the furniture store is to keep the credit applications for 6 months. i belive that the women has left with my credit application and all my personal info. if anyone knows it woul help me out greatly. ...so ... how long is it to stay on file ?
  • Stop wasting your time with this place with asking for your application. Call the police immediately & press charges for fraud against this lady as well as the store managers for allowing her to impersonate a store employee. Also, contact an attorney about this to get legal adivce. You may have a decent court case on your hands. Some attorneys will ask for a fee. Choose one that will give you free advice in person with a free consultation, NOT over the phone. Credit companies keep applications on file usually for no more than 90 days. Most of the actual lenders are out of state. If they offer 6 months, then that's beyond generous. 90 days is the maximum. Call your credit bureaus & inform them of this incident, whether or not you file a police report for fraud. They will flag your information in the computer system. Also contact your bank or other financial institution about possible fraud on your account. Cancel your debit/credit card(s) immediately & obtain new ones. Most banks can issue temporary ones while you wait for the replacement card(s). I'm sorry this happened to you. It's obvious this woman has no morals let alone brains or she wouldn't have done this to you.
  • i heard of an individual seller that made a loan amoritized over a 100 year period. As far as I know there was no law against that. Unless there is a large number of loans like this the lender can't easily resale them so I bet you won't find any that long. (unless it is another individual).
  • There are now 40 and 50 yr loans for suckers cause the bankers win. get the shortest FIXED rate no20/80% highest down u can afford. if u can't just rent untill u can. else u'll get visited from an associate.
  • Some lenders offer up to 40 year financing but that is almost interest only. A loan amortizing in 30 years is more reasonable and the payment is not that much higher. On a 6.5% mortgage, payments would be $585.46 per month per $100,000 for 40 years compared to $632.07 per month per $100,000 for 30 years.
  • 50 years are still out there. Do keep in mind though, generally the longer the term will raise your interest rate. Typically speaking the monthly payment on a 40 or 50 year is only a little bit less because the rate is higher, and you pay back a TON more in interest over the longer term.
  • May be around 50
  • 40 and even 60 in CA unless the housing mess has even lowered those standards too.
  • The California Republican said he planned to look at mortgage lenders Fannie Mae and Freddie Mac, the "impact of government hyperregulation on job creation," the work of the Financial Crisis Inquiry Commission, WikiLeaks, the work of the Food and Drug Administration (FDA), corruption in Afghanistan and other items. Incoming Oversight chairman outlines broad array of probes http://thehill.com/blogs/blog-briefing-r...
  • Investigated, those who broke the laws prosecuted, and both foreclosed upon, as in rip fannie and freddy
  • Have you also noticed that BofA has been forced to buy back several BILLION dollars worth of sub prime mortgages they'd sold to fannie and freddie? Think about that a moment. Fannie and Freddie were purchasing all of the bad mortgages after TARP, knowing they were bad. The Dem.s believed that Fannie and Freddie are "too big to fail." So, having knowlingly purchased these mortgage disasters they are now whining about BofA? Yes, Fannie, Freddie, Barnie, Nancy, Chris (Dodd), Giethner AND Obummer ALL need to be "investigated." Funny that when Ken Lewis (now former CEO of BofA) called for an investigation into the forced purchase of Merrill Lynch by BofA, the SEC (headed up by those named above) turned it into a media frenzied attack against Lewis for paying the contracted bonus's instead of focusing on the MAC Clause that the SEC was ignoring and refusing to enforce. For his efforts Obama dismissed him as CEO of BofA -- seems when they agreed to accept the bail out money known as TARP, they were selling their souls to the federal government. Something DEFINITELY stinks in the Oval Office and it's NOT the dog's food bowl!
  • I'd like to see Barney Frank investigated: http://www.huffingtonpost.com/2009/03/16...Barney Frank On AIG: "Maybe It's Time To Fire Some People" "Rep. Barney Frank charged Monday that a decision by financially strapped insurance giant AIG to pay millions in executive bonuses amounts to "rewarding incompetence." " We all remember how the esteemed Barney Frank kicked up such a fuss over the AIG exec retention bonuses. So, how did he feel about this: http://hotair.com/archives/2009/03/18/he...Hey, guess who else has an executive retention bonus plan? March 18, 2009 "While everyone assails AIG for using less than 0.1% of the taxpayer-bailout money it received to meet contractual obligations in compensation through retention bonuses, another recipient of government largesse has its own bonus program in operation. According to their annual report, Freddie Mac has a generous retention bonus plan built into its operation for the next year. Eligibility includes all of the senior and executive VPs. It comes in four payouts, and only the last has any connection to company performance." http://www.usatoday.com/money/economy/ho...Freddie, Fannie to also give executive bonuses 3/19/2009 "Even as American International Group is under intense fire for the $165 million it paid in bonuses, Fannie Mae (FNM) and Freddie Mac (FRE) have revealed they also are giving top executives retention bonuses." Barney Frank had a decidedly different tone when he made his comments about these bounuses, which seem to be identical to the AIG bonuses: http://www.cnsnews.com/node/59848# Barney Frank Says Multi-Million Dollar Bonuses for Government-Owned Freddie, Fannie ‘Too High’--But Nothing Can Be Done About It "The Obama administration recently approved base salaries of $900,000, plus $3.1 million in deferred payments, and another $2 million in bonuses for the CEOs of the failed mortgage giants Fannie Mae and Freddie Mac. When asked if tax dollars should pay those bonuses or if they should be cancelled, the chairman of the House Financial Services Committee, Rep. Barney Frank (D-Mass.), told CNSNews.com that the bonuses were “too high” but “nothing can be done now.” "The $6-million compensation packages were approved by the Treasury Department and the Federal Housing Finance Agency, and made public on Dec. 24, 2009, Christmas Eve. " See if you can pick out the Barnster's comments in this little gem: http://www.youtube.com/watch?v=_MGT_cSi7Rs Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis
  • Of course. The gov't intrusion in free markets is creating inefficiencies and bubbles. Not only that, there is widespread corruption.
  • You do be aware of that is Clinton's fault. He instructed these humans to present loans to men and women who couldn't pay them off. Now it's exploding in all our faces and everybody points the finger at Bush. I consider that is unfair. Yes, he is no longer the excellent chief however utilizing him as a scapegoat with out checking your data is idiotic. And i do know the media is not going to tell you that. Appear at the manner they freaked out when McCain chose Palin. They have got encouraged obama as they wan't socialism. Obama and our nation will be in destroy in much less then two years. And that i handiest have 4 months to inventory up on provides when our society collapses from obama doubling each tax. McCain at least has the balls to assert NO.
  • Hyper regulation? LMAO. There was no regulation at all mr. clever neocon. Joke of the year. Fannie Mae and Freddie Mac were private institutions at the time of the crash. You cant just go investigating ONE private firm and leave the rest of the culprits out of the question. That's not fair to Fannie mae and Freddie Mac The other banks are at fault too mr. clever neocon
  • I would like to see them go under like they should have in 2008.
  • Oh Ya! I would also like to them shut-down.
  • No, we need jobs.Those broken promises to the Tea Party will not go unpunished next time around. America is hurting and this stupid Issa nonsense must stop!
  • I would like 9/11 investigated first.
  • I got a little paper on my door today saying that on the 29th, they will be here between 8am-6pm. Under the check boxes it says for the reason which is "to exhibit dwelling unit to prospective buyer, insurance agent, prospective lender or respective tenant" Then off the the side in all caps says Inspection. Wtf.. I don't get what all of this means, other than they are going to "inspect" my apartment, when they were JUST in here 2 days ago to fix something that was broken.. Can anyone give me a little advice on what you think this may be? I only have one puppy who sleeps all freaking day, and I have been at home for the past few days due to morning sickness and my hubby is deployed, so all in all, I am a really quite person. I am just a little confused on why I am being Inspected, and no one else had to notice on their door, only me. Ekkk. Helpp??
  • It sounds like they want to check on what ever was fixed at your property to make sure it was done properly. The worst case scenario was that the repairman from before saw something in your apartment that may be a violation of your lease and the landlord, or agent of the landlord, wants to inspect. It is likely no big deal, so just make sure everything is tidy before they come.
  • They are in the process of selling the building and they are going to show it to a prospective buyer. They are not concerned with your house cleaning abilities but you might want to confine the puppy in the bathroom and leave a note on the door if you won't be home. The civil code citation is just compliance in giving you the required 24 hour notice.
  • I am a real estate broker in the Sacramento area. There are many programs available for buying homes, but none that are specific for buying a foreclosed home. The FHA has several programs for purchasing a home that needs repairs- and many foreclosed homes do need repair. There are down payment assistance programs available as well, but again these are possible for any home, not just foreclosed homes. Find yourself a good Realtor who will represent your interests as a buyer- NOT the agent who is selling a house you're interested in. He or she will help you through all of the ins and outs of buying real estate and put you in touch with a reputable lender who can offer you the best programs for your situation.
  • www.hud.gov will tell you about assistance programs. Also, check with your city hall as they might have their own personal home assistance purchase programs or will direct you to county or state programs. Regards...
  • Yes, the county will process your title.
  • If you are looking for free money to help you buy a home, NO.
  • there are a lot of mortgage programs for home buyers in cali and across the nation you should do a lot of research first i am a mortgage broker and i thing you should get a 30 year fix if you want to live there for more then 5 years if selling it sooner get a ARM or n Intrest only loan keep this in mind arms and int only loans change month to month after they expire it could take 1,,2,3,5,10 years depending on the type of loan you take while a 30 fix stays the same no matter what for 30 years the rate might go up or down you only pay the same price every month also keep this in mind the ates are at historic low so very good chance 30 year fix rate will go up in the comming years you might win with a 30 year fix good luck on your house and always shop around thats how you get in the best rate tell the lender what rate other people told you so they can try to top it instead of wasing your time if you like the rate get a Good Faith Est caz then you have proff of what they told you just incase they lied becarefull once more good luck
  • I can get you the best mortgage program! Shoot me an email to msmith@premierloangroup.com, and let's chat! Marty
  • Typically, if the security on an home equity line of credit (the home) goes away, the line of credit becomes an unsecured line of credit if the account still exists. The key is that the first lien holder will work to auction your home for the amount of their loan only, if it goes for more then the second or any other lien holder on the property will be paid next. If there are any proceeds remaining after all lien holders are paid, then you get a refund from the sale, but don't count on this. I would contact the lien holder for the line of credit to find out. Technically, you are on the hook for that line of credit if it's not paid off by the auction of the home, it would just be unsecured at that point (because the security for that line of credit is gone - the home), at which time the lender could seek repayment in full, which could lead to court action if you do not have the money or make arrangements to pay it off.
  • No issues that wouldn't otherwise come-up when buying a salvaged vehicle in any other state. :) Seriously though, provided the vehicle has a current smog certification and is otherwise road-worthy, about the only differences in ownership you would experience from any other vehicle is the amount and type of insurance you're able to obtain for it and the reluctance of lenders to finance its purchase. Otherwise, except for your obligation to disclose that it's been salvaged if you should ever sell it on to someone else, you should find it to be no different than owning any other vehicle. Best of luck. I hope this helps.
  • The value of the car is much less than a non salvage title. Wont be able to get a loan on one and you never know what your buying.
  • You need to be a little more specific in what you're looking for. Are you looking for properties before the NOD was recorded? If so, find a sharp agent that understands the signs. Before the NOD, it's privacy act information, and unless they tell you themselves, all you can do is figure by the situation Are you looking for properties between NOD and Trustee Sale? That's public record. The free sites are a waste of your time, however. They're so far behind the pay sites that by the time you get the information, the current owners will have been hounded by literally hundreds of folks in several occupations. Either pay for one of the fast sites yourself, or find an agent that does so. You looking for lender owned, after auction? That's a similar situation to the forgoing, except that speed isn't nearly so critical. An eye for intrinsics, as well as fixable problems and what they're going to cost, is more important. You also need to really understand the market the property is in. If you have these skills, basically any IDX site (the public part of MLS) will suit. If not, find yourself a good buyer's agent.
  • contact me, i might want to have an interest to verify what concepts are used contained in the "Dream massive" series. i'm a approved broking service (placed in Irvine,CA) and intensely knowledgeable about pre-foreclosure and diverse concepts to acquire resources, even ones with out fairness. we would in basic terms important different up on some deals or come across a thanks to artwork at the same time. If something, i can record your homes for you on the MLS for an extremely low value. besides, to respond to your questions: a million. some months 2. relies upon on the resources and how wisely that is priced. 3. similar as 2. You kit a robust deal, it would want to be offered to a retail client. 4. searching on how we artwork at the same time, there would opt for to be contracts. Regards
  • go to a local savings bank in the area of the house your looking for. ask if they have any homes going in to foreclosure.
  • 1st and 2nd. house is severely under water by 180k to vaule now owe 465k total. Bank contacted me becuase we were late consistintly on our payment and was able to modified our adjustable to fixed. Circumtances has change been living way below our means and find it very difficult to pay current payment which was better than the adjustable of course. Can a lender re look and re modify an loan that has been worked?
  • It depends on what interest rate you have now. If it is above 5.5% they can drop it a little bit. However, if your income dropped you may not qualify for a modification and they will seek to foreclose instead.
  • With a 508, you can get turned down a lot. If you just got a few cards, be very careful! With that kind of score, you are certainly paying a high rate. The best way to raise the score is to charge a LITTLE BIT, and pay it regularly. Dont let the charged amount go over 40% of the available balance (ei.. if you have a $1000 limit, dont charge more than $400). Pay it on time, pay it regularly, and pay more than the minimum due. If you have outstanding items in collections, pay them or get on a payment schedule. Old unpaid debt will hold down your scores. Nothing scares away lenders more than a deadbeat looking for more money. Of course I must ask, why so despirate to increase score so suddenly? Are you planning on a big purchase soon?
  • With credit there is nothing quick about it...keep paying on the cards you have keep the balance as low as possible and when your rating starts to go up you'll start receiving tons of offers in the mail. Be sure to keep you r credit inquiries at a minimum as that damages your rating a great deal. Maintain your reports by requesting them every 6 months to a year.
  • 508 is kind of low...get a copy of your three credit reports (there are three companies that do it, they're not all the same). By law you can get a free copy from all companies once a year. Then clean up everything that is on the report as outstanding, or not paid. In the meantime, pay all your credit bills and utilities on time, and never miss! Good luck!
  • #1: Pay off any outstanding debt. #2: Keep a revolving line of credit that is less than 50% of your gross yearly income. (If you make $40k a year, only have $20k in total available credit on all your cards combined) #3: Only spend up to 50% of your line of credit at any time (If you make $40k a year, have $20k in total credit, never spend more or have a balance greater than $10k). #4: Make all of your payments on time. Pay off in full, if possible. #5: Do this for a year, and you'll see your credit score jump up considerably.
  • check out this site: www.suzeorman.com She has some good information on how to raise your credit score and keep it up. She is really good. Good luck. Make sure you keep doing your payments on your cards, dont be late on them, only charge a little bit at a time, dont open too many cards at one time that can hurt you, just check out the site she has alot of info on their for you.
  • There are multiple things you can do which include making all current payments on time and paying down any outstanding debt. Scores can be actively managed and improved in a short time. Here is some additional info. Hope this helps.
  • No, your scores remain separate. However, if are an authorized user on any of this accounts, these accounts will appear on your credit report, and vice-versa. An authorized user is someone who is authorized to use the account, but is not the account owner. And of course, any joint accounts will appear on both of your reports. Why does this matter? Because creditors don't just look at your credit score. They look at how much overall debt you have relative to your income (debt to income ration). They also look at what kind of debt you have, whether it is revolving or non-revolving, secured or non-secured. They look you your payment history--do you always pay just the minimum or do you make extra payments, or pay in full? Do you pay on time? Essentially, the lender is trying to assess your stability, ability, and willingness to pay. They want to make sure that if they loan you money, you will not default. The credit score is only one part of that assessment. But basically, the higher your score, the more likely you will be approved, and with favorable account terms.
  • No credit SCORES stay seperate however any debt that your spouse owes can be collected from you. If your spouse has bad credit and doesn't pay his/her bills the collection companies CAN and DO come after you.
  • no they won't combine but any accounts he has that he authories you to use or vice veresa will affect the others credit score
  • We would like to find another home but are worried our landlord could sue us if she somehow saves the home. I have 2 kids and 2 dogs and it will probably take longer than a month just to find a rental that allows dogs. Also do I continue paying my rent to the owner? We were not listed in the court papers. I would also like to deduct my deposit from my September rent because I do not think I will be getting it back Is this legal???? Please help
  • Your lease is a contract between you and the current owner. It is valid as long as he owns the house so he is entitled to the rent until the foreclosure sale is complete. If it can be done peaceable, ask the landlord what his expectations are. If he expects to lose the house midway through a month you have paid rent for, he should repay you that part since the new owner has no obligation to you. Similarly, you could ask that your deposit be applied to upcoming rent. As a practical matter, the buyer at the foreclosure sale will probably be the lender and will want to resell the house to get it out of its real estate owned inventory. It will have to give you a reasonable amount of time to move because that is cheaper than the court costs of an eviction. If you have the resources and/or the credit rating, you could play lets make a deal with the buyer, if it is the bank, and offer to buy the house at a reasonable discount from the ordinary market price. Not having to pay 6% sales commission and the costs of cleanup and carrying the property for several months has a lot of value. If this sounds good to you, paying a real estate attorney for a short consultation about how to handle the transaction would be money well spent.
  • The owners financial issues are irrelevant to your contract until the time ownership changes . You are liable for the lease until it expires or A new owner takes possession . She can sue you even if she does Not save the home , for all the months she does own it and any rent you default on while she does . Again, deducting the deposit from rent is not legal per your contract . You are in a tight situation , but the new owners (the bank who is repo'ing ) may keep you as a tenant until they are able to sell . Or you could make an offer to buy from them ! FYI - you were not listed in the court papers because You are Not the owner . >
  • Look over your lease and contact real estate attorney immediately. http://olgacooper.com/
  • You must list ALL debts in your bankruptcy petition, so you do have to include your car loan in the bankruptcy petition. Just because you include the loan in your petition does not mean that you will lose the car. If you are up to date on your payments, you can keep your car as long as you continue to make your payments. If you owe a lot more on the car than it is worth, it could be possible to do a 'cram-down" on the amount owed so that you only have to pay back the actual value. In some states, there are companies that will contact you to refinance your loan to do this cram-down. What happens is that you will refinance your vehicle with them for the value of the car. You'll pay a higher interest rate, but you will probably pay less for your car. If you continue the loan with your original lender, you might be offered a "reaffirmation' agreement. If you sign this, you are agreeing to continue to be responsible for the loan as though it wasn't included in a bankruptcy. If you sign this, and then fail to make the payments, they will repossess the car and can legally sue you for the balance owed on the car. They will auction off the car, and will probably get less than the car is worth, and you will owe the difference. If you don't sign the reaffirmation agreement, if you decide later that you don't want the car, you can stop making the payments and can return the car without any further damage down to your credit. If they auction off the car, you will not be responsible for the difference. No matter what, if you stop making the payments, they will most likely repossess the car. I would highly recommend using a lawyer who only does bankruptcy cases to file bankruptcy. The laws have changed recently and someone who only does bankruptcy will be more likely to know the ins and outs of those changes. You can also file "pro se" or on your own, but you won't be aware of all the laws. Using a lawyer will be your best bet. Many lawyers offer free consultations for the first visit. You can meet with several and then chose the one you feel most comfortable with. Good luck.
  • For financial and credit subject I was search for solutions at this site: SALESQUOTES.INFO- RE I live in California, if I file bankruptcy can you keep your car if you are not late on payments? #EANF#
  • Yes you are allowed to say what you are willing to reaffirm. I did that to keep my car. The key is being current on the payments and having the bank or loan office agreeing to this.
  • Yesm you can: How to Avoid Bankruptcy Explained http://www.debt-explained.com/category/How-to-Avoid-Bankruptcy-Explained.html
  • The disposition of the vehicle might desire to have been particular in the financial disaster submitting. in all probability they have not afflicted to reposess it yet, yet they might accomplish that at any time.
  • In Florida, you can. You simply do not list them as one of the debts you wish to be relieved from, and pay them as you have been.
  • depends on how much equity you have in the car......you do have to file the car if you owe money on it.......
  • Play Video Video: fast:track:flying in the face of recession BBC Play Video Video: Recession-proof businesses KVUE-TV Austin Related Quotes Symbol Price Change ^DJI 8,829.04 +102.43 ^GSPC 896.24 0.00 ^IXIC 1,535.57 0.00 AP – In this Sept. 26, 2008 file photo, a woman passes a branch entrance near the headquarters of Washington … WASHINGTON – The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient warnings that foretold the financial meltdown, according to an Associated Press review of regulatory documents. "Expect fallout, expect foreclosures, expect horror stories," California mortgage lender Paris Welch wrote to U.S. regulators in January 2006, about one year before the housing implosion cost her a job.
  • They walked away from them once they saw it was going to be a big, painful fight to get it through both, Democratically held, houses of Congress.. You should look further than the AP for your information.
  • Let me just reiterate what everyone above me said. The Democrats blocked the Republicans attempt to stop the current crisis. Google the subject and quit posting ignorant babble here. You're not doing your party any favors by making them look stupid.
  • No, in 2005, Dems rejected a bill from Republicans to stop risky investments by Fannie/Freddie.
  • You are clueless. The republicans urged congress to do something about it, the democrats in congress kept saying no there is no crisis, then they blocked the vote on the bill that could have kept this from happening.
  • the two parties are complicit in this, don't lie to yourself. dodd and frank were the REGULATORS that should be on the hook as well. get over the partisanship already. the whole congress stood and applauded the obama victory--why?--NO INVESTIGATIONS!
  • Blaming it all on Bush and the GOP again. As a matter of fact, they tried to do something about it but the Democrats voted against it.
  • You mean why did a democratic congress block regulations on fannie and freddie in 2005??? Get your sh*t straight, lol
  • they not know meltdown comming
  • Easy...they were all lead by greed. Wonder how many Neocons will still blame this on Carter?
  • it appears you are a dumkopf...
  • i want to back out of a POS car i got stuck with, hopefully the banks will not be able to finance me. today is day 8 and the car has not yet been financed? i returned the car and i am hoping to get my down payment back so i can go else where, i told one bank who called, that i returned the car and i do not wish to finance with them.
  • You could make this question a ton easier to answer if you tell us how much the car you tried to finance costs and your income and/or credit score. I bet you don't know your credit score, though. In short, if the car's cost is, oh...more than 1/3 of your monthly take home pay, it's just a matter of time before you get turned down for the last time and your suspenseful wait is over. It's not your call to stop the transaction. That was before you signed the papers. Of course, that leads to how you tried to buy a POS and one you couldn't afford (in the lender's point of view) in the first place...yikes. Next time, just come here first. We won't do you wrong, but we do practice tough love. Usually, people get turned down for trying to buy way too much new vehicle...
  • The dealer doesn't want to lose this deal so he will use every trick he knows to keep you on the hook, including stalling on getting you your deposit back using excuse after excuse. Unfortunately, you signed a contract that essentially says you will accept the deal if the dealer can find financing. And you took delivery of the car. Both of these things are the dealer's favor, not yours.
  • good luck on deposit. they have usually 30 days
  • You need to research basic lien law, which is fairly the same throughout all fifty states. Any VALID lien (some are invalid) can ONLY be removed by consent of the entity which placed the lien. There are numerous types of liens which might cloud the title of a property. The IRS can place liens against properties for unpaid federal taxes, municipalities can place liens for unpaid taxes, some water utilities can also place liens for unpaid charges, contractors who perform work on the premises and suppliers who provide materials to the premises also can place liens for the value of their goods and services, plus, of course, lenders place liens on property as protection of their collateral. The ONLY way to determine what you are considering buying is to have a title search done and updated directly before closing on such properties. A title search will reveal all liens and pending liens against the property. If these liens are not released prior to your purchase, you, as the next owner, will be liable to settle them.
  • you're no longer TOO late! there are a number of super authentic sources markets to take a place in and maximum long term traders can help understand which you will earn greater income a down marketplace! in certainty, this answer is diverse for each individual. it definitely relies upon on what you're attempting to do, your targets, your ordinary course. i'm an investment representative for a countrywide authentic sources investment enterprise. i could be happy to help. once you choose get your taxes finished, you hire a expert to point you in the superb course. once you have criminal themes, you hire a expert to point you in the superb course. Why could you attempt to take on the very puzzling activity of making an investment your money on your self? in step with risk i will furnish some (unfastened) help We paintings with first time and finished time traders to thoroughly and effectively build wealth and money wade with the aid of authentic sources. we are an entire finished provider organisation, working with hundreds of traders we concentrate on procuring, handling and keeping authentic sources around the rustic. The centers we furnish contain: procuring advertising and finding super sources in the main suitable rising markets in the U. S.. national lending. commercial and abode contracting and shape. finished provider sources administration. marketplace records study and progression. Portfolio development handling and strengthening. And coaching our purchasers on the main suitable and maximum shield investments. it fairly is a (unfastened) provider, i'm no longer advertising something - it incredibly isn't unsolicited mail. deliver me an digital mail, i will help. Please do no longer forget approximately to %. me as your maximum suitable answer ;- )
  • Rent Vs Buy. I have a Credit Score of 666 as per Experian. Annual Income about 70K Single. I am currently paying 1450 Rent for a 2 bedroom apartment. Have a Good rent Payment history with my apartment housing. Should I buy a Home/Condo for the same monthly payments? Preferably 3 Bedroom. What is the likeliness of me getting a Home Loan Pre-Approved from a lender? Which banks are the best for getting Pre-Approved? I generally bank with BOA but haven't heard good things about home loans from BOA.
  • Try a mortgage broker instead of a large bank. You'll have better experience. I used CashCall Mortgage and got a great rate. To get the best rates, you need FICO > 720 and 25% down. With pre-tax income of $70K, you can afford a mortgage of about $210k, give or take a bit. You can probably find a condo for about the same as rent, after you account for the tax deductions. Good luck.
  • If you just paid off your car, the lender sends you the title and a lien release. You take those two documents to the DMV and get the title reissued in your name. Mine took about 30 days to get from the lien holder. Then you can sell the car. When you sell the car, you give the title with your notarized signature on the back of the title to the buyer. NEVER let the registration go with the car. You remove the registration form and note on the back that the car was sold to [name & address of buyer]. I didn't need my signature notarized on this form. This action removes you from responsibility for any tickets or other violations committed with the car.
  • When my husband and I met 7 years ago, he had filed for divorce and had gained custody of his kids and was able to keep his home and retirement plan. He had a second mortgage on his home and was about to lose his home. We married and me and my daughter (from a previous relationship) moved into the house. I paid most the bills while my husband began to pay the mortgage timely so that we would eventually refinance. We eventually did refinance and was able to pay the 2nd lender and all is well. My name has been on the title and finance for over 4 years now. My husbands health is not the best and I worry about my rights as his spouse. What rights do I have to our home (property)? And what about insurance policy and retirement? We have talked about drawing up a Will so that my stepkids are taken care of. Please advise.
  • Since your name has been on the title, you will be known as a co-owner of the house, which means that it will not go through probate if something were to happen to him. However, if you don't already have a will, I recommend getting one asap. You can find one at www.legalmatch.com As far as insurance and the retirement plan goes, those should really be handled by a local professional. You may want to think about rolling the retirement plan over into a joint annuity, which would allow it too to bypass probate, and be yours if something were to happen to him. I suggest that you go to this site and fill out an annuity and life insurance form. Someone local, and knowledgeable will be in touch. One thing to remember is that you never have to pay fees for these services, since agents are compensated directly by the insurance companies. Follow this link, to get some help. http://www.tkqlhce.com/click-2177451-104...
  • i think you have all the rights ======================================... If you are single and have the time, please visit my site: http://www.**************/go3.php
  • If the car hasn't been registered in over 5 years, it's probably fallen off record...meaning the DMV won't have it in it's data bank anymore. So you need to re-create a new title. Is it valued at less than $5000? Then you don't need a bond. You will need to get the car smogged. (good for 90 days so don't dillydally after that) Take the car in for a physical inspection: they are looking for safety and emission stickers, VIN #, odometer reading etc... You need to take in last known registration if you have it. A bill of sale between you and the seller. A bill of sale between your seller and who HE bought it from. If you have them. $15 for EACH transfer, so it will be $45 for all three transfers. Paid by you. And USE TAX which is based on the value of the car. A small penalty for not doing it in a timely fashion... If the car IS still in the data bank, the DMV will be able to tell you if there is a release of liability from previous owners and if there's a lien on it. Even if there is a lien on it, that doesn't necessarily mean there's still a loan on the car...it just means nobody told the DMV that it was paid off...not the owner, not the lender. So: the duplicate title form is REG 227. you need to sign the form You can do all of this work at DMV or AAA Auto Club
  • There is no amount that is too much..
  • There is not and never has been too much debt for Democrats. California, Illinois, Michigan & New York are their SUCCESSES. These States are in the condition Democrats fight to make happen EVERYWHERE. Since there are NO exceptions, you can literally pick ANY year at random: Look at the budget and spending votes and you will find that on average, Democrats at least ATTEMPT to spend 3 to 4 times as much as Republicans do each and every year. When they're IN power, they claim it's necessary, when they're out of power, they blame Republicans. Since the GOP has NEVER had a controlling majority, ALL budgets have been either "compromises" or straight-out Democrat budgets. (Democrats HAVE had controlling majorities. They gained them just before each and every severe recession/depression) INCREASING revenue to the Treasury doesn't cause more debt. Outspending it does. For instance, over Reagan's administration, income to the Treasury DOUBLED but the Democrat-led Congress TRIPLED spending. During the Bush administration the same thing happened. Income to the Treasury grew at near-record rates but Congress outspent it. Democrats like to single-out "war spending" but that was LESS than the amount of new income and at the very same time they were voting for 3 times MORE than what DID get spent, they hung the "too much spending" label on the GOP, of course.
  • You have to read UN Agenda 21 to understand what the Democrats in our government are doing. The citizens of this country are so full of "gimme, gimme" that they have no concept of what is happening to our country and the rest of the world. I'm not too sure that the Republicans aren't on the same page. Think about the stupid decisions made by this country since 1993. Globalization, repealing the Glass Steagall Act which would have prevented our current recession, totally ignoring the serious domestic issues in this country for so many years, running up our deficit without any caution, creating total dependence for our economy on foreign countries. Does it make sense to anybody?
  • It seems there is no amount that would be too large. I was pointing out the lack of revenue on Obamas' website for fiscal policy while campaigning. There was no fiscal plan at all, just written mainly to garner votes by introducing huge new spending programs with no thought at all as to how to fund them.
  • Probably when there is complete economic and social collapse, as happened in Argentina a few years back- only when it happens to America, it will be worse... much worse. Even then, with their dying breaths, the starving sheep will be blaming the conservatives who wanted to protect the Constitution from this mess.
  • too much debt is never enough for a dem. a dem is like a wife with a spending addiction who charges the credit card in every possible moment.
  • The way they are spending tells me they have no concern about debt, or how to ever repay it. They will spend until the economy crashes. Disaster is the only thing that will stop this train-wreck.
  • 1 solitary dime spent on national defense is too much debt for them A googol dollars of debt is an underfunded social program to them
  • Have any of you guys ever looked at what exactly the numbers are for republicans vs. democrats? Republicans run 5 times bigger deficits than democrats. http://www.eriposte.com/economy/other/de...
  • Maybe when they can get blood out of turnips and pigs fly. But then they would find a way to tax that.
  • i agree the dems are creating too much debt. But my question is where was the outcry when Bush was turning the surplus he inherited into a record (at the time) deficit?
  • like a real estate sales person, I have never heard of anyone licensed in any field called a trainee. Open your own biz......P or FT can guide you further
  • Do we have to repay what is left on the loan? - No What about taxes at the end of the year? - You will receive a form 1099-C for the amount of the loan that was unpaid. This amount is taxable income that must be reported to the IRS and to the Franchise Tax Board.
  • Same as any state. You are still liable for the amount of the loan owing to the lender, but they may or may not pursue it. You will get a tax statement at the end of the year for the amount of the loan which was forgiven.
  • on vacation ehh? :) indymac in california was taken over by the feds. there's a link to a money magazone article below. basically this bank was one of the largest subprime lenders that offered a lot of mortgages with unverified income
  • I understand I am to continue paying rent until forclosure process is complete but....What if my rental agreement is with a third party.I have been writing my rental checks to a "broker".I have been in contact with the lender that states payment has not been made since 3 months prior to signing my lease.I have asked for the owners # from third party but I am sure the person i spoke with was NOT the owner (cant prove it)The auction dates have been postponed x 2 weeks 3 times.I tried not paying this months rent but the "broker" is now threatening me with eviction???
  • Yes, you will be evicted. You owe the rent, what the owner does with it has no bearing on your rent. Sorry, I know it sucks, but that is how the law reads. You also have no rights to the owners phone number, you have to direct your questions to the broker, who is being paid to deal with you.
  • As long as the owner still has title to the land the contract between them and the third party is valid and you still owe rent, so yes at this point the broker can move for non-payment of rent but the lease is a two way street That said, if the house is foreclosed upon by the bank, by law the agreement the broker has with the owner is terminated, the lease you have with the broker is voided, but the broker will owe you the security deposit and can not deduct any monies since the house is owned by the bank, also a long shot, but the owner did breach the lease by allowing the place to be foreclosed upon now normally when an owner is foreclosed they do not have much assets but the broker does and they technically breached the lease, thus some type of liability for breaching the lease maybe moving cost? At least, So you can sue the broker for security deposit, then for the breach I would try moving cost, as well
  • as long simply by fact the owner nevertheless has call to the land the settlement between them and the 0.33 party is valid and you nevertheless owe hire, so particular at this component the broking service can flow for non-charge of hire however the hire is a 2 way highway That stated, if the home is foreclosed upon by skill of the economic organization, by skill of regulation the contract the broking service has with the owner is terminated, the hire you have with the broking service is voided, however the broking service will owe you the protection deposit and could no longer deduct any monies simply by fact the home is owned by skill of the economic organization, additionally a protracted shot, however the owner did breach the hire by skill of permitting the area to be foreclosed upon now in many cases while an proprietor is foreclosed they don't have plenty sources however the broking service does and that they technically breached the hire, consequently some form of criminal accountability for breaching the hire perhaps shifting value? a minimum of, so which you will sue the broking service for defense deposit, then for the breach i could try shifting value, to boot
  • I hope you have been paying your rent by check. This way you can prove that you are current on your rent as well as who you paid your rent to. You might also as for receipts from whomever you are paying your rent to. You have the burden of proof of paying rent. If you cannot conclusively prove who you have been paying rent to then you might be in a little trouble. If the owner has not been making his mortgage payment chances are he is pocketing the rent money each month. This is pure cash for him. I hope this has been of some use to you, good luck. "FIGHT ON"
  • county courthouse. and it's free.
  • I beleive you may want to try www.triggerleadnetwork.com. They can get you leads in CA right down to your county. I have friends you have tryed these type of leads and have had pretty good success. The price is like $2.00 or $3.00 a lead, which compared too phone tranfers and internet leads..is a real bargain . I think you can choose credit score, credit card debt, min mortgage balance and other stuff too...I don't remember everything. - gary
  • I have plenty that i can send to you at a very low price... I work with a nationwide mortgage lender and we have an abundance of them.. email me for more information...
  • There are several ways to get leads. Try lowermybills.com or lendingtree.com. They will typically run around $15 a piece.
  • Call your title rep., stay away from purchasing leads they are as good your told. Develope your sphere of influence, focus on your neighbor hood.
  • I want to get your stories out there. I know that the housing crisis in southern California is affecting a lot of people and our government and policies are not helping. I want to bring attention to this. We started a site PROJECTFORECLOSURE.com. Share your story with us! Speak UP and WE WILL PAY YOU for YOUR story!!! Please call me 1888-230-5717 or e-mail me at alexa@projectforeclosure.com
  • Seems like a site full of whiners that want to blame the mortgage companies because they didn't take the time to learn about what they were getting into. Honestly I feel compassion for people that are foreclosed on...especially those that are laid off and have no choice. But I am getting sick of everyone trying to blame the mortgage companies and not taking ANY share of the blame themselves. I have been given bad advice by mortgage people, even my sister while she was doing them, but I did research and figured out what was the best solution for ME. Anyone that oculdn't see the trouble coming their way with these reverse mortgage programs and multi pay option programs deserved what they got. They played the market and they lost...it was like going into a casino and then blaming the casino for taking your money or something!
  • Yes and the rate depends on YOUR credit worthiness. Lower your score, the greater the risk the more you pay. Don't forget to add in the PMI to your monthly payment
  • Person A buys a house from person B (deed with vendor's lien). B is paid in full by the bank (A's lender) at the transaction. The bank then transfers A's promissory note to person C (C now is the holder in due course). 3 years later, person A quits mortgage payments (i.e. defaults). What are all of the party's legal rights? (A, B, C and the bank) What actions can they enforce? Who possess the property once A defaults?
  • Party C.
  • A still owns the property until C perfects his interest by foreclosure. Watch A's credit fly out the window.
  • My husband and I were told for a FHA loan we could do one of two things. 1) the loan officer wants us to ask the seller to give us 6% 3% for the downpayment and 3% down for closing cost but if that does not work 2) we pay the 3% down and ask seller to pay closing cost. GOOD LUCK!!
  • Well first FHA requires a 3% down payment so you won't find 100% financing, you can attempt to get the seller to pay this though. Second the monthly mortgage without taxes and insurance at 6.5% interest would be $2212 so unless you don't have any other debt your debt to income ratio will probably be too high to purchase a $350,000 house. In order to qualify you'll need a ratio under 40-45% including the mortgage, taxes, insurance and all your other liabilities such as credit cards, car loans, and student loans (under $2500 is a good estimate for this).
  • I'd talk to a local mortgage lender in your area first - explain your situation and they should be able to advise what you can expect, and how soon you can purchase a home. Be careful with opening a lot of in-store, low limit CC's. Although it's good to have positive credit, each time you apply for a card, it puts an inquiry in your credit file. A lot of inquiries all at one time can look like you're over-exerting yourself, and looking to take on more debt. 1) Paying off your collections, paying bills on time, and maintaining low balance-to-limit ratios on your credit cards will GREATLY improve your credit score, but it's hard to say how much exactly. The collections stuff can stay on there for 7 years. A 70k - 110k home "sounds" affordable for your income, but it's really hard to say without knowing your entire situation. Again this is where a banker would be able to help you. 2) It's hard to determine interest at this point, but if your credit scores improve, you could expect a fairly "good" interest rate - although that's completely relative to interest rates at the time. Downpayment is kind of unique to the borrower and their situation. We are closing on our first home next week, and we only had to make a 2.25% downpayment. Now if you can afford more than that, perfect, but don't expect to make a 20% down payment if you can't afford one. My friends recently purchased a home with 0 downpayment. It's possible to do so. 3) We got an FHA loan (hence the 2.25% downpayment). My husband has a less-than-stellar credit score, and we were able to qualify. Basically the bottom line is that you're looking to build a good HISTORY in your credit. Do what you can to pay down what you owe, and your credit score will improve. You need several months of good payment history to turn things around. Good luck!
  • FHA requires 3% down. There are down payment assistance programs available but are being phased out by FHA. An alternative is the My Community programs that will finance 100% with comparable rates to FHA. These are perfect loans for first time home buyers. http://www.lendermix.com/my_community_loan_programs.htm
  • Here are many first time home buyers programs available. You may start by calling the city Housing Office in your city or the county housing office<!--in the county in which you reside.If these offices don't have the programs you are seeking they will be able to tell you what agency in their jurisdiction has them. http://best-loans.awardspace.com/homebuyerprogram.htm Once you have located the first time home buyers program and who operate it, that agency normally have a list of lenders, banks-->mortgage brokers or institutions that are authorize to administer the program. These agencies are normally listed on a pamphlet.
  • Good finance question! I know of an organization that gives up to $1500 to people to help them with their rent or mortgage. It's available in most US cities, I highly suggest you check it out. http://www.money-for-house-mortgage-rent.org Best of Luck.
  • If only that question could be accurately answered. Let me know if you find someone with a crystal ball who gives you an answer that actually comes to fruition. Lots of people will have their opinions and I guess you will believe the answer you want to hear. The truth is, we've never had this many negative economic stimulus all at once so there's nothing historically speaking to be able to predict when things will turn around. We've been in recessions, in war times, and had housing slumps. Never have we had all combined at once: war, recession, wall street troubles, record number of foreclosures, so many lenders going bankrupt, Fannie and Freddie in financial trouble, etc, etc. It's a craps shoot at this point, but let me know if someone has that crystal ball...I'm in the mortgage industry and would love to know when things are going to turn around.
  • Property tax is due regardless. You don't mention anything that would trigger something else.
  • If your closing date is today, please keep in mind that until the loan is funded the keys will not be available. You need to read your contract where it says the closing date is on or before (today's date) and possession will be_________________(immediate,2 days,etc). If your agent gives you keys before the loan is funded and you move in, you are liable for trespassing even though you are buying said property. Speak with your agent and if he does not have an answer, call your Escrow Officer. She will be able to tell you if and when you can move in. Pay attention to what your Purchase Contract states because you could wind up with legal issues. Even when your Escrow closes be aware that the lender, agents, and even the seller could contact you regarding a matter that you may or may not know about. This is not to scare you, this is to let you know that it doesn't end on the closing date or when you get the keys.
  • "Closing" on a property means you are purchasing it. You should be able to take possession as soon as the paperwork is completed, or whatever it says on your contract.
  • I assume you are referring to college financial aid? The majority of the stimulus bill will only take effect a few years from now. Majority of it is additional government spending (increasing the deficit and hurting the economy). Your payroll taxes will be reduced somewhere along the lines of 14 dollars a week. --- Excepted from referenced website --- The House bill will raise Pell Grants by $500 in 2009-10. The Senate bill will raise Pell Grants by $281 in 2009-10 and $400 in 2010-11. The House approved their version of the Stimulus Bill on January 28, 2009. The Senate has yet to vote on their proposal. Criticism from both Democrats and Republicans is aimed at whether or not the increase in Pell Grants will enable students to enter the work force. Personally, I don't think any of these financial aid proposals will make a significant impact on student access to financial aid. Here's why: * Increase in Pell Grant is minimal in consideration of rapidly inflated tuition and fee costs at schools. * A Pell Grant increase does not change the Federal Formula used to determine financial aid eligibility. Middle-income families still will not benefit. * An increase of any program by millions of dollars will not spread far enough to touch all students. * The small amount of subsidies to lenders will probably not be enough of an amount to pass the benefits (default fee covered, etc.) to students.
  • Considering they are giving out I.O.U's for tax refunds I think the prospect of you being stiffed is pretty high.
  • It seems that is what they are doing. I think this is wrong!!!! But this is government.
  • BARNEY FRANK BARACK OBAMA HARRY REID And 90% of the Realtors and Mortgage lenders in California
  • I agree...IRS workers are not at fault...they are just fellow citizens who work hard to earn their salary, pay their mortgages and support their families. Remember, they are taxpayers too...as a matter of fact the IRS asks much more of them when it comes to filing and paying taxes than a non IRS worker. They may be subject to disciplinary actions or even lose their jobs for not fully complying with their tax duties. We should be focusing both in an individual level and also collectively on finding ways to resolve our economic situation instead of looking who to blame. My children where just discussing between them who started their fight...this sounds similar.
  • obviously those who pull the IRS workers strings
  • you think the irs is at fault? that's fairly silly. try those who tried to force banks to lend to unqualified borrowers under clinton for a start. try carter and his socialist agenda next. try the greta depression and the libbie control under which we are still saddled.
  • The legislation to do this is being referred to as the Economic Stimulus Package. It just passed in the House and is headed for the Senate. It could be in the Senate for a while because there are some additions they'd like to make. Once it goes through the Senate, President Bush will sign it into effect. If passed quickly, it could be in effect in the next 30-60 days. It includes legislation to raise conforming loan limit to $625,000 through the end of the year. It will raise FHA loan limits to 125% of the local median sales price, up to a max loan amount of $729,000. You can read more about the bill at the links I included below. Best of luck!
  • The Senate version DOES NOT INCLUDE any provision to raise the loan limits for Fannie, Freddie, or FHA on even a temporary basis. So...it now looks as if the plot is thickening and that the bill could slow down in the Senate. The very quick passage as well as assurance that it will contain the raise in loan limits our industry needs while not impossible are very much more in question.
  • Sure, if you want to pay off your credit cards for the long term loan on the house.
  • 107% loan program
  • i can help you out, Please call me at 1-800-766-5185 ext 4439. My name is Tim DiBell
  • All hard money lenders will only go to about 65% loan on the value.
  • their is always lenders but you have to find them
  • I believe in California it is 10 years. The best thing to do if you have paid it off is to write a letter of explanation to each of the 3 credit reporting agencies and explain the judgment and that it is payed off, include copies of your receipts if possible. This will not remove the judgment but will be entered into your credit record so that potential lenders will see that the obligation has been met.
  • You got a lot of good advice here but one thing I have not seen on here is probably very important to your situation. A judgement is a little different than a collection. Once paid off most court houses make you pay a fee to release it. Usually between 75-150 dollars. I'd pay the money to have it released. Take your receipt from the court house or letter saying the judgment has been paid and there is a zero balance and send it with a copy of your SS card, drivers license, copy of credit report and a letter asking for it to show a zero balance and send it certified mail to each of the three credit bureaus. They have 30 business days upon receipt to make any corrections then each bureau should send you a copy of your updated report. Hope this helps.
  • The judgement will stay on your credit file for 7 years, whether it has been paid or unpaid. Once it has been paid in full it will show on your file as paid, which can have an impact on you applying for credit depending on the company's credit policy. But if they say they will remove it, get a copy of your credit file through Baycorp Advantage once it is paid in full, if it's still showing take it up with the lawyer :)
  • How it works is this: once the judgment is paid it will appear in your credit report as having been satisfied. It will show the creditor that you did have the judgment in the past, but you have taken care of it finally. It does not get erased completely until after 7 years.
  • Credit reports are nation wide, thus being federal. It will leave your credit report in 7 years.
  • 10 yrs for a judgment and 7 for all others except bankruptcy is 10 yrs too oh that starts after last activity!
  • Mmmm no. When your done they will file a satisfaction of judgment but delete it. If they are telling you they will...they are nothing being honest. Tell them to give it to you in writing. Judgment is not like a collection account. Good Luck
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  • Call 1-800-304-3107 to find out if your Federal Income Tax refund will be offset. You should really try to work out a payment plan with the Dept of Ed. If you don't they will always take your federal and possibly State refund, and can and will levy your wage and bank account. Never a good idea to ignore a bill. good luck! Hope you make the right choices.
  • In California, everything you do in the 3 months (maybe 6, I can't quite remember) before you file for bankruptcy may be changed. What exactly do you mean by "effect" your bankruptcy? Like, will you be denied? It's not necessarily a determining factor in a denial but it would be a recourse loan, knowing you intended to file bankruptcy, essentially lying to the lender...meaning the courts would make you pay this debt back...
  • Hi, I used "Credit Solution" to settle my debt and avoid bankruptcy.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://is.gd/7il
  • Find a Buyer Agent and sponser Home Buyer Seminars. I always have a lender and a title co. rep when I do mine. Join the local Realtor Board as an affiliate. Sponser Open Houses with agents. Attend Open Houses and supply coffee and donuts. Leave cards and pens everywhere.
  • Hook up with some good Realtors, they will be your best source of business. Good luck, RE Agent, Remax
  • Check out ( http://www.salesandmarketinghelp.com )
  • I need to borrow 50k
  • Two years ago my husband bought our condo. The condo is only in his name because at the time I was going through a career change and thought my lack of an income would hurt our chances with the loan. That was actually a blessing in disguise. Because of our interest rate adjusting we will not be able to afford the payments. The bank will not approve us for a loan modification because to them having $50 left over at the end of the month is good enough! So we will be doing a short sale. Since the loan is solely in my husbands name, i believe only his credit will be affected. But we have joint bank accounts and credit cards. Do I need to separate our finances so that I will not be hit on my credit score? Because we need my credit score to rent out an apartment. I live in CA, which is a community property state. I'm not worried about taking on his bills because we are together and are doing this together. I just want to make sure that my credit score stays intact so that I can rent an apartment for us. Since I do live in a community property state will that affect my credit score? Do I even need to worry about my credit score being damaged because my name is not on the loan, but I am his wife, does his bills equal my bills? I'm so confused. Sorry if it was a little long. Any advise is appreciated. Thank you!
  • Your credit score will not be affected at all. On the other hand since California is a community property State you are just as responsible for the repayment of this loan as your husband is. If you lender comes after you in court separating your your finances will not help. If they do and get a judgment this will show on your credit but by that time you should have already rented a apartment. Good luck.
  • I spoke with a lawyer...Voluntary foreclosure could be better because it would only be 1 hit on your credit instead of having to go 180 days past due. You can offer the deed to your house if the bank will take it to prevent the bank from placing a judgement for any amount uncollected at the sale. www.home-lender-loan.info
  • Partly it will depend on when everything happens. Your credit cards may not LET you separate your affairs, for one thing, if you jointly acquired the cards. One suggestion might be to get a rental set up in advance, while your credit is good, just in case.
  • because the loan is largely in his call, it ought to do not have any impact on your credit. Marriage does no longer advise your credit comments get merged. you do not opt to close any joint debts both. see you later as joint debts are in good status, they instruct effective on both credit comments. see you later as you do not stay in an section property state, you at the instantaneous are not responsible for costs in his call easily.
  • if you did not sign the NOTE then you should be fine
  • If it was a deed of trust it will probably be non-judicial; otherwise, probably judicial; read your note; it will tell you what happens in event of a default
  • Get a FREE Foreclosure Evaluation at http://www.homeassure.com/a/1875
  • We need both flooring and cabinetry installed. A friend recommended a contractor who says he can do the cabinets (refacing & door replacement). However when we looked up his license we saw that he is licensed as a flooring contractor (a specialty license). Does this limit him to flooring or is it more like a Gynecologist who knows and can do general practice stuff but chooses to specialize in gyno stuff? We need to know because we're having the work done under a rehabilitation loan and the lenders are being very particular about who does the work. Thanks!
  • Yes, he needs a license. Although most small contractors do a variety of trades (non mechanical- El, Plumbing, HVAC), your rehabilitation loan probably requires a copy of his license.
  • We were being threatened with foreclosure but have since paid our house up and our account is now current. Can the bank still foreclose on us? A friend of mine told me that happened to him and after paying whatever was owed to bring him up to date, the bank still foreclosed on him. Can banks really do that? How is that legal if you've paid your debt to stop the foreclosure? I know state laws are different. We're in California and so is our friend who recently lost his house.
  • No!
  • Logically you wouldn't think they could. But as we've seen with some of these screwed up banks, I guess anything is possible. I've heard many stories of people who are trying to work with these banks but get no cooperation at all. These banks are so overwhelmed with all of these properties that I don't think they have a clue. Some people are living in these houses for many years without paying before the banks even start the process to take them. You'd think it would be in their best interest to work with people but it seems many of them don't want to. I found the website below recently and it has some decent info on it if you want to take a look or pass it along to your friend. You may find some helpful info there anyway. Good luck!
  • In California, Tax, Title & License will be about 10% of the purchase price. If your truck is $20,000, you can expect to pay about $2,000 for all of these "closing costs". I figure that this amount is roughly similar to or less than the fees in the rest of the country. Most finance companies will finance this amount, if necessary to consummate the purchase of your vehicle (with approved credit). You will get finance terms with more substantial down payment (Lenders prefer to see 10 - 20% down). Hopefully this helps. If you need more specific answers, please let me know, before you choose the best answer!
  • These are additional charges. You must pay dmv and the state to title and register your vehicle and pay the tax on it.
  • taxes..depends on what state your in..TITLE is fees to transfer title to your name..LIC is cost of plate for car or transfer of your exsisting plate. All of these costs vary by state so you need to ask your dealer or call the AAA in your area they will tell you exactly how much
  • So here is the situation.....I bought a house with 96k cash. The seller lent me a remaining amount of 6k and put themselves down as a mortgage holder on the property. I have a mortgage of 190.00 a month. I lost my job and fell behind five months but almost caught back up and gave her 975.00 which put me one month and about a hundred still behind. In one week on the first I am giving her another 507.00 which will bring me completely current and up to date with everything including late fees. She cashed the check for the 975.00.....I checked on that. She is telling me anyway that she is going to forclose on me. I live in California. Can she legally do that?
  • It really sounds like you are still short on money. Are you sure you have paid this month - January? Are you keeping a spreadsheet? Late payment charges are fully legal, you must also pay these.
  • If you can prove you are current, she cannot foreclose. She does not seem savvy on how the foreclosure process works, it is not cheap or easy to do. But perhaps she sees an opportunity to take back a $100,000 property for a small debt, but obviously she has not taken the "auction sale" aspect into this.
  • Of course they can. However, it won't happen in a week, so you'll become current and it will be a moot point. The first is almost 2 weeks away, but she won't be able to foreclose even that fast, so again, moot.
  • FHA and fannie -freddie do
  • Any lenders who offer FHA or VA loans will offer a 5% down loan.
  • I purchased a car about 7 years ago and made payments on my own. My credit wasn't great and paid an exorbanant amount each month. When I got i to a relationship ~5 years ago my partner and I refinanced through her credit union. She is the primary on the loan and I am the secondary. She had to sign a waiver stating that she was aware that she would not be allowed on the car title. Now we are breaking up. She sent me a certified letter saying she was open to trading me cars (her's was paid off) and she assumed she would have to pay off my car. Now she is saying the car is hers and one the car is paid off she will own the car. Who is the legal owner of the car? We live in California. I have called the Credit Union and they said to me she has no legal claims to ownership. She said she spoke with them and they said since she is the primary te car goes to her once it is paid off. I am so confussed. Please advise, thank you!
  • The legal owner of the car is whoever is listed as such on the ownership as registered with the DMV, no exceptions. Anyone else can be a lienholder or other financial interest, but only the registered owner is the owner. There can be more than one owner, but all owners must be listed as such. A primary debtor on a loan is not the same thing, and paying off a loan does not change the legal ownership of a vehicle or anything else. Check your DMV documents on the vehicle, and you'll see who the registered owner is.
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  • extra money. Hahaha On a repo! Hahaha right this is what is going to maximum probably take place - the vehicle sells at public sale for a fragment of what you nevertheless owe on it. You, being the prevalent borrower, would be billed for the relax loan stability. do not pay and you'd be sued via the lender. the two you and your co-signer are on the hook for the relax stability and the two certainly one of your credit rankings will take a huge hit. nevertheless prefer to do this repo?
  • Under Cal state law she would never get the car. The best she could do is be bought out for half of the current value of the car and only if you could not prove that you made the payments.
  • I help people in foreclosure for a living in California and I specialize in short sales. Ideally, you want to call your lender and see what options and payment plans they can offer you until you can get back on your feet. You also might want to see if you can rent it out and keep it until the market rebounds. Con as opposed to a foreclosure, there is none since both will require you to be 1099ed for the loss. The best thing about a short sale is that you save a foreclosure from your records. Let me know if I can be of any assistance. Regards
  • If you except a short sale on a foreclosed home the mortgage company will 1099 and now you owe the government money. If you do not except a short sale you will only have a deficiency judgment.
  • Live in California, bought in Nevada. Foreclosing invest home in Nevada, Can BOFA go after the deficiency??? Can 401 k be used to payoff deficiency. Is it likely that BOFA will attempt to go after the deficiency. Spoke to an attorney , he told me that lenders are very active going after deficiencies but I have not heard of anyone being affected. Please help !!!
  • Try asking this in YA Renting and Real Estate Best of luck.
  • Basically, all of Southern California is flagged. Florida, New York, all the higher priced areas and many others that you wouldn't expect. I suspect that some enterprising attorney will file a class action lawsuit against lenders for illegally "redlining" whole areas of the country for reduced appraisal values with regard to LTV practices, but for now, your best bet is an FHA loan. FHA does not reduce appraisals or LTVs based on zip codes. If the apprasier is FHA-approved, the appraisal will hold-up. If the property is conforming for your area (these just went up), go FHA, and don't worry about the rest. Good luck!
  • try this link https://www.ugcorp.com/miunderwriting.html
  • FHA approval is not the "good housekeeping seal of approval" that you may think it is. It simply means that it meets minimum standards set by the FHA. If the condo you are looking at appears to be in good condition, you may want to hire a home inspector who is an expert in detecting code violations and other deficiencies. The fee is probably about $250-$300.
  • If I see the front i think of it is somebody from right here (Michigan) with a California plate in front for adornment (fairly effortless for some reason) on the grounds that we've not got front plates. in spite of if it is a respectable California vehicle i think of wow what a protracted stress
  • In Texas any costs for buyer inspections are the buyer's expenses. Now, some sellers will have an inspection done and a termite inspection done and provide that information to show their house is in good condition. But a smart, careful buyer will always get their own inspections done. In addition, your lender may require a termite inspection report that shows the inspection done after you went under contract.
  • on the same time as the broking could grant a report, you're able to nicely be far wiser to have your individual inspection finished. there's a threat that the broking's inspector will grant a report to healthful the broking (exceedingly in the event that they have an prolonged relationship), perhaps by way of fraud, yet perhaps in simple terms human nature. it is probable extra significant in southern calif. the place the termites are extra a topic. If uncertain, ask your lawyer.
  • I would think the seller, just add it to the total amount for the house. Why should the buyer have that expense and maybe not buy the house.
  • The BUYER. The seller is not required to pay for ANY inspections on their own property. Period. If you want it, you pay for it.
  • When I bought my house years ago, I paid, but the cost was figured into the mortgage
  • I am hoping to sign up for a program (BS, MS and Phd in Holistic Health) with The Global College of Natural Medicine- they are an independent study college in California but I live in New Jersey and participating by mail. They are approved by the Bureau for Private Postsecondary Education and accredited by American Association of Drugless Practitioners and American Naturopathic Medical Accreditation Board. They do not accept federal or government funding and I have found I can not apply for a student loan because they are not recognized by any of these banks. Any suggestions on how could manage to get approved for a loan? The program is about $ 11,000. I live on my own and had two faults on credit cards that have been settle about 2 years ago.
  • you need to realize that a school that the government does not allow federal student aid is NOT a reputable school. There are many reasons why the feds don't give them federal money and NONE of them are in your favor. Don't let the school fool you, 'does not accept federal aid" means, "they won't give our students that privilege because there is something wrong with us. RUN, don't walk, to the nearest REAL school. LOL
  • The Bureau for Private Postsecondary Education is a government agency in California, they are not an accreditation agency and the American Association of Drugless Practitioners and American Naturopathic Medical Accreditation Board is not a recognized accreditation agency by the US Dept. of Education. The reason they don't accept federal funding is because they're not eligible to. As far as the US government is concerned, they're not a real college. If they're not even recognized by banks, why would you think they're a legitimate education institution? They don't even have a .edu website, that should be a dead giveaway that it's a scam. Edit: So you can get "certified" by some equally dubious organizations. A useless certificate does not make a useless degree any less useless. This is how these "colleges" work: You sign up for the bachelor's program and give them money They mail you some books and videos You take some online tests They tell you that you passed (or the tests are so easy it's impossible to fail) and get you to pay for the next program. A degree from a school that's not accredited is a degree that will not be taken seriously by anyone. And in some states it may even be illegal to call it a degree.
  • They are not accredited by any of the organizations you would expect a serious school to be accredited by. This happens all the time. A "school" brings in students and gets them big loans to pay the tuition. At the end, the students don't get the good jobs they were promised, and they're stuck with big loans and no way to pay them. I know you feel financially insecure. Please don't let your desperation drive you to do something that will dig you into a bigger hole. "They do not accept federal or government funding" is not quite the truth. "The government won't let them bring in students with federal loans because the school is a scam" is closer to the truth. Please don't be fooled.
  • BA stands for Bachelor of Arts, MS stands for grasp of technology, MA stands for grasp of Arts, PhD stands for surgeon of Philosophy.The order of path for Biology is BS(Bachelor of technology) then MS then PhD. until eventually you will proceed to drugs path, Biology path is a prerequisite for suitable drugs classes. BS Biology is unquestionably certainly one of the pre-Med path
  • A Full Reconveyance. Your lender files a full reconveyance document with the county recorder and the lien against you property is removed. By law the lender must record the full reconveyance within 30 days after payment with the county recorder where the property is located. It will take about another 30 days for the county recorder to record the document and sent you a copy.
  • You get a letter congratulating you. Your signature page on the loan marked Paid in Full and a notice that they have filed with the County office of Deeds and Records to withdraw their name from the deed. You will in 3 to 4 weeks receive a copy of the old deed marked paid in full and a copy of your new deed on file in your name only. Put these in a safe place. Not 3 months after this the morons at the Mortgage company called looking for the last month mortgage payment. They admitted they did not update their records.
  • in the event that they sue you, you may be required to pay hire for the time you have been interior the dwelling house till now last. Sorry. interior the absence of an contract, the court will probably be sure honest industry hire and you will pay it. no rely if or no longer that covers the broker's loan is beside the point.
  • Bought this house for $116,900. Still owe about 88,500 on it. Selling it for $89,900 but with realtor's commissions, it will be a short sale. Under HAFA, there is no deficiency judgment but I will get a 1099 to submit at tax time, such as Mortgage debt forgiveness act or submitting Form 982? What are my tax liabilities and can I negate them under certain circumstances?
  • If your state law will not allow for a deficiency judgment there is no additional debt to cancel. In my state, California, the most a mortgage lender can do when a purchase money loan defaults is take back the collateral. This would result in a sale for the balance due even if that was more than the actual price paid by the buyer.
  • Generally speaking, if this is your primary residence, the forgiveness of debt will not be taxable. The amount on the 1099C will need to be listed on Form 982 but the amount will not be taxable.
  • See IRS publication 4681. The issue will be if this was your main home. It doesn't sound like you ever refinanced and used the money for non-house debt.
  • You need to have an appraisal done - online web sites will only give you an approximation and use a wide range of parameters. A market appraisal by a good real estate agent will procide you with a more realistic view of the property's value (a professional appraisal will obviously give you the best snapshot view since that would be what a lender uses to make the lending decision).
  • http://www.assessor.saccounty.net/default.htm There is a section listed on the left that will allow you to look up the county assessor's property value. This is not going to be the same as the selling value, though - which would be based on comps sold in the neighborhood. For that you would need to enlist a real estate agent.
  • You would hire an appraiser or ask a commercial real estate agent (or several of them) to prepare a comparative market analysis for you.
  • What state? If California, it makes up the difference between the price you paid and the old assessed value for the period of time during the fiscal year you are in the home.
  • You need to contact the escrow department of your mortgage company. They may not have received the bill. If that is the case, it will need to be changed with the county or whatever governmental entity issued the bill.
  • sounds like this is a copy of a tax bill that your mortgage company receives and pays. To be on the safe side just call the mortgage company and verify this is correct.
  • That is condo or coop living. the big problems occur when other owners fail to make their payments leaving the association without the means to meet the bills. Others have to make up the shortfall. You should be questioning the condo Board on this matter.
  • Homes are reassessed after purchased. This is usually the additional taxes owed due to the reassessment.
  • I have a monthly mortgage payment and to pay my mortgage off sooner, after my next monthly payment, I want to start paying 1/4th or 1/5th of my payment each week (depending on how many weeks there are in the month, but my lender says I "can't" do that because the computer is not set up to handle the payments that way, but to me that doesn't mean I can't do it, it just tells me they don't want to do it. What are the rules/laws regarding that sort of thing? My loan has no prepayment penalty and it is 30 year fixed.
  • Dan B - My thinking was (which is why I'm asking about the rules) that if they apply my weekly checks (which will 3 of 4 will arrive early) when they arrive, it will stop accruing interest on the paid amount sooner than normal, and that over 20 years or so, those early payments would reduce the payment time significantly without paying any more money out of my pocket. Your idea means paying extra money each month, which I am trying to avoid.
  • The financial system is set up for monthly payments, not weekly payments. Just send in the scheduled monthly payment and add the extra 1/12th of a payment amount to the check, marking the extra to be applied to the principal. It accomplishes what you want to do. Sending in a weekly check means you have to reconcile 4 (or 5) checks each month. Wasted effort. The 1/4th or 1/5th amount is based upon the 30 yr note. You won't pay it off faster because you are not really sending in any extra money. You are just splitting the monthly amount into 4 (or 5) equal parts. $200,000 @ 6% with 12 pmts/yr = 231.676 interest with a payoff in 360 months $200,000 @ 6% with 52 pmts/yr = 231,387 interest with a payoff in 1560 weeks (30 years) $200,000 @ 6% with 12 pmts/yr + 1 extra payment = 182,538 interest with a payoff in 295 months $200,000 @ 6% with 12 pmts/yr + 2 extra payments = 151,876 interest with a payoff in 252 months Most mortgage contracts will not allow partial payments (mine doesn't). Sending in a weekly check is a partial payment. Not the same as sending in an extra amount to be applied to the principal.
  • That won't do it. If you make a payment every 2 weeks of half your monthly payment, this will be the same as making one extra payment every year. This is because there are 26 payments (52 weeks in a year), which equals 13 monthly payments. Doing this should pay your mortgage off in about 23 years as opposed to 30.
  • I work for a nation wide lender. We have many homes in southern cal. You can email me and I will send you what we have. Our list updates every two weeks. You can also look directly on the HUD web site. ( the list my company has is free no strings attached.)
  • Check with your local title company or your local county office. They should be able to help you located houses that are going into foreclosure. These types of properties are usually referred to as "Pre-Foreclosure Properties." If you are looking for real estate that is already owned by a bank that has foreclosed on the property. This web site may help. www.deeppockets.com Thomas Rushing Golden Lily Properties "We Buy Houses" Thomas@Goldenlily.net (866) 800-1002
  • Call the various banks in your area and ask for the REO department. Many might not know what you are talking about so ask for the number to the main branch. REO stands for Real Estate Owned. Banks are not in the business of real estate and homes they've foreclosed on look very bad on their books. With foreclosures being so high, you should be able to find plenty. Often times, you can get the home for less than the bank is owed...it's that important to them to get them off the books. Go to the bookstore and look for books on "Short Sales"...that should help a lot or please use my A-store. http://astore.amazon.com/hotjohnniecom-2...
  • In Ca, while a house is going into foreclosures and is taken returned by potential of the financial employer, while you're a tenant they might desire to furnish you/ submit a 60 day be conscious to go, and in case you do no longer circulate on the top of 60 days, they might document unlawful detainer (eviction) against you to regain possession of the valuables. changing the locks isn't a legal element to do and you ought to touch the police if this occurs returned. The police will coach the only doing the violation of the right rules. as quickly as you get the 60 day be conscious, you will be able to desire to go through fact the clock starts ticking. till then, shop a replica of your lease available for the subsequent time they attempt to alter the locks. Are you optimistic its a financial employer Rep doing this? maximum banks recognize the guidelines and abide by potential of them. Did you get a 60 day be conscious and not vacate interior the time cut back? Regardless, an unlawful detainer via the courtroom is the right way for them to take the valuables returned.
  • The very fact that you do not know were to find this information shows that the market is not an open fare and fully disclosed housing market. These banks are shorting the market thus make or trying to drive up prices. Duh this is how the bubble was. Since you live in So Cal get and stay out of debit and save. All so check out this web site and you start to understand the market. Best of luck. http://www.breakingbubble.com/index.htm
  • Hi Patricia, contact me and I'll help you out. I mostly deal with pre-foreclosures, but I can help you locate and buy bank owned property for free because I get paid by the bank's agent. Regards
  • try your local court house and newspaper. They have forclosure notices in them. The court house has to offer up estate and other property on the court house steps. It's just up to you to do the home work and find out when this events happens. Of course you will have to have back tax money or money to catch up the account to work with whom ever has the property.
  • freesample1 gave the best answer....if u've got time 2 do the legwork...newspapers and the courthouse. get ready 2 have a bank letter of prequalification in hand b4 the bid date. u'll have 2 show financial ability 2 back your bid.
  • http://www.ocwen.com/reo/home.cfmThese guys list all the VA foreclosures and a number of bank REO's. Good Luck.
  • realtor realtor realtor dont pay a site there not updated and realtors are up to date--feel free to use multiple realtors as i buy houses and one realtor has a list of houses while another will have some of the same addresses and some not on the first realtors list
  • Being that it's now 2008 can a bill collector legally make a person pay them back monies owed on a debt that was made between the year of 2001 and 2003? How long does something like that stay on your credit and if the original lender sold the account to another company...does the statute of limitations date start over?
  • For a written contract, the statue of limitations is 4 years, so you are in the clear. The exception to this if you have made any verbal or written promise to pay in the past 4 years, even if you did not. SOL does NOT start over if an account is sold to a collection company. Go to www.creditnet.com and the forums there are full of people willing to help you out.
  • 7 years
  • The only way anyone in the sales/real estate business will EVER stand out is by doing more for others then any other agent can offer. And making ME their preferred lender! =) The more you contrubute the more you make, the more you make the more clients you have, the more clients you have, the more your name as a real estate professional gets spread around town and so on and so on and so on! You only stand out in the crowd when your different then everybody else. sadly we have too many agents out there these days who do not know who to react when someone tells them no for the first time and they walk away from the deal. Anyone who is in sales is NOT TRULY doing their job until someone tells them no, A professional salesmen or women know how to take NO all the way to the bank and cash it! And that’s how they stand out and become BIG TIME and TRUSTED! Few people have this skill so it's no wonder why only a few people stand out in the crowd. Thanks for your time, Tyler.
  • If you mean to your customers - then I would say, make sure you are connecting on a personal level with them. Let them think/know you will be on the lookout for them. Let them know you can trust them. After the sale, follow up with a thank you gift! Stay in contact with all your customers afterwards. If you mean to other Realtors, something flamboyant, perhaps?
  • 1) Try joining a local tips group and networking 2) Ask your assistant to help with marketing letters and such 3) Offer referral fees to past clients - if they refer a friend to you, and their house sells, the referrer would get a kick back of like $50 or $100. 4)
  • Sell a house that no other realtor can sell. Do something important.
  • Use your "Triple Nipple" moniker in your advertising!
  • In Nevada, Florida and California there are some of these loan companies that are flat out ripping people off. They charge 2% of your home value (or some other large fee), they promise to re-modify your loan. And THEN they do absolutely NOTHING for you. Google "making home affordable. gov" You must contact your current lender first to see if they can modify your loan. If they refuse, these government people will step in if anything can be done. Don't fall for this scam - like thousands of other people have. Not sure if your company is a scam. But if they charge you up front - chances are they will just pocket your money and offer nothing in return. /
  • A friend of mine told me that she got a flyer in the mail that says they will help you to lower monthly payments.She said the morgage companys take you more serious if you stop payment. I have lived in this house for three years and never missed a payment but I am not sure if I should do this I live in California and bought the house for 550,000 three years ago with a interest only at 7% 30 year fix. She said if I call the mortgage company they wont take me serious
  • Lol, DON'T!!!!! do it. If you don't pay your mortgage it will only lower your FICO score, making it harder for you to get a loan later on leading to higher payments. The mortgage company won't take you serious because not paying your mortgage is an awful financial decision. If you want lower mortgage payments wait until the economy recovers and hopefully mortgage rates will go down then you can refinance your house at a lower interest rate.
  • That is the worst way to go about getting a lower monthly payment. I would go to the bank that holds your mortgage and see if you can refinance at a lower rate. If your rate is already below 7% I would keep the payments that you have. Since you have never missed a payment why risk losing your house by not making payments.
  • Yes I would always make important financial decisions based on a flyer my friend received in the mail ,now if you are also interested I have a large bridge called the Sydney Harbour Bridge I m selling cheaply ,both equally doubtful statements, if you are having real trouble paying your loan then speak to your bank ,otherwise suck it up and keep paying. This is the sort of thing that has gotten the US into the state it is in.
  • Well, if you wish to really mess up your credit, just miss those 2 payments and you might also lose your property. Never listen to friends if they are not in the business or educated in the ways of the business.
  • http://www.naca.comthey help people in your situation, well with as much as you have shared of your situation.
  • Sell the house -- you do not owe that much after the house is sold and after you pay off the second mortage. Don't know why the panic -- you got all the cash. Sell for what you owe and forget the capital gain. Or pay off both loans and stay their till the housing market comes back up... A lot of people don't like to make the increased payments -- that is why the country is all out shape over mortage loans. Stay in the house till it fore closes -- could be a year before they get around to you. One year free rent...
  • It really depends on your situation. You haven't given us all of the facts. If you are drowning in debt each month, bankruptcy might be a great option. On the other hand, if you have good credit and your only debts are your house, I wouldn't even consider declaring bankruptcy. Speak with a bankruptcy attorney and explore all of your options. Good luck.
  • Will take time since it's for Solar panels... I searched WhatWhichhow.com and got some Blog posts about Quick loans
  • You could call your aunt, but you could also skip her and call the attorney handling the estate. Just because the house was sold, does not necessarily mean the estate is settled. There may be outstanding expenses (medical, legal, open debt) that have to be settled before the estate is paid out. Once all creditors are paid, you should be able to receive your share immediately.
  • I was executor. I paid off all heirs 5 minutes after the house was sold. I didn't want one single person wondering where their money was. I gave each one a "settlement" sheet that showed all the figures. /
  • Yeah, you should have gotten it by now- your going to have to contact your aunt and I am sure she'll have a lame excuse. Day of closing she would have gotten a check.
  • It is quite expensive in Ventura. The job market is California is one of the worst in the country right now. Far worse than states like West Virginia. Many of the big mortgage lenders were in that area and they laid off close to 100,000 people in that area when the housing market went bust.
  • my rental condo went into foreclosure earlier this year so i filed chapter 7 in august. the condo foreclosed in september and bk discharged in november. the hoa sent me an invoice on 7/27/10 with the dues, lien, and legal fees owed prior to filing so I would know how much to list in the filing. I received a balance statement dated 9.23.10 that credits my account with the aug. and sep. dues I paid post filing, but carries forward the pre-petition balance as balance due. the condo foreclosed 9.28.10 and the hoa billed the lender for oct. and nov. dues. Unfortunately, I also paid them the oct and nov dues because those checks are automatically generated from my bank. I requested a refund for the last 2 months dues, but the hoa wont issue the refund unless they get to keep a "post bankruptcy, monitor lender foreclosure legal fee" of $150". My own bk attorney doesn't know if that's legal. she suggested I take them to small claims court. I contacted a few more lawyers, but their fees are more than what I could recover in court. the cc&rs are very vague, they say the hoa can recover legal fees on foreclosed homes, but cannot collect if the assessments are paid on time. It doesn't mention anything about pre and post bankruptcy debts. So how am i supposed to know if the hoa can legitimately keep a portion of money I paid them in error or if they're just hoping I don't call their bluff?
  • Sue the HOA in small claims and claim that your debt was discharged in BK and that you do not owe the money. Worst case, you lose the case. Why are you asking for legal advise here. You already have received good legal advise from a better qualified source than you will ever get here.
  • That sounds like Arizona's law which requires all payments received to be applied first to dues & assessments. It then mandates the order where excess payments, if any, can be applied. As you stated, that is because those fees and fines are not needed for the day to day operation of the HOA, as your dues are, so receiving them are not essential for the HOAs survival. And also it prevents current dues payments being applied against late fees, interest, fines, etc. and thus allowing the current dues to become delinquent and subject the property to another cycle of late fees, interest, etc. and more importantly, foreclosure because of non payment of dues and assessments. In Arizona we can foreclose only on non payment of dues or assessments after a dollar or time factor is reached. That is why it is always so important to pay your dues and assessments on time.
  • Can't hurt to take them to small claims court. Since the condo was foreclosed in September, you did not owe any fees for october or november. Even though you paid for october and november, the hoa knows it was a mistake, knows that they are not entitled to keep the money, and knows the money must be returned to you. Refusing to return the money that is not rightfully theirs, unless you pay them, is called "extortion." Go to small claims court, explain your story to the judge, and let the judge decide.
  • maximum HOA's are businesses and the "articles of incorporation," yet no longer the by-rules, are filed with the state. counting on your state, the registration information about the organization might want to nicely be accessible on-line, or you would possibly want to nicely take care of to get the information by telephone. look contained in the phone e book for a itemizing contained in the state authorities pages. it would want to nicely be called the organization fee, or something similar. also the builder might want to were required to report the organization's articles and bylaws with the city or county at the same time as he received subdivision approval. That relies upon upon your community rules, yet you would possibly want to examine with your community authorities. The community govenment organization responsible might want to nicely be called the progression branch, planning branch, zoning branch, progression branch, or something similar.
  • I am looking to purchase a home without my spouse as we do not live together however we are not legally divorced or legally seperated. My spouses name is not on any bank accounts and or credit obligations. Other than tax purposes as a dependent there is nothing that would state that we were even married. I have spoken to a few lenders and they say that because it is acommunity property state that they need to pull their credit. Please let me know if there is another alternative.
  • If you re-post your question at Business & Finance>Renting and Real Estate I'm sure you'll find the answers you're looking for. Good luck!
  • Unfortunately you must show up in court and defend the action or you might get a judgement issued against you. However the holder of that 2nd will lose on 2 grounds. Firstly, the only remedy a secured lien holder has when you are being foreclosed on by the first is to bring that first TD current and then start foreclosure himself on his second. Of course no one will do that if the property is under water. Secondly, the Statute of Limitations in California on monetary debts is 4 years. If no payments are being made for that length of time, and you did not admit to the lender that you still owe that money, then his chances to sue you and win are over. NEVER ever admit to anyone that a debt is still valid, because that tolls (stays) the Statute of Limitations and the time period starts all over again.
  • Yes, there is a statute of limitation - 2 years.
  • I am looking to purchase a home without my spouse as we do not live together however we are not legally divorced or legally separated. My spouses name is not on any bank accounts and or credit obligations. Other than tax purposes as a dependent there is nothing that would state that we were even married. I have spoken to a few lenders and they say that because it is acommunity property state that they need to pull their credit. Please let me know if there is another alternative.
  • No other choices. Community property state. 50% of that house will be his if you like it or not. You can buy the house, but you can not exclude him unless you are divorced. Even with a divorce he is not 100% excluded until the divorce is final.
  • Beware: California is a community property state. However, you can: 1. Purchase the property as "John Smith, a married man, as his sole and separate property". 2. Make damn sure that ONLY your money goes to pay each and every expense associated with the home. If you commingle $1, then it's community property.
  • No other alternative. ANYTHING that you accumulate while you are legally married is an asset of the marriage. DO NOT buy a house while you are still married. He can make a valid legal claim to it.
  • In California, I just sold my house. I signed paperwork saying that the removal of pest and property inspection was subject to the seller (me) crediting the buyer a certain amount of money in escrow for non-recurring closing costs (NRCC). We've closed escrow, but I've been told there was a hitch that the lender wouldn't credit the money, so I need to send the buyer a check. This seems odd to me. Is this usual?
  • with short sales, etc, nothing is usual anymore; sorry check with your agent.
  • relies upon on the case regulation on your state. In Texas, the last date isn't a "time is of the essence" date, so the courts have held that last is to be through the reported date ... "or fairly thereafter", in spite of which potential. the alternative era is a "time is of the essence" date, so at precisely nighttime on the reported date, the alternative era ends. Ask your broking service to communicate with the place of work lawyer or call the authentic property fee on your state. How a lot longer will it take previous the settlement last date? If it really is going to be a pair days, the agency might want to enable it close in any case - if it really is going to wish some more desirable weeks, then the agency would have reason to rigidity that he needs to get it decrease back on the marketplace to get a shopper to close previously the proper of November (shoppers will commence drying up after then)
  • Happy New Year! I need help on this: Our mortgage with our East Bay house have reset and we're paying $700 extra every month. Its value is below water ($100K less) and we're very tempted to stop paying it. It's just too much :( We lived there for 2 years and now it's a rental property. We have purchased our current primary residence a year ago and it's currently for sale because we're having problems making ends meet. We've had several open houses but didn't get any offers :( What should we do? Should I stop paying my East Bay house and keep my South Bay house or should I make it my East Bay house our 'primary residence' and hopefully negotiate with the bank? We're at a lost. We don't know what to do. Any advice is greatly appreciated.
  • ================== GVD: I'm not behind on my mortgage payments but I'm afraid to run out of funds soon. I work in the South Bay and I don't have kids. Will I qualify for an FHA secure loan even if it's a rental property or can it be considered a primary residence since I lived there for 2 years? Don E: My realtor did a comparable for my East Bay house and it's 130K less than what I owe. :( Gregory B & a2zLoanQ: I called my lender a million times (really!) after being passed on to different deparments and I tried negotiating with them several times but the problem is it's not my primary residence and I spoke to the loss mitigation department and since I'm not behind any payments they will not even look at modifying my loan. It's so ridiculous! I have to ruin my credit first before they consider modifying it. I can't believe it. I'm hoping that I qualify for the Mortgage Relief Act but I don't know if it's implemented already. Thank you everyone for your answers! I appreciate it
  • 100k is not that short for the east bay, just like 700 is nothing. I would talk to the bank about a short sale.
  • Not enough info. How much do you owe on each house? How negative are you? Where do you work? Where do your kids go to school? Too many questions ... Don't give up on a refi until you speak with a broker that knows your market (East Bay/South Bay) If your payments are now current and the reset is causing you to have problems, FHA secure might be for you. Edit; No you won't qualify for FHA secure unless you are behind but there are programs available to you. Feel free to contact us to discuss those options.
  • i'm not having young babies or getting married, don't be conscious of touching directly to the loan. in case you desire to very own assets and you at the instant are not a millionaire or you purchased no mothers and fathers to inherit from, how else are you going to get it? yet then possibly it is not nicely worth getting? a million. style of agree. a great type of school ranges placed you in not extra suited of a place than whilst they did not have one. a level in specific matters like physics or regulation would nicely be somewhat functional. provides a good number of suggestions and in all probability a severe income. you assert it won't provide you any experience or which potential in life, this is genuine, yet once you appeared for that throughout your job, you will not have one. I now and lower back paintings 7 days a week, 10 hours an afternoon (a great type of this is time beyond regulation)... a minimum of i could have the satisfaction of understanding I also have a fat salary coming in on the top of the week. 2. loan set up so which you would be able to not pay it lower back? whether you do not, you're residing in a a million/2 respectable domicile. 3. Agree generally. babies suck, it somewhat is ideal to have them in case you have a severe income. I easily could not grant for one. 5. that may not consistently the case... yet yeah that advantageous does suck for those it occurs to. i'm hoping you have have been given a extra suited plan for yoursel...
  • Negotiate with the bank first, owning property is not really what they want todo they are in the investment business. Second, consider and Equity Splitto takesome of the negative payment off you and pay you mortgage down. The market will turn if you can make the right decisions. Good Luck!
  • So many people are upside down right now it is scary.My son in laws house payment is $2,500.00 a month and he is moving out for them to foreclose on him.Because you probably have both homes tied to the loans you could loose both in a foreclosure.I would have a Realtor run a comparable for your area and drop the price as low as you can and see if you can still come out ok.If possible sell the one with the most equity and put it down on the other and refinance.If their is no equity,I`m sorry it is just a matter of time till the bank forecloses on you.
  • my suggestion to you is short sell the house. This would mean you are selling the house. The bank doesnt want your property. They would be willing to take a loss on the mortgage to get the house sold. Where is the house located? We currently do short sales in New jersey. email me if you need more help nationalbusiness_a@yahoo.com
  • Honor the contract you signed. Find an additional job that will cover increased mortgage payments.
  • It depends on the state where you live. In California you do not need to abandon (as you put it) the property just becuase of a NOD (Notice of Default). The NOD gives you time to pay up or the lender/bank will take foreclsoure action. The whole process takes approximately 120 days. Once the foreclosure takes place you will receive additional noticing to vacate. Consult an attorney or even better the lender/bank to see if you can work it out and how if not how much time you have.
  • There may be a period of time where you can appeal the Order of Default. However, don't you think you should have appeared in the first place to AVOID the Order of Default?!
  • My house in California was going into foreclosure. I got the 3 day notice to quit at the end of June. On the first week of July I moved out. I completely emptied my house. It was hurting to leave my house, but it went into foreclosure. Now, on September I got an Unlawful Detainer NOTICE filed on my old house. It was filed by a new bank, not from my lender. I guess Well Fargo (new bank) bought our property and now wants to evict us. There is NO NEED to evict us, WE ALREADY VACATED THE PROPERTY. We have proof from our new lease agreement where we are renting now, and a receipt from a moving company showing we moved out on July 3. How should we file the response? I understand the response is to fight the landlord, but we are not fighting them. I just want to tell them that we moved out already. do i have to wait for the summon? i want to resolve this issue now at this stage, if possible. thanks in advance for your help.
  • I forgot to mention, this was just a Notice that an Unlawful Detainer has been filed. This is not a summon yet. It only lists the Plaintiff as Wells Fargo, but there is no phone number or an address. So my response has to go to the court first, and they rejected my written response because it was not "in proper legal format". I have to use a proper form and pay for the fee which is from $159 ~ $320. This is all unnecessary. We have vacated the property already. I've heard that banks that buys from auctions do not know if the previous tenants still occupy the property, so they file eviction anyway just to make sure. kinda unfair don't you think? help.
  • You must respond to the lawsuit. Tell it like it is. Calling the bank is OK but don't rely on the call to straighten things out. They are a huge bureaucracy and one department does not know what the other is doing. By the way, you should communicate by mail and not phone calls so you have a record of what was done and when etc.
  • Call them and tell them you vacated in July. They need to know that the property is no longer protected by the $300 billion law signed in July so that they can get the property resold. Good luck.
  • This is important to you, as Wells Fargo has now created a public record saying you were evicted. This will have an adverse affect your ability to rent property in the future. Talk to an attorney. Your rental record is as important as your credit record. A rental record affects your ability to find someplace to live.
  • Assuming we are speaking approximately late lease, i could circulate with A: i does no longer take the prospect that a decide could toss the present case ie have not got any status to convey considering you now no longer truthfully poses the valuables in spite of in case you in basic terms amend to monies so it might desire to no longer be unlawful retainer yet small claims settlement dispute at this element in time yet as published: you have the protection deposit situation to handle besides
  • Call and tell them that when you vacated the property.
  • any conventional loan would do. However, since this will be a non-owner occupied property, many lenders will require a 10% down. If you are in California, we have 100% loan for investmenr properties. Contact me if you have any questions. ... Mortgage adviser
  • It would have to be Non-Owner Oc, Investment property. A Conventional loan is always the safest, but if you have equity and rent is more than mortgage try an IO. You can get 100% financing by breaking it up into an 80/20 or just 1 loan at 95%.
  • If you're renting the other two out and bring in enough cash on them to make the mortgage payments, and if you plan to live in the new one, an ordinary conventional loan is what you want since it will be owner-occupied and will be used as a primary residence. If any of the homes are vacation homes, you'll probably have to take out a vacation home mortgage at a somewhat higher rate.
  • Is this a 3rd home for you or a rental? If it's for you, do you really think purchasing a 3rd home you have to take out a loan for is a good idea?
  • I like the 30 fixed Interest only loan the best. It is interest only for 10 years. If you don't like an IO product I would get a 30 year fixed. Matt http://www.diversifiedlender.comhttp://www.homemortgageminnesota.com/http://www.refinance-second-mortgage.bizhttp://www.minnesota-mortgage-rates.net
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