Posts tagged "Advice"

Unique situation… Refinance and cash out to down for a new home?

I own a 2-family home worth 370K. I still owe 88K with 12 years left on a 15 year loan. I owe a family member 200K in loan. I need to pay the family member back now. Can I (should I) refinance for the value of the home and pay off the family member with it? Basically, I’m moving from a non interest family loan to a mortgage. I know that, financially,it’s a disastrous move, but the situation is what it is. Also, if I wanted to buy a new home and put this one up for rent…would it be wise to refinance for, say, 320K (200K goes to the family member, 88K for the remaining mortgage, and 32K cash out to down for the new home)? So in the end I would have one two-family home up for rent and a home I will reside in. I’m hoping the rent from the two family home will cover the new 320K 30-year mortgage and my income 126K/year (gross) will cover my primary home’s mortgage. Which leads me to another question, at that income level, how much home can I afford? Thanks to any advice anyone can give!

The house that we are renting was quit claimed to a company that’s out of business, who do I pay rent to?

There is a mortgage with another company but, since I am not the person on the loan they will not talk to me. Any advice of how to protect myself from being evicted? This is in Orlando, Fl.

What is the diffrence between a credit union and a bank?

What are the advatges and disavantage and beniffites of both?

The only thing that is that my bank “BB*T” is extreamly close to my house like walking distance but my credit union wich I am thinking of joining “Fairfax Credit Union” is about 10-15 miniutes from my house so what would you advice me to do? Stay with my bank or move to the credit union or keep my bank and just open a new account with my credit union? Like what are the advatges over a credit union then a bank?

I applied for a loan throu Washington Mutual but never signed anything or paid any money. Am I locked in?

I only interacted with the loan officer over the phone. He told me he would lock in a rate but when I recieved a copy of the application the rate was higher. It also said that I didn’t need to sign anything unless asked. Can banks fill out mortgage application for you over the phone and have it bindng if I didn’t sign anything or pay them any money? Found a better broker and would like to switch but Wamu is telling me that I’d have to pay for some of the things they’ve already done. My realtor told me that they haven’t done anything and the law office said that unless I sign something or give someone money nothing is binding. Is this true? Can I switch to a different lender with better rates without any penalties? Doesn’t make any sense to me that a bank could lock you into a mortgage over the phone without any signatures. I never even meet the loan officer face to face. Would appreciate any advice/knowledge on this.
Thanks

Any advice on bad credit mortgage loans?

How do I build a successful career as a good mortgage loan officer in a down housing market?

I have recently become a mortgage loan officer in the DFW area. There is not a lot of experience in my office. Any advice where I can get assistance to survive this market? I would be happy to learn how to close at least one loan per month then build from there. Thanks for your assistance.

Motorcycle Accident

On Sept. 9, 2007 in New Jersey, I was a passenger on my husband's motorcycle when very abruptly the car in front of us slammed on its brakes causing us to slide. My right lower leg hit the rear rubber inlayed bumper of the car and that caused a severe 3rd degree friction burn.

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Another question about arrested at 1:48am arrive at jail at 4:00am

I thank you for your time. Since my DUI 9 days ago I have attended 3 ADAP classes and 6 AA meetings.

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What is a good professional quality brand of photo printer for digital photos?

• professional quality photo printer

Privately sold vehicle with terms of monthly payments

I'd appreciate any help I can get. My husband sold his vehicle to a woman in Dec. 2010

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