Posts tagged "Current"

Can new auto insurance company find an incident not reported with DMV but claimed with current insurance comp?

I want to change my car insurance model, I called an accident for which I have no ticket. So it will not matter if I report to the new company, while asking for quotation? Insurance companies talk to each other or share data?

How does mortgage fraud affects the subprime mortgage crisis?

In the current crisis in mortgage lending in the United States enormous amount of fraud guides have been discovered. What is the part that these frauds played in the mortgage crisis real? Thank you.

Who’s responsible for the mass number of recent and upcoming home foreclosures?

A significant number of people that don’t qualify for traditional home loans accept subprime loans to get into a home of their own, often without understanding that their mortgage will jump dramatically.

Lenders, on the otherhand, are making loans to people that can barley make the starting mortgage and will find it almost impossible to make the payment once the mortgage increases.

Many people got into these loans with the expectation that the value of their home would increase and they could refinance, but in the current cool market it’s nearly impossible to refinance.

Again, who’s to blame? A person for taking the loan they can’t afford or the lender that knows that the family will probably lose the house?

• lending cash

Which is better to pay off car loans, credit card or put money toward mortgage.?

My husband and I have two car loans one at 4,800 at 4.9% the other at 14,400 at 6.15% and a credit card at 10,700 at 7.9% but we also have a mortgage. What I’m planning on doing is having my husband sign up for another credit card because the current offer is no interest till 2008 (including balance transfers, there is a fee but the max fee is about how much we pay for the finance charge in one month. What I don’t know is if I should put our tax refund toward bringing down the lower car loan so the 230 we put toward that every month can go to something else sooner or if I should put some toward the car and some toward the mortgage each month. We don’t know if it’s better to pay the min on the mortgage and put more toward the other loans or put a little toward the mortgage and one of the other loans. And yes while doing all this I do put a little towards savings each paycheck. Forgive me for rambling but I wanted to be as detailed as possible. Thanks!
I’m not cancelling the current card the one I would be transferring to has an apr of 9.9%. So I would transfer what’s left after the 15 months back to the old card.

What happens in a second mortgage foreclosure.?

A house is being foreclosed and posted in the news paper. I did a title search and the current foreclosure is for the second mortgage. Does anyone now what happens to the first loan. If I bid and won would I get the house.

I was under the impression only the first lender had the right to sell the house to secure their money and the second lender was left to fend for themselves / take it up personally with the borrower. I am confused as to why the foreclosure of the second mortgage is in the paper.

Thanks for any help.

2 Loan Modification Questions?

1. Due to a decrease in income, I applied for a mortgage loan modification with my bank back in April. I just received notice that they are recommending me for a loan modification. What is the next step? Does this mean that my loan will definitely be modified or is there still possibility for denial?

2. If I do get my loan modified, will that go against my credit? I have not yet made one late payment. I’ve just deminished my life savings trying to keep my loan current and my credit in good standing.

How to get your mortgage company to remove delinquencies?

My husband and I were late on our mortgage payment last year and requested a loan modification. We had tried to resume making payments while they were supposedly processing our loan modification. They always return them. We call them every day, attempting to contact the person that is supposed to be working on our loan. Our mortgage company (Countrywide) has not contacted us in any way and always says that the person working on our loan is not available. Because of their now six months of not working on the loan modification they assured us was going through last year, we are showing seriously delinquent on our loan and getting more behind our mortgage all the time. Can we make a lump sum payment to bring everything current and write on the check that if they cash the check they are agreeing also to remove the delinquencies? Is that legal and binding? Thank you!

Shawn bought a home with an adjustable rate mortgage. The margin on the loan is 2.7% and the rate cap is 7.2%?

over the life of the loan. If the current index rate is 4.3% what is the initail interest rate of the ARM?

• shawn bought a home

Can I refinance my current house and get a VA loan?

I am a veteran, used it in the past and got a mortgage again without the VA. now that rates are really low, I really want to take advantage of these rates and I want to use the VA so I can avoid PMI and I understand there is a funding fee with the VA

I have a current, 40% loan to value mortgage, can I get some government relief?

I’ve been a responsbile person all of these years and currently have a 40% loan to value mortgage. I’ve been reading all of the stories about politicians wanting to bail out the irresponsible people who are getting foreclosed. Can I get a politician to get my lender to chop 20 grand or so off of my mortgage? Shouldn’t I be rewarded for being responsible?

• 40% loan to value