Posts tagged "foreclosure"

Mortgage Wars: How You Can Fight Fraud and Reverse Foreclosure

Under the action of calm descriptiones product can help save yourhome! Judges across America are dismissingforeclosures because soldmortgages creditors who have no legal capacity to grasp. If you have an adjustable rate mortgage, stand fight against fraud and title guides inorder for the foreclosure action and win. When homeowners victims reeling frompayment shock, have been forced into foreclosure, many refused to leave. They took the courtsan. . . More>>
Mortgage Wars: How You Can Fight Fraud and Reverse Foreclosure

What happens to a second mortgage when a home is purchased at a foreclosure auction?

I will make an offer on a house closing and has a loan of $ 1 280K and a second of $ 70K. The creditor on the first two mortgages is Decision One Mortgage. The lender is Countrywide foreclosure. This means that if I buy this house in foreclosure their money to add a second mortgage or just the first mortgage and back taxes?

Mortgages For Dummies, 3rd Edition

Product DescriptionNeed a mortgage, but are concerned about the market? In Mortgage For Dummies, 3rd Edition, original edition Eric Tyson and Ray Brown provides proven solutions to get a mortgage, if you want to buy your first home, refinance or tap into your principal. You get more out of subprime loans and adjustable-rate mortgages, to find the best lender, avoiding the traps and tax foreclosure, and much, much more! This easy to understand, objectively and without jargon. . . More>>
Mortgages For Dummies, 3rd Edition

Even Obama’s mortgage plan is failing, will he do anything good while in office?

The Obama administration’s flagship effort to help people in danger of losing their homes is falling flat.

More than a third of the 1.24 million borrowers who have enrolled in the $ 75 billion mortgage modification program have dropped out. That exceeds the number of people who have managed to have their loan payments reduced to help them keep their homes.

Last month alone,155,000 borrowers left the program — bringing the total to 436,000 who have dropped out since it began in March 2009.

About 340,000 homeowners have received permanent loan modifications and are making payments on time.

Administration officials say the housing market is significantly better than when President Barack Obama entered office. They say those who were rejected from the program will get help in other ways.

But analysts expect the majority will still wind up in foreclosure and that could slow the broader economic recovery.

http://finance.yahoo.com/news/Borrowers-exit-troubled-Obama-apf-887634101.html?x=0

Mortgage Help, Company is Clueless?

We are three months behind on our mortgage. I called to make a payment the other day and was told, “Congratulations, you are paid in full.” Of course we aren’t, no one and I mean NO ONE at that company can tell me what is going on. According to the website as of 12/31/10 the loan was sold in a foreclosure sale, no one at the company can tell me what that is about either. I talked to one person who said it means it was sold on the courthouse steps….well no because we are still here, and the great thing about this is we haven’t received any notices, late notices, intent to foreclose notices, sheriff visits not even a phone call. Another person told me that it could be we sold the loan to another mortgage company but guess what they don’t know who!

I have called the company numerous times in the last week and they are “researching what is going on with this account” we will call you back in 24 hours. No call, shocking I know.

The thing is no one I talk to there has any idea what happened with the loan although they do say it isn’t in foreclosure or loss mitigation but they don’t know what is going on with it. They can’t see who/when/ or if it was sold. They all act like they are clueless.

I even told one person how amazing it was that other companies were able to keep up with all of your account information and that it was a really cool thing to do.

3 Year Arm is Up, Need Mortgage Refinance with Poor Credit?

Three years ago, my parents got caught up in the sub-prime market and signed 2 mortgages, one with a 3 year arm and is an interest only loan. The 3 year arm is almost up and they were told by countrywide that they will be switched to a variable rate and the monthly payment will rise significantly. They can’t afford this and are contemplating foreclosure. They tried 6 companies and no one will help. Does anyone have any advice on who can refinance a loan with poor credit?
BTW, the house is located in castle rock, colorado and there is no equity in the house or they would have sold it. They refinanced the second loan a while back to borrow money and have used up what small amount of equity there could be since the market has been so bad.

Home Mortgage loan dilemma.?

lets say I’m currently applying for a “no income check” home mortgage in the amount of $ 320,000 for a house worth $ 480,000USD, meaning I’ll have $ 160K down that’s well over 30%. If the house appraised for at least $ 480k, will the lender ever lose money on this mortgage if the house ended up in foreclosure? Also, will the lender ever reject this mortgage loan application if they had nothing to lose but to gain, assuming that the borrower have well over 700 FICO and perfect past payment history? If the house ended up in a foreclosure, wouldn’t the lender will end up making profit anyway given the big chunk of down payment and the value of the home?? SO, is there any reason for them to actually reject the application with this kind of situation?

I need a mortgage lender in Missouri!?

We are looking to buy a home and we have a lender but would like to know about other options without having my credit ran all over the place. We had a bankruptcy discharged in jan/03 and a foreclosure in june/03. Our credit score ranges from 618 to 545-there is a discrepency with this particular credit company and I have papers to prove it. We will be financing around $ 170,000 and my current lender is offering me 7.25 interest rate with closing costs around $ 3500 and no money down with a Fannie Mae loan. Any suggestions or offers?

Considering buying a foreclosure, anyone done this?

We were approved w/a VA Loan of 200,000. I was looking at foreclosures and their are some really nice 4bdrm 2+baths for 140,000-180,000 which I like the mortgage a whole hell of a lot better. I’ve been doing my research and everyone that bought a foreclosure was priced at 17-20,000. They fixed them up and resold them. We want it to be are home. My question is they cant all be crap? Some are only 2years old. We have full intentions on getting a home inspection, and are aware that foreclosures can take forever. Has anybody bought a foreclosure and used it as their primary home? What was your experience like? We are first time homebuyers and Im just looking for more bang for my buck. Plus if i’m locked in for 30years Id much rather pay 800 dollars a month over 1300. Who knows what life will bring us!

SN: We decided to buy when we were declined for a rental house do to our 6in Bearded dragon [a lizard] that never leaves his cage the rent was 1400$ . A similar house our mortgage would be $ 800. We would own it and no one could tell us what pets we can and can not have.

Can owner file forclosure on land contract if all payments were made?

My husband and I have paid all monthly payments to the owner (a large residential and commercial contractor in Michigan) of our new condo (located in Michigan) which we moved into a year and a half ago on a Land Contract. We were planning to purchase the home by October 2009 (which is an agreement written in the Land Contract) but are unable to get a bank loan at this time. All payments have been made on time and in full, but the owner has been calling us asking when we will have the Mortgage ready. We would like to extend the Land Contract, but he may not let us and may foreclose on the property. Is the company legally allowed to foreclose if we have made all due payments and have kept the property in tip top condition? We are very worried about this because a foreclosure would disable us from buying a home in the next couple of years.
Please respond to the best of your ability. We could really use the help.

Thanks,

NBP