Ask Experts Questions for FREE Help !
Ask

Search:

Type: Posts; User: DianeV Sr Loan Officer

Search: Search took 0.01 seconds.

  1. Any number of things could have happened. First...

    Any number of things could have happened. First of all, pre-approval is not necessarily a commitment to lend. If the borrowers could not meet the contingencies of the pre-approval then the loan...
  2. The mortgage is recorded in the local town or...

    The mortgage is recorded in the local town or city offices. It may be the town clerk or registry of deeds. The name of the mortgage company will be listed.
  3. Answers
    2
    Views
    2,868

    Their religion prevents them from getting a loan...

    Their religion prevents them from getting a loan from a bank but not from you? Hmmmm...

    Don't do it. You could still get a loan but you would have to produce a copy of the mortgage with these...
  4. Answers
    12
    Views
    1,388

    6.5% for 30years is 202.24. 250.00 is feasible...

    6.5% for 30years is 202.24. 250.00 is feasible depending on property taxes. Delaware is very low. But it's a moot point. You need to fix your credit. If your fiancÚ has been out of BK for 5...
  5. Let me get straight to the heart of this matter. ...

    Let me get straight to the heart of this matter. Right now your daughter and her boyfriend have enough to handle without the burden of the house. They need to get their income and credit in order...
  6. I really don't know the answer to that question. ...

    I really don't know the answer to that question. Bankruptcy stays on your credit report for 10 years. You may want to call the bank directly and explain your situation. They may be able to...
  7. Answers
    2
    Views
    423

    The mortgage will be recorded in your city or...

    The mortgage will be recorded in your city or town hall. Usually someone there can help you if you give them the address.
    Keep paying the rent. You may want to try to buy from him. Most loans are...
  8. Answers
    5
    Views
    661

    If you are not going to live in the house, DO NOT...

    If you are not going to live in the house, DO NOT finance as an owner occupied... Can you say " Fraud" ? This is an investment rehab property. Most banks do not do rehab loans on an investment...
  9. The only way to remove her from the mortgage is...

    The only way to remove her from the mortgage is to refinance. If you are currently behind on the mortgage you may have a problem doing that even at this stage. As for your other questions, you need...
  10. Answers
    1
    Views
    512

    You have an attorney draw a purchase and sales...

    You have an attorney draw a purchase and sales agreement with terms everyone accepts and signs for and then a closing is held. The buyer brings a certified checkto the closing. The settlement agent...
  11. Answers
    2
    Views
    651

    Would it be possible for them to get a reverse...

    Would it be possible for them to get a reverse mortgage on their primary residence? That is a mortgage that pays them monthly and then is paid off when they die. They should absolutely speak with a...
  12. Yes, you need to do all that. If you don't want...

    Yes, you need to do all that. If you don't want to, try working in a real estate office for a while in an administrative capacity and see if you like it. Perhaps you can sit with an agent at an...
  13. Please explain what you are trying to do. I have...

    Please explain what you are trying to do. I have no idea.
  14. Answers
    2
    Views
    507

    That is a question for a real estate atty. State...

    That is a question for a real estate atty. State laws differ and the lender does not usually allow it.
  15. Answers
    6
    Views
    629

    Ok... Let's all calm down on the ARMs. Like most...

    Ok... Let's all calm down on the ARMs. Like most things, there are good ones and bad ones. Here is how they work. There are as stated above, 1 year arms ( which means that the rate will change...
  16. Answers
    1
    Views
    588

    It depends. If you are the only one on the loan...

    It depends. If you are the only one on the loan and your husband has never been on the deed, he would not be added to the deed unless you wanted him to be. If the two of you were on the previous...
  17. Answers
    3
    Views
    375

    You need to scrutinize your closing documents. ...

    You need to scrutinize your closing documents. Your lender may have put him on the mortgage but not the note. In that case, he acknowledges that the house is collateral for the mortgage but he is...
  18. Answers
    5
    Views
    5,486

    I have yet to see a credit score affected by...

    I have yet to see a credit score affected by employment. If you are moving from one job to another in the same field, for more money you should have no problem. The main thing is to be upfront with...
  19. Answers
    2
    Views
    476

    Most of the rehab loans around are for primary...

    Most of the rehab loans around are for primary residence. That's probably why you were quoted that insane rate. If you have an equtiy line on your present residence you may want to use that for the...
  20. Very glad to hear that things are working out for...

    Very glad to hear that things are working out for you.
  21. Answers
    1
    Views
    501

    Not enough info. What state are you in? How is...

    Not enough info. What state are you in? How is your credit and what is the annual house hold income?
  22. Answers
    2
    Views
    2,189

    Scott is right on! You may be in a loan that is...

    Scott is right on! You may be in a loan that is sponsored by a bond program in CA that gives a low rate to 1st time buyers. The primary stip on those loans is that it has to be owner occupied....
  23. Answers
    3
    Views
    598

    Or the tax collector

    Or the tax collector
  24. Probably not. You seem to owe more than the...

    Probably not. You seem to owe more than the house is worth so you may not be able to get refinanced anyway. If you can, I doubt the rate would be much lower because of the lack of equity in the...
  25. Answers
    5
    Views
    1,646

    Looks like I'll have to keep my Funk and Wagnalls...

    Looks like I'll have to keep my Funk and Wagnalls handy...
  26. Answers
    5
    Views
    1,646

    What the heck is "deletorious"? :)

    What the heck is "deletorious"? :)
  27. Answers
    2
    Views
    574

    The best thing to do in this mortgage climate is...

    The best thing to do in this mortgage climate is to get your credit rating up. If you have collection accounts, make payment arrangements and keep them. Some may settle for less than the full...
  28. Answers
    4
    Views
    852

    You may do well with an FHA mortgage. They allow...

    You may do well with an FHA mortgage. They allow for 3% down payment and are backed by the US govt. You may also be able to combine with the Texas program you are looking into. The state programs...
  29. Answers
    3
    Views
    642

    No one knows what the market will be like 2 years...

    No one knows what the market will be like 2 years from now. I am a firm believer that there really is no "right time" to do anything. It simply depends on your circumstances and what is right for...
  30. Answers
    3
    Views
    507

    Hi Boop: I have read your other postings and ...

    Hi Boop: I have read your other postings and you are all over the place. You have just filed BK. You need to take a break from getting into debt right away. On another post you want to buy a...
  31. Or... a lot a "family member" giving gifts of...

    Or... a lot a "family member" giving gifts of equity...
  32. I'm sorry, I just can't stop. What kind of...

    I'm sorry, I just can't stop. What kind of seller would just give up $400,000 in equity?

    The market is on a downswing, properties are depreciating... and in spite of Good Morning America, facts...
  33. I am not going to argue with you. Let's just...

    I am not going to argue with you. Let's just leave it that I really think there is more to this story...
  34. I am not trying to bash you. However, what you...

    I am not trying to bash you. However, what you are doing is probably for a more sophisticated buyer. But let's face it, how many of your 300 lenders have closed recently? Many of these brokers are...
  35. To Mortgage Consultant: While you may have been...

    To Mortgage Consultant: While you may have been doing this for 3 years, keep in mind that the market for the past five years has been the fluke. This is the real market. I have been doing this...
  36. My point exactly ExCon. Listen up Boop, I have...

    My point exactly ExCon. Listen up Boop, I have been around a long time and there isn't too much I have not seen in this business. You don't need this kind of crappy loan. First of all, if the...
  37. Answers
    2
    Views
    651

    I have never heard of having the balance of funds...

    I have never heard of having the balance of funds within 24 hours. Usually the property is advertised 4 times and the amount of deposit needed at the time is posted in the add. In this case, $10000. ...
  38. Answers
    2
    Views
    611

    Depends on the state estate laws. My general...

    Depends on the state estate laws. My general knowledge is that the estate needs to be probated. The court will appoint an executor of the estate to handle all the final financial concerns of your...
  39. Answers
    5
    Views
    662

    The funky financing market is going down the...

    The funky financing market is going down the drain. Listen to the news. The subprime guys are drying up and it is becoming more difficult to get the "creative" loan. And frankly, you don't want...
  40. Answers
    5
    Views
    662

    Ask about anFHA mortgage first. Need 3% down and...

    Ask about anFHA mortgage first. Need 3% down and seller can pay closing costs. They are not as credit sensitive but will look at your whole picture as well as credit. It MAY be a possibility.
  41. First, I would call the VA and expain your...

    First, I would call the VA and expain your situation. See if you can pay Interest only for a while... I doubt they will do anything, but it doesn't hurt to try.

    Secondly, VA mortgages are...
  42. How old are you? I cannot believe that you would...

    How old are you? I cannot believe that you would want to risk the equity in your parents home to payoff your debt! Unless you have some major disability that prevents you from taking...
  43. Answers
    3
    Views
    517

    You can apply for a mortgage as a refinance. ...

    You can apply for a mortgage as a refinance. However, you will have to qualify for the loan on your own. The 560 score is definitely a problem. You may have to go to a subprime lender. But, that...
  44. My pleasure... good luck to you!

    My pleasure... good luck to you!
  45. Answers
    3
    Views
    615

    There are mortgages put out by FNMA that have a...

    There are mortgages put out by FNMA that have a no down payment required. They are called Flex 100. You can have no money down and the seller can pay 3% of the selling price in closing costs. I...
  46. Answers
    5
    Views
    432

    The person who owns the house has to sign a "Quit...

    The person who owns the house has to sign a "Quit Claim Deed" over to another person. You just can't decide to draw one for yourself and add yourself to a deed. The person would have had to done it...
  47. Answers
    4
    Views
    384

    How is the house isn't VA still in your name if...

    How is the house isn't VA still in your name if you sold it? Or are you just having a management co. handle the rents and pay all the bills?

    Let's cut to the chase and forget the credit score for...
  48. Answers
    7
    Views
    7,885

    They have to take you to court to make you pay. ...

    They have to take you to court to make you pay. The collection account will be on your credit report as will a judgement. If they take you to court you should go and explain your situation to the...
  49. Answers
    10
    Views
    645

    Talk to a real estate atty. There are different...

    Talk to a real estate atty. There are different ways to take title to property to protect one party's creditors from taking a property that belongs to 2 people. It is called "tenants by the...
  50. Answers
    4
    Views
    702

    Let me make sure I understand you. You are the...

    Let me make sure I understand you. You are the owner on a property that currently has no mortgage. Once your ownership is secured, check with an estate atty, you can get a mortgage on the property....
Results 1 to 50 of 76