How does that work? Can you get a mortgage with someone? This would benefit both my mom and my family financially.Can my mom and I get a mortgage together for house with MIL suite?
Yes, we do allot of mortgages like this, if you have a good credit and a good income for last 2 years. Good Luck!Can my mom and I get a mortgage together for house with MIL suite?
Sure you can. As long as one of you or the two of you together have enough income to meet the mortgage.
Wednesday, November 23, 2011
Can anyone refer a reliable person for mortgage loan modification?
Too many sources claiming to know how, but many turn out to be scammers. I need one who is reliable and actually know how to help process loan modification . Scammers, please stay out!Can anyone refer a reliable person for mortgage loan modification?
you can do loan modification yourself.............contact your mortgage lender........he guide you..!
i know one mortgage lender where you can try http://www.iloanshop.com/loan_modificati鈥?/a> here.
Good Luck.......!Can anyone refer a reliable person for mortgage loan modification?
I have been in the stop foreclosure and debt management industries for many years. You do not need to pay someone to do a loan modification, especially now when the lenders are motivated to stop losses from foreclosure. If you have absolutely no idea what you are doing, find a self help program to give you basic guidance. Programs like this are available for under $100. If you get a good stop foreclosure system it will also provide you with assistance in the rare case that you can't do a loan modification.
However, in today's real estate climate, with 9,000 foreclosure filings per day, and everyone from Obama down talking about helping the poor homeowner your chances for success are very good.
The main thing the lender is going to look for is ';Can you make the payments on the new mortgage?'; So, your immediate job is to get your expenses down as much as possible so your income to debt ratio will support the new payment.
If your income to debt ratio needs work see what you can do to lower insurance payments, non essentials like eating out, school lunches, cable TV, negotiate with your credit card companies to settle their debt. If they can't collect from you they will turn it over eventually for literally pennies on the dollar so be nice but hold tough and get your balance/payments reduced.
When you talk to the lender, if you are behind in your payments, be sure that you speak with someone in Loss Mitigation not Collections. Again, if in foreclosure, don't waste a minutes time talking to the lender's foreclosure attorney, deal directly with Loss Mitigation.
A lot of new companies have appeared on the scene charging huge prices for loan modification. Keep your money and put it toward any arrearages or costs that the lender may require you pay to complete the loan modification. You CAN do it!
WAIT !! Why go through a modification company at all - why not just ask your lender for the exact procedures and what they look for. I did loan mods for a bank many years ago and then moved to the mortgage business, which is where most of these mod companies are getting their employees from. They charge big bucks for not much.
If you want good solid advice on going it alone, I will gladly help for a very modest fee for advice - $400. That's what I got paid when doing them for the bank many years ago. There is never any guarantee of success, with anyone, so you would just be paying me for my limited expertise. Doing mods and mortgages for over 15 years
Send to e-mail address at jerry_wimble@yahoo.com.
Do it yourself. TALK to your lender, to many people at your lender.
You don't need some one to do this, and they don't have any more leverage than you do, and many are scammers.
Where are you located? I am also a Realtor.
you can do loan modification yourself.............contact your mortgage lender........he guide you..!
i know one mortgage lender where you can try http://www.iloanshop.com/loan_modificati鈥?/a> here.
Good Luck.......!Can anyone refer a reliable person for mortgage loan modification?
I have been in the stop foreclosure and debt management industries for many years. You do not need to pay someone to do a loan modification, especially now when the lenders are motivated to stop losses from foreclosure. If you have absolutely no idea what you are doing, find a self help program to give you basic guidance. Programs like this are available for under $100. If you get a good stop foreclosure system it will also provide you with assistance in the rare case that you can't do a loan modification.
However, in today's real estate climate, with 9,000 foreclosure filings per day, and everyone from Obama down talking about helping the poor homeowner your chances for success are very good.
The main thing the lender is going to look for is ';Can you make the payments on the new mortgage?'; So, your immediate job is to get your expenses down as much as possible so your income to debt ratio will support the new payment.
If your income to debt ratio needs work see what you can do to lower insurance payments, non essentials like eating out, school lunches, cable TV, negotiate with your credit card companies to settle their debt. If they can't collect from you they will turn it over eventually for literally pennies on the dollar so be nice but hold tough and get your balance/payments reduced.
When you talk to the lender, if you are behind in your payments, be sure that you speak with someone in Loss Mitigation not Collections. Again, if in foreclosure, don't waste a minutes time talking to the lender's foreclosure attorney, deal directly with Loss Mitigation.
A lot of new companies have appeared on the scene charging huge prices for loan modification. Keep your money and put it toward any arrearages or costs that the lender may require you pay to complete the loan modification. You CAN do it!
WAIT !! Why go through a modification company at all - why not just ask your lender for the exact procedures and what they look for. I did loan mods for a bank many years ago and then moved to the mortgage business, which is where most of these mod companies are getting their employees from. They charge big bucks for not much.
If you want good solid advice on going it alone, I will gladly help for a very modest fee for advice - $400. That's what I got paid when doing them for the bank many years ago. There is never any guarantee of success, with anyone, so you would just be paying me for my limited expertise. Doing mods and mortgages for over 15 years
Send to e-mail address at jerry_wimble@yahoo.com.
Do it yourself. TALK to your lender, to many people at your lender.
You don't need some one to do this, and they don't have any more leverage than you do, and many are scammers.
Where are you located? I am also a Realtor.
What is the best way to clean up your credit report. I have a mortgage, my car is almost paid for, ...?
one credit card, a student loan, and a dew minor debts. I am divorced, and my crdit took a major hit. What is the highest score you can receive?What is the best way to clean up your credit report. I have a mortgage, my car is almost paid for, ...?
You have some awful answers here.
Credit scores are based on the following factors only;
1. Payment history 35%
2. Time in bureau 15%
3. Types of credit 10%
4. New credit 10%
5. Debt to credit ratio 30%
Since you have a mortgage a credit card and a car loan now as long as you pay everything on time every month your score should be fine.
FICO scores run from 300 to 850 anything that calculates to below 300 defaults to a 0.
To have the very best score and profile people need 3 credit card accounts (revolving) with balances below 30% of their limits and 2 cars, boats, homes, computers, furniture or personal accounts (installment) all with good long payment history's.What is the best way to clean up your credit report. I have a mortgage, my car is almost paid for, ...?
Do you have one question or many?
Secret to a great credit rating: Borrow only when you MUST and pay it all ON TIME. Don't apply for credit all the time, just use what you have and keep the balances low.
just a divorce by itself shouldn't affect your credit - there must have been other factors
I'm not sure what the highest credit score is, but I saw a tv program on this, and one of the ways to improve your credit score is to have utilities in your name and always try to pay on time.
You have some awful answers here.
Credit scores are based on the following factors only;
1. Payment history 35%
2. Time in bureau 15%
3. Types of credit 10%
4. New credit 10%
5. Debt to credit ratio 30%
Since you have a mortgage a credit card and a car loan now as long as you pay everything on time every month your score should be fine.
FICO scores run from 300 to 850 anything that calculates to below 300 defaults to a 0.
To have the very best score and profile people need 3 credit card accounts (revolving) with balances below 30% of their limits and 2 cars, boats, homes, computers, furniture or personal accounts (installment) all with good long payment history's.What is the best way to clean up your credit report. I have a mortgage, my car is almost paid for, ...?
Do you have one question or many?
Secret to a great credit rating: Borrow only when you MUST and pay it all ON TIME. Don't apply for credit all the time, just use what you have and keep the balances low.
just a divorce by itself shouldn't affect your credit - there must have been other factors
I'm not sure what the highest credit score is, but I saw a tv program on this, and one of the ways to improve your credit score is to have utilities in your name and always try to pay on time.
Who is to blame for the current mortgage crisis in the United States?
Do you blame the banking industry, Alan Greenspan, home buyers, real estate speculators, etc.? I'm very curious what your opinion is. Thank you.Who is to blame for the current mortgage crisis in the United States?
Who do YOU blame for the DotCom Bubble in the stock market? Who do YOU blame for the wild ';Ostrich Market'; a few years ago when they were microchipping eggs for thousands of dollars? Who do YOU blame for the Great Turnip prices thousands of years ago?
Thruout history you can find examples of ';herd mentality' causeing a mania over something and the ONLY thing different is that this time the product was real estate.
Instead of assigning blame; which gets you nothing other then wasted time; how about doing something productive and trying to identify WHY these things happen and how this WILL affect you in the future.
Regardless of WHO you blame for the current market; the cold harrd truth is that EVEN if you KNEW EXACTLY what was going to happen and WHEN it was going to happen, you could NOT prevent people from doing stupid things. If you were President Bush and tried to control the morgage market ; you would have been seen as ';socialist';, ';the rich protecting their turf on not letting the small investor participate in the greatest real estate market we have ever seen';, ';this is a free country so why is Big Brother preventing me from making money in real estate?';.
The realtors were ONLY doing their job of helping people buy what they say they want to buy and getting paid for it. Lenders were ONLY doing their jobs and SELLING a product.
The real blame is the people who gambled on a high risk loan with terms they SAY they didn't understand but the truth is that they KNEW they could not afford the loan but wanted it as an'; investment';.Who is to blame for the current mortgage crisis in the United States?
The blame is to be shared.
The buyers for not reading what they were signing and making sure that they understood what their responsibilities were. Or for failing to hire an attorney to represent them if they didn't understand what they were signing.
The predatory lenders for loaning money to people who clearly could not afford what they were buying. And for using contracts there were so incomprehensible that many attorneys can't figure out what the actual terms are.
The attorneys who wrote those contracts.
The Realtors who pushed unsuitable properties on unqualified buyers and pushed them to predatory lenders and brokers in exchange for kickbacks or other consideration.
The mortgage banking industry for failing to regulate their own.
Congress for failing to pass laws to protect borrowers from the worst abuses.
The right wing mindset that it's ';Every man for himself, we don't need no government intervention.';
The banking industry.
Since the Fed kept the rate so low for so long, home sales were beginning to slow. The banks began offering mortgages to people who would not normally qualify with their credit rating. To protect themselves, banks sold variable rate mortgages to those who maybe didn't understand how the whole thing worked. Sure, there's the ';buyer beware'; thing, but by and large, his was a way for banks to get more money.
It is easy to attach blame. All participants are to blame to some extent. some lenders went overboard in extending credit to sub prime clients. but other lenders were more prudent. Some home buyers went overboard in financing homes that they could not afford, simply because they thought they could sell the house for more when that ARM interest increased. But not all home buyers bought unaffordable homes. Many are still paying the mortgages that are within their ability to pay. Some speculators went overboard in buying up homes to flip, then suddenly found that prices sagged. The least to blame is the FED or the government, in my opinion.
Banking Industry
The MortageLenders
Govt.
since they can hide data %26amp; free loans to customers who cant pay loans back.
%26amp; those Home Buyers who LIE to get loans if any.
Who do YOU blame for the DotCom Bubble in the stock market? Who do YOU blame for the wild ';Ostrich Market'; a few years ago when they were microchipping eggs for thousands of dollars? Who do YOU blame for the Great Turnip prices thousands of years ago?
Thruout history you can find examples of ';herd mentality' causeing a mania over something and the ONLY thing different is that this time the product was real estate.
Instead of assigning blame; which gets you nothing other then wasted time; how about doing something productive and trying to identify WHY these things happen and how this WILL affect you in the future.
Regardless of WHO you blame for the current market; the cold harrd truth is that EVEN if you KNEW EXACTLY what was going to happen and WHEN it was going to happen, you could NOT prevent people from doing stupid things. If you were President Bush and tried to control the morgage market ; you would have been seen as ';socialist';, ';the rich protecting their turf on not letting the small investor participate in the greatest real estate market we have ever seen';, ';this is a free country so why is Big Brother preventing me from making money in real estate?';.
The realtors were ONLY doing their job of helping people buy what they say they want to buy and getting paid for it. Lenders were ONLY doing their jobs and SELLING a product.
The real blame is the people who gambled on a high risk loan with terms they SAY they didn't understand but the truth is that they KNEW they could not afford the loan but wanted it as an'; investment';.Who is to blame for the current mortgage crisis in the United States?
The blame is to be shared.
The buyers for not reading what they were signing and making sure that they understood what their responsibilities were. Or for failing to hire an attorney to represent them if they didn't understand what they were signing.
The predatory lenders for loaning money to people who clearly could not afford what they were buying. And for using contracts there were so incomprehensible that many attorneys can't figure out what the actual terms are.
The attorneys who wrote those contracts.
The Realtors who pushed unsuitable properties on unqualified buyers and pushed them to predatory lenders and brokers in exchange for kickbacks or other consideration.
The mortgage banking industry for failing to regulate their own.
Congress for failing to pass laws to protect borrowers from the worst abuses.
The right wing mindset that it's ';Every man for himself, we don't need no government intervention.';
The banking industry.
Since the Fed kept the rate so low for so long, home sales were beginning to slow. The banks began offering mortgages to people who would not normally qualify with their credit rating. To protect themselves, banks sold variable rate mortgages to those who maybe didn't understand how the whole thing worked. Sure, there's the ';buyer beware'; thing, but by and large, his was a way for banks to get more money.
It is easy to attach blame. All participants are to blame to some extent. some lenders went overboard in extending credit to sub prime clients. but other lenders were more prudent. Some home buyers went overboard in financing homes that they could not afford, simply because they thought they could sell the house for more when that ARM interest increased. But not all home buyers bought unaffordable homes. Many are still paying the mortgages that are within their ability to pay. Some speculators went overboard in buying up homes to flip, then suddenly found that prices sagged. The least to blame is the FED or the government, in my opinion.
Banking Industry
The MortageLenders
Govt.
since they can hide data %26amp; free loans to customers who cant pay loans back.
%26amp; those Home Buyers who LIE to get loans if any.
Am I supposed to sort out the mortgage first then start looking for the property or the other way around?
I'm looking for a mortgage (UK). I don't know if I should first sort out the mortgage or should I firstly find the property?Am I supposed to sort out the mortgage first then start looking for the property or the other way around?
Not sure about it in the UK but I got preapproved 1st and worked some numbers to know what I would be comfortable paying for a house in the US inclusive of taxes and insurance. What you can get approved for is often MORE than you want/need to spend to be comfortable (in Texas anyway) After that I began to look in thta price range. In my opinion, it saved me alot of time looking at things that would not fit my budget.Am I supposed to sort out the mortgage first then start looking for the property or the other way around?
Go to a lender to see what you are qualified for, then look for a property.
First you get preapproved which is fast and easy then search for housescosmetics wrinkles
Not sure about it in the UK but I got preapproved 1st and worked some numbers to know what I would be comfortable paying for a house in the US inclusive of taxes and insurance. What you can get approved for is often MORE than you want/need to spend to be comfortable (in Texas anyway) After that I began to look in thta price range. In my opinion, it saved me alot of time looking at things that would not fit my budget.Am I supposed to sort out the mortgage first then start looking for the property or the other way around?
Go to a lender to see what you are qualified for, then look for a property.
First you get preapproved which is fast and easy then search for houses
What annual income should I put in mortgage application if mine varies?
Im an electrical union worker. Im working full time with my company for 7 years however just last year was very slow so I was included in employee cut back but hired me back after 3 months when projects were back again.
after several months, I wanted to apply for mortgage, what do I write in my annual income since last year was different because I was laid off for 3 months?What annual income should I put in mortgage application if mine varies?
Take a 3 year average of what you put down on your taxes, that is how the bank will verify it anyway!What annual income should I put in mortgage application if mine varies?
Take the average for past 2 years.
I would put down the average you made during the last couple of years.
use a 5 year average
Best Anwser- Chosen by Voters
You need to call Frank IMMEDIATELY at 661-635-4900 or 919-802-3119 or 866-728-8587. He can get you financed with his network of over 400 lenders (up to 100%) even with bad credit. He has helped me with 4 properties and it has saved me thousands per month. He also helped me with foreclosures and made me a ton of money. He is an expert in this area.
http://www.realestatefundingnetwork.com
I read the other answers.
Has no one ever seen an Electrical Union Worker before? The multiple W2's? The gaps?
You have an hourly wage protected by the Union for you. Take your hourly wage, multiply it by 40 hours, then multiply that by 52 weeks, then divide that number by 12. You need a Letter of Explanation for the gap of no work (signed by you). You may need a Verification of Employment from the Union and/or your current employer.
About overtime...
Just email me!
take the seven years and average out the yearly income minus 20% overall that would be close to the number you need for your own good
after several months, I wanted to apply for mortgage, what do I write in my annual income since last year was different because I was laid off for 3 months?What annual income should I put in mortgage application if mine varies?
Take a 3 year average of what you put down on your taxes, that is how the bank will verify it anyway!What annual income should I put in mortgage application if mine varies?
Take the average for past 2 years.
I would put down the average you made during the last couple of years.
use a 5 year average
Best Anwser- Chosen by Voters
You need to call Frank IMMEDIATELY at 661-635-4900 or 919-802-3119 or 866-728-8587. He can get you financed with his network of over 400 lenders (up to 100%) even with bad credit. He has helped me with 4 properties and it has saved me thousands per month. He also helped me with foreclosures and made me a ton of money. He is an expert in this area.
http://www.realestatefundingnetwork.com
I read the other answers.
Has no one ever seen an Electrical Union Worker before? The multiple W2's? The gaps?
You have an hourly wage protected by the Union for you. Take your hourly wage, multiply it by 40 hours, then multiply that by 52 weeks, then divide that number by 12. You need a Letter of Explanation for the gap of no work (signed by you). You may need a Verification of Employment from the Union and/or your current employer.
About overtime...
Just email me!
take the seven years and average out the yearly income minus 20% overall that would be close to the number you need for your own good
Do mortgage companies ever write loans for more than the appraisal?
If so, what are the circumstances that this occurs in? If not, what is the usual reasoning?
Thanks!Do mortgage companies ever write loans for more than the appraisal?
No. There was a time where this could happen, but no more.Do mortgage companies ever write loans for more than the appraisal?
Possible but very very unusual. You have a better chance of getting an invitation to the Pope's wedding.
Well I am sure it happens but 999 times out of 1,000 it will not. If you are friends with bank president it could happen.
Thanks!Do mortgage companies ever write loans for more than the appraisal?
No. There was a time where this could happen, but no more.Do mortgage companies ever write loans for more than the appraisal?
Possible but very very unusual. You have a better chance of getting an invitation to the Pope's wedding.
Well I am sure it happens but 999 times out of 1,000 it will not. If you are friends with bank president it could happen.
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