I have sold my house can i become homeless?

Can i join my local council as i have sold my house?
I have sold it for cheap because i cant afford the mortgage?

Read more: I have sold my house can i become homeless?

Refinancing…to do it or not?

I am in the process of refinancing on a home loan which will lower my monthly payments by about $300.00/month. This is a 5 yr ARM, 2.5 interest rate and I plan on selling home in the next 4-5yrs. During the process I found out I have a second lien which has to be paid in the amount of 7k before financing. I also have closing cost of $4500.00 that will be added on to the loan and paid off. At this point, is it worth it to refinance if I have to pay 7k prior to closing? Also, if I don't pay it now, I will eventually have to pay it whenever I decide to sell the house. I hope this is clear. Thanks!
Added (1). My current interest rate is 4.5. Its a 30yr FHA and I am 5 yrs into it. New loan term would be 30 yr as well.

Read more: Refinancing…to do it or not?

Understanding a mortgage…Help?

Im having difficulty deciphering the internet on its views of mortgages so i just thought i would ask people who have them and henceforth probably know a few of the answers to my questions. It always seems silly that they don't teach this kind of thing in schools, in my opinion they are important life lessons that everyone eventually need to know. So here are my questions:

1) Can you pay lump sums of your mortgage off? (if so what is the difference in this on an interest only mortgage and a repayment mortgage)
2) Is there a fine or extra fee for doing this?
3) If i use a help to buy scheme or other government schemes can i pay these off before the sale of my house, or do you HAVE to wait until you move?

I feel like im going round in circles i know the basic basic things but nothing so technical… And one last question has anybody had much success on a 5% deposit and what is the range of house prices available with that?

Thank you if you can help will appreciate any answers/ advice!

Read more: Understanding a mortgage…Help?

Can I sell my timeshare for a dollar when I still have a mortgage on it?

We bought a timeshare almost a year ago and still owe money on it. Is it possible to sell it for a dollar and it not be our problem anymore?

Read more: Can I sell my timeshare for a dollar when I still have a mortgage on it?

Can you get a mortgage on a apprenticeship?

Im 20 im on a second year apprenticeship at a secure company by the end of the year i will be on £18,000 a year and the company is know around the local area because it is the main place to work here im dont really know alot about mortgages but i know the house i want to buy is estimated around £90,000 and i havent enquired about a mortgage because im not really sure how it all works so i just want to know if anyone could give me a little insight on how i could get this. Thanks.

Read more: Can you get a mortgage on a apprenticeship?

Is a title insurance policy still good when you refinance a mortgage?

Details:

I bought a property with an individual in 2010. At the time of purchase, we bought a title insurance policy.

In 2012, I refinanced the property at a lower interest rate. I have the mortgage in my name only. Both of our names are still on the deed.

In 2012, I signed the waiver at the closing indicating that I did not want to purchase title insurance (the agent indicated that it was not necessary since we previously purchased title insurance). We used the same title company.

Is this correct? Is the title insurance purchased in 2010 still valid?

Read more: Is a title insurance policy still good when you refinance a mortgage?

What is the amount of property tax and intrest on my mortgage is used to file a long form?

What is the amount of property tax and intrest on my mortgage is used to file a long form?

Read more: What is the amount of property tax and intrest on my mortgage is used to file a long form?

Have you ever switched from am FHA to a conventional loan?

I currently have an FHA loan. My home is for sale. I found another home I like but cannot purchase it until my home sells. You cannot have 2 FHA loans at the same time. However, I was told I could potentially switch my FHA to a conventional loan. My closing costs would be less than $4K which is doable. Do you have experience in something like this? I am also thinking instead of selling my home I could then rent it out and bring in a steady monthly income.

Read more: Have you ever switched from am FHA to a conventional loan?

Can my son claim my mortgage interest deduction if I don/t claim it in my tax form?

Can my son claim my mortgage interest deduction if I don/t claim it in my tax form?

Read more: Can my son claim my mortgage interest deduction if I don/t claim it in my tax form?

What can I do with this frustrating situation?

Parents own a house worth $650,000 in Southern California but will not sell and divide it… The house is old and built in the sixties. It will be paid off in a year. I know they "earned" it but I don't think that is fair… When I say earned I mean lucky enough to buy it at less than a quarter of the equity/profit/value of what it's worth now during the early 90s. When I say earned, I mean earn in a way that they were lucky enough to land good jobs because they had a bachelors degree (which I am on the way to getting but everyone knows that college is expensive and through the roof depending on what degree you are getting). And I know that they got that degree at a less then quarter of the price to get a degree here in the States. They got their degree in the 70s in the Philippines. I am 30, and wanting to start a family and I know that money would help me and my future husband if I ever get married or at least help me in my future. I know this house has a lot of sentimental value and us kids (their kids) grew up here but still… We are all grown up now and we all need to have our own lives…
Added (1). Wow you people are something else (mean and immature is one of them). I'm guessing you don't like Paris and Nikki Hilton very much then lol! They leech of the family wealth like there's no tomorrrow!

Read more: What can I do with this frustrating situation?

How much will my divorce cost?

My wife and I are realizing now that a divorce is in our future. We got married in Colorado and are now living in Wyoming. We are on very good terms but realize this marriage was a mistake for both of us. We've discussed it and don't plan on drawing it out, fighting, or even hiring lawyers because we are extremely civil towards each other. We don't have children, just a shared mortgage and a shared auto loan on a pickup truck.

How much can we expect this divorce to run us?

Read more: How much will my divorce cost?

How do people afford $1 million+ homes?

I can't wrap my head around putting fourth $26,000 per month for a $5,000,000 home! How can anyone afford that? Other than famous people. I'm from Missouri and I found a house that literally cost that much. What kind of job would you have to have to make enough to afford that? How do people do it?

Read more: How do people afford $1 million+ homes?

Whats a fair amout of rent for an adult child to pay?

Mortgage is $750, utilities are about $300. Right now mom pays everything. But now son has graduated high school and decided not to go to college so he has to start paying rent. Whats a fair amount?
Added (1). Mom and son are very close. NO issues and never has been. She just wants him to learn SOME repsonsitilbity and not be one of the guys who lives with mom at age 30. Thanks!

Read more: Whats a fair amout of rent for an adult child to pay?

How to solve this annuity problem?

A $100,000 mortgage carries a 9% annual interest rate compounded monthly for a maximum of 30 years. How many monthly payments of $1,000 will it take to pay off the loan in full?

Read more: How to solve this annuity problem?

In doing a novation does this remove a name from title and mortgage?

In doing a novation does this remove a name from title and mortgage?

Read more: In doing a novation does this remove a name from title and mortgage?

What are the conditions for selling a home under a mortgage?

Say that the house is built in 1950, has a lot of the original plumbing, needs some repairs that basically weren't kept up/upgraded with codes over the years due to a variety of reasons. Can it be sold as-is without having to change anything to conform with codes? Is it possible to get the mortgage company to take less? It is my understanding that you can't do a short sale on a property that basically isn't behind on the mortgage. Is it better to willingly let it get behind on the mortgage and save money until they agree to a short sale or?

Read more: What are the conditions for selling a home under a mortgage?

Is there a way you can assign a life insurance policy while living to pay off your mortgage after you die?

Is there a way you can assign a life insurance policy while living to pay off your mortgage after you die?
Added (1). I currently have life insurance through my employer. If something were to happen to me, I would like the burial costs and remaining mortgage to be deducted from the policy amount so my family won't have to pay anything. The remaining would go to my children. How would I set something like this up? I am in the state of Wisconsin.

Read more: Is there a way you can assign a life insurance policy while living to pay off your mortgage after you die?

What are the pros and cons of renting a house?

We live in a house now and plan to try to sell it. Doubtful that a second mortgage will be possible for a long while. Renting a house seems to be the only option because we don't want an apartment with neighbors that close. Of course, in the future we could try to get a house through another mortgage.

Obviously, there is usually a one-year lease for renting a house. If you hated the neighbors due to noise or them acting strange or whatever and it was causing problems, you could leave without having to worry about selling a house. But at the same time, you don't own anything and are helping the owner pay off their housing. Plus, they can apparently up and decide that you need to move because they don't want to rent anymore or they want to sell the house.

What else?
Added (1). Note that we're basically living 10-15 minutes from Atlanta, Georgia and we're planning to move further out into a rural area to find a house to rent. Am I correct in thinking that the rent may be a little lower in rural areas?

Read more: What are the pros and cons of renting a house?

Please explain interest rates for me?

Let's say I have a loan for 320K, 7% fixed mortgage @ 30 years.

After 30 years, how much am I actually paying in interest? I was trying to do the math and came up with 446K. Is this correct? Would I really pay more in interest than the principle itself? This can't be…

Read more: Please explain interest rates for me?

Is it worth owning a house in new jersey?

Sometimes your better off renting

New Jersey has one of the highest rates of foreclosures in the US

Property taxes average around 8 to 9000 per year. Insurance is high as well. The average mid size home in a descent area will cost you around 400k. Many retirees take there pension and leave the state and go to other states where the taxes are alot lower and cost of living in lower. Plus you got your mortgage-> you really have 2 payments: the mortgage and taxes.

I think with all these expenses, its really bad for the economy

your thoughts

Read more: Is it worth owning a house in new jersey?

What is an FHA home loan in Fort Lauderdale, FL?

What is an FHA home loan in Fort Lauderdale, FL?

Read more: What is an FHA home loan in Fort Lauderdale, FL?

What advice would you give for this situation?

My mother is a widow and is currently paying on a mortgage on the house in her name. We want to move to a better area in the city, as the neighborhood has gone downhill and the whole area and city as a whole is horrible.

She currently has a refinanced Chase mortgage from like 2002 or so. About $48K left on the mortgage. It is possible that we may be able to sell the house for what is left on it. It is my understanding that if she does a short sale, it hurts her credit and she may not be able to get another mortgage. Granted, she had a bankruptcy in mid-2014 (unrelated to the house), but her credit is still pretty good since she kept the house and has not missed any payments or been behind on it.

As one of her kids, I try to help her out. I'm not married currently, but someday I want to get my own house and be married within the next 4-5 years at most. I do live with her currently so that I can try to make things easier for her. We were pondering doing a short sale and renting a house, but I think that is pointless when she could be paying less for a mortgage and actually buying the house to own. She's in her mid-50's now, so I want her to actually have a house to retire in.

Is there a way for me to help her get the house with financial backing without getting it in my name? She wouldn't miss a payment at all, so I'm not worried about anybody coming to get me. I'm just worried about my future, too.
Added (1). If I cosigned with her on the mortgage, for instance… I don't see how I'd be able to get my own house someday. I could get a house in my name and let her live with me for the time being, but I'm not sure that I want to buy a house yet. I want to save up a big downpayment before I buy my own house someday. I pay bills, so I'm not mooching off from her or anything. With our combined incomes, we could qualify for a house with no problem… I just don't want to mess up my future ability.
Added (2). … And pardon that typo. We live IN the city now, but basically want to move AWAY from the city and live in a more rural area further out.

Read more: What advice would you give for this situation?

My husband is in the army,173rd in italy?

my husband put in a request for BAH befoe he went to slovania. He is in the army and i am living in the states near ft bragg army base. He is stationed in italy right now. I really need to obtain proof of his request for BAH, but I dont know who to contact for that. What do I do?

Read more: My husband is in the army,173rd in italy?

Is this a case of mortgage fraud?

I'm going to try to explain this as best I can as it's quite complicated. Long story short my mom purchased a home about 10 years ago and was approved by the bank to buy the home minus 10,000 that she didn't qualify for. The seller offered to "loan" her the 10,000 so she could be approved. And it was to be paid back in a 5 year term (kind of like a private second mortgage) she agreed. They were pretty persistent that they use their lawyer to finalize it (which the lawyer was a member of the family) my dad agreed. Unfortunately. After months of mailing them the cheques they all got returned. Turns out the law firm moved. They found the new address and went to the door to give them in hand the cheques, we'll the lawyer wouldn't accept it unless they were mailed. So they mailed them. A year later a years worth of payments have not been withdrawn from their bank. Now the seller 10 years later calls and says if she doesn't have the 10,000 by Thursday the house will be foreclosed. Problem is they don't even have half of that. She can't sleep and is crazy worried. Something doesn't seem right. Any advice or opinions are welcomed. Thanks everyone!

Read more: Is this a case of mortgage fraud?

Why are fewer white people having kids?

Minority children now make up the majority, and most births last year were mostly minorities. Why is it that white people tend to have the least amount of kids, on average? Could that explain why minorities, except Asians, have the highest poverty rates?

Read more: Why are fewer white people having kids?

Failed Bank/FDIC sells mortgage?

My bank recently failed and FDIC sold my mortgages to another bank recently, but I was already barely making payments and paying interest only before that, now the new bank wants to pay up some back money owed and what to negotiate my contract and I stop making payments. If i don't agree to bank new terms then they will foreclose, but I know I have to file chapter 11. My questions are, if the FDIC sold my mortgage, which i am assuming for a discounted price then why should I pay for original amount loan principal and interest, shouldn't I get a break at the price they bought it for. And is chapter 11 the best way to go. Please advise me. Thank You.

Read more: Failed Bank/FDIC sells mortgage?

How, if possible,can I get a car loan with a 535 credit score. I have recent mortgage lates?

How, if possible, can I get a car loan with a 535 credit score. I have recent mortgage lates?

Read more: How, if possible,can I get a car loan with a 535 credit score. I have recent mortgage lates?

Do I have to wait for 1099-Misc to File Taxes If I Claim The Income on Schedule C?

I am self employed and would like to file my taxes early to get approved for a mortgage. I would not like to wait until Feb to receive all my 1099's from various people I have worked for. I do all my accounting in Quickbooks and Import it into turbo tax so all the income I made is already on the schedule C.

Thanks!

Read more: Do I have to wait for 1099-Misc to File Taxes If I Claim The Income on Schedule C?

Should I pay cash for a house?

I am close to closing on a house and have the cash to buy it outright. We are in the process of P&S and I was wondering if I should pay cash? I can pull a 30 year mortgage at 4.75% . What cost advantages do I get if I pay cash? Is there less closing fees? If so how much? I was thinking about financing it with a 30 year mortgage and paying it all off within a year just to be safe since the bank will thoroughly do title checks etc. But My friend told me I can hire an attorney to do the same and pay cash. Is it smarter to get a mortage then pay it off within a year?

Read more: Should I pay cash for a house?

Conventional Mortgage requirements for flooring?

I found a house at $140k in good shape except it needs flooring to be installed on 80% of it. This would cover about 1800 sq ft.
The sub flooring plywood is in place, so I'd like to put down tongue and groove wood flooring, and some rooms with ceramic tile.
On a conventional loan will they allow me to close on the loan with at least 5% down, and then buy the materials and do the work myself, or hire a contractor (after closing)?

Read more: Conventional Mortgage requirements for flooring?

Would you get mad if your neighbor always asked to use your lawn mower?

Would you get mad if your neighbor always asked to use your lawn mower?

Read more: Would you get mad if your neighbor always asked to use your lawn mower?

HOW MUCH you pay a month for rent or mortgage payments?

HOW MUCH you pay a month for rent or mortgage payments?
Added (1). a beautiful home and style is part of beauty package too. Good mates wont stay if not stylish

Read more: HOW MUCH you pay a month for rent or mortgage payments?

2 very very different mortgage appraisals?

we put an offer on a fannie mae house that was put up at 74k, we offered 80k figured we might have to eat the 6k we added. They accepted.
the house needed work of course but not a lot.
the 1st mortgage appraiser came back at 55k saying the house was a c4 and needed a roof for SURE. He said it was a 1411sqft with 5rooms, (I counted 6, i have no idea on the sqft). He used comparables from c3 and c4 cash sales, fha, va. The mortgage company says this guy was very very good and has done work for them for 20 years, and stand by him. (I had 2 hire inspectors, a friend who is a roofer and a retired roofer with 50+ years look at the roof and all said the roof has at least 7+ years left in it. All it had was moss on it.) he also put in his report that it did not have a fireplace microwave disposal, shed. It had all of them. He said it had only one deck. The house had 3 decks. I disputed this but again they refused to budge. So we went to another mortgage company and this appraiser said 91k! In his report the only things he missed was the 2 windows a/c units it has. And said the house was 1501 sqft and 6 rooms… Nothing about the roof. He also classed it a c3, using comparables in that class only.
how can there be a 36k swing between 2 appraisers, that's insane?!

Read more: 2 very very different mortgage appraisals?

How much does a boiler cost? Help?!

My friend has been living without hot water for years since her boiler broke. She had electric heating and massive old boiler that takes up most of the bathroom as her flst is tiny. She bought the property years ago and is still paying the mortgage. She is a student too.

Does anyone know how much it would be to get this boiler replaced or get it removed and a more up to date boiler put in?
Are there any schemes for this type of thing? We live in the UK(Scotland)

She is stubborn and proud but her boyfriend and I really want to help her.
Added (1). Also she is in an electricity powered house only so I dont think a combi boiler would work as its powered by gas is that right?

Read more: How much does a boiler cost? Help?!

My mortgage bank doesn't seem able to apply my payments properly. How do I resolve this?

Each month I promptly send in my mortgage payment via electronic transfers. The bank making the payments has verified with, Chase, the mortgage company that the funds are being received on time. So we know they are not late. Chase acknowledges this. In each of my payments I include additional funds designated for principle reduction and I have been paying this way for 4 years. Chase has always applied the payments correctly, at least up until recently. Now all my payments are posted into a 'suspense' fund and not applied to my monthly mortgage payment. After three months of not posting my payments to the mortgage, they began sending collection letters in January. On January 2 I received a call asking where my payments are. I told them they have them and I can prove it. I speak to representatives on an almost daily basis and am getting no where. And, I noted that even in November when I sent in the exact payment, it was still placed in 'suspense account'. Has anyone had this problem and how can it be resolved. Snail mail takes too long and I hate the idea of going back to old ways just because of computers and non-humans running a bank.

Read more: My mortgage bank doesn't seem able to apply my payments properly. How do I resolve this?

Either mortgage, car payment,or credit card, for credit rating purposes, you should pay?

If an individual can afford to make only one payment

Read more: Either mortgage, car payment,or credit card, for credit rating purposes, you should pay?

How healthy is 15% of your income for mortgage?

How healthy is 15% of your income for mortgage?

Read more: How healthy is 15% of your income for mortgage?

Will an associate's degree in programming be enough to get a job in web design or video game development?

Will an associate's degree in programming be enough to get a job in web design or video game development?
Added (1). I have been teaching technology to middle and high school students for four years now. I have a ton of student loan debt so going back to school for another bachelor's isn't really an option (I have a mortgage too). So I was wondering if an associate's degree will be enough to break into that field. I have a beginner's knowledge of some different coding languages.

Thanks for your time.

Read more: Will an associate's degree in programming be enough to get a job in web design or video game development?

If one landlord gives me notice, can I sign a new lease with the other landlord to prevent this?

Landlord 1 (the husband) has harassed us the entire time we have been here. He continuously disrupts our peace by not asking but telling us when he will be coming over. Usually with less than 24 hour notice. And usually on the weekends, sometimes for a full 9-5pm day! He also has refused to vacate the garage, and uses it as his personal storage unit. He hasn't paid the gardener so we haven't had landscaping since last Sept. (it's his obligation in the lease). The husband miss-appropriated funds, and was not paying mortgage on house. We've known we could sue him, but he is a hothead and we love the house in every other way:-( and know he would have simply given us notice. Now he and his wife are divorcing. This was her family home. She has health issues, and this is her only source of income. She wants us to stay and needs money. He was trying to get us to pay him directly (with a 3 day notice no less) and when we said it need to be an amendment to the lease he claims to be evicting us (or giving us notice, not sure yet)

Read more: If one landlord gives me notice, can I sign a new lease with the other landlord to prevent this?

Is it worth buying a foreclosure home for $15k-30k?

I have found foreclosure homes for 15k-30k. Is that a good price? Do I get full ownership of the home or will I have to pay off all the mortgage that the previous owner failed to pay?

Read more: Is it worth buying a foreclosure home for $15k-30k?

I hate weddings, everything about it?!

In this day in age where its hard to own a home and get on the property ladder, I personally would prefer a mortgage than a wedding. And the cost of a wedding usually matches and surpasses that of a required deposit.

What is a wedding? A sign of your love and affection for each other? NO! It is not, its of material possession, being a spoilt brat, showing off, bragging. More often than not, the bride to be turns into a controlling crazy psycho in the run upto the wedding, leaving you wondering why your even getting married. "My wedding dress was better than yours" "my wedding reception was better than yours" likely sound bites from the ceremony.

And then there are the gifts or even destination weddings/stag/hen do's. I consider this cheeky and very rude to ask your guests to folk out huge sums of money and take time off work to attend your wedding.

And then there is the aftermath, you can't chose everyone to be chief bridesmaid/bridesmaid/bestman/groomsmen and those you leave of the list, expect your relationship with those people to fall apart and full of grievance. Also, if I'm expeted to go half way around the world for your wedding, I expect a return at my wedding and if there isn't, angry and grievences will follow.

Overall, I hate weddings, there is more negatives than positives.

Your thoughts and views?

Read more: I hate weddings, everything about it?!

Should I Rent a house Or Wait and get approved to rent to own a home?

Me and my girlfriend been together for 3.5years now I got with her my 10th grade year, we still live both our parents she 18 I'm 19, She got two fast food jobs and I work for the city we both making money but we was wondering should we start with renting a house or should we just wait on it and try and get a rent to own house and by the way I have a 600 -620 credit score

Read more: Should I Rent a house Or Wait and get approved to rent to own a home?

My mortgage bank can't apply my payment properly. How do I resolve this?

Each month I promptly send in my mortgage payment. I send the full amount, as billed, that covers principle, interest and escrow for taxes. I round it up, so they are actually receiving $.33 more than billed each month. For the past four years Chase has been able to post that extra $.33 to the principle. All of a sudden they can't accept payments written this way and they put the entire payment into what they call a 'suspense' fund. And then after not posting the payment to the account they consider it late and start with the collection calls. And to make it worse, they keep telling me I am not sending ENOUGH money to cover the payment. I am beginning to think computers are running Chase and no humans are there at all. Anyone else have this issue? I even tried sending the exact dollar amount and they still put the payment in 'unassigned'.

Read more: My mortgage bank can't apply my payment properly. How do I resolve this?

Is mortgage insurance required in iowa?

Is mortgage insurance required in iowa?

Read more: Is mortgage insurance required in iowa?

Can a get agent convince seller to accept an FHA loan offer?

I don't know how set in stone this sort of thing is. Maybe if we payed asking price they would be willing to work with us.

Read more: Can a get agent convince seller to accept an FHA loan offer?

I have a small mortgage on home but want to do a for sale by owner and carry buyers note. How is this done?

I have a small mortgage on home but want to do a for sale by owner and carry buyers note. How is this done?

Read more: I have a small mortgage on home but want to do a for sale by owner and carry buyers note. How is this done?

Possibly moving to Denver area?

So there's potential for a job opportunity for me in the Denver area. The business itself is located in Englewood. I'm wondering where good places to live around there are. We will be coming from suburbs in Buffalo NY. We are by no means city people! We wouldn't be moving until next year. I know some people from the business in Highlands Ranch, which is an area i LOVE, however its crazy expensive. Do mortgages around $600-$700 even exist in CO? I know it's expensive but geeze!

Read more: Possibly moving to Denver area?

I am asking if turbotax J Nicole Tax Service(local) or H&R block is better for my particular situation?

I am currently unemployed and am attending school for my associates(not that that matters but yeah). Like i said i have no complicated things like kids houses mortgage or anything so i doubt i have "lost money" out there… Turbotax right? Also do save receipts matter at all?

Read more: I am asking if turbotax J Nicole Tax Service(local) or H&R block is better for my particular situation?

How much is my budget for a house if I make $100,000 a year?

Don't include interest. 30 year mortgage.

Read more: How much is my budget for a house if I make $100,000 a year?

Would you still help your children as adults?

My son is 29 years old. He & his wife both have good jobs, they are renting a home.

Well, the homeowner never paid his mortgage and from what I understand, the house is on foreclosure? I'm not entirely sure of the situation but, they have to be out by early Feb.

His wife is 3 months pregnant & they are going to purchase a home. He asked my husband to lend him $10,000 to help with the down payment.

I know they will pay it back however, at 29 I don't think we should be "supporting" him or "helping him" at all.

Thoughts?
Would you still lend your kids the money?

Read more: Would you still help your children as adults?

Conventional loan vs fha loan?

Is it less common for the seller or buyer to pay the closing costs on a conventional loan? I'm a soon to be first time home buyer and want to get a conventional loan since I have a 20% down payment and some money left over for expenses but most likely not enough for closing costs. My question is is it less common for the seller to agree to pay for closing costs on a conventional loan than a fha loan?

Read more: Conventional loan vs fha loan?

Use savings to pay off mortgage or invest it?

I will be getting a lump sum from the sale of my mums house.

Is it better to pay off the mortgage with this money or put it into a savings account for the future?

Lets say I'm getting around $75,000, I am buying a house this year for $525,000, the mortgage is $498,000.

Read more: Use savings to pay off mortgage or invest it?

How to qualify for a higher mortgage?

How do you qualify for a higher mortgage?

Read more: How to qualify for a higher mortgage?

What date/amount should rental property depreciate from?

What date/amount should rental property depreciate from?
Took on Land Contract for 100k and recorded as co-owner in 2001. Got a mortgage on it 2011 for 200k to payoff co-owner and became sole owner

Read more: What date/amount should rental property depreciate from?

Is 4.8% a good mortgage loan rate in California?

I went to a company I was recommended to for my prequalification for a home loan and what they gave my husband and I is for a $176,000 conventional loan where we would be putting 20% down so we could purchase a home around 220,000 at 4.8%. We would be getting about $3,000 in credit (about 3 points). Our credit scores are about 737. Ive been looking at "todays rates" on different mortgage sites and they all say about 4.3-4.5%, so I feel the rate we were given is a bit high… I think i can lower the interest rate by not getting any points or whatever but does anyone know how much that would affect the rate? Are we being screwed? I really like the lady and I really would hate to go to someone else. We are in California. Any input would help!

Read more: Is 4.8% a good mortgage loan rate in California?

Lawrence work as a car salesman?

1. Lawerence works as a car salesman. He is paid a monthly salary of 1,050 plus 3% of his total sales. What is Lawerence's total annual pay if his average monthly sales are $26,000?

F) 13,300
G) 38,600
H) 31,578
I) 21,960

2. You have the option of two checking accounts:
OPTION 1) $100 minimum balance, 1% monthly interest, $5 monthly fee
OPTION 2) $500 minimum balance, 0% interest, $o monthly fee
If you deposit $1,200 a month into your checking account, then which of the following statements is true?
F) You will have $512 more available to spend after one month if you choose Option 1.
G) You will have $500 more available to spend after one month if you choose Option 1.
H) You will have $412 more available to spend after one month if you choose Option 1.
I) You will have $407 more available to spend after one month if you choose Option 1.

3. According to the amortization schedule, which of the following statement is false?
F) 77.6% of the first monthly payment is applies towards interest on the loan.
G) Approximately 1.48% off the principal is paid during the first 12 months of the loan.
H0 P(n) = 100000 - 536.83n can be used to calculate the balance on the loan if n is the number of payments.
J) P(n) = 536.82n can be used to calculate the total amount paid on the mortgage if n is the number of payments.

4. Brett smith insured his home for $245,000. If his insurance rate is $0.94 per $100, his annual premium is which of the following?
F) $2450
G) $24525
H) $2303
I) 2603

Read more: Lawrence work as a car salesman?

Are taxes the biggest expense most American families will have?

Are taxes the biggest expense most American families will have?

Read more: Are taxes the biggest expense most American families will have?

Moving with the In-laws to save money for a house? Good or bad idea?

When my bf and I started dating his parents esp his mom never liked me. Then as I gave birth things has change we became 'okay' like we dpnt ignore each other anymore. After work my bf talked to me how his mom needs help with her mortgage since she is only working on call and barely getting schedule this past weeks, and at the same time we already planned(like last year) that we will be living with my sister to save money, because our lease in our apartment ends this coming april as well as my sisters lease. My sister doesnt wanna move in with them nor did I?!

am I being selfish? I know we could use some help but it's hard to live in a place where they will always have visitors… Esp my future sis in law has 5 kids and my future MIL baby sits them all? And he also said i dont have or me and my sister dont have to deal with his parents he will be the one? Is he nuts?

Read more: Moving with the In-laws to save money for a house? Good or bad idea?

Can I purchase a forclosed home for invest purposes using the funds from a self-directed IRA?

Forclosure was once owned by my Father who passed away in 2013. At time of death, he was upside-down on his mortgage and behind on payments. I was never atttached to the mortgage, but was name admin. Of estate following his death. Lender tried to have me take on loan, but wouldnt of been smart financially on my part at the time. Now that the price of the home has dropped (50%), and is now in forclosure, I would like to purchase it as an investment property. (Home needs major work)

Read more: Can I purchase a forclosed home for invest purposes using the funds from a self-directed IRA?

Is having $70,000 savings impressive for a 23-year-old?

Is having $70,000 savings impressive for a 23-year-old?
Added (1). On one hand, it is above average. But on the other hand, it can't even buy a house (without a mortgage).

Read more: Is having $70,000 savings impressive for a 23-year-old?

Why do bears fans hate packers?

my husband's job transferred him to Wisconsin and we're temporarily staying with my in laws. I'm a Packers fan and I was so excited because I would get to watch my team play on tv often. But that isnt the case. For some background info, we are splitting all bills including the mortgage with his parents. My father in law, a huge bears fan, told me that I'm not allowed to have packers jerseys, hats, jackets, etc in the house and im not allowed to watch my team (even though we split the cable bill). My husband can support and watch his team, steelers, and my mother in law can support and watch hers, 49ers, so i know its not All teams, just mine. So what is with bears fans hating packers so much that they have to take it out on anyone who supports them, even when it's family and obviously bogus?

Read more: Why do bears fans hate packers?

Is it okay to withdraw a lot of money for a vacation right before applying for a mortgage?

Will they say anything about it wgen they look at my statements? I still have 20% to put down.

Read more: Is it okay to withdraw a lot of money for a vacation right before applying for a mortgage?

How much does my credit rating effect my ability to get a mortgage?

My fiance and i have been talking about buying a town home, obviously we we would need a mortgage. I m 24 alomst 25. When i was 20 i was very irresponsible with credit cards. My mastercard went into collections. My parents lent me the money and i paid off my collections debt within 2 months. Since then i have been very responsible with credit cards and any sort of payments that i owe i pay right away.
** i dont know how credit ratings work. I assume i have been able to build my rating in the past years since i was in collections. Im afraid that we will not be allowed a mortage because of me that is my main worry. My fiance has never had a credit problem, he is in good standing

Read more: How much does my credit rating effect my ability to get a mortgage?

What kind of house can I afford if me and my partner make 140K a year?

I know we can afford a million dollar home but I am not sure if we can go a bit higher, for example a million and 90 000 thousand.

How would i calculate it?
Thanks

Read more: What kind of house can I afford if me and my partner make 140K a year?

Can you get a mortgage loan for more than a house is worth?

Found a property in decent shape that someone stopped remodeling. It's only worth 20k but I'd like to secure a mortgage for it for 40k which would solve everything wrong with it possibly tripling the property value. Would a bank do something like this? I can get just the mortgage for like 90 a month so I'm curious if I can't get more. Any advice?

Read more: Can you get a mortgage loan for more than a house is worth?

If your mortgage company sells your mortgage to someone else can they raise your rates?

If your mortgage company sells your mortgage to someone else can they raise your rates?

Read more: If your mortgage company sells your mortgage to someone else can they raise your rates?

Three years after foreclosure we are wanting to buy a house?

Three years after foreclosure we are wanting to buy a house?
Added (1). We have worked hard and saved up enough for a 20% down payment on a small house. Would it be possible to get a conventional loan or would we need to get an FHA loan? Credit score is around 630 so not great but enough for an FHA loan. I think we should at least apply for a conventional loan.

Read more: Three years after foreclosure we are wanting to buy a house?

How to do a deed in Liu on a property that is in Florida and has joint tenants with survivorship?

How to do a deed in Liu on a property that is in Florida and has joint tenants with rights of survivorship?
Long story short I have a boyfriend we got a mortage and we were both put on the title in 2007 with joint tenants with rights of survivorship both of us 100,%. He left me in 2008 I have continued to pay the mortgage but now I can't afford it I want to do a deed in Liu but I don't know if only I can do it without him just myself to the lender or does he have to sign also. FYI he disappeared with my friend have not seen or heard from him since then help
Edit

Read more: How to do a deed in Liu on a property that is in Florida and has joint tenants with survivorship?

In the case of divorce, best way to financially protect yourself? (hypothetically)?

Me and my friend were arguing over this one day, and he says that men will always get screwed in a divorce no matter what (assuming that the husband generally makes more income than the wife, or she doesnt even work). I said that first off, why marry a woman who is socially useless in the first place, if you did then the best way is to keep the paper work separate, as in money in your bank account wont be separated as long as it wasnt put into a joint account. Same thing for property. If you legally own the house and pay 100% of the mortgage, she has no rights to it. General principle is that only the things that were put into the marriage are split (joint assets), not all assets individual or joint. In the case of child custody, the woman often wins but if you are in a socially higher position, say stable employment and clean record, while she is unemployed and potential income is about half of yours, the man will most likely win. Another point is that if the wife uses recreational drugs even marijuana, bring it to court and its a auto win given you arent using any. Am I correct? Please leave your thoughts, legal not moral

Read more: In the case of divorce, best way to financially protect yourself? (hypothetically)?

Who are the best Mortgage companies who offer the best rates for excellent credit?

Who are the best Mortgage companies who offer the best rates for excellent credit?

Read more: Who are the best Mortgage companies who offer the best rates for excellent credit?

How to raise credit score in this situation?

Here is the situation:
A client has scheduled a meeting with you because he/she is looking for advice on how to improve his/her credit score. The client recently checked his/her credit score and discovered that it is 680. The client wants to purchase a home within the next 12-18 months and thinks a higher credit score may lead to lower interest rates on the mortgage. The client has a fair payment history, only making a few late payments in the past 24 months. The client has three credit cards and is carrying a collective balance of $6,200. You have a meeting scheduled with your client to present your advice
I need help asap, thanks!

Read more: How to raise credit score in this situation?

How to get into the renovations business?

I know it sounds generic but I have a family and a mortgage so lets face it, I'm stuck. But theres nothing I can do about that now. I work monday to friday as an inventory analyst. I have spent years doing home improvement projects (im only 25 though). It's in my blood. I was born to be great at this… I'm so happy doing what I love on the weekends improving my/friends homes and its so depressing going into the office/just not me anymore/i've evolved. With all of my responsibilites, how can I get into the renovations business and gradually do it full time? Im looking for constructive ideas. Do people start doing contracts on the weekends? Any success stories from any people making successful career transitions? It's hard to leave my income now and go into the trade cold turkey.

Read more: How to get into the renovations business?

How to borrow money when my credit is maxed out?

I have three kids. First one is senior in college, second one is sophomore in college, and third one is junior in high school. I've been using my credit to borrow money to support the college tuition and housing. But my credit has been maxed out. The lender notified that I can't borrow anymore. But I still want my sons to continue their studies until they finish graduate schools. Is there anyway I can borrow more money? Or is there better way to solve the situation?
Added (1). Would it be a good idea to consolidate existing student loans with home mortgage? In this way I can free up some credit limits so I can continue to borrow?

Read more: How to borrow money when my credit is maxed out?

What does owning a car outright mean?

Doing a project for school about auto insurance and am being asked what my options for auto insurance and coverage are "if I own my car outright".

Read more: What does owning a car outright mean?

Refinance or Keep Making Extra Payments?

I've been making extra payments on my mortgage, and because of that, I have 15 years remaining. The interest I will pay on this loan is $74k over the life of the loan. I could refinance to a 15 year mortgage and the interest I would pay on that loan goes down to $44k. However my monthly payment would be about the same. Obviously I'm paying more in interest now, but is it even worth refinancing if I'm paying out the same amount over the next 15 years?

Read more: Refinance or Keep Making Extra Payments?

Would I be materially participating?

Would I be materially participating?
If not, should I be considered a tenant on my taxes? I own a house with four bedrooms. I lease out three rooms and I live in the fourth one. I have lease agreements with all tenants for one year. I rent them out at a fair price.
Under the lease agreement I pay all utilities.
I spend 1500 hours a year managing it. I have a separate checking account strictly used for the mortgage, income, utilities and expenses of the home.
ALSO,
I have a full-time job also where I work eight hours a day.

Read more: Would I be materially participating?

Verification of Mortgagee (VOM) and credit bureau reporting?

I was recently approved for a new home loan. This process showed that all three credit bureaus did not report any derogatory information against the my mortgage lender therefore sold my home in 2014. As I came close to closing escrow the mortgage underwriter requested a verbal VOM. When requested lender holder reported 30 days late consecutively for 2 years. Mortgage statements never came in with late fees or with payments showing missed payments. I did file for Bankruptcy in 2012 but why would the Mortgage company report different information? I would have never sold my home knowing I would not be eligible to purchase a new home.

Read more: Verification of Mortgagee (VOM) and credit bureau reporting?

Is there a simple way of freeing money up that's tied up in non mortgaged property?

after a divorce I find my self owning 2 houses both rented out to tenets and both mortgage free but I could do with obtaining some extra cash to help buy a house for me to live in without having to loss the rented income and selling the 2 houses

any suggestions of a simple but sensible way of doing that thanks

Read more: Is there a simple way of freeing money up that's tied up in non mortgaged property?

Which amounts form part of the total cost of a mortgage?

A.monthly interest, down payment, and mortgage tax
B. Closing cost, starting deposits, and down payment
C. Closing costs, down payment, and monthly loan payments

Read more: Which amounts form part of the total cost of a mortgage?

Chances of getting a mortgage on own low income?

18 year old, same employer 2 years. £6,500 guaranteed income & overtime proof
£27,000 property
Have one credit card payments made ontime and in full. Contract phone therefore have good credit history.
No other financial commitments apart from £80 a month rent inc bills.
Have the 5% deposit & solister fees in cash at bank what do you think my chances are of getting a mortgage? Thanks

Read more: Chances of getting a mortgage on own low income?

Do you get more financial aid if you have a sibling who is also in college?

I am about to start filling out my FAFSA for the 2015-16 school year. I will be a senior in college and my sister will be a freshman. Up until now, I've only received mostly unsubsidized loans because the gov't thinks my parents make enough money to help me pay for college (not the case, they do make a decent amount but it all goes to mortgage and bills). This upcoming school year my little sister will be in college too. Will this give us better financial aid, since it's more of a "burden to the family finances" having two students in college? I figured they take this into consideration because on the FAFSA they ask household size and then # in household attending college.

Read more: Do you get more financial aid if you have a sibling who is also in college?

When will rent go lower than mortgages?

now that i have to rent the rents are ridiculous when are they likely to drop?

Read more: When will rent go lower than mortgages?

Why kind of rights does she have if her son withdrew all her life savings?

My ex husband lives in Finland and his mom lives here. He was here for a visit recently but that is strange because he hasn't spoken to his mom in years because he told me she didn't understand him growing up and it is unforgivable. After he left she discovered that he withdrew her entire life savings. His name was on the account along with his brother in case of emergencies. I guess she never felt the need to take his name off the account. But he withdrew the money right before he left. She is now selling the house because she has nothing to live on but her SS. Does she have any rights since he was a signer on the account? BTW, I'm going to take this information and give it to her but then stay out of the situation because I'm not really family any more. His brother told me he was written out of the will after this happened. He hasn't talked to her since. BTW, I'm going to take this information and give it to her but then stay out of the situation because I'm not really family any more.
Added (1). Can you imagine why I didn't want to stay married to such an upstanding individual?
Added (2). I'm sure you are right but I feel horrible for her. I'm torn between trying to help a sweet old woman who saved her whole life and the fact I'm not her DIL any more and should stay out of it.

Read more: Why kind of rights does she have if her son withdrew all her life savings?

Heres my situation if anyone will advise?

im about to have to move myself and my kids out due to foreclosure coming up in the next 4 months or so. I have been lucky to be able to remain in our home for over 2 years without a mortgage pmt. Because i have had alot of bad luck finding employment! Now, i may have finally found a job and everything is coming to the end of the old an new beginnings. I keep having these reoccurring anxieties about not being able to keep the job for whatever reason, and thenmy kids and i will be in a home where i need to pay rent but not be able to! After all so many jobs are lost due to company transitions etc. Etc. Does anyone feel this is irrational?

Read more: Heres my situation if anyone will advise?

Slow first year of self employment - do I need to file taxes?

As of February of this past year I have been self employed and taking care of some of my boyfriends nieces and nephews. Prior to that I worked for an insurance company making about $2500 a month gross (so about 2 months of the year) Due to some issues with State Child Care assistance I didnt end up getting paid for 6 months of child care for 3 of the kids (lost about $6k which I wont get paid bc the mother cannot afford to pay me period. My mistake for treating family like family and not clients I will never do that again) The other kids I was paid by State care assistance and received about $6000 for 2 kids, I also participated in the cities Crisis care for families and was paid about $1500 by them. The food program reimbursed me about $1000 so far for the year. I received another roughly $1600 from random families I took care of off and on over the year.

I read that if you didnt make more than $10,000 net you do not need to file a return. While my numbers are great than $10k they are only gross figures. I have a TON Of deductions as well - Mortgage/utilities, toys, food, supplies, etc. So I would think my Net would be much less than $10k. Should I still file a tax return? I received probably $4000 net from my previous job before I quit in 2014.

I also am concerned that I may have more deductions than income - how will that effect my taxes? I assume this means I will have to report a loss?

Read more: Slow first year of self employment - do I need to file taxes?

Moving to Beverly Hills, is it possible?

Hey everyone, I'm a 21 year old that recently inherited 300k. Here is what I wanted to do:

1. Buy a condo in Beverly hills by putting a down payment of 20% and mortgage every month would be about $3,000

2. Get a job to afford the mortgage. I speak fluent japanese so I was looking online for jobs that need that skill and turns out there is a lot of that and they pay about $20 and hour.

Does this sound realistic? Any advice? It's alwys been a dream to live there

Read more: Moving to Beverly Hills, is it possible?

So just exactly what is a race card and where can I get one?

I go to work every day and pay taxes. Very high taxes at that. My job is hard work but it's honest work and I'm proud of being productive. I served my country in the military as did my dad and his dad before him. I pay a mortgage, school loans, car payment, utilities, and still contribute charity with what's left over.
So where the heck can I get me a race card? I hear all the Tim's on hear that if black people play the race card they do not have to work, get free college tuition, food stamps, and free electric in their free project apartment.
Can I use the race card to show the police when they stop me for DWB (driving while black)?

Read more: So just exactly what is a race card and where can I get one?

Do you think the insurance company should pay the claims or not? Why?

John and David are businessmen and friends in the same company. In July, 2000, John wanted make his own way. He resigned from his job and became a self-employed man. When he began to open his business, he was in great of need of circulating funds, so he asked David for help, promising to pay more interest higher than that of the bank and pay his money after one year on time. In order not to let David have worries, John mortgaged his Honda to him. With the consent of John, David bought one-year motor vehicle insurance in his own name from the insurance company.
Six months later, When John drove the car to work, an accident occurred, the car was overturned and damaged totally. He was seriously wounded. On hearing the bad news, David reported the case to the insurance company and made claims to it.
Discuss: Do you think the insurance company should pay the claims or not? Why?

Read more: Do you think the insurance company should pay the claims or not? Why?

Has anyone successfully gotten a mortgage loan with a score of 620?

Has anyone successfully gotten a mortgage loan with a score of 620?

Read more: Has anyone successfully gotten a mortgage loan with a score of 620?

I jusy filed taxes, when i will get paper work back?

i jusy filed taxes when i will get paper work back. I dont care when i get the income taxes. I need to paper work to get a mortgage. Do you know how long does it take to get the paper work?

Read more: I jusy filed taxes, when i will get paper work back?

Federal taxes and Princial Mortgage payment?

Federal taxes and Princial Mortgage payment?
Added (1). Ok, So we dropped $120,000 cash on our house in 2011 after one year of having the mortgage. We were supposed to file this on tax returns? I am under the impression no, but wanted clariffication.

No, we didnt pay enough on property taxes to Itemize and qualify for the mortgage interest deduction, so the governemnt sint subsidizing our Home. Kinda sucks that the responsible ones dont get compensated, but ohh well. Please let me know your opinion, Thanks
Added (2). Thanks Bostonian. I dont gamble with hard earned cash. My mortage is 2.75%

Read more: Federal taxes and Princial Mortgage payment?

I live in the state of New York. Can I get a forbearance on my Wells Fargo mortgage and then filed chapter 7?

I live in the state of New York. Can I get a forbearance on my Wells Fargo mortgage and then filed chapter 7?

Read more: I live in the state of New York. Can I get a forbearance on my Wells Fargo mortgage and then filed chapter 7?

What would you do about this money?

I am 35 (woman) with my own home and mortgage, my Gran left me and my Brother the same amount each when she died about 16 years ago. The money has been maturing in bank accounts, I got a mortgage about 2 years ago now and used her money and money I had saved up as deposit. My brother had saved nothing so even with her Gran's money couldn't get a mortgage as had no deposit. My parents used his share of Gran's money and gave him the rest for tha flat and bought it out right for him with NO mortgage as they don't trust him with money, basically he spends it like water. Now, my Mum wants to put £500 into my mortage every month (overpayment) as a way of evening up the balance. She has been doing this for a year but our relationship (isn't the greatest anyway, her and my brother are like BFF) has been strained down to me seeing a man 20+ years my senior, so now I feel guilty about accepting this money as I feel beholden to her, like I have to be "princess perfect". I saved for years (about 16 years!) formy deposit, paid my own solicitors fees etc. And had to go cap in hand to the bank for a mortgage. My brother, who has always been naughtier than me (stealing family money, stealing family valuables etc.) had everything given to him on a plate. What should I do? Thanks x

Read more: What would you do about this money?

I'm not really good with personal finance, help?

I'm not really good with personal finance, help?
Added (1). 1.) Which of the following are you usually able to deduct off your tax return?

interest paid on credit cards

interest earned from a bank account

interest paid on a mortgage

none of the above

Read more: I'm not really good with personal finance, help?

What right do I have to collect my things from my ex, when he refuses to give them to me?

I was with my partner for 3 years, early last year he bought a home which we both moved into. He paid the deposit for the house so I never requested for my name to be on the house, but I paid towards the mortgage and bought a lot of items in the house including a £1000 fridge and £300 washing machine; both I have invoices for.
After all the hard work I put in the house, I noticed a change in him, and he soon asked me to move out so he could 'miss me'.
Anyway, he never ended up missing me as two weeks later a new girl had already taken my place and I was left pretty broken. I asked for the fridge and washing machine back, but he refused to give them to me because of the amount of money he had spent on me during our relationship, paying for a holiday etc.
It was a hard time for me so ive left it a couple months, but now ive had time to move forward, I still believe I am owned what is mine. I put a lot of time and effort into that home, and I have invoices which prove those items belong to me.
If he refuses to give them to me, what right do I have to collect them? I still have a key to the house which he doesn't know about, can I go in and get the items myself?
I just don't know where I stand at the moment with the situation, as he point blank refuses to give them back to me even though I paid for both items and they are both in my name?
Any advice would be appreciated, thanks.

Read more: What right do I have to collect my things from my ex, when he refuses to give them to me?

If you were given one day and a budget of $1,000 to make a difference in your community?

What would you do? Whom would you involve? What would you hope to achieve?

Read more: If you were given one day and a budget of $1,000 to make a difference in your community?

What countries have 100 year home mortgages available?

What countries have 100 year home mortgages available?

Read more: What countries have 100 year home mortgages available?

Looking for information on mortgage rates for a first time homebuyer?

My husband and I are looking to buy our first home. We negotiated the price the price with the sellers for $412,000. We only have 5% for a down payment, but excellent credit and our combined salaries is $150,000.

What mortgage rate might we expect to get on a 30-year loan? I feel like I'm not getting the most accurate information on my online searches.

Read more: Looking for information on mortgage rates for a first time homebuyer?

Will Americans get the facts on illegal immigration in 2015 or will they continue to watch Fox News?

for example:

* Illegal immigrants pay billions in taxes
* Illegal Immigrants Commit Less Crime Than Americans
* Illegals have been banned from Gov't benefits since Clinton.
* Illegals still doing those jobs we would never do.
* Illegals have a mortgage loan default rate of 1%.
Added (1). EDIT: Home loans to illegals have a default rate of 0.5%

Read more: Will Americans get the facts on illegal immigration in 2015 or will they continue to watch Fox News?

IM TOLD MY CONDO ASSOCIATION IS NOT ELIGIBLE FOR ME TO RECEIVE A REVERSE MORTGAGE?

IM TOLD MY CONDO ASSOCIATION IS NOT "ELIGIBLE" FOR ME TO RECEIVE A REVERSE MORTGAGE?

Read more: IM TOLD MY CONDO ASSOCIATION IS NOT ELIGIBLE FOR ME TO RECEIVE A REVERSE MORTGAGE?

Why do Americans say they own their homes when they really just have a mortgage?

They don't own anything. They just have a mortgage that they pay like rent each month. And even when they are done paying it they still have to pay property taxes(same as rent). When do Americans keep claiming they "own" their homes like this?

Read more: Why do Americans say they own their homes when they really just have a mortgage?

What is the best way give a house back to the bank with an upside down mortgage?

I owe $60,000 on a house worth $30,000. Can the mortgage company sell my house at an auction and sue me for the rest? How is such an event prevented?
How long can I stay in the house once I stop making payments?

Read more: What is the best way give a house back to the bank with an upside down mortgage?

Why Does My Neighbor Want Me To Change The Trust On My Condo?

My neighbor is a real estate investor. He buys and flips some properties. He holds onto others. He is in a partnership with 8 others. He is in a legal dispute with the condo board. He wanted me to run for the condo board and/or sign papers that would go in his favor. However I cannot because the condo trust is my moms'. He's been putting pressure on me to have the condo trust changed so I can legally be on the condo board and allowed to sign papers for the condo board, etc. I think he is going way over his boundaries. I told him I have no interest in running for the condo board. Could he have other motives for my moms' condo trust to be changed? Could he be a con artist trying to steal the condo away from my family? Is there a way he can do that if the trust is changed to my name? There is still a mortgage on the condo and he knows it. In fact I did not tell him the condo was in a trust. He found out by looking on real estate records. He also told me he knows of someone else in my complex whos' trust is in their mothers' name. Why is he so interested in it? Is it so people like me can vote in his favor and be on the condo board? Or is he trying to take condos away from people-being a con artist? I met a couple of his business partners. Him and them seem like shrewd people and drive Mercedes. I don't want to get caught up in a bad situation. I am not having the trust changed in any way or signing anything.

Read more: Why Does My Neighbor Want Me To Change The Trust On My Condo?

How to contact payoff dept of Sunttrust Mortgage?

How do I contact payoff dept of Sunttrust Mortgage?

Read more: How to contact payoff dept of Sunttrust Mortgage?

Mortgage and interest rates-determining a lower interest rate?

Quick scenario: Looking to buy a house in 6 months with my significant other. He/she went in for pre-approval and was approved for 180,000 and 7% on her own. Would adding me to the mortgage lower the interest rate or would they just choose the lower FICO score?

Read more: Mortgage and interest rates-determining a lower interest rate?

If you win a house on HGTV sweepstakes do you have to pay the mortgage or do they pay it for you before hand?

If you win a house on HGTV sweepstakes do you have to pay the mortgage or do they pay it for you before hand?

Read more: If you win a house on HGTV sweepstakes do you have to pay the mortgage or do they pay it for you before hand?

Do you work with a national big mortgage lender or FHA themselves?

My husband and I are hopefully purchasing a home this spring. My husband and I successfully finished a chapter 13 bankruptcy three years ago.
The bankruptcy came because of my husband being unemployed for nearly 18 months. He has a good job of nearly 12 years and is in upper management.

Our credit score is good now near 700 after years paying bills and a car loan on time. Our rental history is excellent.

We are not looking for an elaborate home. We want a ranch style older home. I have a real estate agent that I have used for our last 2 rentals. She will be the one I use to help us find our home. My husband has been prequalified for a mortgage through Quicken Loans. I consulted with a mortgage broker 2 years ago and she said that rental history is just as important as the credit score.

Should we use FHA through a private company or use a big lender? Why is it necessary to prequalify for a mortgage also? So many questions. Thankful for answers.

Read more: Do you work with a national big mortgage lender or FHA themselves?

Advice on life opportunities?

Hi!

Now the new year is in, I've been reflecting on my life so far. I'm 32 and I live mortgage free in my own house. I am employed in a stable job. I feel like I'm in a good position regarding the house - is there anything I can do to add change to my life? Opportunities for example? What would you do in this situation?

Read more: Advice on life opportunities?

What happens to my mortgage if the dollar crash?

What happens to my mortgage if the dollar crash?

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Joint mortgage, what can I do?

I moved into my home in 1999, with whom is now my ex husband, (who left me 2000), I have since remarried and my husband moved in with me in 2003 and came on the mortgage with me!
I am now looking to move out as I am in an abusive marriage now, I have been offered alternative accommodation up North by an agency, how do I stand if I either stay on the mortgage and rent this other house. Or sign the house over to him! My husband is staying put and refuses to move out or sell! What can I do? Or do I just walk away? We are on an interest only mortgage, we have 15 years left, and I can not see us ever having enough money to pay for it at the end of the mortgage term anyway!
Advice any one Please!

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Can i make my own house floor plans to build a house?

I am interested in building my own house and i was wondering if i can design my own floor plans or do i need to hire a proffesional? I have an idea of what i want my house to look like and what materials i want to use to do it and i know i need to buy land to build the house on. I also know i need to have the land surveyed and get building permits but thats all i really know. I KNow that this is for sure what i want to do, i dont want to buy a home thats been built terribly and way overpriced just because its in the city and have a mortgage for life. I was wondering what else i need to know about building my own home in terms of steps when it comes to construcing it and the laws. Any tips would be much apreciated, would be nice to here from people who have built their own home. Thanks

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What's the average time for a mortgage to go through?

Applied for a mortgage, and while it was approved, there always seems to be some sort of red tape, such as, "Oh, we need this faxed over" and "we need to talk to your bank" and "we need to make sure the heater works fine before we finalize it." As a result, the closing date keeps getting pushed further and further back.

So what's the average amount of time for this process to take? And is the problem with the mortgage company, or the realtor, in your opinion?

Read more: What's the average time for a mortgage to go through?