rive_gauche79 asked:


My mother died in April, leaving a home with a mortgage. I am her only child, and have been unable to pay her mortgage; it has gone unpaid for four months. I just received rights as Administrator of her estate, and will now be able to communicate with the mortgage company regarding the home. I do not want to lose the home or sell it now. I would like a loan modification, so I can rent it out, and sell it later when the market has improved. Do mortgage companies grant loan modifications under these circumstances?

Justin

apklam asked:


We are trying to sell our home, and the home we hope to buy requires a $25,000 downpayment. However, we won’t have that kind of money available until we sell our current home. Are there loans available that would cover this cost until our current house sells?

Amber

BDZ asked:


I have an ARM. I cannot refinance. How can I go about negotiating a loan modification with my lender. I don’t want to be just a name and account number. I can meet the existing payments and to date have not fallen behind. If they raise the interest rate any further then that will be the tipping point. Are there organizations out there to help me such as HUD, etc. Do I already have to be in default before they’ll consider a loan modification?

Maureen

toohotnky asked:


I am in the process of negotiating a loan modification for our mortgage. Is it always this hard? Do you really have to negotiate constantly with the mortgage company? It seems like its never going to end.

Kelly

mandy asked:


Do I have to be late in payments.
Do I need to hire a company to do so, or could I just do it myself.

Edward

pree j asked:


we hear this company will get our loan modified to fit our budget and to avoid foreclosure.. but they sound too good to be true… anybody know of a company that we can trust?

Katherine

Alan Lim asked:


Home Loans

A home is not something that one goes around buying on a regular basis. It is a carefully planned move and often comes attached with high expectations and anxiety. It is also more often than not unrealistic to imagine buying a home without a home loan of some kind. But let’s begin with the preparations you need to do to apply for a home loan.

Preparing for a loan application

Some lenders might not require any but if you are in a position to make a down payment, the larger it is the better it is. Calculate your personal finances; total monthly income and the amount you have as savings to estimate how much you can spend on your monthly loan payments. Don’t forget to gathering your documents; pay stubs and the W-2 forms if you are employed, and a balance sheet and income tax returns for those who are self employed. All applicants must also have ready their bank statements and information on investments. If the loan applicant is someone who has retired with pensions, a 1099 form, along with the person’s social security award letter and copies of the pension checks are generally required.

Type of home loan

There are several types of home loans that a lending organization can offer to people. The most popular is possibly the Fixed Rate Loan which lets you know from the start how much your periodic instalment payments will be because both the principal sum as well as the interest rate is fixed. This way, you have the advantage of preparing for your payments on time. The other option is generally the Adjustable Rate Loans. There are also other flexible loan programs that are offered buy this may vary from lender to lender.

Interest on a home Loan

The national mortgage rates also change based on a variety of reasons. For example, the interest rates on the first week of August 2007 have been as follows; 6.11% for a 30-year fixed loan, 5.76% on a 15-year fixed loan, and a 6.60% on a 30-year fixed jumbo loan. Because rates can fluctuate at any time, fixed loans are generally considered safe.

Home loan benefits

Benefits from home loan can differ from country to country. In the United States, the Department of Veteran Affairs offers one of the best home loan benefits for war vets. A Veteran Affair Loan generally ensures a guaranteed loan where the interest rates are negotiable and tax deductible and other fees generally lower than usual.

Normally they also don’t require any down payment. General professionals who earn $50K to $80K a year can also sometimes qualify for a discount on the interest rates.

There are other general advantages of a home loan too, especially if you take a home equity loan. All of your interest on the loan is tax exempt. Also, because the home loan industry it self is so huge and an interlinked in the international financial market that companies often compete with each other to lure more customer to their institution by offering better rates and packages. Also, as the prices of real estate continue to rise as it has for sometime now, the homeowner is also generally able to take larger loan.



Tracy

Sonny asked:


I am a Realtor in Utah and I’ve been told that these loans are being used. I get clielts all the time asking about the ITIN (no SSN)programs,but can’t really find any bank that do them in Utah.

Marion

cumbrlnd asked:


My mother who is 85 got a equity loan on her home rather than a reverse mortage loan. I was told today that when she passes the total loan becomes due and payable? Basicly that we can’t just keep making the payments. Is that true? She did this loan so the house could stay in the family rather than it being lost at the time of her death? Wat that the right choice any input would be appreciated.

Lucille

Andrew Baker asked:


Home Loans are the best option you can go for to finance a new home. You can apply the home loans for constructing a home, purchasing a ready built house/flat, residential plot.

Every one has a dream of having their own home rather than spending life in a rented house. But people can not afford this expectation as it demands a lot of money to fulfill. With the help of home loan you can realize the dream of having your own home without any financial problem.

Home loan is a secured kind of loan where home is the only security against the loan. This kind of loan enables you to get a large amount of money with low interest rate and flexible repayment terms. Because you are providing home as security you are benefited in terms of better interest rates and repayment period .You can also spread your borrowing over a longer time in this type of loan.

Secured home loans generally amount from £5,000-£75,000. Repayment term varies from 5-25 years depending on the loan amount.

Secured home loans are based on borrower’s requirements. They can use the loan amount for any purpose such as refinancing the home loan, renovation of home, investing in property and debt consolidation without any restrictions.

Bad credit borrowers are also eligible for secured home loans. The home of the borrower is pledged thereby convincing the lender to offer them a lower rate.

Secured Home Loan application process is very simple and quick responding specially on online process. You can get your loan within a very short period time through online process because of its time saving factor.

Now borrower can easily purchase a new home with the help of home loans which provides a bigger amount. Hence, secured home loan is an easy way to fulfill your demands.



Dana