Archive for January, 2008

my mom passed away, How do I find out if she had credit life on her home mortgage?

Wednesday, January 30th, 2008
home mortgage loan credit
tunga_01 asked:


My mom recently passed away and she had a home mortgage. She had another mortgage on a previous home loan and now I can’t find any paper work on her new home mortgage. I called the bank that she has this loan with and they won’t tell me anything because I am not the executive of her will. Problem is my sister is the executive and I have a bad feeling they are trying to sell the land and take the money without telling the rest of the remaining siblings. Any help would be greatly appreciated!
Well in her will it does state that me and my other brother gets a piece of the land. But my other siblings say that it is mortgaged and that she had no credit life to pay it off. They won’t show us any paperwork and they act like the bank won’t give them any copies, which is a lie because I talked to the bank. I am going to get an attorney to fight this but I wish I knew of a way to find out for sure if the land is paid off or if they are telling the truth about it still being mortgaged.

Kathleen

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Posted in Renting & Real Estate | 5 Comments »

can i get a home loan with 10 to 20% down.good credit.no income verification.150,000 mortgage loan?

Monday, January 28th, 2008
home mortgage loan credit
renan h asked:


answer from someone experienced.knowledgeable.thanks

Ruth

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Posted in Renting & Real Estate | 4 Comments »

Home Mortgage Loan 6.5%. Please Help?

Monday, January 28th, 2008
home mortgage loan credit
nite_angelica asked:


We have been approved for a home loan… I know those fluctuate and they went down today. When I called the bank they said:

30 yr fixed - 6.5%
15 year - 8.125

The 30 yr is a large loan and the 15 year is a very small loan. These seem really high to me. Are they? They have gone down twice today because it was 6.85 on Friday.

My credit is ‘good’, but certainly not spectacular. Is this about the best I can hope for? I really don’t want to buy points.. and I **** to wait until it ends up going back up.

Is this higher than most people are getting right now?

Thanks!

Holly

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Posted in Renting & Real Estate | 4 Comments »

I need a NO credit check, NO Docs, Home Equity Loan. I own my house (no leins) and only want 80% Loan To Value

Thursday, January 24th, 2008
home mortgage loan credit
Tommy Lee asked:


I am tired of online mortgage sites promising no docs no credit check loans and not really being anything but regular standard lenders. I have a ton of equity in my 4 year old paid-off home. I wish to get 80% of the appraised value in a home equity loan. I work for myself and much of my income is not reported. I have been divorced and my credit score is bad. I do own the house though and wish to use that equity. Please only answer with a real solution. Predator lenders need not bother me with empty promises and credit card lending rates on a secured home mortgage/equity loan. It needs to be a lender that can operate in South Carolia as well. This is a house, 2 story frame built house 2168 sq feet heated. 2.5 baths and a 2 car garage all on a .51 acre lot. Thank You Very Much!

Bruce

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Posted in Personal Finance | 2 Comments »

where can i get a home equity loan ore line of credit loan with bad credit?

Saturday, January 12th, 2008
home mortgage loan credit
jmpoct03 asked:


my credit score is very low but i own a $75,000 house with no mortgage. i am looking for some kind of loan so i can do major repairs on my house but i keep getting turned down due to my credit. i have been at my job for almost ten years and make around $300.00 a week.

Jerry

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Posted in Personal Finance | 7 Comments »

Should I refinance Home Equity loan to consolidate credit card debt (I am buying a new house in 120 days)?

Friday, January 11th, 2008
home mortgage loan credit
Sean J asked:


Consider this:
1. I have $30k in credit card debt.
2. I have a 1st mortgage for $200k (4%) and a Home Equity line of $170k (at prime rate) with no additional credit available.
3. I am buying another house at the end of April.

Would I be better off refinancing my Home Equity and Credit Cards into a new Home Equity loan, or just stick with it as is?

I have heard that I may be able to get better rates on my loan for my new house if I refinance. Could this be true?

Thoughts? Opinions? Alternatives?

Francis

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Posted in Personal Finance | 2 Comments »

Bad credit mortgage loan?

Thursday, January 10th, 2008
home mortgage loan credit
AbileneTxen asked:


My husband and I are trying to get a home loan (we only need 20,000) for a home we are looking to purchase in TX. This would be our primary home. My husband’s score is 573 and we need to get this done as soon as possible. We have a small dp to put down (1,000 or so), any advice?

Javier

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Posted in Renting & Real Estate | 7 Comments »

Past credit problems, mortgage loan?

Monday, January 7th, 2008
home mortgage loan credit
Beca asked:


Hi,
My husband and I experienced credit problems a few yrs ago, since then we have been trying to reestablish our credit. We have financed and paid off a car with no late payments. His midscore is 600 mine is in low 500’s. We would very much like to purchase a home. Is there anyone that can help us with obtaining a home loan? We live in South Carolina and our annual income is in the $50’s. Thanks for any information .
We are in Aiken, SC. Thanks for any help.
Hi,
I received an offer from a lender on Lending tree and these are the details, can someone please explain this to me?

80/20 Combo Loan
1st Mtg Amt $80000 Rate 6.25 “2/28″ ARM
Term 30 yrs payment: $492.57

2nd Mtg Amt 17500 Rate 9.60000038146973 “30/20 Ballon (S)”
Term 30 yrs payment $148.43
Total payment $641.00

I have put in quotes what part I dont understand. Thanks

Douglas

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Posted in Renting & Real Estate | 4 Comments »

do you think we qualify for a construction loan, credit score wise? Please help?

Wednesday, January 2nd, 2008
home mortgage loan credit
jessicagraeler asked:


My husband and I have credit scores of 560 & 580 currently but we have a best buy credit card that shows that we have not made a payment in 9 months on our credit. I have talked to Best buy and they are in the process of fixing it because we had made every payment on time. Once (if) that is ever fixed then our credit should go up. We have 2 credit cards and have a good payment history with them. We currently have a home mortgage and within the last 3 years that we have had the home we have been late 3 times, several months apart. We also have a car loan with a good payment history as well. We make about $70,000.00 a year combined and we have our home loan of $115,000.00 and car of $15,000.00 and two credit cards with a combined balance of $3,000.00. I am currently building my own benefits company from home and I am making a good income on the side of my 40 hr job so that income is not included in the $70,000.00 a year yet.

When we purchased our home three years ago, we had zero credit. The mortgage company supplemented our credit so we could get a home, so within the last three years is where our credit is coming from. With that being said, we don’t have a very long history of credit and our scores are not very high. We are looking to build a home within the next two years, we would LOVE to have it build in the Spring/Summer of 09 but we don’t know if this is feasible and we don’t want to get our hopes up.

We are not expecting a large profit out of our home. We have a great started home in a good location. We are going to be building a 2000 sq ft home on 5 acres. The land is my mother in laws and she has 15 acres and we are getting 5 of them. We have paid her for the land but have not transferred the deed yet as we need to get it surveyed. The land where we are going to build is selling for anywhere from 20-25K an acre, so clearly we have equity in the land.

So my questions are this: Do you think we would qualify for a construction loan?
If not, how can we improve our credit quickly besides making more and extra payments on our monthly bills?
What credit score do you think that banks are looking for with a construction loan?

THANKS IN ADVANCE!!
Jessica

Vera

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Posted in Credit | 2 Comments »