Open Question: CLOSING COST ON A HOME?

IF A HOME IS 335,000 WHAT WILL THE CLOSING COST ON THE LOAN BE IF YOUR RATE IS 5.75%

6 Jan 2009, 9:01 am | click here to view more

Resolved Question: Can I sell my home if I take out a loan on it?

I am trying to buy a new home, but my credit is really bad, so I am trying to find a way to sell my current home and use the money to make an offer on the new home without having to be financed. If I take out a loan on the home I am living in, will I be able to use the money to buy the new home and then sell my old home and pay it back or is there any other way that I can do this without having to be financed?

5 Jan 2009, 7:18 pm | click here to view more

Open Question: how do i get out of dept from a divorce?

i have been divorced from my wife for a while now but still have the mortage in both of our names, my ex wife still lives in the home but i do not, we bought the home together when the price of the mortage was at a much higher velue, she doesnt make enough money to carry on the loan, is their a way i can take my name off of the loan while my credit is still good, also we both have a credit card with both of our names on it and my ex wife continues to charge items to it. what can i do to receive my name off of that as well please help me if you can, i would like to be able to purchase another home for my self but cant because my credit is maxed out with the ex. i would adore to start my new life.

5 Jan 2009, 5:49 pm | click here to view more

Open Question: Will a low credit score affect a VA home loan?

Hi. I have a fairly dismal credit score (Less than 600) because of bad decisions when I was younger. I'm getting out of the army soon, and I'd really like to go ahead and receive a home, so I can start paying on it rather than throwing money away on rent. I'm feeling really overwhelmed by every of this, and tried calling the VA (Veteran's Affairs, not the state) to sit down with them about it, but the nearest regional office is in NC and I live in MD. Are there any lenders that don't look at credit scores? The only negative stuff on my credit report is from credit card companies. I really could care less about them, but I always make sure that I take care of the "major things" (truck, car insurance, etc).

6 Jan 2009, 4:19 am | click here to view more

Open Question: We want to buy a new home, what should we do?

My husband and I are starting to look for a new home. We will not be moving for at least a year. We have a home appraised at 200,000 right now that we possess. We also have a home equity loan that will be about 30,000 when we move. Should this be paid off before we move? How does the down payment work for the next home? Do we need a ton of money saved before me move, like we did for the first home? Any info you can offer is greatly appreciated!! Thanks!

6 Jan 2009, 12:40 pm | click here to view more

Open Question: To take auto loan or not?

I need to buy a new car. I also want to buy a home in 3 month. Should I pay cash for a car or Take credit for a car and have bigger down payment or Take credit for a car and pay it off in 3 month (Looking 12K car, ) I have 1 credit card (4 years) (paid balance every month) and 1 car loan already (400$ a month 12 K left). I make enough money, my concern would it really decrease my credit or If I will pay it off shortly would it increase it. Credit score is between 700 to 750 depending on agency. Thanks EDITED to add - I crashed my old car. I mean I cannot possibly steer it for long - it is not very safe. I commute about 400 miles a week, so I have to do it.

5 Jan 2009, 3:45 pm | click here to view more

Open Question: court summons received, but settled I just out of court, do I still need to sign?

I fell behind in my student loan and it was given over to a debt-attorney's office. I contacted them and made a payment arranegment that is agreeable for both of us. However, on December 30th, a civil suit was filed against me. The summoner came to my home yesterday with the papers, but I was not home to sign and receive. They left a number to call them at. Do I still need to sign the summons and report to court even though I just made an agreement for repayment with the attorney? I have not called them yet. There is no reason to go to court since we have settled, right?

6 Jan 2009, 9:37 am | click here to view more

Open Question: Can my home be forclosed on?

My husband and I have been living in our home now for almost a year. When we first bought our home our loan got sold many times. We were making payments to different banks but none of them would ever cash the checks, they would return them to me. We are now set up with the bank that "say's" they have our loan. Everything lines up, it looks great, they are paying my taxes and insurance so our Escrow is "working". Well my husband got a call today from a bank that our loan passed through at some point (one that we did send a payment to) stating that every of our payments from June to gift should have been going to them and they are threatening with fore closer. Yes we may owe them a payment BUT it is not because we did not pay it, at the time they claimed not to have our loan. This bank did hang on to one of our checks for almost 6 months (every time we called about the check they told us they were going to send it back to us) and then proceeded to try and cash it. It ended up bouncing because we did not have the money in there. (Again, they said they did not have our loan and was sending the check back to us) I would adore any advice, stories or answers. Thank you

5 Jan 2009, 7:38 pm | click here to view more

Open Question: I got my taxes done. I owe $. For a home loan, will underwriting want to see they have been paid?

I needed to receive my 2008 return to apply for a loan ASAP. I do owe money, but it is not due until 4/15/09. What are the odds that the underwriters will make me prove that I've paid them? Will it effect my debt to income ratio?

5 Jan 2009, 7:57 pm | click here to view more

Open Question: Keep up with misery / or Give up everything that still ends up in misery or SUICIDE?

I have been having really bad troubles physically and mentally at work, so i ask myself, if i quit, i dont know what im going to do coz i have a car loan to pay and other little things. every i know if i find another work, i will just going to experience the same suffering and yes i have really trying to cure myself that i have not decided to look 'any' friends these days due to my problem healthwise physically and mentally. If i go in pension, what's left is that im just going to hang around every day at home and i know i will eventually bore myself to death. Its really really difficult for me to deal socially as i receive hearthburn, sweaty, staleness, anxiety and the list just goes on...... Im seeing a therapist later on and if it wont work, do you think suicide is an option? as every my life option and every the money i work for mostly go to my meds and docs to help myself but none at every came close. So anyone agrees that maybe suiciding is an option? Im not scared for myself but for my mom as im the only child - im worried what she's going to do if im not here anymore... So every these i have tried with every my knowledge and if the psychologist will fail - dont you think suiciding is more of an option??????????????

6 Jan 2009, 6:29 am | click here to view more

Open Question: How easy is it to get a loan of 8000.00 from my bank even though I am not working but do have income?

My credit history with my bank is excellent however I am not working right now as I am at home with my daughter. My income is from my husband who is currently working overseas and wires me about 4,000.00 a month. I could easily repay this loan but it is vital I receive it as I need some extensive dental work done. The other option would be to try and lift the ceiling on my credit card but that is an expensive option. What do you think?

6 Jan 2009, 12:22 am | click here to view more

Open Question: Rent to Buy Questions?

My fiance and I would like to rent with option to buy. She just became a Nurse and I'll be a Nurse in May, however our apartment lease is up April 1st and we CANNOT rent month to month. So we contacted the family realtor and had him look at some houses. Then we found a home we really liked that suited our needs perfectly. Talked to the owner who said he is willing to do the rent to buy. Now my realtor says we need to receive prequalified or preapproved. I said that I don't want to, because if we qualified for the loan, we would buy it!!! Therefore no need to rent! Our credit scores are around 690-725. We can easily qualify for the loan once I become a Nurse and start working, 180k asking price. However my fiance is still on her ex's mortgage and currently taking him to court to receive her name off it. What are our options and do we even need realtors to do this rent to buy? The owner and us are the only ones wanting to do this, while the realtors are opposing it. Lack of commission?! Thanks!!! Well Anna, yes we DO have the down payment, as I said we are just waiting for me to graduate. And you think we can't afford a 180k home? You have to be kidding me!!! My fiance makes about 50k a year as a grad nurse and I should make about 70k as an RN. You need to receive your facts straight.

5 Jan 2009, 7:09 pm | click here to view more

Open Question: Do you think the conditions of the auto LOANS should have been bringing all the factories back to the US?

Since the US is bleeding jobs (thank you NAFTA, Clinton, and the dems) (sorry Clinton's policy, Emanuel pushed for it) Do you think the American car manufactures should bring every those jobs that were shipped to Mexico, Canada, and India back home? Thoughts please.

6 Jan 2009, 11:39 am | click here to view more

Open Question: I have $55000.00 credit card debt, $24000.00 car loan, 3 home mortgages, my 3 homes have lost almost $50000.?

in value each. I am 2 months tardy in my 3 mortgages,my income is less because I was bump to part time. what solution is best to me , Chapter 7 bankruptcy or try and pay the debts.?

6 Jan 2009, 11:52 am | click here to view more

Open Question: No resources for college or anything?

I'm 16 (17 on the 24th). I've been home schooled since the 7th grade but I haven't really been doing schooling the past few years because I live with my mom who is disabled and there's really no time to sit aside and buy books or really go anywhere except the grocery store and medical things. I'm going to receive my GED soon. However I really have no resources for college at every. My mom is on disability. Any money I make from a job has to go into the household. I live with my aunt and mom. My aunt has schizophrenic paranoia and my dad is a heroin addict so life is even harder for things like school. I was reading about tuition free schools but from what I saw, you have to have SAT scores and a certain GPA. I have neither. Am I still eligible? I'm not stupid by any means. Just needy. Are there any resources for people like me? I don't really want to take out loans (besides I have no one to cosign for me) because if I really wanted to pursue my dream job (which I would like to tutor English in Japan), I wouldn't really ever make enough to pay them back. I'm just trying to receive a job to support my family that I can be decent at. I don't really care if I'm glad with it. So are there any resources for me? Please help. Thanks. No, I can't join the army. My eyesight is too bad and my health isn't good enough (which is why I'm homeschooled in the first place). And there is no school to sign up for in my area. There aren't any community colleges in my area either and I can't steer that far to receive to one. There's not even one in my county. I already work a job. I have to help support my family. I have no free time as it is right now. The only time I'm at home is to snooze for a few hours. That barely pays bills. I have absolutely no time for a second one to pay for through college.

5 Jan 2009, 10:32 pm | click here to view more

Open Question: Can you name me an example of deregulation that caused the economic crisis?

I can name the millions of loans made by Fannie and Freddy and the forcing of banks by law to make the loans. And 1 million homes in foreclosure equals about 200 Trillion in unpaid debts to the banks every over the world. And that Barney Frank Chuck Schumer and Chris Dodd blocked any attempts to regulate Fannie and Freddy by the Bush Admin or anyone else. But if you can name the deregulation that shows I'm wrong I'll admit it.

6 Jan 2009, 12:57 pm | click here to view more

Open Question: Help refinancing my home?

I bought my home in july @6.5% 195k loan. I received inheritance money and with the low rates I want to refinance. And receive my payment lower what is the best way to do this. Lowest payment most gain

5 Jan 2009, 5:54 pm | click here to view more

Open Question: Can't afford the investment property - what are their options?

I have relatives that purchased an investment condo in California for $300,000 which is now worth approximately $145,000. Unfortunately, they took out an Option ARM loan, which means their payment will go up in a few years. In fact, it goes up to an unaffordable level of payment. They've tried renting it out, but the price of rent will only make an insignificant dent to the mortgage payment (and I'm not counting Homeowners Association and Property Tax) Their top goal is to be keep/stay in their original home. It doesn't matter what happens to the investment property (short sell or foreclosure.) And obviously, unless they win the lottery, they don't have the extra $155,000 lying around to pay off the loan. (Who does?) I'm not a bankruptcy lawyer, so I would like to know to exactly what options are available to them? What are the key questions that needs to be asked to the bankruptcy lawyer? PS. This is a non-recourse state, and they have not refinanced. Plus, I frankly believe that the banks were stupid to loan out money to these people. Banks didn't do their possess homework. More info: The lender will not modify the loan unless they miss payments. They're barely making it right now, and I know they can't in the future based off the loan terms. Foreclosure is possible, but what does a foreclosure do to their primary home? Finally, what exactly is a deed in lieu? Details, please!

6 Jan 2009, 12:34 pm | click here to view more

Open Question: Is there any way for me to go to school?

I want to go to college more then anything in the world to provide for myself and my future family i would like to have. I went to beauty school when i was 17 and have a student loan i could not afford nor pay off because for 2 years I basically lived in my car. My life is in place now. I have a great job, stable home and ready to make something of my life. Im unable to receive financial aid to help with school because of my student loan and I dont think I can receive another loan either. I'm only 20 years old and feel like every i can accomplish is being an assistant manager for walgreens. do i have any options?? any advice would be great, or any jobs out there i may not have thought of that are a fulfilling and great career without a degree?? Help me!! Thanks I finished cosmetology school but was unable to receive my license because I had to miss to much school because I had to work in order to have a roof over my head and food in my tummy. so i went over my contract and had to pay an addition couple thousand dollars and by the time it was paid it was to tardy to go to the state board.

6 Jan 2009, 8:09 am | click here to view more

Open Question: Do you get he deposit back when you build a new home?

We have to put a 10K deposit down on our going to be build home. Do we receive this money back, can it be applied towards closing costs, or does it apply to the loan total. I will ask the building company but I am curious to find other non-salesman answers. Thanks.

5 Jan 2009, 9:30 pm | click here to view more

Open Question: Should I declare that I have been in a Trust Deed in my letter of sponsorship for Fiancee's Visa application?

My Fiancee' lives in Philippines, we have been in an LDR for 3 years and we plan to Marry in July (Yes, we have met on a number of occasions) every the paperwork is ready for submission to the UK Embassy in Manila, including my last 6 months payslips and Bank statements. Due to personal and financial problems three years ago, I took out a Trust Deed (an IVA) and this will arrive to and end in February. MY Finances, since 2008, have been healthy, I have take home pay of £2220 per month from my main job and other sources of income, I have a mortgage, car loan and tall my bank statements show that my finances are ok, (money at the end of the month, no overdraft, no bank charges etc etc, no money from public funds). I am unsure, however, if I should mention on my letter of Sponsorship that I have been in a trust deed (and include the letter that confirms its termination in Februray), or if the Embassy will look at the overall "picture" of my finances. I'm worried that informing them that I have been in a trust deed will compromise the Visa application, but on the other hand, if I don't mention it any detail, will that be regarded as being dis-honest ? every our other paperwork is exactly "by the book" and I'm just not sure how to proceed. Thankyou !

6 Jan 2009, 9:27 am | click here to view more

Open Question: Attended a career as a Medical Biller ?

name of School Career Colleges of America, south gate ca since finishing school i was send to do my externship at a place close my home. but i was never trained to do any billing only hospital clerk and i had call the school to look if they could tug me out because i was not trained to do billing or any medical billing... so i stay and they hired me as a hospital clerk. . i call the school to let them know that i wanted to look for another job. where i could advance and pursue my career.. since then the school is not helping me out at every .. what can i do.. my loan repayment will start soon. what can i do .. Can i sue.. .. am trying to update my resume but don't know what objective should i put i really want to pursue my career..

5 Jan 2009, 6:22 pm | click here to view more

Open Question: Can i get a loan to buy a home if i have a temporary legal work permit to work in the USA?

I am not sure bout the regulations but seems like only citizens and permanent residents can receive a loan to buy a new home. Please help

6 Jan 2009, 8:53 am | click here to view more

Open Question: Good credit, but no down payment...?

My credit score is around 750, I'm paying around 300 a month total in Education/car loans, have an income of about 5,000 monthly (before taxes), and completely pay my credit card bill every month... unfortunately I don't have a significant amount saved for a down payment because I have moved across the country a couple times and was making about half what I am making now.(I can probably have around 8-10k saved by the time I will be [hopefully] buying a home) I only just started researching today, but from what I can tell I have a few good things (credit score and debt ratio), and a few not so good things (tiny down-payment, 4 months at current job, high cost of housing in Baltimore/Washington area). I'm fairly handy, so I wouldn't mind having a place that needs some TLC... but I really have no idea yet what nice of options I might have (FHA, etc.) Thanks for your time, I would appreciate any input you might have.

5 Jan 2009, 7:49 pm | click here to view more

Open Question: What Do I Do??? Please Help!?

I had a horrible childhood and was taken out of my 'home' when I was 11. I lived with my pal's family until I was 18 (when I was transitioning into college and they decided to kick me out)... This led to me dropping out of college and now I owe over $5,000 for a loan I didn't even know I had and then another few thousand to FAFSA or something... I'm broker than broke and can't find a job anywhere. I was sleeping in my Jeep until it was stolen with every my belongings in it... luckily a few friends let me stay at their houses for a couple days at a time until I got intouch with my half brother... now I live here with him and my grandmother... I don't know what to do and I feel like my life is further down the sitter than it ever was. I'm not a negative person by any means but I feel stuck right now. I feel like every penny I make is going to be stripped of me for rent and loan payments... I'll never be able to open my bike store like I always wanted to. I've recently aged out of DYFS (not really, they just told me i did and made me sign papers) so they aren't helping me anymore. Idk what I'm to do with anything anymore. Someone please help!

6 Jan 2009, 9:09 am | click here to view more

Open Question: Applying for a loan for a second house.Can I put in the presumed income I will get renting out my 1st home?

I possess the home I live in right now. If I want to buy a second home to move into and rent out the one I am currently living in, how would I show this on a loan application? Currently my home generates no income since I live in it, but it presumably will after I move out. Will the fact that there's no previous income generated from this home hurt my prospects?

6 Jan 2009, 7:25 am | click here to view more

Open Question: H&R Block Emerald Advance SCAM?

I saw the advertisements every over, "$1000 immediately", whatever. My wife's cars O2 pump died and being short on cash after the holidays I went in to apply. I was approved for 2.9% on a 23K vehicle, needed the car to trade and didn't want to buy a new O2 pump, just wanted to toss one in from the yard; well, the junkyard does not accept credit cards. Back to the block heads. I qualify for the $7500 1st time home buyer tax credit. The tax agent ran my numbers and I am eligible for ~5K refund, which is chilly, it's been a while since I got money back. I know my credit is good, pulled my scores before I applied for the vehicle loan and I always have gone to H&R block. So, when every was said and done the agent's screen read that I am eligible for a whoppin' $350 today, minus the $45 annual fee! I declined, even though the offer was so very lucrative.

6 Jan 2009, 10:46 am | click here to view more

Open Question: what fees should I NOT pay for when refinancing my home loan?

5 Jan 2009, 9:25 pm | click here to view more

Open Question: How to lower my credit card payments?

Little background (I'll be brief)... 21 years old Full time student Lives at home Parents provide SOME support Total credit card debt over 6 cards: approx. $13,500 On the card with the largest balance ($4,500) I mistakingly missed a payment and my rate went to 29.99%. every other cards either have a high interest as well or are close to their limit. The question: Is there anything I can do to make my interest rates lower on the cards or lower my payments any way? I have a decent credit rating (around 615) and a somewhat good payment history. Perhaps, is there even a way for me to some how consoladate every my debt into one montly payment? I would adore to receive a loan from my bank for the amount, but would they even consider giving me one? Please help! Thanks! P.S. I don't know if it helps at every but I also have an car Loan with a balance of $8,000 that has kept my credit rating afloat because of good payment history and I have a good rate on that loan. Thanks again!

6 Jan 2009, 2:04 am | click here to view more

Open Question: Is this a possible solution to the financial crises?

I think we should allow home owners to take 2% of their 401k contributions to pay off princible of their home. The 401K's could be linked to the home loan. The balance in the account will be recorded like a cash fund. The bueaty it will not treat your earnings as income, since it is really just a asavings. The fund will have zero value but the government will want its tax money sometime. If you sell the home the money is put back into your 401k, or if you buy a new home can be transfered as a down payment to this. You can cap this at $1500 a year and 50K total. Once you pay off the loan the you can refinance for the amount in the "accounting fund". You can then invest in any fund as you look fit. You can do nothing with the taxes on the amount invested to be paid at the time of death. IE you can do nothing and when you die, if the amount you paid extra was 50K, it will be like you earned 50K that year. This is a way to eliminate debt increasing home equity, allow investers to earn (or really keep) a super safe 5-7%. It could inject billions into the banking system while making paper worth something as equity builds. I know some financial advisors will say it may not be the best investment as stocks may beat the return and the mortgage interest tax deduction. (the reason for limits) They will also point out at the end of the run you may not be able to tax shelter your entire mortgage payment. That is why the refinancing option is their. A safe 6% looks really good to most poeple. Owning your home is one of the kees to affording retirement. This is the reason for limits. You could also allow company matches to go into your mortgage fund. What do you think? It is like when you pay back your 401k, after you have borrowed from it. You would not pay taxes on that 2% you already contribute to you 401K' cash fund. Until you retire. That is why when you die your estate is responsible for the taxes. Or if you sell and decide to rent you would need to pay it back then with the money from the sale. That is why you cap it, the government will receive their money if you read it. It will actually balance out, the mortgage interest deduction will be less, you will have less earning to retirement. It is just a way to earn 5-6% risk free.

6 Jan 2009, 10:02 am | click here to view more

Open Question: I want to refinance just my 1st Mortgage?

I have a 5/1 Interest only loan. Resetting 09/2011. I want to refinance only my first mortgage from an ARM to a 30 year fixed. (It's currently $608K) I want to keep my second as is ($152K ARM) Due to declining home values, I have very little to no equity in our home. However, I just want to refinance the 1st (which would be plus or minus about 80% of my current home value). I have both loans through Wells Fargo. WF say they can't do anything unless I have 10% equity. So I'm looking around for ideas. I have: Good credit. No car payments. No student debit. No credit card debt. Any thoughts or other ideas. I'm glad to keep my 2nd as is. Just want to receive the $608K fixed at a low rate. Thanks

6 Jan 2009, 10:39 am | click here to view more

Open Question: Can you be denied an FHA loan with an auto repossession? Is this something an underwriter can overlook?

I am soooooo close to closing but the bank just happen to ask questions about my car repossessions. The bank was already aware of them during the process and asked for a "Letter of Explanation" in which I provided. This is the big wall that stands in the way. The loan officer at the bank is working with us. I just wanted to know on an FHA loan if this can be something that can be worked around through the Underwriter(s). I have had no contact with the banks from the repo's for about 2 years. I'm sure there is a deficiency balance. There were no payment arrangements made as I can no longer afford them. I got injured and my husband had to take unpaid leave for two months to take care of me, the kids, and the household. From every that we were behind three months on payment and couldn't catch up. The cars were repossessed. The Underwriters were trying to contact the bank (car loans) but aren't having any luck, neither did I. I wanted to know if there is another solution (other than going to a different Underwriter) so I can receive my home! I am soooooo close. I'll be very disappointed and very hurt if I don't ever receive to purchase my first home. My kids and I were excited until this happened. We have been through a lot last year and it's still following us. Anything helpful???? I forgot to mention that the cars had been charged off about 1-2 years ago. The bank that I have the home loan with is Wells Fargo.

5 Jan 2009, 9:08 pm | click here to view more

Open Question: Get answers from millions of real people.?

i want to buy a home after a foreclosure,how long will it's take me to receive a loans. i heard 3 years why so long. there must be other way to receive a home loans.

6 Jan 2009, 1:00 pm | click here to view more

Open Question: I want to refinance my home, however I am not working please help?

I possess a home and have a flawless credit score. With interest rates as low as they are I want to refinance my loan. The only problem is that I am currently not working. I was laid off last January and haven't found anything yet. My finance lives with me and he has been paying every of the bills. I can not add his name to the loan because his credit score is so low it wouldn't do me any good. I want to know if there is anything that I can do. I spoke to a few companies and they basically told me without showing steady income I can not refinance and If I add his name even though he has steady income my rate will be higher than what I have now. I was also told that I need to have 2 years of steady work history. My question is could I add my mom's name to the loan and say she is living with me and qualify for refinancing? She has good credit she is not working, however she has a pension and social security coming in each month. Anyway at every possible?

6 Jan 2009, 11:08 am | click here to view more

Open Question: Looking to move out, I think I figured it out, Help me!?

Ok, I am 18 years old, I have no debt, and Im still living at home. I dont have a job yet, but I am persistent with the applications to the 6 places I have applied for. My parent's have drained every of a $10,000 settlement I recieved for getting hit by a car in 2004 and everytime I receive a bit of money from relatives, they TAKE it. I have not seen a dime for any of my money so I think it is time to move out. I can work full time and juggle High school too. I have learned that every the jobs I have applied for make no less than $8 an hour, even on full time wages and limited hours (Say about 30-35) I can still make about $900 and Rent a room with every utilities and furnishing for $400 a month and still have plenty for other expenses. Now the difficult question. Should I receive a $2,000 loan? I would like to use the money to pay 2 months rent for the room and buy a car that is between 600 and $1,000 you know, something that will receive me to my job and school and everywhere else I will need to go in my tiny town. With every the income I will have each month after rent for 2 months do you think I can pay off the loan quickly? Is there any loan that will help me?

6 Jan 2009, 11:54 am | click here to view more

Open Question: can i get a car loan for 18,000 dollars?

I was wondering if it would be easy getting a car loan to buy a 2009 scion tc. im 18 make about 750 a month i still have my first job i ever had going on 3years i live at home and i only pay a cell phone bill i have credit cards but there payed off and my credit score is 651 so what are the chances of me getting the loan by myself? if i cant what other ways can i go about getting one? im going to put 2000 down and i also have help to pay for it o yea and i already have a crappy car a 1995 dodge neon ive been driving it for a year now not one ticket not one acceident o yea and i already have a crappy car a 1995 dodge neon ive been driving it for a year now not one ticket not one acceident

5 Jan 2009, 5:01 pm | click here to view more

Open Question: Has anyone else been ripped off by Affordable Home Assistance out of Costa Mesa, CA?

This company took our money over 120 days ago and doesn't even have the courtesy to deliver a call back. They say they do loan modification but my lander is yet to hear from them. Can someone tell me if they are aware of this scam or others like it. Thanks

6 Jan 2009, 12:21 pm | click here to view more

Open Question: Question Regarding Purchase of House "Subject to Finance"?

My husband and I put an offer on a home a week ago, "subject to finance". As far as I'm aware, this particular 'subject to finance' contract only forces us to buy the home if we are able to secure a home loan. Now, if the only home loan we were able to receive was at an interest rate of about 16% or similar - an unreasonable rate that we would never be able to afford - are we still obliged to buy the home, or are we able to waivor the agreement as we weren't able to meet the financial needs of the interest rate that was offered to us with the finance? I wish this makes sense?

5 Jan 2009, 7:06 pm | click here to view more

Open Question: I am recently married. I had a home mortgage before the marriage. Can I get a home loan modification?

The home is worth less then I paid. We want to move out of state but will not be able to sell for what we owe. I what to modify my loan terms to lower my payment so I can rent the home out. Will I have to consider my new husbands income in this process if I was the only one on the home loan?

6 Jan 2009, 11:41 am | click here to view more

Open Question: If the home my spouse purchased prior to our marriage goes into foreclosure, can I buy another home by myself?

My husband is the sole owner of our home. He is the only person listed on the loan documents, etc. If cease making payments on our current and allow it to go into foreclosure will I be able to purchase a home using my name alone? I am not concerned about the loan approval, but am concerned whether or not I must disclose the details of my spouse (including the foreclosure, his salary, etc.). We live in California. We can make our current mortgage payment, however, the value of our home has dropped dramatically but the payment has gone up. We are just seeing if there are any options available that would allow us to purchase a nicer home for less money than our current home.

6 Jan 2009, 1:16 pm | click here to view more

Open Question: How much will I get approved for a home loan?

I have no idea about loans or purchasing a home. Asking this question to strangers is about as far as I've gotten. I'm single, have a pretty tiny teacher's salary of around $30,000 a year, and have an excellent credit score. How much do you think I could receive a home loan for?

5 Jan 2009, 6:51 pm | click here to view more

Open Question: I was granted a temporary forberence on my mortgage. I was told that once the forberence period ends......?

my loan will be remodified and the amount not paid will be added to the loan. I had to take this forberence because of a job loss. I just want to know if anyone has done this or had any experience doing this. It makes me nervous because I do not have any intentions of losing my home. Anyone know about this?

6 Jan 2009, 9:23 am | click here to view more

Open Question: I have a loan with Countrywide and have a question. Should I pay my mortgage this month or skip a payment?

I applied for the National Homeowner Retention Program and was denied because I have not missed a payment or been delinquent. My financial situation is not getting better, and I am only able to afford the minimum payment most months, thus accruing more negative ammortization. I'm asking them for a loan modification, but apparently I have to have missed payments to have any hopes of this happening. So, my question to you is: Should I skip a payment or two, send them only what I can afford, or continue to send them at least the minimum payment and wish for a bailout? Has Countrywide helped you with your loan or helped someone you know? I'm starting to think I should be renting instead of owning because I'm not paying off anything on my home.

6 Jan 2009, 6:41 am | click here to view more

Open Question: "Statement of Service" for a VA loan?

I'm currently active duty Navy and I'm wondering who I should talk to about getting a "statement of service". The VA requires it for home loans. They say it needs to be signed by the CO. I'm pretty sure that I don't just walk up to the CO and ask him to sign my paper lol. I was thinking I should talk to the Legalman at the command? Does that sound right?

6 Jan 2009, 4:30 am | click here to view more

Open Question: Cancelling House Sale agreement?

Hello, Recently I have signed a sale agreement with a builder for 5 Lacs. They have taken the responsibilty for getting home loan for the balance amount. and promised us that the home will be built according to our wish. We have told them that if the bank loan is not sanctioned for the balance amount we will not be able to buy the property from them (But every these are verbal no written statements). Now it looks we wont receive the bank loan for the balance amount and the builder is not willing to bulit the home as per our wish.There is no clause in the agreement for any refunds or no notes for cancellation policy. In this case the builder says he spent some money for getting hosue plans approved so he wont refund the money. What is our situation now? How can we receive our money back?

6 Jan 2009, 12:51 pm | click here to view more

Open Question: what exactly is a first time buyers home loan?

and what are the steps you go threw choosing a home? like inspections and stuff, and the cost of those things? i live in pa. and i already have a agent. just wanted to look what other people say before i meet with him friday. i was pre-approved but they never mentioned grant money....they just said 3 1/2% down. help confused, am i being suckered?

6 Jan 2009, 11:47 am | click here to view more

Open Question: what are the consequences for walking away from your home in California? ?

My wife may be losing her job and if so, we will no longer be able to afford our monthly payments. Our loan company won't let us refinance either because we do not qualify for any federal programs and our loan is worth way more then our home value.

6 Jan 2009, 9:14 am | click here to view more

Open Question: Best Indian Bank to approach for Home Loan?

Planning for Home loan below 20 Lakhs. Which bank to approach? Nationalized banks like SBI, PNB, BOB, IOB etc Pvt Banks like ICICI, IDBI, HDFC or some other firms like LIC Housing Loans.. Let me know the positive points for your answers and also rate over banks on ease of getting a loan sanctioned

6 Jan 2009, 6:43 am | click here to view more

Open Question: How can I get financing to buy a larger home and keep my current as a rental?

I'm having a difficult time ignoring the free fall in housing prices and mortgage rates. Ideally, I would like to purchase a new home and keep my current home as a rental. Am I crazy? Could I never receive financing for this? Here's the situation: Current home, worth appx 275k, loan balance 220k. Financed with a 30 yr fixed at 5.25. Have successfully found tenants previously at $1550/mo, which cover P&I, Insurance and Property taxes with about $100 to spare. Household income, appx 120k. Little debt outstanding, other than car payment at 431/mo and mortgage on vacation property at 625/mo. Our target price for a new place is 300-250k. What we want is a larger home in the suburbs. I'm thinking we could reasonably put up to 10% down. Am I crazy to think we'd ever receive financing for this?

6 Jan 2009, 9:24 am | click here to view more

Open Question: Can I get a home loan with only two part time jobs?

I'm in Columbus Ohio

6 Jan 2009, 10:27 am | click here to view more