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Last news: January 1, 1970 00:00:00

I was trolling the internet yesterday when I stumbled upon this article...

Citigroup, Bank of America and JPMorgan are on Monday expected to announce plans for a fund to buy mortgage-linked securities in an attempt to allay fears of a downward price-spiral that would hit the balance sheets of big banks.

A person familiar with the discussions said that US banks collectively were expected to put up credit guarantees worth about $75bn for the fund, named the... - [Read more]

looking for lender for my home buyer with good credit. Not a first time home buyer. Was prev approved for a 80/20, a program that was disontonued. Do you have an equivalent program? William Moskowitz Nan Miller 609-882-2747 609-9770-9996 - [Read more]

Well you know that the sh*t has hit the fan when you have a Wiki article entitled "2007 Subprime Mortgage Financial Crisis". It was created back on March 15th of this year and has been updated quite a few times. Here is a snippet...

The subprime mortgage financial crisis was the sharp rise in foreclosures in the subprime mortgage market that began in the United States in 2006 and became a global financial crisis in July 2007. Rising interest rates increased the monthly... - [Read more]

Hello all, I have been negotiating a short sale with 2 lenders the 1st one is ready to give me an approval, I just call the 2nd and they are telling me that they forecloused yesterday. I asked who is in charge of the property they said that nobody that they closed and charge off the acct. Can you please tell me what can i do next, im very confuse. Thanks. Sair - [Read more]

Hi, I wanted to know if you could help me and my wife. We have an 80/20 mortgage with 2 separate mortgage companies and currently owe $245,461.01 on the first mortgage (at 7.3%)and $57,896.97 for the second mortgage (at 12.5%) for a total of $303,357.98. My problem is the houses on our street that are identical have sold recently for only $259,900 and we owe $43,457.98 more than we could even sell the house for. We are unable to pay both the 1st and 2nd mortgage due to our financial... - [Read more]

First off, sorry for the dual post - the last one ended up in the wrong forum... I currently have a home in AZ with both a first and second mortgage. I need to sell this house asap as I have had to relocate to another state and cannot afford to maintain these payments in addition to my new rent costs much longer. I have looked into renting the house out but cannot get enough in rent to cover the costs so that is not a viable option. With home prices down as low as they are and the market... - [Read more]

Our 30 year fixed rate mortgage is due next April. Weve always payed our payments on time and have never had any problems. We wre really looking forward to finally completely owning our home and being through with the payments. Then for whatever reason we decided to do the math. We found out that there is NO WAY our loan will be paid off by the final payment date. We will still owe several thousand dollars. We found out that for all these years, the mortgage provider has been under billing... - [Read more]

Well that is what they are saying over at Daily Paul...

I emailed my deadbeat congressman requesting he move on this. It just makes too much sense. Allow our 401k $$ to be used to pay down/off mortgages, saving consumers hundreds of thousands of $$ in interest, freeing up monthly $$ for investing or consumption. They need to take away the taxes and penalties so we can do this. It would:

1. Help homeowners to save themselves in... - [Read more]

This one is a very good video explaining haw can you avoid foreclosure when you get behind your mortgage payments or if you think you cannot afford it any more. Hope this helps. - [Read more]

Well I am soon to be closing on my first home and I was informed in a good will estimate from the mortgage company that my mortgage payment including taxes will be $979 a month, the reason why is because my taxes are non-homestead and are fairly high at nearly 4K per year. I was told that the homestead will kick in next year and it will lower my taxes significantly. Anyhow, I currently bring home around $550 a week, after taxes. My current monthly debt, not including the mortgage and... - [Read more]

About 4 years ago my fiance and I of 3 years decided to marry and buy a house. Then our realitor told us I had to sign a quick claim in order to be approved by the mortgage co. Now I need to go about having my name on the house as well, can it be done? - [Read more]

How do you add someones name to a title using a quit claim deed keeping the grantors name on the title as well? My aunt is very ill and we need to sell her property in Florida in order to help pay for her nursing care, but we want to keep her name on the property until it sells due to the homestead tax credit she gets as a FLA resident. So we just want to add my dads name to the deed in order to enable him authority to work with a realtor in FLA. (we live in Michigan). Thanks! Amy - [Read more]

i am remarried and i want to add my husband to the deed. we do have a small loan against the home but it is in both of our names. so if i do a quit claim , will this add him as the second owner? and i will still be on the deed? or what form do i have to fill out? i just dont want something to happen to me and him not get the home... thank you - [Read more]

My father passed away six years ago. We still pay the loan but it is not in my name. My name is on the deed. Can I have my name added to the loan? - [Read more]

My husband and I bought a house in December. Because of a judgment on my credit report, and the difficulty getting a mortgage nowadays, the house was put only in my husbands name. I finally cleared the judgments off all 3 credit bureaus. My Fico score is very good. How can I go about putting my name to the house? Does anyone know what costs are involved? Do you refinance?..............our loan is at 6%now. - [Read more]

I live in NC. I want to add my name to the title of the house that my sister has in NC. Where do I find this form andamp; how do I register it? Thanks. - [Read more]

My husbands father put our house in his name because we are unable to qualify for a mortgage due to credit issues. We signed a quit claim deed that says as joint tenant with the right of survivorship. He is not doing to well healthwise will the bank take our house from us if he dies? We paid for everything for closing, lawyers, mortgage payment, repairs, etc. He just put the house in his name because he has excellent credit. Probably not the best time to be asking this question but I am... - [Read more]

I will be losing my home to foreclosure here in Florida in a few days. I am way behind in my payments and I owe way more than the property is worth. In this state I know that the lender came come after me for a deficiency judgement. My question is does a lender always come after a borrower for a deficiency judgement? I am also the sole provider for three dependents. Thank You for any information. - [Read more]

Shop for loan andgt; Get Pre-Approve letter andgt; Shop for Home andgt; Sign Contract for home, put Earnest $ down andgt; Do Home Inspection andgt; Send documents to bank including buyer contract andgt; NOW WHAT???? I dont know what else to do. Im a little worried because I feel Im not in control. All the documents are sent to the bank. I was told I dont even have a person to handle my loan and only a department for now. A live person will work on my account for 25 days or so then let me... - [Read more]

We both have excellent credit scores: 799 and 757, stable jobs with good income, 80k in the bank...looking to purchase a home for 434,000 in VA (desired area) with only 5% down (we can put 10% down but we rather leave it in the bank), and we want to avoid paying the PMI. We just spoke to a lender yesterday, and he said that this is going to be a problem, despite our credit score and income. He gave us a good rate for a 90% loan without PMI. My question is: should we keep shopping around, or... - [Read more]