Through MortgageFit forums, the Community holds discussions on various issues that common people come across while dealing with professionals in the mortgage industry. The forum topics also highlight the knowledge and experiences shared by our Community

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

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Mortgage and Debt consolidation resources for people who are going through Mortgage and Debt Consolidation.

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

My house was foreclosed and sold in July (California). I had 2nd mortgage in the amount of $100K. Do I still keep paying for the 2nd? or is that included on the foreclosure? - [Read more]

Wish you all a very happy and prosperous 2009!!! Thanks, Sam - [Read more]

If I signed a Quitclaim Deed for a PAID-FOR time-share, had it notarized and given to (soon-to-be-ex) spouse, but spouse neglected to pay maintenanc fees, can I be garnished for back fees, or have my credit rating affected by this? According to the company handling these maintenance fees, they have andquot;forclosedandquot; and my name is still attached. I did not realize maintenance fees could be andquot;foreclosed.andquot; - [Read more]

Two years ago I do a quitclaim deed under the name of my son.If I stop to pay the mortgage. My son is responsible for the mortgage loan or not. And for how long I can leave in the house if I stop to pay. - [Read more]

I have had the same mortgage company for 7 years. In 2006 they paid my property taxes late, causing me to incur delinquent taxes ever since. I have tried for two years to fix that to no avail. I phoned them yesterday and they said they never received a tax bill from the county, then they said the county told them I owed no tax! Riiiight. I called the county and they did send the mortgage company a bill last October but never got a payment from them. Now, I get my annual escrow... - [Read more]

hello, we found a house, made an offer. The owner accepted and we had home inspected. Every good. We are on track with insurannce, finacinng, escrow etc. Expected to close in two weeks. Well tonight my realator called me with some bad news. Come to find out the owners have a second mortgage on the home and didnt disclose that. They already have another home and selling the vacant one. Apperntley didnt know the second mortgage was on the vacant one. So my offer wont pay off both mortgages. Im... - [Read more]

I am about to lose my home. I have a 2nd mortgage. They (2nd) tell me that I have to continue paying my 2nd mortgage even though I am losing my home and unable to pay my first mortgage. If its all connected to my home how can I pay one and not the other? I am hoping that my 1st Mortgage will be able to help me keep my home but it doesnt look promising. If I walk away from my home do I still need to pay the 2nd? This is all very confusing for me. - [Read more]

How long does the property need to be on the market before I can do a deed in lieu?...I submitted a hardship package to my lender in September and had another company agree to re-fi my morgtage for the market value of my home. I then got laid off at work and have not made a payment since November as the offer is no longer available. I want to do a deed in lieu and walk away. The lender already has all the paperwork and is aware of my job situation. Whats next? How long do I have before I... - [Read more]

I bought a townhome with an FHA loan 1 year ago. I want to lease the townhome I currently live in and buy a home nearby using a VA loan. Does the money I would get from the lease agreement on the townhome count as income to qualify for a loan through the VA? Thanks!! - [Read more]

I am trying to do a DIL for a propety I own. I have been trying for over 6 months. I have been told by the bank that an agent is working on my case, however to date no one from the bank has called me. It is always me calling the bank. Can I simply sign the deed over to the bank and mail it to them? - [Read more]

We recently obtained property through the local tax auction in our community in NY. We paid for the property outright, and received a quit claim deed from the county naming us as the owners. Do we need to do anything legally to sell this property as we hope to in the spring? Can it be sold on a quit claim deed? Does the quit claim need to be changed to a different type of title or deed? As I said, there is no loan involved, it is ours on a quit claim deed from the county, but wed like to sell... - [Read more]

Hello: I am in the process of refinancing my home. The conventional appraisal came in at $312,000, however the FHA appraisal came in at $325,000. Which amount is used to determine the maximum amount to borrow without being charged PMI? We are looking into a 15 year conventional fixed mortgage and FHA 15 year fixed, and want to borrow the maximum allowable before PMI kicks in. - [Read more]

Judge orders wife to act for both husband and wife in foreclosure and or sale of property with out need of signature or any other consultation with husband. Does the Husband have any recorse? Husband wants to keep property and use new laws and or policies to stop foreclosure caused by divorce and get wife off title. - [Read more]

Where can I locate a mortgage broker who specializes in physician loans that dont require a 20% down payment and do not require that you carry PMI insurance? I dont want to just google this because I could possibly get some unscrupulous lenders. Thank you. - [Read more]

A company in California is offering homes that are about to go into foreclosure by Quick claim deed and the person would simply take over payments. Is this valid in Texas or illegal? - [Read more]

I had a job opportunity and weve moved to another state. Our home has not sold, and were now 2 mos behind on both the 1st - 290K and 2nd 60K. Were trying to work on a short sale, at approx 320K. The home has been on the market for nearly 2 years now. We started at 485K. Home is located in CT, and we are now renting a house in NC. Any advice on the options? - [Read more]

my parents are buying a house in southern California with 20% down. They want put their names and my name as Joint Tenancy on the deed, but i got an accident in 7 months ago was my fault and i didnt have insurance. my question is if the people from the accident starting sue me in next few months and i am on the deed will i make my parents lose their house because i dont have job or money to pay their damages of their cars and medicals. is there anyway that i can avoid that? or i cant be on ... - [Read more]

My Fiance and I are trying to buy a home. We were told by our bank we will need a co-signer b/c my fiance is self employed and seen as a risk to the bank. His mother is willing to co sign. However, in NY State, and b/c its an FHA loan, her name would also have to go on title. I feel uneasy about this b/c I dont want ownership with anyone aside from my fiance/spouse, especially if co-signer can claim ownership on a home she never invested into. So when can we have the quit claim filed by... - [Read more]

I am looking for a small mortgage to finance a HUD foreclosure. My credit is not good as I have been a single parent for 12 years. I have no foreclosures or bankruptcies and I have kept my head above the line, but thats all. I get no response on my inquiries and am starting to feel defeated. Any suggestions? Lebryden - [Read more]

I hear everyone talking about they are late and you have to be late on your mortgage... when is it officially late? 30 days ? I have been 26-28 days late for several months now... wont my bank look at my payment history and see that we are struggling with this payment? - [Read more]