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

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To remove one owners name form a house title, which deed form should be used? Two sisters have names on the title right now. One sisters name needs to be removed. - [Read more]

I own a house as my sole and seperate property. I want to prepare a quitclaim deed transfering the house to my current spouse and adult son to be recorded after my death. Is there a problem with them recording a quitclaim after my death. I live in Nevada. - [Read more]

My spouse and I separated. I signed a quitclaim for our home in VA over to her and moved out at her request. I should have done some research on the ramifications of the quitclaim before I signed, but I didnt. My spouses mother pushed the quitclaim, my moving out and used her attorney to draw it up and notarize it (all in the course of about 48 hours from the time we decided to separate). My spouse agreed that she would refinance the house after we were offically divorced (which takes 6... - [Read more]

two people are not married and have gone separate ways, can a quit claim deed be used to remove one party from the mortgage? - [Read more]

I am a female that was in a relationship with another female. We bought a house together 7 years ago. I found her cheating on me back in June of 2007. In Nov 2007 I stopped paying my half of the bills and moved out of the state. I have been trying to get her to buy me out or sell the house but she kept giving me the run around. She can not afford to buy me out and I do not want the house so I asked her to put it up for sale. She wouldnt so I had to threaten a Partion Lawsuit. She finally... - [Read more]

I am a home inspectpor. Local mortgage underwriters want a summary list of deficiencies that must be repaired before closing. Some rely on appraisers to provide the list. With conventional mortgages, it is unclear which deficiences to put in this list. Different underwiters and appraisers seem to have different standards and pick and choose deficiencies. Is there any andquot;standardandquot; to assist everyone with development of the list of required repairs? - [Read more]

I need a reverse mortgage on a second home . I have heard that they are now available ,however how do I find who is offering it? - [Read more]

If you are unfamiliar with reverse mortgages, the following article should help clarify things:

Foreclosures are up, and it looks like they wont be coming down anytime soon.

Troubled homeowners have a few options to stave off foreclosure, and Congress is looking at creating others. But older homeowners, age 62 and up, for years have had a tool thats sometimes overlooked: a reverse mortgage.

This allows you to take out a loan against your home to pay off... - [Read more]

I am sure that by now you have heard of Reverse Mortgages, but do you exactly understand what they are? If not, the following article should help you out...

Reverse mortgages used to be a way for homeowners to get extra cash during retirement. Now theyre also being used for a more-pressing purpose: helping people who are struggling to meet payments on high-interest-rate loans to keep their homes.

The strategy, which is relatively novel but gaining popularity among... - [Read more]

The story is a bit long but I will give you the short version. My Grandfather bought a home for my mother before he died. He paid for it in full so the home was free of any debts, mortgages, etc. This is in the state of Florida. In 2003 my grandfather dies and leaves a bunch of credit card debts to my grandmother. My grandmother and one of her sons decide that my grandmother should ask my mother to put my mothers debt free home on her name so that she can take out a $100,000 and pay off... - [Read more]

First time home buyers. My boyfriend has the better credit, I have a sligtly higher income. My employment has been steady (same job) and income has increased steadily over 4 years. My boyfriend held a sales job for 2 years, then for the past year has worked for the IRS as a Seasonal Employee. Im concerned that theyll view his seasonal employment as unstable (especially since hes only been at it for a year) and took a big pay cut when he left his previous sales job. What are our chances of... - [Read more]

Seasoned Trade Line Provider Welcome to Real Credit Trade Lines !!! Authorized Users Are Back !!! Call Now 304-727-5567 We Deal Directly With Credit Bureaus We can report real Aged Trade Lines to your credit report.These accounts are not Authorized User Accounts, they are yours.The Trade Lines that report to your credit are all open ,active accounts with a minmum of 2 Years positive payment history. There is no credit repair agency, A/U credit reseller, or credit restoration company that can... - [Read more]

Hello Joshua,my wife and I live in Calif. she is 65 and I am 67,we are both on SS.We own our home and are making monthly interest payments.However it takes all that we get and more.Can we quitclaim 1/2 interest in our home to our son so that he can pay 1/2 the monthly payment? He would like to be able to use the interest as a write off. Thanks...Jerry - [Read more]

I had my house six years before I got married last year. Is this my separate property or is it half my wifes property too? I live in Texas. - [Read more]

While reading over at Money Central I saw this article which caught enough of my attention while drinking my coffee...

The worst of severe rating cuts of collateralized debt obligations tainted by U.S. subprime mortgages is probably over and 2008 should begin a "healing process," a senior director at Fitch Ratings said.

Deteriorating value of U.S. subprime mortgage debt has resulted in $67 billion of rating cuts of... - [Read more]

4 months behind, my property is in California and is listed for sale. My agent is negotiating for a short sale, but no response yet. But i already moved to an apartment to avoid embarrassment if lender forecloses. What is the ruling if you have two loans and how will the proceeds will be allocated to satisfy both lenders? If the canceled debt be taxed? Can they run after me if second loan was not fully settled? Appreciate any response. God bless Be - [Read more]

Before filing bankruptcy or should I file now even though not late yet. But probably will be late starting next month. - [Read more]

Should we wait to transfer the property to our names till after we build on it?...my fiances parents would like to give us proptery they bought a couple of years ago so we can build a house on it. The property is in New Jersey and we have not started to build on it yet. What is the easiest way to get this done? Should we start building before this is completed? - [Read more]

In early 2007 my ex- husband decided he wanted our house sold and the court ordered us to put it on the market. It has so much pest damage that it wasnt selling. Because the house wasnt selling, my ex then decided he wanted to buy out my part of it from me. As of August 18, my ex and have a court order for a settlement offer for him to buy out my part of the house from me. He tried to get a loan and found out that he couldnt get enough money to pay off his bills plus buy the house from... - [Read more]

1. Are lenders willing to accept short sales eventhough you are not beheind on payments...but may in the near future?? 2. How does the closing cost work in a short sale?? Does the seller need to pay out of pocket for closing?? Do Agents still make thier 6%?? - [Read more]