Mortgage Brokers, Bankers, Anyone.Help! I need to refinance my house?
Superwoman22 asked:
I need to refinance my house. I don’t have a real reason except I want to take my mom’s name off of my debt. When I got the loan, she helped my by signing with me. I am not a rip off daughter or anything like that. She helped me to buy my first house because I needed another income (preferably someone with good credit). I buy my mother groceries every month, pay her utility bills, give her gas money. She pays her own mortgage but she has two of them for some reason. She now wants to refinance her house so she can have one lower payment. She went to Wells Fargo/Wachovia who operate so differently than a broker who can deal with unique situations. He told her that I needed to refinance to take her name off. I will be glad to do that because she was only helping me. My house is a 225,000 house so now I am afraid that my debt to income wont allow me to refinance with taking her off because I wont qualify. My credit has also gone down about 90 points since I bought the house, with no new debt. Is there anything that can be done? I am going to offer my mother to pay her second mortgage for her (its an 80/20) until we can get everything figured out. If I can’t qualify for the refinance, will they take the house from me? What can she and I do about this if anything? I want to help my mother as much as possible since she is the reason I have my house. Please answer seriously. Thanks
DARREN
I need to refinance my house. I don’t have a real reason except I want to take my mom’s name off of my debt. When I got the loan, she helped my by signing with me. I am not a rip off daughter or anything like that. She helped me to buy my first house because I needed another income (preferably someone with good credit). I buy my mother groceries every month, pay her utility bills, give her gas money. She pays her own mortgage but she has two of them for some reason. She now wants to refinance her house so she can have one lower payment. She went to Wells Fargo/Wachovia who operate so differently than a broker who can deal with unique situations. He told her that I needed to refinance to take her name off. I will be glad to do that because she was only helping me. My house is a 225,000 house so now I am afraid that my debt to income wont allow me to refinance with taking her off because I wont qualify. My credit has also gone down about 90 points since I bought the house, with no new debt. Is there anything that can be done? I am going to offer my mother to pay her second mortgage for her (its an 80/20) until we can get everything figured out. If I can’t qualify for the refinance, will they take the house from me? What can she and I do about this if anything? I want to help my mother as much as possible since she is the reason I have my house. Please answer seriously. Thanks
DARREN
Which day of the month should I refinance?
Brian B asked:
Does it matter what day of the month you close on a refinance loan? I just paid my mortgage payment for the month of March. However, I if refinance and close on March 10th, would that mortgage payment get prorated and would I get some of it back?
NEAL
Does it matter what day of the month you close on a refinance loan? I just paid my mortgage payment for the month of March. However, I if refinance and close on March 10th, would that mortgage payment get prorated and would I get some of it back?
NEAL
What would be best for our family in an out-of-control ARM mortgage in a declining neighborhood?
Lisagee asked:
We are a family of four (2 parents, 2 kids ages 12 and
and we live in Flint. We have lived in our 1100 sq. ft. home for 13 years now. We need a bigger house and we need to get out from our ever-rising ARM mortgage rate. We’re with a terrible mortgage company who we refinanced with several years ago to pay off debt. Now the property values in our city have declined. We didn’t borrow more than the value of the house; but IF we could sell our home, we may just break even. We barely make enough to make ends meet and certainly can’t save anything. We asked our mortgage co. if they could lower and fix the rate but they said they can’t do anything until we’re behind in our payments. Should we let it get behind so they’ll help us? We also have other debt we need to get paid off but can’t afford to with our out-of-control house payment. The house needs a roof, windows, plumbing and a bathroom overhaul, which, of course, we can’t afford. We’re drowning! What should we do?
LEVI
We are a family of four (2 parents, 2 kids ages 12 and
and we live in Flint. We have lived in our 1100 sq. ft. home for 13 years now. We need a bigger house and we need to get out from our ever-rising ARM mortgage rate. We’re with a terrible mortgage company who we refinanced with several years ago to pay off debt. Now the property values in our city have declined. We didn’t borrow more than the value of the house; but IF we could sell our home, we may just break even. We barely make enough to make ends meet and certainly can’t save anything. We asked our mortgage co. if they could lower and fix the rate but they said they can’t do anything until we’re behind in our payments. Should we let it get behind so they’ll help us? We also have other debt we need to get paid off but can’t afford to with our out-of-control house payment. The house needs a roof, windows, plumbing and a bathroom overhaul, which, of course, we can’t afford. We’re drowning! What should we do?LEVI
Refinancing a mortgage loan? But the bank is no where near me?
I love the flipflops asked:
My mortgage loan is about to be sold to Chase and my payments will begin to be made payable to them next month. I would like to refinance but I live in a very rural area and there is actually not a Chase within 200 miles from me.
My mortgage loan is about to be sold to Chase and my payments will begin to be made payable to them next month. I would like to refinance but I live in a very rural area and there is actually not a Chase within 200 miles from me.
Can I refinance with them without being close to them? Would that be a hassle? Also I have an appraisal from about 3 months ago, can they use that appraisal or will they use their own and how will that work since I am so far away?
PAT
Why would my ex-husband’s mortgage company be asking for my refinance loan papers?
shasta asked:
My ex-husband is trying to purchase a house. When we divorce we agree that I give him a settlement. He got the settlement. Now, his mortgage company want to see my refinance papers to make sure that I really gave him the money that they see in his account. I told him that I will not give them my personal information, but I will give them a copy of our stipulations and agreement papers which are notorized and signed. If they are not satisfied with this, then I can’t help them. What is the big idea? It seem like when you divorce someone you can’t get rid of them.
But, my personnel refinance papers with my personnel information on it. I do not trust that company anyway because my mom had a loan with them and her identity was stolen.
SHAWN
My ex-husband is trying to purchase a house. When we divorce we agree that I give him a settlement. He got the settlement. Now, his mortgage company want to see my refinance papers to make sure that I really gave him the money that they see in his account. I told him that I will not give them my personal information, but I will give them a copy of our stipulations and agreement papers which are notorized and signed. If they are not satisfied with this, then I can’t help them. What is the big idea? It seem like when you divorce someone you can’t get rid of them.
But, my personnel refinance papers with my personnel information on it. I do not trust that company anyway because my mom had a loan with them and her identity was stolen.
SHAWN
What would happen with my house if I stop paying the second mortgage which I can’t afford?
Yovany asked:
I can only afford to pay my first mortgage and I can’t refinance the loan because of the decreased home value and bad credit.
MALCOLM
I can only afford to pay my first mortgage and I can’t refinance the loan because of the decreased home value and bad credit.
MALCOLM
Am I protected under the anti-deficiency statute law in California if i defaulted on my mortgage?
REEMPIRE888 asked:
I’m one of those unfortunate homeowner who purchased a home during the boom and also got one of those adjustable mortgage. I’ve been paying my mortgage on time and am not behind on my payment whatsoever. But my payment will start adjusting in a few months and the value of the house has taken a dip and I was told if I want to refinance my current mortgage, I would need to come up with the differences in order for my bank to refi. So my question is this, if I’m not able to come up with the money does that mean I cannot refinance? Am I **** outta luck? I’ve been responsible for my debt and I got screwed over my loan because my former loan officer did not disclosed those critical terms and loan details. On the closing day at the escrow office, my former loan officer wasn’t even there at the signing. She told me just show up and sign the documents and I was naïve and I did it. Do I have a case against this loan officer if I plan to sue her? The bottom line is, if I stop making payments and eventually foreclose the house, does the bank has the right to come after me for the differences that didn’t satisfy the loan because of the anti-deficiency statute in California? Am I protected under that law? The house is my primary residence and it has never been refinanced. My current loan is an 80/20 piggy back loan, with a 2yr fixed/adjust every 6 months. I’m just worry that the bank will come after me for the differences if I do foreclose on the loan. Any suggestions? Ideas? Alternatives? Is there any way I can avoid foreclosure? Any government agency I can turn to for help? I’m very stressed out so please advice! Thank you!
BURT
I’m one of those unfortunate homeowner who purchased a home during the boom and also got one of those adjustable mortgage. I’ve been paying my mortgage on time and am not behind on my payment whatsoever. But my payment will start adjusting in a few months and the value of the house has taken a dip and I was told if I want to refinance my current mortgage, I would need to come up with the differences in order for my bank to refi. So my question is this, if I’m not able to come up with the money does that mean I cannot refinance? Am I **** outta luck? I’ve been responsible for my debt and I got screwed over my loan because my former loan officer did not disclosed those critical terms and loan details. On the closing day at the escrow office, my former loan officer wasn’t even there at the signing. She told me just show up and sign the documents and I was naïve and I did it. Do I have a case against this loan officer if I plan to sue her? The bottom line is, if I stop making payments and eventually foreclose the house, does the bank has the right to come after me for the differences that didn’t satisfy the loan because of the anti-deficiency statute in California? Am I protected under that law? The house is my primary residence and it has never been refinanced. My current loan is an 80/20 piggy back loan, with a 2yr fixed/adjust every 6 months. I’m just worry that the bank will come after me for the differences if I do foreclose on the loan. Any suggestions? Ideas? Alternatives? Is there any way I can avoid foreclosure? Any government agency I can turn to for help? I’m very stressed out so please advice! Thank you!
BURT
want to know about refinancing my mortgage?
kdube151 asked:
Owned a home for over a year now interest rate at 6.125 with a little more than 30,000 in equity in my home, would like to know what the process is for refinancing my loan, how much will it cost and if it will save me money, if anyone has recently gone through a refi please tell me about your experience! THANKS!
YOUNG
Owned a home for over a year now interest rate at 6.125 with a little more than 30,000 in equity in my home, would like to know what the process is for refinancing my loan, how much will it cost and if it will save me money, if anyone has recently gone through a refi please tell me about your experience! THANKS!
YOUNG
what is the mortgage payment on a 300,000 loan?
Gorilla Mike asked:
At today’s current interest rates (fixed rates), what would be my monthly mortgage payment on a $175,000 mortgage, and a $300,000 mortgage (refinance/second mortgage). We are currently coowners in the house and want to buy the other siblings out.
ELWOOD
At today’s current interest rates (fixed rates), what would be my monthly mortgage payment on a $175,000 mortgage, and a $300,000 mortgage (refinance/second mortgage). We are currently coowners in the house and want to buy the other siblings out.
ELWOOD
Quitclaim signed with ex 8mos ago. She cannot get financing or pay mortgage payments. Can I void the claim?
Mike M asked:
She tried to sell the property, but has not been able to. The mortgage remains in my name, and she is unable to obtain the financing to refinance the mortgage and take over the loan. Now I want it back due to her negligence. What options do I have? Can I void the quit claim since she has not met the intent of the claim?
DORIAN
She tried to sell the property, but has not been able to. The mortgage remains in my name, and she is unable to obtain the financing to refinance the mortgage and take over the loan. Now I want it back due to her negligence. What options do I have? Can I void the quit claim since she has not met the intent of the claim?
DORIAN