Type a question herAfter the death of my mother five years ago, my father created a life estate with me as remainerman. The house currently still has a mortage. What happens to that mortgage should my father pass away before the house is paid off? Would I be able to make payments out of his estate, or would the mortgage company demand full payment right away?e to get started
HI WendyAnn,thank you for such an interesting question! This sounds like a question probably better suited for an estate attorney, however, from the mortgage side of things my best guess would be you are always free to continue to pay the mortgage obligation. Ultimately, the mortgage company...

What is the highest Loan to Value for REFI these ddays?
Greetings Saleem! Good answers below. I would add that on the 105% LTV Fannie Mae DU or Freddie Mac Open Access loans you 'can' re-subordinate a 2nd mortgage to a new refinance if the 2nd mortgage company is agreeable to that.I have successfully accomplished this, although it did take some...

Does a second mortgage affect my abilty to refinance?
Greetings,I agree with LoanMonarch's answer below. I am a local lender in MI and have done some refinances where the 2nd mortgage has re-subordinated to the first mortgage. They were tricky and took some time; but in the end was worth it as the borrowers saved hundred's of $ monthly.If you...

Equity Loan, Refinance, 2nd Mortgage... What should I try?
Hi Ginger,As mentioned, how much your house is currently worth is the key variable here. and then comparing how much you still owe with how much the house is worth. For example, if you owe $90,000 and the house is worth $100,000 then you will probably not be able to take any 'cash out' of the home. ...

first time buying a house what shud i expect for closing costs?
Hi,Thanks for the inquiry. Please give me a call at 734.669.5880 and I'll be happy to answer any questions you may have. Best regards,Bill HolmesPresidentAnn Arbor Mortgage

HARP 2.0 DU Refi Fannie Mae: can a co-borrower (spouse) be removed without death or divorce? My loan officer insists not.
Not that I am aware of.