Is short sale the only way for me to move into another home quickly?
It does not appear that a short sale would be an option for you. Short selling is generally for homeowners that are upside down, and must ask the lender to take a discounted payoff so they can get out from under their debt and move. With 50% equity behind their loan, your lender would have no incentive to...

Reverse Mortgage Question
Assuming your reverse mortgage loan is FHA insured, moving out of the house does not automatically trigger maturity (the loan becoming due). The wording in your Note should read that the Lender may require immediate repayment when "All Borrowers cease occupying the Property for longer than...

Need advice on selling ot staying put.
I suggest looking at this from a worse-case scenario viewpoint - what if my home's value doesn't appreciate in the forseeable future? There is no guaranty that you are at the bottom of the market, or that values should start rising soon. Knowing that, what decision would you make today? ...

Where do I feel out the credit application?
www.americashtexas.com. Select apply on-line.

Here is my question : is it worth to refinance to a conventional ?
If your credit is decent and your home value is indeed close to $189k, it looks like it would make sense. You would eliminate the mortgage insurance payment and reduce your interest by over 1% annually. I am based in Dallas, and would be glad to offer a free quote. Contact me at 214-360-9991 or...

first time buyer still confused?
James, I would recommend getting quotes for both and comparing the two. Assuming you are putting less than 20% down, the FHA loan will probably have a lower interest rate but higher mortgage insurance cost, and the conventional loan will have a slightly higher rate but lower MI cost. FHA also charges an...

what is the standard waiting time for loan approval?
For my company, typically 30 days start to finish. Please let me know if you would like a free rate/fee quote.

my wife has a mortgage loan in her name but the house is in her parents name
It is possible to be a guarantor on a loan without owning the home (name on title). It sounds as if that is the case with your wife and her parents' home. My recommendation would be to talk to both lenders. Your options are limited, especially with the 2nd mortgage lender. They look at your wife as having...

my wife and I are getting a divorce. We have a reverse mortgage on a home in ala and she lives there in the house.
Most likely the reverse mortgage servicer will pay the delinquent property taxes and add it to the loan balance. Because non-payment of taxes is an event of default under the terms of the loan, they will expect a repayment plan. If the repayment plan is not met or if future taxes or insurance are left...

Why Reverse Mortgage Rates are different from money lenders?
Richard, interest rates for FHA reverse mortgage loans are not that different from rates on other types of mortgage loans. You can find adjustable rate reverse mortgage loans for 30-day LIBOR + 2.25% (currently about 2.45%). Fixed rates tend to be a little higher than 15 and 30 year mortgage rates,...

Can I get a reverse mortgage on a manufactured home?
William, manufactured homes are eligible for FHA Reverse Mortgage Loans. There are certain restrictions, as others have noted, and the foundation must meet FHA standards. I am a RM originator, located in Texas. Call or e-mail me for more information. gbarteau@americashloans.com 214-360-9991.

With 730 credit, 100 thousand joint income. What can we expect to afford for a house?
Here's a rough calculation: With maximum debt to income ratio of 45%, your current income of $8,333/mo will allow you about $3,750/mo in total debt. Subtracting two car payments leaves about $3,000 for housing payment. Housing payment will include mortgage payment plus property taxes, insurance,...

Mortgage for home in HOA
Linda, generally the lender only requires copies of the by-laws. And if they were to ever foreclose on the property, they would be subject to the same by-laws as every other property owner in your HOA. I suggest the lender contact the HOA directly and obtain a copy of the by-laws.

Best way to pay for garage attachmment?
Grayson, Texas home equity lending regulations make financing home improvement loans a little complicated, but you do have several options. First, would be a 2nd lien home improvement loan. There aren't a lot of banks that offer this type of loan, and your contractor would have to work closely with...

what can i do to get a home equity loan with poor credit?
680 isn't bad credit, in fact it's average. That score should qualify you for a home equity loan, up to 80% of the value of your house. Is there a default or previous bankruptcy that you think disqualifies you? Call or e-mail me if you'd like me to prequalify you. Gil at 214-360-9991, or...

I am looking for Texas home refinance 15-yr fixed rates
You can call me (214-360-9991) or e-mail me at gbarteau@americashloans.com. I can have a quote for you in 10 minutes.

can i go FHA for buying a condo?
looks like you got your answer, the condo must be approved. I'm a local lender call me at 214 360 9991.

Are reverse mortgage possible for mobile homes and the land?
Timothy, yes, a mobile home is acceptable collateral for an FHA reverse mortgage loan. Not all lenders allow it, but some do. There are some restrictions, such as age, how the home is affixed to the foundation, and if the home has ever been moved (other than from the dealer). I'm a reverse mortgage lender,...

What rate can I expect with 2 points? (for 750+ score)
With my company: 3.75% 30-YR Fixed Conventional, no lender fees, 2 discount points, APR = 3.948% This assumes a loan size of at least $200,000, rate/term refinance or purchase, owner occupied property, 30-day lock period. Please call me for more detail or for a Good Faith Estimate. Gil Barteau...

Curious about how much I could possibly get approved for
FHA loan requires 3.5% down payment, conventional loan 5%. Conventional loan will be less expensive in the long run as FHA mortgage insurance is no longer cancellable, meaning you pay it for the life of the loan. Assuming your income supports the monthly payments, you are looking at a home with a sales...