Refinance With IRS Issues?
You will most likely not be able to refinance unless the mortgage company (your new lender) is willing to be placed in second position (behind the tax lien) in the event of foreclosure. In this tough lending environment, your chances of refinancing without paying off the tax lien are very unlikely. ...

Should I refine my condo with low interest rate but higher pmi?
This would very well depend on the type of loan you're currently in. If you're with Fannie Mae or Freddie Mac, your MI will not need to change under the HARP program. Also an option is to go through a Lender Paid refinance. This will offset having to pay mortgage insurance, for a bit higher of a...

Is it at all possible to get a mortgage with a credit score of 550 or less
You can refinance through a FHA program which accepts much lower credit scores. You can also look in to credit repair companies that can remove any possible collections that may be hurting your credit. I have repaired borrowers credit scores greatly in order to qualify for a refinance. To find out more,...

Is there a new refinance program to help homeowners with private, non-government bank loans
There are not many options available for you once your loan to value is over 100%, if your loan is not backed by Fannie Mae or Freddie Mac.If it is backed by the FHA, they will be rolling out their own version of the Homes Affordable Refinance Program sometime in June. Give me a call at (858) 605-0481 if you...

Does HARP 2 offer better rates also or just allows high LTV loans
They are just as low as your A-Paper conforming rates, but they will not be any lower. Rates can vary depending on your loan-to-value, however there is no LTV cap, and the appraisal is wavered in nearly every instance. If you need a quote for comparison, we'll be very competitive. You can reach me at...

Does HARP refinance of an Underwater House add PMI payments on top
This is tough to answer right now. HARP and HARP 2.0 are both the same programs to my knowledge. They have only just extended the guidelines more over the original program. What you are going to want to keep a look out for is the HARP 3.0, as it will allow non-government sponsored entity loans to qualify,...

HARP after Loan Modification is that possible
Wells Fargo and other major banks are always much quicker to turn away people, I would suggest trying a broker and having him/her look in to your situation. Usually if it doesn't show on your credit, you should be able to still refinance. It's always much smarter to try a broker first, as they...

what is a principal reduction program?
The Principal Reduction Program ("PRP") is a federally-funded program that was designed with the intention to provide capital to homeowners that have suffered a hardship. It was developed by CalHFA MAC and will work to reduce the outstanding balances of those properties that qualify...

When applying for a mortgage, do lenders consider gross income or take home?
The lender will look at your gross income what you make before any state and federal taxes are taken out.

Can the money from an FHA cash out refinance be applied toward anything?
You may do anything you wish with the money you obtain from you FHA Cash Out Refinance.

What type of loan would be best for a home under 50k with a low down payment?
FHA loans require a low down payment, so that may be the loan program you would want to look in to. If you have about $2,000 saved for a down payment that will be sufficient for a $50,000 home funded through an FHA loan. USDA is another option if you are in a designated area. Finally, if you qualify for a VA loan...

was turned down for harp 2.0 my score 750 but spouse was under 620
We would recommend re-applying as Paul suggested since your spouse's credit score may be the reason for the decline. Feel free to contact us for advice or to see if you qualify at 858-605-0952. We are a brokerage based in California.

Should I apply for a refinance before or after I retire?
It would be wise to refinance prior to retirement (and with rate currently at record lows) because your income is one of the factors in determining if you are qualified for a refinance and at what rate.

Will I be able to secure a mortgage in one state if I'm currently employed in another?
Yes, the mortgage loan would have to be originated by a mortgage professional licensed in the state the property is located in though, rather than the state you are living in.

Who pays for closing costs during a short sale?
In most cases the buyer does. It would be in your favor to negotiate that the seller or lender pays for the closing costs.

Can I give my daughter a down payment of $50,000 on a FHA loan without having to wait 2 months for the loan to go through
There is no waiting period if you gift money for the down payment. However, be sure to properly document you gift including a gift letter and bank statements showing where the money came from.

Can I refinance through HARP if I already refi'd the mortgage?
You can only take advantage of the HARP if you purchased or refinanced the loan prior to June 2009. If it was before June 2009 and you meet other qualifying factors, you can refinance with the HARP.

i make 25k and have a 740 credit score can I buy a house
There is a number of factors in addition to your credit score and income that will determine your eligibility to purchase a home. Other factors you want to take into consideration is your debt-to-income ratio, the price of the home you are looking to buy and how much of a down payment you have. Talk to a...

can i get reverse mortgage if my home is paid off
Yes. As long as you meet the qualifying factor of being at least 62 years old. The more equity you have built in your home, the better for a reverse mortgage. Please let us know if you have any questions!

Can I still shop around for rates if i've gotten preapproved?
Yes, you can shop around for rates after being pre-approved. However, if you have already submitted your documents to one lender and they begin working on your file that can be unfair. A tremendous amount of work goes onto processing your loan and the lender is not paid for the work until after it is...