Credit question
I agree with Bert's comments above - collections will stay on your report for a minimum of 7 years, and after 2 years have NO impact on your score. However when the title company does an unpaid bill or open collections search. This type of debts left unpaid can be taken to court and a lien placed on the...

Am I being scammed?
http://www.skylinefinancialcom.comThere website above - see they have been around less than a year, Google found no complaints. 2% for $8,000 is a very low rate. What is the $395 for? Is this a loan origination fee? If you pay them, do so via check so you have bank proof you paid them. Before 90 days if...

Are there any HARP 2.0 lenders who will work with someone in Chapter 13 Bankruptcy?
What are you looking to do? To purchase a new home, you not going to get to far. If your looking to lower your payment , staying with the same lender, your may qualify. What needs to happen - prove your mortgage, insurance and taxes payment combined needs to be higher than 31% of your monthly gross income. ...

My score is about 550, is it possible to get a mortgage?
I like Bert's working with someone preparing a plan to resolve your credit issues. How much are you looking to take out? Step one get a copy of your credit report. Work on disputing negative things off. Work on cleaning your credit yourself, to qualify for a personal loan at your local back. Another...

Refinance on FHA Loan
Have you talked to your bank about doing an FHA stream line refinance? I do not know your situation, played with the numbers possible savings around $400+ per month. Right now FHA 30yr interest rates are around 3.75%. Lowering your rate on your principle is easy to understand equals a lower monthly P/I...

HARP denied because of modification on other property
My firm has complete over 4000+ mortgage modifications nationwide - question how you got a HARP modification on an investment property? Prior to a couple of months ago - modifications on investment properties; banks were only restructuring, putting arrears at the back-end of the loan with no...

non-recourse loans
In in your state CAL. CCP. CODE ? 580b : California Code - Section 580b, on "Purchase Money Loans", are non recourse loans. Only after financing, the loan is no longer call a "Purchase Money Loan", and can be subject to recourse. I am truly amazed at the answers above....

I want to refinance my mortgage but do not qualify for any government assisted programs
What are your current loan terms? Interest rate? Loan amount? Call BOA and ask about a streamline refinance. Minimum closing costs, no out of pocket expenses. 30yr @ 3.875%, 15yrs 3.375%. In my opinion staying with BOA for the short term future is your best bet. Possible one to two years you could consider...

Is there anyone who will lend money to the unemployed in Fort Smith, AR or to an illegal alien who is employed?
I agree with Bert - your situation doesn't pertain to a mortgage. For your boyfriend he is S.O.L. because he is an illegal alien, he could however ask his employer for a loan. If his employer is smart, realizing for could get into a lot of trouble buy hiring non-legitimate workers, he could provide some...

Is there a new law or tax implication ie. 1099 in 2013 if you sort sale or foreclose?
The Mortgage Forgiveness Debt Relief Act of 2007 is scheduled to expire on December 31, 2012, so short sales need to close by that date to qualify for a substantial tax benefit. If this act is not extend people who short sell their home in 2013 will need to include the mortgage debt forgiven by lenders as...

In Redemption ,,this was not the plan all I wanted to do was to reinstate the loan
Kimberly,I am with a Mortgage Attorney firm - depending on the state you are in it may be possible to save your home after the foreclosure. Since the old loan is closed with BOA, you have to qualify with another lender to pay the balance in full if you want to save the home. Another option is have someone make...

If my house is being foreclosed, is it too late to sell it?
Judicial states require the lender to go through the courts system before your home is foreclosed upon. However in non-judicial states the time is much shorter. See your in Florida, you may have time since your state is Judicial. As far as your credit (which is not a priority) - it is already damaged...

When can i rent out my FHA home?
You have to live there for a year before renting it. If you rent out the home before that and the FHA finds out, you may have to pay a fee that is outlined in your loan documents. There are two exceptions to this rule. One is if you are moving to be closer to a job that is outside of reasonable commuting distance...

Joint Owner
I have spoken with people in this situation. You need a subordination of the IRS lien because you are part owner. If you want to keep the property, a payment pay is worked out on a negotiated lower amount. Do not go looking for an attorney, because help is free. Contact the Taxpayer Advocate Service...

acceleration of mortgage notice
Used to be a loan officer, have graduated into loss mitigation. I now work with a Nationwide Mortgage Law firm. We only take on cases we know we can complete. First we need to understand how many payments you are behind. In the state of Maryland - which is a judicial state, it can over a year to take your case...

Loan on Individually Titled Condos
I had a situation like yours when I was an LO, a borrower ended up doing one commercial loan because there are multiple properties.

What is a loan modification?
My firm has completed 5400 modifications in the last four years. See your in NJ, I am in Suffolk County Long Island. I have had people drive from Maryland to meet with me. My secret to success is understanding what the norm is and put myself myself in another person's shoes to correct the problem. ...

energy efficient mortgage
The OB needs to list more information.. There are Energy Star Mortgages (new construction). The OB talks about an existing loan.....(are we missing the boat???) ... My opinion - they want to purchase some energy efficient product and are looking to finance it. All of here know - once a loan closes, you cannot add to...

reverse mortgage
We do not know your situation - I caution you about reverse mortgages. Your income and your credit score is not a factors getting approved, over the age of 62 and greater than 50%LTV are the main qualifying factors to be approved. I have worked with many people with different situations after the fact,...

preapproval reliable?
Larry (above) has the best answer, answering your question Example - pre approved on you credit, pre approved on your income, etc... You submit your application. There are pre conditions and post conditions from the Underwriter.... Word of advice - if you have a great score good income, etc and sure no issues...