Congrats Aaron on your Lender Paid Closing Cost VA IRRRL in Ellensburg, WA! Aaron was looking to reduce the rate on his current VA loan from 5.5% and found us by searching online atÂ http:// www.VAHomeLoans.c Read more
Only a lender looking at your complete information can approve or deny you. There are always basic rules, but these often have exceptions that are too numerous to mention. Rather than take anyone here's word, sit down with a local lender and discuss your situation. It's complicated with both BK and Foreclosure, but there may be something out there.
If you don't qualify now, you'll learn directly from the most informed and reliable source what you can do to get approved sooner rather than later. I wish you the best of luck.... more
Despite concerns about rising mortgage rates and low inflation, the Federal Open Market Committee (FOMC) voted Wednesday to continue its policy of near-zero interest rates and its $85-billion-per-month
I'm unaware of any requirement that your guest leave first. Now when you purchase your new home in your name, you can have the title vested as Nasif Jones, an unmarried person. This will clearly indicate your sole ownership.
Now if your guest has acted as a common-law wife or partner, you may wish to consult an attorney. This would be a legal question which is wise to get resolved now, before the issue gets more complicated.... more
Banks Foreclose on Borrowers Pursuing Loan Modifications The $25 billion mortgage settlement reached in 2012 between banks and state attorneys general has not prevented mortgage servicers from foreclosing
You just go out and buy the house. I'm not a lawyer, so this isn't legal advice. But a guest in your apartment would have no claim--simply by being a guest--to any real estate you might buy. If the guest provided money for the downpayment (and there were written documentation), then maybe yes.
You can buy your house at any point. If you have a formal arrangement with the guest (a lease, for instance), then you should abide by the terms of the lease. If there's no formal arrangement, you can just ask her to leave. That can be done before or after the purchase.
Check with a lawyer for more information.
Hope that helps.... more
Bernanke's Advice: Put the Brakes on Curbing the Fed's QE In a prepared statement issued at the congressional Joint Economic Committee Wednesday, Federal Reserve Chairman Ben Bernanke testified regarding
Yes, this is commonly done these days! Start by finding a great property manager for your rental, then get pre-approved with a lender, to make sure this all works for you. You are in a great position; call your Realtor and go for it!
Jean Bradford, SFR,CRS
Managing Broker Associate
John L. Scott
Silverdale, WA... more
http://www.Harp2MortgageRates.com Seattle Tacoma HARP 2 Mortgage Rates New Program FHFA, Fannie Mae and Freddie Mac Announce HARP Changes to Reach More Borrowers Washington, DC â€“ The Federal Housing Finance
Make a formal request to the FHFA to eliminate the securitization cut off date for HARP eligibility and allow re-HARPing Under the Home Affordable Refinance Program (HARP) The Director of The Federal Housing
Contrary to popular belief, listing your home during the Holidays could be one of the best times all year. Here are a few reasons why you should consider listing now:Typically, in the new year there is
There are manyÂ different ways that a Rent To Own home can be sold. This type of sale will usually include a seller who doesn't need to sell right away and a buyer who for some reason can't obtain financing
Sorry to hear about HSBC's reluctance to modify your mortgage terms.
For new mortgage refinance options, first, you will need to bring your mortgage current in order to be refinanced. Even in the days of sub-prime lending, when recent severe mortgage lates were perfectly fine to qualify with, most required you to be current on the mortgage before they could refinance. Second, having a 30 day mortgage late and a 60 day mortgage late reduces your refinance options if you were to bring yourself current, as unless you are going through some extenuating circumstances right now, a short refi with FHA's normal program that has mortgage lates within 12 months would be considered the same severity as a foreclosure and you'd need to have 12 months of clean credit before you attempt a short refi into a new FHA loan.
FHA did come out with a short refinance program last year that had some special requirements, there is a Wall St Journal blog article at http://blogs.wsj.com/developments/2010/09/06/the-fhas-short-refinance-program-frequently-asked-questions/ which has some great info on it... but alas you still need to be current on the mortgage.
Fannie Mae & Freddie Mac options require at least 2-3 years from a short sale/refinance, and can't short refinance into their programs.
Short of those options, a new lender who doesn't use FHA, Fannie Mae or Freddie Mac guidelines could potentially be willing to help you out... however portfolio lenders typically need lower debt ratios and pretty good credit history, so unless someone knows of a lender who specifically does short refinances while having recent mortgage lates, you could be chasing dead ends.
Not sure if you've looked into NACA, however they have a HomeSave program where they will work directly with mortgage lenders, HSBC is one of them, and perhaps they can be successful in getting HSBC to modify your loan terms. https://www.naca.com/refinance/refinanceSubmission.jsp - they are coming to Seattle end of June. I have read people get denied by their lenders for modifications but NACA gets involved and is able to make it happen. It's a process, it's not super quick, but it's an option.... more