At least $ 50billion has been written down by various finance institutions, apparently as a result of problems with sub-prime mortgages. Assuming the average home price to be $ 200k, there should be about 250,000 homes in default and therefor in foreclosure. I do not see that in the market. Are the finance companies using the sub-prime market as a cover up for other financial miscrepancies?
Dec 292011
I have a home that is infested quite badly with mold. Unfortunately, I don’t think the finance company cares…they just want their money. Suffice it to say, I won’t be able to afford an expensive “clean up”. I’ve thought quite alot about letting the mortgage company foreclose….however, I have a sizeable chunk of money in the bank that I don’t want them to get their hands on (I do, after all, need a new place to live). What would you do? Are there any possible ways to slip out of this, as it’s an extraneous circumstance (health risk)? I appreciate all serious answers, and will award best answer 10 pts.
their customers pay three times over what the house costs then this foreclosure mess wouldn’t get so bad, and more people would be doing well, and maybe even homelessness would decrease dramatically? Example :: 45,000 dollar financed for thirty years at 406.00 a month =146,160.00 I believe that it’s insanity. Can anyone explain this for me? This is an actual figure from an FHA officer. I expressed interest in a home that was 45,000.00
charge their customers three times over what the house costs If they didn’t this foreclosure mess wouldn’t be so bad, and more people would be doing well, and maybe even homelessness would decrease dramatically? Example :: 45,000 dollar financed for thirty years at 406.00 a month =146,160.00 I believe that it’s insanity. Can anyone explain this for me? This is an actual figure from an FHA officer. I expressed interest in a home that was 45,000.00
Dec 262011
Can anyone recommend a company that will give a mobile home loan to someone with bad credit? We only have about $ 1,000 to put down, and the mobile home is $ 45,000. Has anyone been through this? Is there a company that you could recommend? We don’t have a lot of time. We are doing a “short sale” on our house to avoid foreclosure. The mortgage payments are just too high. ($ 1555.) We are really struggling, we can’t even find anything to rent for less than $ 1100. Thanks for any help.
A re-verse mortgage company gave me a foreclosure notice and I have to 2weeks to pay a loan of 120 thousand my estate’s estimated worth is 635 thousand. My credit score through equifax is at 659 now. the title of the house is in a
living
trust that my
grandfather had left me as executor of. I still need an updated appraisal. I would like a re-finance loan of 180 thousand to pay off the reverse mortgage and to have some extra money for expenses. Please please let me know what I should do in this delema?
I am in need of refinancing our home. We are currently almost 2 months behind on our mortgages. We stopped the foreclosure in October but are headed that way again if we don’t find a way to refinance. When we stopped the foreclosure in October we thought it was paying for Novembers payment too but it wasn’t so we were behind a month again right off the bat. We have a first and second mortgage we want to consolidate them. We also have an adjustable rate mortgage that is killing our finances. We filed bankruptcy almost 7 years ago. This is my dream home and don’t plan on leaving it until I go in a box in the ground. If anyone knows anything that would help I would be very greatful.
Dec 212011
I have a foreclosure hearing schedule to 2/19/09. I would like to keep my home I called Chase Home Finance (Mortgage Company) many times spoke in the home owners dept. and requested a loan modification or any other kind of help they could give me so I can keep my home. I would like to know from you if there is a way I can request to reschedule my court date for a later date in order to gain more time to solve this problem with my bank ? and how long i can postpone ?
Thanks I appreciate your help!
and How should I ask? what should I put in the request ?