Q&A: How to refinance when your loan is higher than your home’s value?
Question by Subhash Chandra: I want to take a home loan for saving income tax in india? I am a saried person. working in india. I want to take maximum rebate in income tax form home loan. Please answar me that how emi +intrest may take rebate in income tax? how much rebate from loan for construction? Best answer: Answer by Jessy RSee if this helps. http://www.loanforbadcredits.com/ Thanks. What do you think? Answer below! Question by amdollar: How to refinance when your loan is higher than your home’s value? In this day of recession and economic downturn with no upside, all I hear is that people should refinance now. An example: If a home in 2006 is worth $ 365,000 and has an interest only loan of $ 365,000, in 2009, it is now worth $ 290,000 (-$ 75k less), should he/she refinance? Now unless they come up with the 75k difference, no bank is going to offer a mortgage with over 100% LTV. Any thoughts on this???!??! Best answer: Answer by Wyld Billi am not a mortgage expert. that is not what i do for my profession. however i do know that the fed was willing to help people upside down in their loan. talk to a mortgage professional. there were some programs for a while. they may be gone by now. if that is the case you are SOL to put it bluntly. however what is your rate. please tell me you are not in one of those horrible ARMs that got us into the situation we are in now. if you have a descent fixed rate just ride it out. things will turn around……………maybe. Add your own answer in the...
Read MoreFederal refinance program could address underwater mortgages – FOX5 Vegas …
Federal refinance program could address underwater mortgages – FOX5 Vegas … A federal mortgage-refinancing program, drugs there backed by the Obama administration, online what is ed could provide relief for those who are severely underwater on their mortgages. … The plan would apply to all loans, not just those backed by Fannie Mae or Freddie Mac … For more informaiton please visit here… Ten Tips About Mortgages and Refinancing in 2013 Many homebuyers opt for a Federal Housing Administration mortgage because it allows them to buy a home with as little as 3.5% down. But the already costly FHA fees that are added to your loan will increase again in 2013. As the costs of FHA mortgages … If you would like more informaiton please visit here… Obama administration considering expansion of mortgage refinancing program Nearly half of all home loans are insured or owned by Freddie and Fannie, and all the underwater borrowers with their backing can refinance to get a lower mortgage rate if they are current on their loans. The initiative has so far helped a lot. "It has … If you would like more informaiton please visit here… A brief look at the news in 2012 The FBI/Violent Crimes Fugitive Task Force in Dallas, acting upon an arrest warrant issued by the Crowley Police Department, arrested Brett Joseph Barnes, 25, formerly of Burleson, at his father's home in southeast Dallas and transported him to the … If you would like more informaiton please visit...
Read MoreMortgage Rates: Low Mortgage Rates to Continue; Refinance Applications …
Question by Brandi: Is Debit consoildation worth it for me? My family was just turn down for a home loan due to our credit score we have a total family debit of $ 3700 (already months overdue). Due to the poor spending habits we have vs our low income and rent it seems as though we owe millions. What my question is debit consolidation worth it? What can I expect to hear? Best answer: Answer by Ginger RIf the consolidation will lower your payments so you can afford to make them , unhealthy it could be a good thing. But remember, pills you can’t run up anymore debt. The worse thing is to consolidate and not change your bad spending habits…you’ll end up even deeper in debt! Also be careful and check out the lender ( remember, if it’s to good to be true..it usually isn’t!!) Before you sign on the dotted line, be sure that the costs of the new, bundled loan will truly be less than what you’re already paying various creditors. For many consolidation-loan candidates, their current credit woes mean they won’t get the lowest-available interest rate. Plus, when there is nothing to secure the loan (such as your home), expect the lender to bump up the rate. Calculate interest and fees on all your existing accounts to determine the total of the payments you now make. Then compare those amounts with the consolidation loan numbers to make sure it truly is a better choice And, as with any product, shop around. The bank down the street may offer an attractive loan rate, but a check of your local credit union could turn up better terms, “Credit unions also tend to be more lenient than the banks,” Add your own answer in the comments! Mortgage Rates: Low Mortgage Rates to Continue; Refinance Applications … To assist borrowers with finding HARP 2.0 lenders who will work with them, dosage the online form is available for submission and will return a response almost instantly. This process is simple and easy for homeowners who are looking for current low mortgage … If you would like more informaiton please visit...
Read MoreMortgage refinancing landscape will shift focus to HARP: Compass Point
Question by Cat: How do you get out of a house that you can no longer afford? Loan written on unimproved land, tadalafil more about so there was a 5, order 000shortage in escrow, so payment almost doubled. We refinanced, but payment still went up a bunch. Market crash, house no longer worth what it was when we moved in, so we are upside down.. electric bill is crazy! Our credit has been destroyed as we struggle to keep our heads above the water. We have already done the Home Affordable Program. This has helped but we are still not making ends meet. Best answer: Answer by Michael PI’m not expert on this, but your best bet is to call an agent that is CDPE (Certified Distressed Property Expert). Basically if you can, Short Sell it is the best option, but a lot of people can’t get the banks to agree on this but a CDPE would be able to help you with this. It would have the least affect on your credit. The next would be a deed in liu foreclosure. Essentially telling the bank, here’s the keys, I’m not gonna trash the place, or have anything drug out in paperwork process I’m just walking away. A bit less of a hit on your credit than a foreclosure. I spoke with this guy: http://www.zillow.com/profile/Kris-Chun/ He was absolutely outstanding in the amount of free time and information he gave me. He’s based out of Napa CA not sure where you are, but he would probably have a website or name of someone in your area you could talk to. Best of luck with all this. What do you think? Answer below! A handful of great apartment developing pictures I located: “The Wilmary Apartment Developing, ed Anderson, S.C.” Image by Particular Collections at Wofford College If you would like to see more residences click right here… Question by Nikki: How much longer should I have to wait? I put in my application for a home loan through USDA a week ago last Thursday. They said Friday that they had got my credit report and rent verification, more about they said they are now waiting on my income verification from my 2 employers. How much longer should it be before I know I am approved? I know I can call, side effects but all they tell me is they have 30 days to approve me. I just want to know how long you had to wait from when you put the application in? Best answer: Answer by Jeremy RIt’s not a big deal to call and ask how the application is progressing. It won’t make a difference either way. Know better? Leave your own answer in the comments! Mortgage refinancing landscape will shift focus to HARP: Compass Point The Boxer-Menendez bill, side effects which would take steps to incentivize cross-servicer refinancing through HARP, treatment is also expected reach passage by the first quarter of 2013, cure Compass Point said. "While passage of this legislation would likely result in increased … If you would like more informaiton please visit here… Potential to Save Tremendously with HARP Refinance Loan Program Homeowners have the potential to save tremendously with the HARP Refinance Loan Program. Updated with HARP 2.0, borrowers who are underwater, even with loan to values above 125%, can obtain low HARP rates and lower their monthly mortgage … More informaiton please visit...
Read MoreLastest Obama Home Refinance News
A couple of good large residence pictures I located: History of the Large House Image by K. Todd Storch This was in the livingroom of the Large Home explaining some of the families that had lived in the residence considering that the 1800’s. If you would like to see much more homes click here… Construction at Michigan Stadium (the Big House) – University of Michigan’s Football Stadium Image by cseeman Huge rennovations at the Huge House – Michigan Stadium – at the University of Michigan’s Ann Arbor Campus. If you would like to see a lot more residences click right here… Question by Nerd: Short Pay Refinance Question? I have heard of short pay refinances for underwater mortgages but can you do this with a VA home loan? If not are there any options for severely underwater VA home owners? I know there is a VA streamline refinance, decease but this doesn’t help with the underwater equity, salve just with the interest rate (or so I think). Any info is appreciated. Thanks! Best answer: Answer by the kidIf you qualify for HARP, you can refi an underwater. If you don’t, you can’t without bringing cash to the table. Helps only with the rate does not in any way help with the principal. Add your own answer in the comments! by marsmet526 Question by Drum Wiz: Can I refinance my home loan since I have been laid off? I was laid off from my job a few months ago, visit web and my current home loan is current with no late payments. Things are starting to get tight on our finances. Are there programs or companies that will provide refinancing when someone has been laid off? Best answer: Answer by StephenWeinsteinRefinancing? No. However, story a “loan modification” may be possible. Add your own answer in the comments! Question by Lemiercat: Can you get a real estate loan (Gov/Trad) to purchase a more affordable home when you are now in a foreclosure Job loss and injury caused us to fall behind on our mortgage payments. The Bank wouldn’t work with us and began foreclosure proceedings after 30 days late. We cannot afford our current home. We are trying to sell, link but the sheriffs sale has happened, page our time to sell is limited. We have located a different home that is 1 1/2 times cheaper & will allow us to make MUCH lower house payments. We have some money to put down (the bank wouldn’t take partial payments, work out repayment plan etc..) but we need to finance the balance for this different home. Our credit is terrible now because of this but we need a home for our family & children…are there any loan programs (government or traditional) out there to help us get into this home. We tried going Contract for Deed but the Foreclosure Co. wants to cut the home loose (the home we are trying to buy is a foreclosed property that needs repairs but the payment would be $ 100’s less than we pay now) -Any guidance would be appreciated. Best answer: Answer by rhsaundersTalk to your bank, and talk to a loan broker. I have used both with good results. Your real estate agent should be able to suggest a good loan broker; that’s how I found mine. He put together a reasonable package (it wasn’t cheap), and two years later we refinanced into a much more reasonable mortgage. What do you think? Answer below! Secondary Sources: 'Chained CPI, sick ' The Fiscal Cliff And The Damage Done, Why … “According to the Congressional...
Read MoreCan you get a real estate loan (Gov/Trad) to purchase a more affordable home when you are now in a foreclosure
A couple of good large residence pictures I located: History of the Large House Image by K. Todd Storch This was in the livingroom of the Large Home explaining some of the families that had lived in the residence considering that the 1800’s. If you would like to see much more homes click here… Construction at Michigan Stadium (the Big House) – University of Michigan’s Football Stadium Image by cseeman Huge rennovations at the Huge House – Michigan Stadium – at the University of Michigan’s Ann Arbor Campus. If you would like to see a lot more residences click right here… Question by Nerd: Short Pay Refinance Question? I have heard of short pay refinances for underwater mortgages but can you do this with a VA home loan? If not are there any options for severely underwater VA home owners? I know there is a VA streamline refinance, decease but this doesn’t help with the underwater equity, salve just with the interest rate (or so I think). Any info is appreciated. Thanks! Best answer: Answer by the kidIf you qualify for HARP, you can refi an underwater. If you don’t, you can’t without bringing cash to the table. Helps only with the rate does not in any way help with the principal. Add your own answer in the comments! by marsmet526 Question by Drum Wiz: Can I refinance my home loan since I have been laid off? I was laid off from my job a few months ago, visit web and my current home loan is current with no late payments. Things are starting to get tight on our finances. Are there programs or companies that will provide refinancing when someone has been laid off? Best answer: Answer by StephenWeinsteinRefinancing? No. However, story a “loan modification” may be possible. Add your own answer in the comments! Question by Lemiercat: Can you get a real estate loan (Gov/Trad) to purchase a more affordable home when you are now in a foreclosure Job loss and injury caused us to fall behind on our mortgage payments. The Bank wouldn’t work with us and began foreclosure proceedings after 30 days late. We cannot afford our current home. We are trying to sell, link but the sheriffs sale has happened, page our time to sell is limited. We have located a different home that is 1 1/2 times cheaper & will allow us to make MUCH lower house payments. We have some money to put down (the bank wouldn’t take partial payments, work out repayment plan etc..) but we need to finance the balance for this different home. Our credit is terrible now because of this but we need a home for our family & children…are there any loan programs (government or traditional) out there to help us get into this home. We tried going Contract for Deed but the Foreclosure Co. wants to cut the home loose (the home we are trying to buy is a foreclosed property that needs repairs but the payment would be $ 100’s less than we pay now) -Any guidance would be appreciated. Best answer: Answer by rhsaundersTalk to your bank, and talk to a loan broker. I have used both with good results. Your real estate agent should be able to suggest a good loan broker; that’s how I found mine. He put together a reasonable package (it wasn’t cheap), and two years later we refinanced into a much more reasonable mortgage. What do you think? Answer...
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