RPB answers:

You are going to need to pay cash. Banks are not lending to even good credit, it has to be excellent.

You can not take over most loans, they are not assumable. Even the assumable ones require lender approval, which you will not be getting any time soon.

RPB answers:

No , what ever you put on the internet that is not under legeall copy-right laws . Is fair game as it is under creative commercince .
This is part of the broadband contract everybody signed . The only way someone on youtube can saw i don’t want this to go on another site is if , they take away the emmbed code . But you can go around that and just download it straight off youtube . So in short yes you can do what you want chances are that it is under creative commercerns licence . Just to be polite message him on youtube anyway .

RPB answers:

It sounds like the Agent has transferred all the possible risk to your friend.

What does she really have to gain and lose?

Personally, I would run for the hills .

RPB answers:

Any local realtor will know all of those properties. They are also listed in the country courthouse since foreclosure proceedings go through the courts.

RPB answers:

You are responsible for paying the dues you owed up until the time the bank took over. Once the foreclosure happened and the bank became the owner, they are responsible for paying the dues from that point on.

RPB answers:

If you have this kind of money i would contact the mortage company direcly and let them furnish the leads!!!

RPB answers:

It’s not so much laws as finding a lender who will take a risk on you. With a recent foreclosure in your history, your name is “Mud” as far as most lenders are concerned. If you had 50% down and the payments were 20% of your gross income you could probably get a mortgage at a passable rate but if you’re looking to put down 20% and jump back in to the housing market you’ll need to give it 2 or 3 years at least, and probably closer to 4 or 5 before any respectable lender is likely to consider you for a mortgage at anything close to an affordable rate.

RPB answers:

Short Sale will report on your credit report as “settled for less” or something similar to that. Foreclosure will report on your credit report as foreclosure. Letting the house go into foreclosure would be the last thing they would want to do. Each payment they miss affects their credit greatly.

I would attempt a short sale first. However, make sure that the short sale approval letter says the short sale bank is satisfying their lien(s). And also make sure they are waiving the deficiency(difference between owed and sold). If the bank is not willing to do those things then you can let it go into foreclosure and receive protection from the deficiency.

RPB answers:

Nope not really

RPB answers:

Depends on the length of the loan. Google “mortgage calculator” or
“loan calculator.”

RPB answers:

When your federal educational loans are in default, you have several options:

You can repay the loan in full.
You can negotiate a new payment plan with your lender.
You can “rehabilitate” your loan.
You can consolidate your loan.

Obviously option one is rarely attractive or possible for defaulted borrowers.

Option two (renegotiate) should be investigated fully – most borrowers skip this step, but it’s probably the best option for most people. Call your lender and ask to speak to someone in the “Workout” Department. Explain your situation to them (there’s nothing unusual about it) and ask what options are available to you for switching to a graduated, extended or income-sensitive repayment plan. If your lender will agree to change your repayment plan, a few regular payments will get your default status removed, and the new plan may be easier for you to keep up with.

Option three (rehabilitation) is really a specific form of a workout agreement. It probably won’t help you much in your situation, because it requires an agreement between you and the lender that will allow you to make 9 consecutive on-time payments of some agreed-upon amount.

Option four is everyone’s favorite, but you must absolutely understand what a consolidation loan will do. To keep this utterly simple – a consolidation loan is a brand new loan that will pay off your old, defaulted loan. A consolidation loan MAY lower your monthly payments, but understand how this works. A consolidation loan never lowers your payments by wiping away some of your debt – a consolidation loan lowers your payments by stretching out the length of your loan. If you pay less every month, you’ll make many additional monthly payments, and – in the end – you’ll pay far more back than you would have paid on the original loan.

As an example: Suppose I lent you $100 and you agreed to pay me back in 2 weeks by paying me $50 a week. You came back a few days later and explained that you weren’t going to be able to afford to pay me $50 – is there something else we could do? “Oh, absolutely,” I’d say, gallantly. “Instead of paying me $50 a week for 2 weeks, how about if you only pay me $10 a week for 17 weeks?”

See – in the end, you’ll pay me back $170 instead of $100 – that’s how a consolidation loan works. But remember – we’re not talking a $100 loan for a couple of weeks – by the time you pay that $5000 loan of yours back over many years, you’ll pay a few thousand more than you might have paid if you didn’t consolidate that loan.

I’ve attached some information about consolidating from the Department of Education – take a few minutes to read it over. If you do choose to go this route, be sure to consolidate with a reputable lender (or directly with the government) and not with some fly-by-night operation that you learn about from some pay-per-click site shilled on Yahoo! Answers.

Good luck to you!

RPB answers:

No one will “take over” your loans. You will still owe the money to your lender when you are in forbearance. They will simply add interest every month while you are making payments.

If you are asking about defaulting the lender will just contract out with a collection agency to start calling and hounding you to mail them payments. If you make 6 to 12 months worth of willing and reasonable payments you can ask your lender to “rehabilitate” your loan. This is when you are issued a new loan and pay off the one in default so you can get federal fin aid again. Again, rehabilitation can only be done after you have made 6 to 12 months of payments.

RPB answers:

If you can not afford the mortgage how are you going to afford the rent they are going to charge plus their profit ? If your already into foreclosure your credit is taking a hit so how are you going to get a new loan to pay it off to them at a higher price ? Sounds like a scam to me

RPB answers:

Foreclosures are an easier closing, since at that point the bank has taken back the property and such you are dealing directly with the bank, down side of foreclosures is the disclosure, the bank does not have personal knowledge of any material defects in the place thus you need to do your due diligence in inspecting the house

Short sales: are harder to close and in the end majority of short sales do not come true and the lender ends up foreclosing on the property.

See in a short sale, the seller places the home for sale at a price they feel the market will bare, this does not mean the bank must accepted the short sale, so what happens is you find a short sale you like, make an offer, it goes to the bank who must signed off this can take months to sign off, and they may in the end decided that is better to let the place go into foreclosure and collect the insurance on the note then approving the short sale number, so after of months trying to close on the short sale, you deal is dead because the lender refuses the number, also if the house has a second note and trying a short sale the chances are even less

RPB answers:

If the buyer wants that information then they should pay for it. If you want it, you pay for it and give them a photocopy. Then if they do pull out, you already have the original for reselling.

The reports should not cost more than $230.

RPB answers:

The seller doesn’t normally have a title company. Buyers usually insist upon title insurance to make sure the property is free and clear of all liens and delinquencies. This would be a good sign.

RPB answers:

Your loan modification is permanent! What you are paying every month is set in stone. You can only be disqualified if you are unable to pay the amount required for each of the first 4 months.

RPB answers:

File Bankruptcy but if they can not pay that will not buy them much time to catch up. Find another Atty and sue the asss off of an Atty that would sugggest stop making payments!

So they lived for 2 years without payments they should have a nice nest egg saved up, right?

RPB answers:

Have you contacted your Host Domain about this.. ? Best bet to see why you get blocked.. .

Abuse.ch Malware Database (AMaDa)

Search for a Domain name, IP address or MD5 hash:
Host Information
Host:web.me.com
A record:184.85.60.59
Status:online
File count:0/1
AS number:AS16625
AS name:AKAMAI-ASN1 Akamai Technologies European AS
SBL:Not listed
Country:US United States (US)
Sponsoring Registrar:DOTSTER, INC.
Nameservers:n/a
Dateadded (UTC):2011-01-16

RPB answers:

Sadly, not unusual. Sorry you are going through this.

RPB answers:

Compute your tax with out a home then add the home and see how much it changes.
If you get the standard deduction for a couple it is over 10,000 so that part is no savings. When you have a house you have property taxes and interest to deduct plus then your state income or sales tax and charity is deductable.
If you aren’t doing charity and pay $3,000 for property tax only any interest over about 6K will reduce your tax and it will reduce it at your marginal rate so you will save 25% of 6K or about 1,500 maybe 2,000 if you have high state taxes.

RPB answers:

APR would always be higher because it also factors in the fees you pay to get the loan as part of the interest cost.

RPB answers:

You can use bankrate it is a great website with many loan calculators and general finance info.

RPB answers:

Below is a link that might help. It’s intended as a way to prioritize multiple debts, but you can just enter the one: current balance, interest rate, monthly payment. On the second tab, there’s a spot to enter additional payments going forward. Just like any other calculator, it will not be exact so check with your lender before making a final payment, but hopefully it will help

RPB answers:

You probably use your driver too much at the range because you hit it so good. Trust me, I do that and so does everyone else because it makes you feel great about your game if you hit only the clubs that you are confortable with.

When I work on my pitching wedge, I start hitting them very easily. Just get a feel for the club and hit them as if you were chipping off of the fringe. Let your arms swing down and dont hold the club very tightly. My uncle is a pro and he told me to “let the ball get in the way of your swing”. As you start hitting more, bring your backswing more and more back, until you are hitting them from a full swing. You dont have to “Kill it” with a PW, just swing normal and dont rush it. The club has so much loft that it will “go” if you swing easily through it and make good contact.

Also, since you may be hitting your driver so much, you may not have the ball as far back in your stance as it should be when you are hitting the PW. So just move it back in your stance until you start hitting them with the trajectory that you want.

Hope this helps because it took me a long time to type.

RPB answers:

Any acrylic paint will also work very well, as will lacquer sticks. Just remember to be patient. The link below is a step-by-step (not my work) guide on a putter, but it’s the same principal for irons.

RPB answers:

975 is an obsolete model…it’s from around 2000
983 models came out in about 2002-2003. The E version produces a lower ball flight than the K
905 came out in about 2004-2005 and provides a decent size head.
906 is the current model out and not provides the large size head like other brands with more forgiveness than the older models.

My advice is to try a Taylormade or Nike driver. They are more forgiving to the average player. Titleist brands themselves as clubs for top tier players…meaning the sweet spot is not as big. Crappy golfers still buy their clubs though just because the want to “pose” as a good player.

But get what you feel comfortabale with…that’s what’s most important

RPB answers:

Go to the Titleist website and you can order from there. Also look on the website for “dealer locator” and find someone in your area. Good choice on clubs, I hope you’re pretty good.

RPB answers:

There aren’t even any paid agencies that can do this for you. HUD and the Better Business Bureau are actively looking, have not found a single one yet.

You do this for free, but you do it with your lender. Call them up and ask for their modification package. Some mail, many have them online now, so you can download and print it up from your home.

RPB answers:

Well, with a 665, and depending on how many mortgage lates you have had recently, we may be able to help. If for some reason, we can’t refinance you, I can assist you in locating a private investor who will pay you cash to save your credit and walk away from the home. If you are interested, IM or E-mail me with any further questions you might have. My company works with over 40 Nationwide Lenders, and 100′s of private investors. Plus, we can shop around for you without ruining your score. If not, my advice to you would be to locate someone to either help you with the mortgage payments or assume the loan. I would totally advise AGAINST filing Bankruptcy. It willl haunt you for years. Leave that as a last ditch effort, but ACT NOW whatever you decide! And, I also agree with Randall saying to maintain an open line of communication with your creditors. It truly does help!

RPB answers:

The new servicer did not notify you of the tax increase because they were not aware of it until they received the property tax bill. Thus you had a shortage in your escrow that has to be made up. If you can pay the shortage in a lump sum, your mortgage payment will decrease.

As far as avoiding foreclosure, the only ways to do that are to either continue making the payments or sell the house & pay off the loan.

RPB answers:

If your current payments would be over 38% of your (ex) husband and your gross monthly income then there is a good chance you can qualify and no need to refinance. However, if that is not the case you will need to refinance to make the payments under your income alone greater than 38% of your gross monthly income.

The specific guidelines for Obama’s Federal Loan Modification Program, Homeowner Affordability and Stability Plan are:

1. Do you live in the home?
2. Is your current loan amount within the Fannie Mae conforming limits ($625,500 in high cost areas
and for other areas it is $417,000)
3. Are your current house payments more than 31% of your gross income?(Loan modification kits can
help with all financial calculation your lender may want to see)
4. Are you must be able to prove you have current income?
5. Do you currently have a job?

RPB answers:

Your personal property is not a part of the foreclosure. Items which were purchased WITH the house ARE part of the foreclosure. If you bought with all appliances included, then the appliances stay.

RPB answers:

Sorry; they are swamped with the same thing.
And they likely have poor English speakers
and writers who have a hard time communicating to save them money.

YOU have a minimum of 30 days to
stay.

Am curious; do you have any equity in your home?

If so, you can always try to sell part of your house–it is an old method of helping
people keep their home.

OR selling all of it with a guarantee buy
back option from the buyer.

Am available to help.

RPB answers:

You will need to contact the Collections staff directly at (800) 446-2936, Monday -Thursday from 8:00 AM – 11:00 PM, Friday from 8:00 AM – 6:00 PM, Saturday from 9:00 AM – 4:00 PM, and Sunday 5:00 PM – 9:00 PM ET. If it’s a case of financial hardship most housing lenders have programs in place for you. It is NEVER a good idea to just stop making your house payments. The answer to how long before foreclosure mostly depends on your state I think but generally speaking I would think they could start foreclosure after 30 days.
I would keep trying to contact them. Send them whatever you can and send them something in writing. I find it hard to believe that they haven’t contacted you, however.
They have a mitigation department that could maybe help with a forebearance agreement if your hardship qualifies.
Good Luck!

RPB answers:

You need to find out what part of the foreclosure process the house is in, and determine if there is a redemption period after the sheriff sale.

Find out from the owners if a sheriff sale has been scheduled. That will give you a good estimate of when they will no longer be the owners of the house.

Then, look up your state laws to find out if there is a redemption after the sale. If there is no redemption, then you have to move out soon after the foreclosure auction, or you will be evicted.

If there is a redemption period, you can stay living in the house until after the redemption. This is a period guaranteed by state law for homeowners to keep possession of the house and attempt to pay it off or sell it. So the bank can’t evict you until after the period is over.

In some cases, the bank can offer to give you a thousand dollars or so just to move out. It’s called a “cash for keys” deal, but the amount offered will not be very much. Banks do it as a sign of good faith, and to persuade homeowners to leave without destroying anything or stealing all of the copper pipes to sell for moving expenses, etc.

But how long you have depends on how much time has already expired and what the state foreclosure laws have to say.

Good luck.
ForeclosureFish

RPB answers:

Income Verification is one of the first requirements of a short sale negotiation. Fannie Mae requires the following:
Income Verification
For Fannie Mae to allow a short sale, you must document that your income is too low to afford your mortgage. You must submit pay stubs for the past 60 days and complete a financial worksheet and a profit and loss statement covering the last 90 days. If you have tenants, you will need to submit any lease agreements. Fannie Mae also requires disclosures regarding any Social Security benefits or child support payments received for the prior 90 days.
I checked several different lenders on a website for a company called Mortgage Resolution Services, Inc. Countrywide, Chase, HSBC all require pay stubs for the last 60 days.

RPB answers:

This link should be able to help you with what you’re looking for. Https://portal.chicagopolice.org/portal/page/portal/ClearPath/Contact

RPB answers:

A short sale is when the house can not be sold without the approval of the note holder (the bank holding the mortgage). It essentially means that even though the owner can refuse an offer if they feel it is too low that it is irrelevant because the note holder has the right of acceptance and refusal over the owner. The bank will not sell for less than they are owed. That is the law of the short sale, subject to bank approval.

If she owes $350 than the only way for her to sell it for 100k is to pay the bank the balance herself.

Someone is feeding you a line of crap.

RPB answers:

You signed loan docs when you purchased your condo. This condo is the collateral that the lender is concerned about. Lenders can not go after property they did not list a collateral on your loan docs.

If you are paying all cash for a new property you may place the new property in a corporation, LLC or your name if you so desire.

When you file your short sale request you are saying that you are unable to pay this mortgage note for some reason. In most cases you would have to produce bank statements, w-2′s, pay stubs and other documents that would prove that you are not able to make your current monthly mortgage payments.

If you are now able to pay cash for a condo the lender would not pursue your for fraud, but the federal government. If you look at the documents you sign for the modification this is spelled out for you about submitting proper and adequate information on your documents.

I hope this has been of some benefit to you, good luck.

“FIGHT ON”