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Pre-approved for a FHA home loan, got an accepted offer and 1 week before the closing the bank pulled the loan. What can I do?
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Answered on May 22, 2013
Unfortunately, a pre-approval is not an approval, so FHA is not required to insure the loan. If there is an issue proving income, an appraisal...
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We are have trying to get a loan modification for 2 years, now the bank is going to sell it in Aug.
What can we do to save it
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Answered on May 21, 2013
If you are having difficulties obtaining a modification on your own, I would suggest contacting an attorney familiar with this area of law. If you...
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How do I make sure I get clear title at a Sheriff Sale?
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Answered on May 21, 2013
When you buy a property at foreclosure sale, as long as the second lien holder was named in the action, they will be wiped out. The only things...
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We have been trying to get a lower house payment from Bank of America and have gotten nothing but a run around.
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Answered on May 20, 2013
Unfortunately, the only way to get a modification is to work with the lender. I suggest you speak with an attorney who is experienced in dealing...
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Does your first mortgage take precedent over your second mortgage?
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Answered on May 10, 2013
When an debt is "Charged Off," it is simply for accounting purposes. A lender will charge off a debt if they believe it is uncollectable, and...
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We have a USDA-RURAL DEVELOPMENT LOAN..I won't go into the particulars at this time. We stopped making payments in April 2012.
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Answered on April 25, 2013
I think you may be mistaken. The credit counseling must be done within 180 days of filing, not at least 180 days of filing. I often have my...
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Short sale: HAFA vs Lender
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Answered on April 03, 2013
HAFA is a Short Sale program under the umbrella of MHA (as is HAMP). If you have a HAFA eligible loan, you will only get an approval if there is...
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Deed in Lieu - 1st & 2nd mortgage with same bank
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Answered on March 24, 2013
What it means to have title "free of encumbrances" is to have no liens, notices of pendency, etc. on the property. The lender can only take the...
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Got summons from mortgage co. on foreclosure property. property was included in my chp 7.what do i sent the courts
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Answered on March 18, 2013
I would absolutely consult a local attorney on this matter. A chapter 7 does NOT prevent the foreclosure of the security in a property. It only...
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Do I have a capital gain and ordinary income on a deed in lieu of foreclosure for a RENTAL Property?
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Answered on March 17, 2013
I would certainly consult a local attorney and a CPA on this. However, the IRS forgiveness provision only applies to an owner occupied primary...