Samantha

How to Keep House By Paying Off Mortgage During Financial Hardship

Scenario: I live in California and have a house with first mortgage worth of $470K and a second home loan worth of $180K. Due to some financial hardship (I had a divorce and had to pay lump sum alimony), I couldn't make the mortgage payments on time. M... Read >

Second mortgage charge-off: What are the ramifications?

Second mortgage charge-off: What are the ramifications? Scenario: We have a first mortgage and a home equity loan on our home. My husband has lost his job recently and we are lagging behind our mortgage payments. We are somehow able to take ... Read >

What is the most suitable mortgage for a disabled veteran?

Scenario: I am a disabled veteran and live in Texas. My credit score is somewhere between 720-740 and I earn only 18,000. My husband's middle credit score is about 594, highest being 660. He earns about 50,000 in a year. We want to take out an FHA mort... Read >

Writing a loan modification letter

If you are looking for loan modification, the first thing you need to know is how does a loan modification work? You need to make a request to the lender through a request letter that also outlines the terms of loan modification. Here are few instructions... Read >

Bankruptcy Chapter 13 – Can it stop foreclosure?

"I have been laid off from work and have joined another organization that pays me less than what I earned earlier. I have a family to support. My wife is on unemployment income. I am finding it really difficult to pay a monthly $980 on my mortgage. Who ca... Read >

Loan modification: Role of a hardship letter

Loan modification is something a lot of you may be looking forward to. But the fact is that not all individuals can get modification for a loan. The creditors need to be really convinced that you are having trouble paying up the debt and only then maybe t... Read >

How do second mortgages work?

Second mortgages are taken if you have any home improvement plans or debts to pay off or simply put when you need extra finances. It is an additional loan taken against the same property. Such loans are considered riskier and hence lenders charge higher r... Read >

Mortgage Reaffirmation after Chapter 7 – What is it all about?

Mortgage Reaffirmation after Chapter 7 - What is it all about? If you'd like to reaffirm your personal liability for a secured debt even after a discharge from Chapter 7 bankruptcy, a reaffirmation agreement is what you need to sign with the lender. R... Read >

How to avoid a charge-off?

Charge-offs appears on your credit reports if you have been delinquent on a debt. A charge-off means that you have not paid your debts for a period of 6 months straight. With this on your report it means that you cannot make further purchases with the acc... Read >

Mortgage fraud tips: Types of fraud you can avoid

Be careful when you are applying for mortgage. You do not want to give in any false information so that your application may be turned down due to false information or misrepresentation of facts. Rejection would be a trifle matter compared to other conseq... Read >

Chapter 13 Bankruptcy

What is chapter 13 bankruptcy and what are its pros and cons? Filing Chapter 13 bankruptcy can benefit you if you have failed in all your attempts to get rid of your outstanding debt. With the help of Chapter 13, you can avoid foreclosure and also repa... Read >

Property Transfer Deeds to Smoothen the Process

Property deeds help you transfer or assign ownership of property, title to the land and a house in that land. Unlike earlier times, today such transfers are recorded electronically. There is a grantor and a grantee involved in the transfer of owner... Read >

Chapter 13 Bankruptcy

What is Chapter 13 bankruptcy and what are its pros and cons? Filing Chapter 13 bankruptcy can benefit you if you have failed in all your attempts to get rid of your outstanding debt. With the help of Chapter 13, you can avoid foreclosure and also repa... Read >

Adjustable Rate Mortgage for better management

ARM or Adjustable Rate Mortgage is a good option for those who plan to own your home for a few years only or if you are expecting an increased earning or if your existing fixed rate mortgage is too high. There are 4 components in Adjustable Rate Mortg... Read >

How can you get answers to your mortgage questions?

When you are planning to take out a mortgage loan, it is quite natural that you'll have a number of questions in your mind. However, it is always better to get your mortgage questions answered before you borrow a loan. 2 ways to get your questions ans... Read >