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Can you sell your home after you have got a loan modification?
Jedahuke
Absolutely! A home loan modification is designed to do 2 things.
1. Make the payment affordable for the homeowner.
2. Keep the bank from foreclosing on the house.
The bank loses money on every foreclosure, as they are not legally allowed to make a profit. As a result, they are more than willing to find a way to keep the collateral paid. If you sell the house after a successful modification, then they are not taking a loss on the property. Even in the event you have to short sell the property, it is more beneficial to the bank to short sell than foreclose. Modification has no refleflection or bearing on the sale of your home, and you will not be charged any extra fees if you sell a home that has a modified note.
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∙ 13y ago
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Can you get a home loan if you are on government aid?
Possibly. In the 70's I had a friend that got a home loan in Detroit Mi while on Welfare and ADC.
Can you sell a mobile home before it goes to foreclosure and do you have to give that money to the mortgage co?
Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.
Is Embrace Home Loans a real loan company?
No, they are a huge scam. They are ''out to get your money''. One resource, Sarah Julia Williams got a loan from Embrace Home Loans and they took her 10,000 dollars and relocated.
How many times does loan modification can be done?
Depending on how permanent your last loan modification is. If you got a very low rate that is fixed for 30 years, more than likely you will not be able to get another modification approved. However, if after your loan modification was done and you have suffered another hardship and the resolution that you have received before was only temporary (ex. 2 Yr ARM, 5 YR ARM), then try again. If another loan modification is really necessary, you can re-apply again after 10-12 months. Having said that, if you had negotiated your loan directly with your lender and that is all that you got, it is best that you hire an attorney-assisted loan modification company that will negotiate with the lender to get the maximum benefit that you can get, otherwise, there would be no reason why you should apply at all, since you know that you will end up in the same situation again. There are loan modification companies that only have processors to negotiate with the lenders...more often than not, their power to negotiate is not as strong as that of the lawyer-assisted companies. They cannot charge upfron fees and your fees are tacked at the end of the loan, but you might be gambling the final resolution as a result. Good loan modification companies will work towards getting you a more permanent situation - ex: low interest based on current rate, 30 yr Fixed rate; or work out a Stair step program with your lender where your interest starts as low as 3% (fixed) for 5 years, then goes up to maybe 6% (more or less) fixed until maturity. The final result is still based on individual case and your own lender. Loan modification companies would not know the outcome until after it is negotiated. I have called a loan modification company pretending that I am a client and the person on the other end tells me that I am qualified and without me asking, told me that I can stop paying my mortgage now. BE VERY CAREFUL! Companies like that are stepping the bounds of the law. I am a loan modification consultant, but I would NEVER tell you to stop paying your mortgage. IT IS WRONG, IT IS UNETHICAL and if is it not already, IT SHOULD BE ILLEGAL! The decision should be left for you to decide. If you can continue to make the payment, by all means do so! YOU DO NOT NEED TO BE LATE FOR YOU TO GET YOUR LOANS MODIFIED! At least for now. If it becomes a lender requirement - it seems to be gettign there, the decision should still be left up to you.
If you are divorced from your previous spouse who got the house and your name is still on the mortgage how responsible are you for the debt when it goes into foreclosure?
The home is simply collateral for the loan. Regardless of what happens to the vesting of the property (legal ownership) you are still liable for the loan. If a court awarded the home to a spouse, the loan should have been refinanced into their name. If that did not occur your liability for the loan has not changed.
Got a home loan and gifted a percentage to sister. I now want to refinance or put on the marketShe refuses to sign anythingI can't sell or refinance. If I foreclose Will this affect her credit?
Who is on the title to the property? and who is the loan name under?
Can you get a home loan if you are on government aid?
Possibly. In the 70's I had a friend that got a home loan in Detroit Mi while on Welfare and ADC.
Can you sell a mobile home before it goes to foreclosure and do you have to give that money to the mortgage co?
Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.
Do you have to go to court for a foreclosure summons if you have a modification loan?
It depends on the terms of your modification loan and the specific requirements of the foreclosure process in your area. You may still need to attend court proceedings related to the foreclosure summons if the terms of your modification loan do not fully resolve the situation or if there are legal issues to address in court. It is advisable to consult with a legal professional for guidance specific to your circumstances.
my husband and i got a va loan to purchase our home in 2007, can we also get a home improvement loan we don't want a home equity loan we just want to consolidate a home improvement loan from sears to another home improve ment loan with lower interest?
It is difficult when you have a Va but try going through CITI finacial You can either consolidate your loans into a 100% VA Loan and get cash out for the home improvements. If the home improvements are considered Energy Efficient improvements, you can borrow over and above the value of your home. We can connect you with a lender that WILL NOT charge you fees for the VA loan.
Is Embrace Home Loans a real loan company?
No, they are a huge scam. They are ''out to get your money''. One resource, Sarah Julia Williams got a loan from Embrace Home Loans and they took her 10,000 dollars and relocated.
How many times does loan modification can be done?
Depending on how permanent your last loan modification is. If you got a very low rate that is fixed for 30 years, more than likely you will not be able to get another modification approved. However, if after your loan modification was done and you have suffered another hardship and the resolution that you have received before was only temporary (ex. 2 Yr ARM, 5 YR ARM), then try again. If another loan modification is really necessary, you can re-apply again after 10-12 months. Having said that, if you had negotiated your loan directly with your lender and that is all that you got, it is best that you hire an attorney-assisted loan modification company that will negotiate with the lender to get the maximum benefit that you can get, otherwise, there would be no reason why you should apply at all, since you know that you will end up in the same situation again. There are loan modification companies that only have processors to negotiate with the lenders...more often than not, their power to negotiate is not as strong as that of the lawyer-assisted companies. They cannot charge upfron fees and your fees are tacked at the end of the loan, but you might be gambling the final resolution as a result. Good loan modification companies will work towards getting you a more permanent situation - ex: low interest based on current rate, 30 yr Fixed rate; or work out a Stair step program with your lender where your interest starts as low as 3% (fixed) for 5 years, then goes up to maybe 6% (more or less) fixed until maturity. The final result is still based on individual case and your own lender. Loan modification companies would not know the outcome until after it is negotiated. I have called a loan modification company pretending that I am a client and the person on the other end tells me that I am qualified and without me asking, told me that I can stop paying my mortgage now. BE VERY CAREFUL! Companies like that are stepping the bounds of the law. I am a loan modification consultant, but I would NEVER tell you to stop paying your mortgage. IT IS WRONG, IT IS UNETHICAL and if is it not already, IT SHOULD BE ILLEGAL! The decision should be left for you to decide. If you can continue to make the payment, by all means do so! YOU DO NOT NEED TO BE LATE FOR YOU TO GET YOUR LOANS MODIFIED! At least for now. If it becomes a lender requirement - it seems to be gettign there, the decision should still be left up to you.
Can you get a loan if you got a holiday loan?
Yes
What is familial influences?
Recenlty my friend got home loan of 500000$ for 25 years on 1.5% which should be paid annually my friend doesnt have good credit his credit score is below 500 but still he got loan. I asked him how you got ? He told me while i was searching on internet for Home loan with Bad credit he found a site which contains about 8 links for bad credit so i checked all of them one by one . go to www.dixiloan.com > Home loan Note each link contain different interest rates and repayment period. Take Care Bye!
Which financial institution offers a bad credit home loan program?
CITI finacial offers secodn home loans. My parents got one from them and they are on SSI.
If you are divorced from your previous spouse who got the house and your name is still on the mortgage how responsible are you for the debt when it goes into foreclosure?
The home is simply collateral for the loan. Regardless of what happens to the vesting of the property (legal ownership) you are still liable for the loan. If a court awarded the home to a spouse, the loan should have been refinanced into their name. If that did not occur your liability for the loan has not changed.
What is family buying influence?
Recenlty my friend got home loan of 500000$ for 25 years on 1.5% which should be paid annually my friend doesnt have good credit his credit score is below 500 but still he got loan. I asked him how you got ? He told me while i was searching on internet for Home loan with Bad credit he found a site which contains about 8 links for bad credit so i checked all of them one by one . go to www.dixiloan.com > Home loan Note each link contain different interest rates and repayment period. Take Care Bye!
