0
Ive been off sick with an accident to your back at work your money has gone to half pay would you and your husband be able to get help with our mortgage?
Wiki User
∙ 14y ago
Except for the accident (my spinal problems are disease related), I've been in this situation, and there aren't any easy options, particularly in the current economic climate.
In my case, I had pretty much stopped working about 2 months prior to my 2nd spinal operation in 1999. It was another year before my disability retirement was approved, and as such, we only had my wife's income to sustain us, along with what little family and friends could help us with. Creditors have no sympathy or heart - all they care about is getting their minimum each month.
You can try credit counseling, but in the end if you look at the numbers, it takes years and the reduction usually isn't enough to help you anyway.
For us, it got to the point where we were left with only one option, and that was bankruptcy. A lot of people don't want to do it, and we were no exception. But it allowed us to keep our house, cars, assets, and erase our other debts so we could at least have a chance at living. And as far as the credit stigma, they were sending me credit card applications within 6 months. I haven't accepted one in 12 years.
Keep in mind that if you can always get an equity loan on your house as well, and if you do it in conjunction with a mortgage refinance (especially given today's rates), you could get the cushion you need to keep going without filing. But in the end, you need to really consider your overall financial position, and if it means losing your house or your pride, pride should always come first. You need to always consider all options, no matter how distasteful they might seem.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Is the Bank of America Mortgage a program that would help to save homeowners money?
Yes, Bank of America Mortgage would help in saving money for homeowners. There will be Mortgage Loan Officer that would assist in needs such refinancing and buying.
If you had a judgment against you from an accident from five years before you were married just handed down now would this affect your husband?
No. It might however create difficulties if you apply for joint credit or mortgage. This does not necessarily mean a financial agreement would not be approved, simply that an explanation might be needed.
What would the money papa made on the railroad have paid for in roll of thunder?
the money from railroad would pay for taxes and the mortgage
What mortgage protection policies would the average homeowner need?
Not every person needs mortgage protection insurance. It is typically used to pay your mortgage with your life insurance policy. That money would probably be better spent on your family who can spread the money out for food and utilities.
If a husband and wife name each other as beneficiaries but both pass away in an accident where will the money go?
You should have a contingent beneficiary,if not you need one. That would be someone who receives the money if the primary is not alive. If none is listed it goes to the estate,
Why would you want an interest only mortgage?
An interest-only mortgage calculator can help you determine how much money you'll save by getting a shorter-term mortgage, refinancing your mortgage and/or making additional payments on your mortgage.
If you divorce your husband my name still on mortgage can I be liable for the foreclosure?
Yes. The best thing would be to either get the house in the divorce, or get everything, including the mortgage, signed over to your soon to be ex.
The husband has his name only in the mortgage deed and mortgage insurance if he dies would mortgage company get the house or would the wife?
The mortgage insurance you are referring to is most likely the standard mortgage insurance that is on a loan above 80% of the value of the house. This MI covers the lender in case of the borrower defaulting on the loan. It does nothing to help the borrower. If you are on the deed then you still own the house if your husband dies but if you cannot either refinance the mortgage or continue to pay the monthly payments then the lender will ultimately foreclose on the house and repossess it. What you need is a life insurance policy that will pay off the balance on the mortgage in case of the death of the mortgage holder.
What would make a mortgage insurance premium increase?
There are many things that would make a mortgage insurance premium increase. Mortgage insurance is used when someone dies and pays money so that the mortgage will be paid. Smoking or participating in dangerous activities will increase the premiums.
Would a surplus money action in a foreclosure be filed by the junior mortgage holder?
That is true
How and who would notify a woman that it's at her work office if her husband and son have just died in a car accident?
Their maid.
Why does your husband have to sign closing papers when you bought a hose in the state of Kentucky?
If your husband is joint owner or jointly liable on the mortgage, then yes, he would need to be present and sign the closing documents. If he is not involved in the purchase, he would not need to be there.
