Loans

The executor is not personally liable for anything. The estate is liable for all of the debts. If the executor is going to inherit anything, there may not be anything for them to get.

If the mobile home and mortgage are in your mother's name alone then you are not personally responsible for paying the loan. However, your mother's estate is responsible for her debts. If the loan isn't paid the bank will foreclose on the property and is entitled to any other assets if there is a deficiency.

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It's an "advance fee" or a "419" scam. You are told you'll get a large loan, check, etc. All you have to do is send a fee for various costs. And your personal info. Then you lose that money, and any other amount they can steal from you.

There have been hundreds of complaints.

Reverse mortgage proceeds may be taken as a single lump sum, a credit line, monthly payments for life (tenure) or payments for a set amount of time (term payout). You can also receive payments from the reverse mortgage as a combination of all. i.e 25% lump sum, 25% credit line, 50% monthly payout.

The lower the term requested the higher the monthly amount. After the term is over no further payments from the reverse mortgage will be received.

Source:

http://www.allrmc.com

They will probably just pester you to death about it and charge you a late fee on each one, but things being how they are right now they are probably grateful to be getting anything. At the same time remember they do have the right to pursue whatever means that are written out in your contract for getting payment on the debt. Keep in contact with them as often as possible and they might even write off some or all of the late fees, they can even do things to make you current without costing you any out of pocket money.

yes, I did.

A lot of people add and remove people from the deed to their property, without any trouble.... but if you change title the mortgage company CAN accelerate your mortgage (make it become due & payable) if they find out. If you remove your dad from the Mortgage or Loan and add your wife she will have to qualify for the mortgage with you. You will have to do a refinance with your current lender (or another lender) you will have to have a new appraisal & credit docs to prove you qualify. If you do a "Quit Claim Deed" or "Gift Deed" adding your wife and removing your dad. He will still be responsible for the mortgage until he is removed from the loan and she will not receive the credit for the mortgage payments on her credit report until she is on the loan.

USE OTHER AS 'ADDITIONAL INCOME SOURCE'......list additional incomes. did you ever fill in an auto application?

If it is a conventional FNMA/FHLMC loan and you are going to occupy the property as your primary residence....then it would be allowed but you have to prove some things...... Last time I checked you had to show that you had the bonds in your name..that you lived together with your husband for the last 12 mos it would be good if you share a joint bank acct. Write serial numbers & photo copy the name info on front of the bonds before cashing. Get the bank to write a receipt showing value of bonds when cashed-in. Gov't issued stuff really shouldn't be copied but for your own records & a true document trail ..I would.

Assuming you already have a loan in your name, and assuming this loan was approved in the last 20 years or so, no. You can't change a loan from one person to another. The only way to change a loan is to get a new loan. Remember the bank needs to be sure your boyfriend is credit and income-worthy of the loan, just like they did with you. Assumable mortgages have not been around in a long time. Nowadays, loans are unassumable, meaning each time a loan is received, it must go through the process of approval with the bank. If I misunderstood you, and you were really asking can the deed have the names changed, sure. That's just a quit claim deed. However, no matter what the deed says as far as ownership is concerned, the loan will still be in your name until a new loan is received.

Yes, A-2 visa holder can apply for a mortage loan. Some lenders do it some dont, u need to check with the lenders to make sure they do mortgage on A-2 visa. Also do keep in mind to tell them that u do not have diplomatic immunity in the US. I f that is the case u cannot do a conventional loan.

Well Georgia is a Debt Deed state not a mortgage state. So if you have a debt deed to record you can do it at the clerk's office in the town , city or county where the property is located. Deeds will have to be filed there too.

1 extra mortgage payment..principal & interestcan lower your term to about 19 years.

MORTGAGE: mortgage as "the transfer of interest in specific immovable property for the purpose of securing the payment of money, advanced or to be advanced by way of loan, an existing or future debt, or the performance of an engagement which may give rise to a pecuniary liability". The transferor is called the 'mortgagor,' the transferee is a 'mortgagee'. The principal money and interest thereon, the payment of which is secured are called the 'mortgage money'.

PLEDGE : pledge as "bailment of goods as security for payment of a debt or performance of a promise". The person who offers the security is called 'pawner' or 'pledger' and the bailee is called the 'pawnee' or 'pledgee'. In case of pledge:

There should be bailment of goods; and

The objective of the bailment should be to hold the goods as security for the payment of a debt or the performance of a promise. The bailment should be on behalf of a debtor or an intending debtor.

The pawner or pledger remains the owner of the property except to the extent of interest which rests with the pledge because of the loan borrowed from the bank.

There is actual or constructive delivery of goods.

Pledge is not created in respect of future goods. The goods must be specific and be capable of identification.

The goods must be in possession of pledgee. Otherwise there is no pledge.

Pledge agreement may be oral or implied.

HYPOTHECATION: Hypothecation is a charge against property for an amount of debt where neither ownership nor possession is passed to the creditor. Hypothecation is a charge against movable property. The goods will, unlike a pledge, be retained by the borrower and be in the borrower's possession. The borrower gives only a letter stating that the goods are hypothecated to the banker as security for the loan granted. There will be no transfer of the property to the borrower.

Features: It is an equitable charge created against immovable property.

Neither the possession nor the ownership of the property is transferred to the banker.

The contents of the letter of hypothecation determine the rights of the banker.

The banker has the right to take possession of the property (if there is default) and sell the hypothecated goods to realize his dues.

If selling rights are not incorporated in the letter, the banker has to approach a court of law to recover the dues against the hypothecated property.

Hypothecated goods can be sold any time to the genuine purchaser for value without the knowledge of the banker or the hypothecated property can be pledged to another person provided the pledgee has no knowledge of the previous hypothecation.

Yes if this is a "trial modification". Once the modification is finalized and you make the agreed upon payments on time, it will report as paid on time.

no , taken over by Tower Assurance then rebranded as Eurolife

The interest rate on a reverse mortgage varies depending on the program that you choose to take. There are both fixed and adjustable rates, equity lines and cash payouts etc. Currently the best fixed rate product is around 4.5%.

is khor saw hong in the black list in bank negara?

Check out: www.hud.gov find your local FHA office and see what type of grants or downpayment assistance programs there are in your area. Also your approving FHA lender should know.

If the current VA rate drops 2% or you can save more than 50 per month you can do an Interest Rate Reduction loan. If you want equity out (cash back) you will have to wait 6 mo-1 year (until your VA appraisal expires). Most Lender's will base you new loan on the original Sales Price if it is within the first year. So unless you put a downpayment of 10% or more it usually is not wise to do this during the first 12 mos.

90 days... if you are on current active duty. 180 days if you were discharged. You can write to the VA for your Certificate of eligibility and they will determine if your time in service is enough...if you were in the National guard , the time of service is longer. Even though you have a certificate of eligibility from VA that does not automatically guarantee you can get a VA loan. You still have to have income , assets,credit and debt to income ratio's that meet the current VA guidelines. They also require residual income based on the number of people in your household.

Yes..that is called a "cash-out" refinance or consolidation loan. The Lender will base your loan amount on the current value of your home. Of course you will have to qualify for the new mortgage payment.

u/s 194A

I would contact mortgage company and send them copy of Death Certificate and see if they will hold off on foreclosure ( if it has gone that far 3-4 mos with no payments). If it is a HUD/FHA loan contact them and see what you can do. Go to www.hud.gov. and get your local HUD office number. The other solution would be to rent the house out until it sells. As long as your tenant knows you are selling and is willing to show the house when you need it...that's what I would do. I just went thru this in November 08...my dad died. He had a VA loan but luckily the house sold in 2 mos. Good luck to you.