Loans

They cannot earn enough money which they can't full fill there lives properly....

Mortgage Insurance protects the LENDER in the event of a foreclosure and will pay any $$$ loss to them....no protection at all for YOU. Mortgage Life will pay-off your mortgage in the event YOU or the covered person dies.

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.

no , taken over by Tower Assurance then rebranded as Eurolife

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.

yes, I did.

u/s 194A

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.

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.

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.

The best way to ruin a friendship is to loan them money. But if you intend to do this anyway, no matter how much you trust the friend, have papers drawn up and notarized as to the terms of the loan agreement. Otherwise, when (not "if", but when) the friend does not pay it back, you will have some legal recourse to get your money back. You don't even have to have an attorney draw up the papers, you can write the terms yourself, and both of you sign and date them, preferably in front of a notary public, so they can be notarized. Now, as to your question, the interest could be what the current rates at the banks are now, or you can give her a lower interest rate. If you have the money in a bank now, drawing interest, then you will lose that interest, which means a loss to you if you don't charge her the same amount of interest the bank is now paying you. Or you can charge a one-time fee that you both agree on. But which ever way you decide to go, have it written, signed and dated. You keep the original and give her a copy. If she gets offended that you want to do it this way, tell her it is for her protection, too. Which, of course, is the truth.

Gov't backed student loans are exempt from BKruptcy....they will come after you thru tax refunds or garnishment.

Speed, flexibility, and low issuance costs.

YES...

yes

Not if it is a non-owner occupied investment property. HOWEVER...... If it is a duplex or 4 plex and the borrower is going to live in one of the units, then you can.

If the owner moves out of the unit at a later time, they will still be allowed to keep the property as an FHA property and are eligible for streamline refinance.