Loans

This is going to depend on how "bad" your credit is and the CLTV ( combined loan to value ) of the EQ line. The combined loan to value is the amount of the first mortgage plus the max amount of the equity line divided by the appraised value of the home. If this is above 80 or 90 % you may have a difficult time in todays mortgage environment.

The prescribed interest rate is set every quarter based on the federal interest rate. A prescribed loan would be the one that would carry the prescribed federal interest rate. The person applying for the loan could have the attribution rules waived.

Not much. Nearly impossible to prove and so many make claims of stolen items, and no one ever believes them.

Not Unless you choose to pay it off. Selling your house has nothing to do with your auto loan. The only time an auto loan or any type of other loan would have to be paid off or legally settled is any loan you have defaulted on, and a Lien has been placed against your property. Each Lien will have to be settled or satisfied before the property can be sold. Liens can be placed on your property for various reasons, basically anyone can file a lien against someone by filling out the proper paperwork and paying the filing fee. As an example, I own a Locksmith business and I had a customer write me a bad check for $300.00 I tried for the longest time to collect this money through the proper channels, even my check collecting company was unable to collect the money. I filed a lien on his property for the amount of the original invoice, my bank fees and time I wasted trying to collect this debt. I paid $35.00 and placed a lien against his property, since I had all my paperwork order, and the debt was owed to me, he had to pay me my money before he could sell his house. Get this, he was pissed at because I had taken this action. Some nerve, he bounces a check and gets pissed at me. Hope this helps.

I was diagnosed breast cancer and currently on chemo treatments until july, 2014. I was terminated from my full time job and my disability payments have some issue, Can I defer my mortgage until Im back to work

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You need to discuss this with your mortgage holder. Most will work with you to restructure your payments IF you work with them. There is no legal requirement that they do so. But they would rather have you as a customer than as a foreclosed property they have to try to sell. Call and set up a time to talk with them.

To accelerate a loan is to demand full and immediate payment of the entire unpaid balance of the loan, including principal, interest, late charges and collection costs (not just the delinquent portion).

No to both questions. But the repossession agent has access to all that information and then some.

Try asking your Mortgage Servicer the following question. Please provide identififcation of the the name, address, and telephone number of the owner of the obligation as required by US Code Title 15, Chapter 41, Subchapter I, Part B code section 1641(f)(2).

Your Mortgage was most likely sold by your loan originator (lender), as part of an RMBS (Residential Mortgage Backed Secutity) by Wall Street through an SEC offering in the year it was originated. See EDGAR Online for RMBS offerings.

You can positively identify your Servicer by the MIN (Mers Identification Number) on your deed, not the loan number on your note. Go to MERS.com

Indepenent Auditor

Not sure who "they" are...but they can use all legal means to collect what you swore you would pay.

The short answer is yes. However, there are several variables involved here. Your income level compared to your debt load is a major factor. I close loans every week where the credit scores are lower than 580. You need to contact a mortgage expert.

To pay off $128,000 in 5 years at 6.42% interest you would have to pay almost $30,000 a year ($29,996.08 if my calculations were right). Monthly payments would be $2499.68, so I suppose bimonthly would be $1,249.84. You did not say what your current payments are or if they are monthly, but you would have to specify that anything over your current payment would have to go to principal.

You are allowed to make withdrawals, for example, for certain qualified hardships -- though you'll probably still face a 10% early withdrawal penalty if you're under 59-1/2, plus owe ordinary income taxes. Comb the fine print in your 401(k) plan prospectus. It will spell out what qualifies as a hardship.

Although every plan varies, that may include withdrawals after the onset of sudden disability, money for the purchase of a first home, money for burial or funeral costs, money for repair of damages to your principal residence, money for payment of higher education expenses, money for payments necessary to prevent eviction or foreclosure, and money for certain medical expenses that aren't reimbursed by your insurer.

No. You can apply additional money to your monthly payments and that will accelerate your payoff. If you are looking for a shorter contractual term you will need to refinance the loan

If your spouse is going to be on the loan, then yes it does matter.

You do not need a letter, you need to call or visit the loan company and talk to them about this personally. Skipping a payment can result in the loan company

starting repossession proceedings on your vehicle. This is something you do not want to happen so contact the loan company immediately if you are unable to make your payment on time.

Actually I never really heard of a spouse co-signing for a loan, but more being on the loan with you. More like a joint account. But you did say spouse, and maybe you weren't talking of being married to that person. Either way, from personal experience, I will answer the question from both points. If you are married and the person is put on the loan with you, the advantage and disadvantage would actually be the same thing. Their credit score. You don't want them to co-sign with you unless they have an alright credit score. Because the better credit score you both have, the better your loan, less required down, and also less interest. If they have a great score it can make these go down, and if it isn't that great, it will make it go up. If it is bad, it can make it be awful and possibly not go through with them on it. Also, if the person does have alright credit score, you can use both your incomes, to see how much you qualify for on the loan. You may get a $500,000 house instead of $200,000. As for co-signing, basically the same thing, but I don't think they take their income in consideration at all, meaning you get the $200,000 house, if you were going on the numbers I stated above.Other than that the advantage of a co-signer is if you qualify to only put 5% down, with a co-signer, it may make you qualify for 3% or nothing down even. But you may already be qualified for that by yourself. Also a co- signer can help you to be able to get the loan, if for some reason your a little short at being qualified to get the loan yourself. But they need to have a good crdit score still. Hope this helps, one more thing. Everytime you get your credit pulled yourself from creditors, it will make your credit score go down, but not with mortgage loans, if you get the loan in a few months. They actually like that, cause that means you are being responsible and shopping for the best loan. Myself, I am married, had both of our scores pulled, to see both scenerios to see which gave us the better deal. For me it was by myself. But if I could find an outside co-signer, it may be better.

Depending on what state you are in they will work with you for a series of months to get things on track for you. Ultimately, foreclosure is the bank realizing that they will no longer be able to get funds from you. If you are still in the early days of not being able to pay you should see if the bank will take a short sale. This allows the bank to take a price of the house that will close the gap of what you owe. For instance, if you owe $200,000 and can only sell it for $180,000; you only owe the $20,000 difference which is light years ahead of $200,000. If you have any more questions about the process please contact girlstripe3@hotmail.com.

About 1,200.00, that is one thousand two hundred dollars.

It is not the homeowners themselves who file foreclosure on a house, nor do they decide when to file the paperwork, nor do they decide how it will be pursued in the local court system. All of these aspects are determined by the lenders and creditors who have liens on the house to begin with. To begin foreclosure, all the homeowner has to do is stop paying the mortgage, whether this is the first mortgage, second mortgage, home equity line of credit, or other lien on the house.

So, if homeowners stop sending in the monthly payment to the first mortgage, after a period of time (typically 3-6 months in a row of missed payments), the lender will automatically begin the foreclosure process. It will hire local attorneys to initiate the lawsuit and have the paperwork served on the homeowners. The actual owners themselves do not have to do anything besides miss their mortgage payments -- the mortgage company will begin the foreclosure process with or without any further input from the borrowers.

The same works if the homeowners stop paying their second mortgage or any other junior liens. Even if they keep up on the first mortgage payments, the second lien holder will eventually sue the owners for foreclosure and attempt to have the house auctioned off. There may be little chance that the second mortgage company will receive much from the sheriff sale of a house, since properties typically sell for not even enough to pay off the first lien, but the lender will not wait forever for the owners to get back on track. Eventually, it will be better to take the loss, write off the loan, and take any write-offs that are available.

In the case of homeowners who stop paying on both or all mortgages at once, it is usually the first mortgage that will file for foreclosure first. If the homeowners do not find a solution to stop foreclosure, then it is likely that the junior lien holders will simply let the house go and write off their loans. In most instances, the sheriff sale will not generate enough proceeds to pay off the first mortgage in full, and other liens will not be paid off at all. There may be a small chance of being sued afterwards for a deficiency judgment, but this is a somewhat remote possibility.

Yes, there is no statute of limitations.

If you need help getting out of default, or getting a garnishment lifted, then contact Default Management Services, Inc. for help. You can Google the name for a phone #. Ask for Doug, he is knowledgeable.

The car goes to auction, then you owe the remaining balance of you loan + repossession and storage fees minus what the car was sold for at auction.

Most banks do not tell you they are repossessing it. Yes to the loan question and yes he can come at any time.

Homeowners insurance does not cover your mortgage if you become disabled. You would need to obtain mortgage protection insurance for that.

Refinancing a mortgage can usually be a very simple process as long as you have the correct information and you are working with a mortgage company that communicates with you effectively and has all the information you need.

Generally, the process starts with filing an application with a mortgage company to refinance, known as the per-approval process. On the application, you will include information such as employment and income, assets, and credit history.

After filing the application, the mortgage company will verify and check through all the information you provided to determine whether or not you will be eligible to receive the loans to refinance. Once approved and finalized, the loan documents will be made and delivered to you at the place of settlement.

It is important to note that it is essential that you keep your financial history clean and unaltered during this process as any red flags can cost you any eligibility to receive the loans you need for refinancing.

Other than that, you simply need to work with your mortgage company and communicate with them with regards to any questions or concerns you may have. A good mortgage company will usually provide you with a wealth of information on this topic on their site.