Loans

No

ditto answer---NO

I am so sorry your mother passed away. If you are executor (male) executrix (female) or heir in the Will, then it will go into Probate. Probate makes sure all debts are paid for before the heirs (such as yourself) receives the balance of the Estate. You must contact a lawyer to do this and they will be sure that all debts, mortgages, etc., are paid off and the Probate is finalized. If the mortgage is more than the monies left in your mother's Estate you still have to go through Probate so all bills are paid off, get the total amount your mother owes (hopefully you will get some money) but should her debts be more than what your mother had left in total, then you will have to go to the banking institution after Probate and take a mortgage out on that property. Be sure you have been left in the Will. If your mother has divided the Will between siblings or any other persons then I am afraid you will have to discuss the fact you want to buy the house. EXAMPLE: If the house was bought at $200,000 and your mother has a mortgage left of $60,000, and she owes taxes and other debts then unless she has other stocks/bonds/savings accounts, etc., to pay these bills off, the house will have to be sold to pay off these debts. This is when you could go into your banking insitution and ask to take over the mortgage on the house (providing the other heirs are in agreement) which I am sure they will be. Good luck Marcy

Yes, that is a very common transaction and the financing can be up to 100%.

I certainly don't see why not, of course there'd be more information needed to qualify you. Your income seems in line and your credit is excellent.

With most lenders the person who makes the most income has to go first. If the person with the lower score makes the most money they'd have to go first on the loan. You'd ofcourse want to have the person with 700 scores be the main borrower.

So the choice if the person with the lower score makes more money, either leave them off the loan and just put them on the title but not the loan. If the person with 700 scores doesn't make enough income to support the mortgage then there are other alternatives such as taking it other than full documentation, I recommend speaking to a mortgage specialist about your alternatives to that.

If you are on the title, he will have to get your signature. The fact that he got a home equity with out you signing ( assuming you did not sign ) tells me you are not on title. You would have had to sign for that also. You have to sign to every transaction if you are on title / deed to the house.

Mortgage companies or lenders essentially use two resources to "locate" derrogatory or delinquent accounts such as unpaid or past due accounts, (credit cards, loans secured or unsecured, etc.) judgements, or tax liens. Your credit report is the first one the second set is gathered from the information reported on your title search (which basically desribes where your property is located, when you acquired the property, how you acquired the property, and who you acquired the property from) This information will show any tax leins and/or judgements that you may or may not have. A title search is performed by a company or a attorney ,usually the one closing the loan...if one is required by the state.

In most cases if you bring a strong credit co-borrower into the situation you will be able to get a lower interest rate on a new mortgage. However, there are some government insured programs that do not discriminate against Bankrupts, and their rates are very competitive.

You should be able to, in most states you are allowed to borrow up 125% of your homes value. Texas is the exception, they only allow you to borrow up to 80%. You may want to look into a HELOC.

In theory, anyone can be listed on the title to a home. That is a totally separate issue from the lender reporting the payment history to the credit bureaus. I am a mortgage broker and based on your question, I have no idea how your credit score vould be improved WITHOUT you being on the loan. Why are you not on the mortgage but on the title? That gives you a lot of power over that home without any liability.

There are several, if you want I can assist you in the process. I am a mortgage banker/broker. Feel free to contact me at my office 214)607-1445. If I cant help you, then I'll at least point you into a better direction.

Yes. It depends on what type of lien it is and how old it is, but it is possible in certain situations with certain investors. If you need any help with this feel free to call my office (214)607-1445.

Well it all depends on your situation, everyone is different. Banks consider 3 main criteria for a loan: 1-Income, 2-Credit, 3-Equity. You may have great credit but are not putting enough equity down. You may be putting down a lot of equity but don't have the income to support the loan. Purchases are much more involved and completely different from refinances and some mortgage professionals don't know or just unfortunatly don't care to know. It all basically depends on what you can afford and what you actually qualify for and finding a middle ground.

It depends on the lenders guidelines, some banks will require that a certain portion of the downpayment be from the borrowers own funds. Some banks may require seasoning on the funds to close, in essence it all depends on the lender you are using. Your loan consultant should be able to tell you if a gift is ok.

Anytime you are asking for a loan of any size, including a mortgage loan, then they will take into consideration everything that you owe. So yes, if you owe money on a car, they will take that into consideration. Now, it is impossible to say whether that will tip the scale one way or the other. It just depends on how much many debtors you have, and how much you owe them, and of course, how much income you have.

It shouldn't affect your credit scores significantly enough to not enable you to purchase a home but it will affect your borrowing capacity. In lending there are certain ratios one cant exceed. Total debt load can usually be no higher that 50% of your gross income, but that can vary depending on your loan program. If you need help with this, feel free to contact me 214)607-1445.

Yes. You would need to have very strong credit scores but it is possible. If you need help with this feel free to contact me @ 214)607-1445.

A foreclosure or bankruptcy is never good for your credit, this is something you'd be better off discussing with an attorney. You can avoid foreclosure by filing bankruptcy.

A Federal Perkins Loan is a low-interest loan for both undergraduate and graduate students with exceptional financial need. A Federal Perkins Loan is made through a school's financial aid office. Your school is your lender, and it is made with government funds. You must repay this loan.

Your school will either pay you directly (usually by check) or apply your loan to your school charges. You'll receive the loan in at least two payments during the academic year.

You can borrow up to $4,000 for each year of undergraduate study, depending on when you apply, your financial need, and the funding level at the school.

No, there are no other charges. However, if you skip a payment, if it's late, or if you make less than a full payment, you may have to pay a late charge plus any collection costs.

If you're attending school at least half time, you have nine months after you graduate, leave school, or drop below half-time status before you must begin repayment. This is called a "grace period." If you're attending less than half time, check with your college or career school to find out how long your grace period will be. At the end of your grace period, you must begin repaying your loan. You may be allowed up to 10 years to repay the loan in full. Periods of deferment and forbearance (see the next paragraph for more information on these terms) do not count as part of this 10-year period. Your monthly payment amount will depend on the size of your debt and the length of your repayment period.

Under certain circumstances, you can receive a deferment or forbearance on your loan. During a deferment, no payments are required and interest does not accrue. During forbearance, your payments are postponed or reduced. Interest continues to accrue, and you are responsible for paying it.

A Perkins Loan can also be canceled under certain circumstances, such as your death or a total and permanent disability. You also might qualify for having your loan canceled because of the type of work you do once you leave school.

If you serve in the military, repayment assistance (not a cancellation, but another way to repay) may be available. For more information, contact your recruiting officer.

If you have more questions about Perkins Loans, check with the college or career school you plan to attend.

Perkins loans are the type of Federal Family Education Loan (FFEL) program which offers low interest loans to students who need finance for their post secondary education. These loans are offered by private lender institutions, guaranteed by guarantors and reinsured by the government.

Perkins Student loans is the programmed amount of loans sanctioned by the US government. However there are times when a student gets late in applying for the loan, so they have to go for private loans. And the private loans for the international student becomes easy with no cosigner loans.

First, you can check online whether your income tax refund was applied to the loan by going to https://sa1.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp. If your refund was applied to an outstanding debt to the government, the refund query will give you a number to call to check on the status of your account. Then, as to whether your loan is fully paid or not, contact Sallie Mae. You can check your loan status online at http://www.salliemae.com/get_student_loan/apply_student_loan/checking_status/.

Yes, I know all Federal Student Loans start repayment 6 months after graduation.

Your student loans are yours. You have to repay them later, so you do what you want to with them now. Yes, they are supposed to be for help in your education, but I am raising two kids and going to school only with my student loans.

The only demand by the lenders is to payoff your loans on time, otherwise you can do anything with your loan as you want.

https://www.acs-education.com/bac/FFEL/DefermentQualifications.HTML#Disability

There is a Temporary Disability Deferment Request form that you would need to fill out and have a physician sign.

This form is available at the URL above.

I was in college in 1999. I became disabled with Reflex Sympathatic Distrophy and could not continue school. I am receiving SSI. I filed the papers for the loans(4000) to be forgiven. My doctor filled out his portion. I sent it in and thought that was the end of it. Now every year I get a letter from EDS saying it is still owed. I sent them copies of my disability 3 times. It has become a bad mark on my credit. My SSI is 564 a month, my rent is 530 a month and I am trying to raise my 13 yr old son on this. The best advice I can give is BEFORE you send the letter from your doctor make several copies because each time they sell you student loan / send it to collections, they leave out the fact that you are permanently disabled and you have to go through the whole process of re-filing your disability claim.

I was in the same position.When the crediter wrote and called me I informed them of my disability and was referred to another arm of the crediter.They sent my loan back to ED's where you can begin to get your loan totaly removed after being disabled for 3 years. I am not sure how the credters work ,but when they found out my only income was SSI,which they can't touch,it was less than 2 weeks before I heard from ED's.This is a permanent disability.