Posts Tagged "Already"

Q&A: With the Making Home Affordable program,can I be denied loan modification if I already refinanced last year?

on Jan 2, 2024 in Unique Loan Programs | 3 comments

Question by sar: refinance under making home affordable plan 10 points? they have a no income verification program under the making home affordable plan . so why they asking to sign a 4506-7 form ??/ i mean 4506-T form Best answer: Answer by LandlordThey want your last 2 years income tax returns and they need this before the IRS will fork them over. Give your answer to this question below! Question by : With the Making Home Affordable program, site can I be denied loan modification if I already refinanced last year? Only about 8 months ago Bank of America solicited me and offered to refinance my mortgage with the government “Making Home Affordable” program. I was struggling and it made perfect sense so I did it. Now things have gotten even worse for me and I’ve been working with a credit councilor to try to avoid bankruptcy. He suggested that I call the HUD and ask them about a loan modification. I spoke quickly with someone today, not an actual HUD councilor, that said that because I already refinanced with the program, that I’m not eligible to do a loan modification through it. Is this true!? If so, what options do I have? Can I get a loan modification without the government program? The credit councilor said that my housing costs should be about 30% of my income, and right now mine are 61%. I have absolutely no savings so I have to assume that I’m qualified for a modification. Best answer: Answer by kemperkassume nothing Add your own answer in the...

Read More

Do I have to pay monthly Mortgage Protection Insurance on FHA loan since you already pay MIP for FHA?

on Aug 21, 2023 in FHA Information | 4 comments

Verify out these chateau images: Château sur orage Image by jfgornet Château de la Bussière (Loiret) A lot more great houses click right here… Question by PhoenixJim: What lenders do an FHA mortgage with less than 3 years foreclosure seasoning given extenuating circumstances? The HUD handbook says it can be done, information pills but every lender I have talked to says they have never seen it done. Also, sick please don’t reply back with a rude remark about how people with a foreclosure never deserve to buy again, etc. Best answer: Answer by loanmasteroneAs I understand your question is you had a foreclosure about 3 years ago and now want to purchase a new home underwritten by FHA mortgage. All the mortgage brokers so far are telling you this is not done, yet the HUD handbook say it can be done. You need to find a mortgage broker that do FHA loans that understand the nuances of doing a FHA backed mortgage loan with a previous foreclosure or call a local HUD office to get an interpretation of the HUD pamphlet or a list of local mortgage loan officers that understand the meaning of the pamphlet. Normally, after 3 years and with a strong letter of explanation as to why you had a foreclosure, you could apply for a mortgage loan. Of course with the pamphlet indicating you might apply, you- must still qualify with the proper credit scores, rebuilt credit and a minimum of three credit trade lines on your credit report. You should make sure you meet the minimum qualifications prior to applying for a mortgage loan. I hope this has been of some benefit to you, good luck. “FIGHT ON” Add your own answer in the comments! AUSTRALIAN DEMOCRATS : How Many Low Doc Loans Are Unethical? – 24/08 … "The evidence put before the Senate inquiry by Denise Brailey of the Banking and Finance Consumers Support Association is damning. She asserts widespread fraud in low-doc and no-doc loan applications render them misleading and unconscionable. If you would like more informaiton please visit here… RBA exposes low-doc loans risk The Sydney conference was also told there may be a case for greater use of hard limits on lending. Low-doc loans and "no-doc" loans involve lenders requiring little or no evidence of a borrower's ability to make repayments, pharm and generally carry higher … If you would like more informaiton please visit here… ASIC says no to low-doc loan inquiry THE corporate regulator has refused to investigate a claim of alleged low-doc loan fraud despite one of the nation's top forensic handwriting experts saying there is "no evidence" the documents in question are legitimate. Businessman Gary White applied … If you would like more informaiton please visit here… Question by Anon Speaker: FHA mortgage loans & limits? We are looking into buying a new house in the mid-$ 400k’s before we sell our current home, viagra buy but this means that we would need a larger loan and that we would have less cash available up front for closing costs and downpayment. Buying before we sell our home means that after all the closing costs, story we would only have 3.5% – 4.5% as a down payment. I don’t want to give my state/city-county because that is too much personal information for a Q&A site, but I already checked and the HUD website’s FHA loan limits in the area where we would buy the new house are: FHA Forward $ 271,050 ($ 280,000) —AND— Fannie/Freddie $ 417,000. Depending on the offer that is accepted, we’d need to...

Read More

If i just bought a house 4 months ago can i already refinance?

on Jan 8, 2023 in FHA Information | 2 comments

Current mortgage interest rates advances: Citigroup Inc. (NYSE:C) takes … Current mortgage interest rates moved up on Thursday as banks adjusted their loan products to the varying benchmarks. Most banks, pilule treatment including KeyBank (NYSE:KEY), JPMorgan Chase, PNC Financial Services (NYSE:PNC) and U.S. Bank (NYSE:USB), lifted … If you would like more informaiton please visit here… Current mortgage interest rates lower: Citigroup Inc. (NYSE:C) offers new … Current mortgage interest rates declined on Wednesday as money flowed away from the government safe-havens. KeyBank (NYSE:KEY), U.S. Bancorp (NYSE:USB), JPMorgan Chase, and PNC Financial Services (NYSE:PNC) were among the banks … If you would like more informaiton please visit here… Current mortgage interest rates slightly up: Citigroup Inc. (NYSE:C) up after … Current mortgage interest rates slightly higher today as the key indexes started to shift in the opposite direction. SunTrust Banks, Inc. (NYSE:STI) and PNC Financial Services (NYSE:PNC) lifted their rates while KeyBank (NYSE:KEY) decreased them. For more informaiton please visit here… Interest rates for farm commodity loans announced "The interest rate for sugar storage facility loans during November is 2.250 percent," Olivier said. He urged anyone with questions about the current interest rates or the CCC commodity loan program to contact the St. Landry Parish FSA Office at 948 … For more informaiton please visit here… Question by cb1980: If i just bought a house 4 months ago can i already refinance? I just bought a house 4 months ago at 6.5%/30 fix through a FHA loan. Obviously rates have now nose dived, sildenafil can i refinance with another company to take advantage of these lower rates- even if its not an FHA loan? Best answer: Answer by pilikiaAs long as your loan has no pre payment penalty. FHA loans have new guidelines, medications as well. But you’ll have to pay closing costs all over again, making the re-fi pointless in the long run. You’ll save in mortgage about what you paid for closing costs twice. What do you think? Answer...

Read More

Q&A: Will it be hard to get a home loan if I already have two vehicles I’m still paying for on my credit?

on Mar 1, 2013 in Stated Income Loans | 2 comments

Question by charliesangel: Will it be hard to get a home loan if I already have two vehicles I’m still paying for on my credit? I’m trying to be a home with maybe a few thousand down. Will it be hard to do that without a co-signer? Best answer: Answer by Sunhttp://www.ordercash4free.com/?r=13039 try this site and let me know, more about prostate I’ll give you $ 10 bux if you try it. Thanks ps email me at suncorporationusa@yahoo.com when you sign up for you $ 10(you must use this exact link and sign up at the bottom of the page) Add your own answer in the...

Read More

Does anyone know of any programs out there to save a home that has already been in foreclosure for a week?

on Feb 9, 2013 in Stated Income Loans | 3 comments

Question by Jeff S: Can my mortgage broker foreclose on me? In march I did a FHA refi. the mortgage broker messed up big time on my escrow and put me in a big bind. FHA kicked the loan back and is not insuranable so the broker wants me to sign a modification agreement. I refused to sign it till they correct their mistake. They then told me that they can forelcose. Is this possible? Best answer: Answer by golferwhoworksnot the broker– FHA Know better? Leave your own answer in the comments! Question by Sana: What I need to do about my 2nd lender? I can qualify under Modification Program but I also need to lower my2nd? I can refinance my 1st loan but how I can refinance my 2nd loan? In this program is saying that you can do only 1st one? Best answer: Answer by debijs~~Contact the lender who owns your second. Tell them of your financial hardship. If it is through a bank, visit they are suppose to send you information for a loan modification also. Good luck~~ Know better? Leave your own answer in the comments! FHA Streamline Refinance Without Credit History Known as a quick and easy process, more about the FHA streamline refinance is available without the need of a credit history. The FHA streamline refinance is available to homeowners who want to refinance their existing FHA loan. Because FHA wants homeowners to … For more informaiton please visit here… How do I handle a short sale and FHA loan? With FHA short sales, the usual process you must go through involves two levels of negotiators to get approval from the U.S. Department of Housing and Urban Development (HUD). From my experience, it always seems like each level of the negotiation phase … For more informaiton please visit here… Finance Committee Chair Suggests FHA Could be Next Countrywide In its current form FHA is clearly an impediment to such a system. " The Chairman said FHA had strayed far from its original purpose and no longer focuses on low and moderate income Americans but rather caters to a risky market with high loan limits … If you would like more informaiton please visit here… Question by sam: Does anyone know of any programs out there to save a home that has already been in foreclosure for a week? The type of the loan is FHA and I have few months left and unable to get help on any government programs out there. Your feedback is greately appreciated. Best answer: Answer by BeckyThere are all kinds of programs out there — but, approved you have to Qualify for the assistance. To do this there has to be a hardship but there also has to be an income. The investor is not going to modify the loan if there is no income or not enough income to support a monthly payment. The first thing you need to do is gather your general monthly expenses. List all of those on a sheet of paper. By *general* I mean utilities, groceries, cell phone/cable, credit card, tuition, personal loans, car payments, etc. Also add in your mortgage payment. Subtract all that expense from your monthly income.. Is there a deficit or surplus? If there is a deficit that is more than $ 100 what is it and what unnecessary expense can go away to bring you to a surplus situation? Is there a car payment somewhere? Are you paying high monthly payments for credit cards? Maybe BK is the way to go for those types of expenses, but...

Read More