Bought an investment property in Detroit and unable to find a stable renter. Lender won’t foreclose or do a deed in lieu of. $ 69000 owed on mortgage even though house is definitely not worth that now. Lender threatening to send it to collections. House is and has been on the market for months.
Apr 212012
Feb 042012
How much does a mortgage broker make off a refinance loan? vs How much does a bank employee doing a refinance make off a refi loan? Besides ideal credit scores, what steps can be taken to ensure getting the best possible rate?
We have been pre-approved by a mortgage company. The mortgage company has recommended a real estate agent. I am a little leary of going with this real estate agent, however, because, being a first time home buyer, I need a lot of guidance. I am afraid that, being tied to the mortgage broker, the real [...]
I’m currently on a repayment plan on a rental property for the 1st mortgage. The 2nd has been charged off by EMC mortgage and sent to an outsourced collection company called LCS. Does anyone have any experience on how to deal with LCS and what rights I have to settle this 2nd mortgage. Can they [...]
Come on. Has anyone out there done this recently without paying over 10 grand in closing to some greedy mortgage broker or bank?! I have good credit. I just need to reduce my mortgage payment to about $ 1000. It’s currently at $ 1500. I could do interest only as I don’t plan on staying [...]
It seems that when I call to inquire about these good deals (for example, really low rates with 0 points), I am always told something like, “Well, that deal is for something else.” How does one get an accurate mortgage quote online from these sites? Or is it impossible to get an accurate quote without [...]
I heard on NPR that mortgage brokers who made a lot of money during the housing boom are now making a lot of money doing loan modifications. How is loan modification lucrative? How do people get paid to do loan modifications?
I just did a short sale on my home about 2 months ago. I want to purchase another home because of the deals in the market place. How long do I need to wait and are there any mortgage companies that are willing to work with individuals in my situation? My credit score dropped to [...]
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