Refinancing – 100 Options To Pick From

and she was to give her ex 25,000. This was ordered 3 years ago and it stated that she had 6 months to do it. Within those six months, her ex got into some legal trouble and ended up on her door step needing financial assistance. She took him in for that night and gave him a place to sleep and he told her “for helping me with my legal troubles, I don’t want the 25,000.” she did not get this in writing but he assured her that he didn’t want it because she bailed him out of jail and helped and paid to get him a lawyer. Now, 3 years later my sister in law is getting remarried and her ex, has contacted her wanting the 25,000. My question for her is “if he told her not to worry about it because she helped him with his legal troubles, can he come back now and demand the 25,000. he also left a boat on her property for 3 years and she has since gotten rid of it and he has also demanded money for the boat that he abandoned. The boat is/was not in the divorce decree. They live in Virginia. Also, how can she get his name taken off of the deed of the house. She was awarded the house in the divorce.

I have an interest only 5 year ARM, 100% financed loan. (100% financed in a single loan not 80/20). The ARM will reset next year. I am underwater by as much as 100K. The lender isn’t cooperating and I am trying my best, with the help of some organizations, to find a way to refinance my mortgage and turn it into a 30 year fixed, etc…
I will do my best to avoid a foreclosure. However, if I chose to walk away, I need to understand from now what to expect. I know that the lender can go after the buyer in Virginia (paycheck, assets, etc…)
My question is: Is this always the case? Can my mortgage be different? Can my mortgage be different because it is 100% financed or because it is interest only? How can I verify that?
Thanks for your help!!

A promissory note is signed and reviewed the day a contract is signed for services rendered to a client residing in North Carolina. Months into the payment plan stated on the contract and the promissory note, the client files bankruptcy. After receiving the court’s letter informing the creditor of the client in question filing chapter 13 bankruptcy, what is the creditor to do? Is the creditor still entitled to property disclosed as collateral for non-payment? Is it secured or unsecured? Is the chapter 13 bankruptcy basically an order for refinance? All help and advice is greatly appreciated.

We are married and getting our first home together. However, my husband’s credit is bad, we had to pay alot of his credit togehter actually. So I got a loan on the house on my name only and we are about to go to closing. At the beginning I thought that its fair that both of our names should be on the deed. Now I am thinking that it is not fair that I am going to be financially responsible for it and not him. I want to propose to him that he fix his credit, we refinance when he does so and then we add his name to the deed. I think its fair. It’s not about trust or anything like that for me. We love each other and trust each other. I dont even know what the laws are when you are married and have a house together – I think in case of divorce in Virginia it gets split anywhays both ways. I just want him to be responsible for it just like I am. I dont know how he would react Do you think I am unreasonable?

with new wife. He has 6 grown children with mom none with 2nd. Second wife is proven pathological liar and he went into the marriage with rose colored glasses on. His children could see that she was only in it to improve her station. ( She is significantly younger (50 yrs.) he is 72 and did not have a place of her own and was living with relatives at the time). We believe that she wanted to move into this house all along, however father never desired to move back in after mother’s death. His health is now failing and he does not have a will. Conniving wife felt the need to refinance the house last year, which leads to my question. Now that his death is imminent will she inherit the house no questions asked? My sister is currently living there and maintaining the mortgage with no official lease. We are all grown children with homes of our own but he has been in the hospital since before Christmas and she doesn’t even keep up appearances by visiting often. We live in Virginia

My husband and I have owned our house for about 3 years. We have gotten into a lot of credit card debt, and with raising interest rates we are unable to make even the minimum payment. We were trying to sell our house to move down to
North Carolina, but my husbands job transfer did not go through so we are stuck here. Not even one person came to look at our house. We apply to refinance with cash out to pay our credit cards off. Everything was going good with it then they found out our house was on the market for 109900, but we were told before this that it appraised for 125000. They said now they could not give us that amount. We tried another lender and they said we don’t qualify for a good rate because our house has been on the market in the last 12 months. We are now going to have to foreclose. What is the deal? Please help.

1.) Which of the nations having colonies in the New world allowed their colonists input (albeit limited) in government proceedings?
France and England
Spain and France
Only France
Only England
2.) Which statement is NOT true regarding religious tolerance in the new colonies?
Their name “Puritans” derived from their goal to purify the Anglican Church (the Church of England).
Some Puritans wanted to leave the Anglican Church and called themselves Separatists.
The Mayflower carried the Puritans to Virginia where they became known as Pilgrims.
The Pilgrims established the first Thanksgiving to credit God for blessing the harvest.
3.) The increasing prosperity of the New World colonies was primarily due to
mercantilism, resulting in a balance of trade.
the Staple Act.
the Navigation Act of 1696, which was legislated to make the mother country and the colonies rich.
the inherent wealth of the land.
4.) Which of the following is NOT one of the articles in the Bill of Rights?
freedom of religion
freedom of assembly
right to privacy
right to a fair and speedy trial
5.) Which of the following statements is NOT true regarding the Dred Scott case?
President Buchanan anticipated that the case would be decided in favor of abolishing slavery.
The court detemrined that because he was black, Scott was not a citizen and had no right to sue.
The Court’s ruling also effectively permitted slavery in all of the country’s territories.
Supreme Court Chief Justice Roger B. Taney was applauded by the abolitionists.
6.) The Corollary to the Monroe Doctrine was created by (the)
Congress.
President Wilson.
Federal Trade Commission.
President Roosevelt.
7.) The First World War was said to be the
war to stop bullying by more powerful nations.
war to stop Germany from imperialistic advancement into other countries.
war to end wars.
war to establish the United States as a world power.
8.) Which New Deal program/agency refinanced mortgages of middle-income home owners so that they did not lose their homes during the Great Depression?
National Industrial Recovery
Home Owners Loan Corporation
Federal Emergency Relief Administration
Emergency Banking Act
9.) The United States entered World War II after what attack?
Midway
Pearl Harbor
Coral Sea
Bataan
10.) Truman’s 21-point plan for reform was called the
Plain Fare
Fair Deal
Second Fair Deal
Second New Deal

Ok. This is a very long Question, so anybody that takes time to read it, and answer it to the best of their knowledge, i just want to show my gratitude up front. I greatly appreciated it. & I want to also ask that i keep this question intended for the more experienced, Best answer people, Bankers, Realtors, Loan People, Finance Advisers, & People with similar situations, or know people with similar situations. Etc….Thank you!
Okay here we go…
My Fiancé and I and one of her friends want to by a house, In Virginia. No first off, im kinda out the picture here. I have a couple of small collections to my name, as well as not enough credit. So this is all about my Fiancé, and here friend. My fiancé is 23, and her friend is about 52. They have become very close friends, both need places to stay here soon, and want to buy a house. Now They are working with a current realtor in there area, and he has ran both of their credits. First off the loan that they are applying for was called a FHA & USDA Loan which is from my understanding a loan that they dont have to pay back. A government loan. & They got approved! Now my fiancé, and ill go ahead and say her name…Meghan could get approved for 75,000 herself. Now of course we want a little bit better of a house. With Her friend Karla (the 52 year old lady which is like a mother to us) With her and Meghan together, They said that they can get approved for 128,000 max. Meghan’s credit stands at about a 665 right now, and im not sure about Karla’s. Its in the 500’s. Meghan makes about 1,400 a month, and Karla makes about 900 a month. We have roomies that we trust that are going to rent the rooms out, so payments shouldn’t be a problem. Now heres where it gets tricky. Meghan has about 6,000 dollars in credit card debt. Karla….im not too sure. What the realtor said was that Karla needs to get her credit up a few notches to get them both qualified to get the $128,000. He said try going to a Bank of America and getting a $300 credit card and just use it, and make the payments, and it would hopefully be enough to boost her credit up enough. (That’s how close it is). But she didn’t get approved. Both stay in an apartment. Another one was that if she could get her son (which she co-signed for on a car a while back) to refinance, and get her name taken off, then, it would probably also be enough. But he son sadly disowns her now….Garbage!! But anyways…so they are kinda in a situation where they are so close, but yet so far away from getting one. & In the area that they are in, 128,000’s pushing it enough as it is, for a suitable home (set to be in for long term.) Now Meghan on the other hand…oh yeah now the other option was, that they could get it in the FHA loan which i believe requires a 3% down payment. Which unfortunely we do not have at this time. So The USDA is what we are shooting for…Now Meghan is Maxed out on Getting anymore loans, although she always has had good history of paying her monthly credit card bills, or debt…however you want to call it. I’m not sure about Karla. Now with that being said Meghan if all possible wants to try to go for the house herself.. she is a First time home Buyer might i add, and we have been hearing something about an $8,000 Credit that The President has in a package or something like that. We are trying to figure out how all this works, and if there are any alternatives that we have, or that we can do. We would like and need to be in a home within 2-3 Months.. Is there anything else that we can do to bump up Karla’s Credit in time enough to get the home, or if not please state a time frame if something would work or be a little bit longer of a process..for both to get the home, or Is there something that Meghan can do or try to do to find another alternative to go? We also are actually wondering if we could maybe some kind of way take the 8,000 credit thing (if that’s even true), and maybe buy the house, and use the $8,000 which we would have the 3% and qualify for the FHA loan…remember the one we need 3% down that we don’t have. Again Meghan IS a first time home buyer. (We don’t have any co-signers by the way)……They have to do it together, or just Meghan for the $128,000…We are stumped!! I tried to give as much needed information as possible for the best accurate answer. All Opinions, answers, and explanations, & ideas, will be greatly appreciated!! & if you have any more questions that you may need to know, I WILL do my best to answer when i sign back on. Thank you very Much!!

It’s almost impossible to answer this question without more information.
Generally, refinancing can lower your interest rate and payment if your mortgage interest rate is higher than the rates at the time when you refinance. It’s that simple. For example, if you are paying 7% and current rates are 6%, then you will have a lower interest rate when you refinance! And usually, a lower interest rate correlates into a lower payment.
That said, keep in mind several factors that may affect whether or not refinancing will save you money.
How much are the closing costs? How long do you plan on staying in your mortgage? Do you want an adjustable-rate mortgage or a fixed-rate? All of these can affect your refinance.
Think of it this way. If refinancing saves you $150 a month, but costs you $2000 in closing costs, you’ll need to stay in your mortgage at least 14 months just to break even (14 x 150 = 2100).
And regarding whether to pick an adjustable or fixed rate mortgage, that again would depend on current rates and how long you plan to stay in your house. If you know you want to move within 3, 5 or 7 years, you can usually get a lower rate with an adjustable mortgage.
This is a long answer to your short question, but my point is that there are so many factors to consider that there is no one easy answer.
You’ll have to talk with a trusted mortgage professional to get a truly accurate idea if refinancing will lower your rate and save you money.
I hope this information was what you were looking for.

My current mortgage is through Wells Fargo. We have a local office in the town I live in but would I get lower interest rates by going to a bank and letting them sell my mortgage if they want or if I went directly to them?

Hi, I bought my house in 2006 for $450k with no down. Interest rate for the first loan (80%) is 6.5% and I got the 2nd loan with 9.5%. Now the estimated home value is ~$400k. I know the interest rates these days are less than 5.5%. Can I get a refinance?

can you get a modular home refinanced fha in north carolina. i do not know why you couldn’t because they are built to higher standards than stick built homes .modular homes are built to hud standars not you local codes. if anybody know let me know where you can get this done

Ok. This is a very long Question, so anybody that takes time to read it, and answer it to the best of their knowledge, i just want to show my gratitude up front. I greatly appreciated it. & I want to also ask that i keep this question intended for the more experienced, Best answer people, Bankers, Realtors, Loan People, Finance Advisers, & People with similar situations, or know people with similar situations. Etc….Thank you!
Okay here we go…
My Fiancé and I and one of her friends want to by a house, In Virginia. No first off, im kinda out the picture here. I have a couple of small collections to my name, as well as not enough credit. So this is all about my Fiancé, and here friend. My fiancé is 23, and her friend is about 52. They have become very close friends, both need places to stay here soon, and want to buy a house. Now They are working with a current realtor in there area, and he has ran both of their credits. First off the loan that they are applying for was called a FHA & USDA Loan which is from my understanding a loan that they dont have to pay back. A government loan. & They got approved! Now my fiancé, and ill go ahead and say her name…Meghan could get approved for 75,000 herself. Now of course we want a little bit better of a house. With Her friend Karla (the 52 year old lady which is like a mother to us) With her and Meghan together, They said that they can get approved for 128,000 max. Meghan’s credit stands at about a 665 right now, and im not sure about Karla’s. Its in the 500’s. Meghan makes about 1,400 a month, and Karla makes about 900 a month. We have roomies that we trust that are going to rent the rooms out, so payments shouldn’t be a problem. Now heres where it gets tricky. Meghan has about 6,000 dollars in credit card debt. Karla….im not too sure. What the realtor said was that Karla needs to get her credit up a few notches to get them both qualified to get the $128,000. He said try going to a Bank of America and getting a $300 credit card and just use it, and make the payments, and it would hopefully be enough to boost her credit up enough. (That’s how close it is). But she didn’t get approved. Both stay in an apartment. Another one was that if she could get her son (which she co-signed for on a car a while back) to refinance, and get her name taken off, then, it would probably also be enough. But he son sadly disowns her now….Garbage!! But anyways…so they are kinda in a situation where they are so close, but yet so far away from getting one. & In the area that they are in, 128,000’s pushing it enough as it is, for a suitable home (set to be in for long term.) Now Meghan on the other hand…oh yeah now the other option was, that they could get it in the FHA loan which i believe requires a 3% down payment. Which unfortunely we do not have at this time. So The USDA is what we are shooting for…Now Meghan is Maxed out on Getting anymore loans, although she always has had good history of paying her monthly credit card bills, or debt…however you want to call it. I’m not sure about Karla. Now with that being said Meghan if all possible wants to try to go for the house herself.. she is a First time home Buyer might i add, and we have been hearing something about an $8,000 Credit that The President has in a package or something like that. We are trying to figure out how all this works, and if there are any alternatives that we have, or that we can do. We would like and need to be in a home within 2-3 Months.. Is there anything else that we can do to bump up Karla’s Credit in time enough to get the home, or if not please state a time frame if something would work or be a little bit longer of a process..for both to get the home, or Is there something that Meghan can do or try to do to find another alternative to go? We also are actually wondering if we could maybe some kind of way take the 8,000 credit thing (if that’s even true), and maybe buy the house, and use the $8,000 which we would have the 3% and qualify for the FHA loan…remember the one we need 3% down that we don’t have. Again Meghan IS a first time home buyer. (We don’t have any co-signers by the way)……They have to do it together, or just Meghan for the $128,000…We are stumped!! I tried to give as much needed information as possible for the best accurate answer. All Opinions, answers, and explanations, & ideas, will be greatly appreciated!! & if you have any more questions that you may need to know, I WILL do my best to answer when i sign back on. Thank you very Much!!

We bought a title insurance when we first got our home loan. We are now refinancing with another bank and they are requiring us to get a new title insurance. Is this right?

i also need to know what’s in it for me when i refinance my home mortgage.

It can be used for many reasons. It can be used to lower your interest rate which will lead to a cheaper payment. In many cases if you’ve had your mortgage long enought if you refinance you will be making payments on a smaller loan amount therefore makiing cheaper payments. It can also be used to consolidate credit cards and car loans. Most of the time credit cards can range from 12-25% while mortgages range from 5-8%. It’s a no brainer since you will save hundreds of dollars monthly and finally pay-off those credit cards where you’re only paying interest that’s accumulating. If you have no credit cards then it can be used to get some money out of your equity to invest, do home improvements, or anything where you will need a big chunk of money without having to worry about a ridiculous loan or credit card. You will be surprised to since in many cases for a couple more dollars a month you can reduce the amount of years of the life of the loan. If you have any questions feel free to contact me.

Hello
I am living in Virginia. Year 2008 I purchased a house ($300,000.00)-Lender was BB&T Bank. Couple months later I decided to build my dream house. I contacted BB&T Bank (same lender) loan officer to apply for the construction loan. I wanted have $500K for C.L. At the settlement I found something that Bank approved $800K and paid off my existing loan of $300k and gave me $500k.I asked loan officer that why he applied $800k instead of $500k. I wanted have just $500k for C.L. It looked like they refinanced existing mortgage and gave me a C.L. which I didn’t request. He answered that to apply for the construction loan, lender must to close existing loan first (refinance) and approve C.L.
I had no choice but to trust him.
I don’t know. Is this right way to do it? Was he right about that?
*I believe I paid more money (closing cost) because of the volume of the loan.
Thanks.

I believe you can. I work for a mortgage company. Perhaps we can help you.

since alot of ppl is giving up their house,then wouldn’t it be easier to refinance home mortgage???

Emma without knowing the following, there is no way any of us can give you a realistic answer:
1. current interest rate
2. prepayment penalites, if any
3. how long ago was the mortgage originated and did you pay points
4. current costs for re-fi: appraisal fee, loan document fee, credit report fee, points etc.
5. balance you are trying to re-fi
You have not given us near the info needed to give you a good answer