Home > Author Archives: Andy Faria

Author Archives: Andy Faria

How Can We Get Our Short Sale Approved Fast? – Mary

“Dear Andy, I bought my house 5 years ago at the peak of the housing market and live in MD. I have a NC interest only 10/1 ARM and have been unsuccessful at refinancing or any loan modification over the last 2 years. My husband has an opportunity to attend a PHD program in FL in the fall, so that ... Read More »

How Can We Get Bank of America to Modify Our FHA Mortgage. We Make Less Now. – Dana

“Dear Andy, I was injured and out of work for over a year,and required surgery. My husband was a truck driver, and leased a truck, that was new, and kept breaking down. He could not hardly make enough money to pay the bills,except the mortgage payment. We had to also let a car go back to the bank. We had ... Read More »

We Are Trying to Buy a House With a Short Sale But It’s Going Nowhere. – Joy

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“Dear Andy, We are buyers. We have placed more than two offers on a short sale. First time, we were apparently out-bidded. Second, house was taken off market, then placed on active status and our #2 offer was put through with the Sellers paperwork to the bank. It was “accepted”. Offer made in October of last year. It is now ... Read More »

How Do We Refinance Our Interest Only Mortgage With Bad Credit? – Morga

“Dear Andy, We have a loan through American Home Mortgage I assume this is Bank of America. Right now it is an interest only loan with a rate of 6.75. There is no way to get it refinanced right now as credit ratings are poor. We have concentrated on getting everything paid off. How would I or can I go ... Read More »

My House Was Foreclosed On But the Bank Wants Money From Me. – Xiomara

“Dear Andy, I owned a single family house in N.Y. First and second mortgage were held by chase. The house was foreclosed almost two years ago. I received a letter from an attorney in August asking me to pay 10% of the debt on the second about $10,000 now I received another letter from same firm but this time they ... Read More »

I’m a First Time Homebuyer. Will I be Able to Buy a Home After Bankruptcy? – David

“Dear Andy, Went bankrupt 2 years ago. Been a discharged bankrupt for just over a year. Is it possible to get a mortgage? I am a first time buyer and would love a house and am more financially stable than i have ever been. David” Dear David, With the mortgage products available today, there won’t be anything (that I know ... Read More »

How Do I Find Out if We Qualify for a Mortgage Modification? – Linda

“Dear Andy, We are one of the many Americans who has a mortgage loan that is much higher than our home value. If we were to sell our home today, we would take about a $100,000 loss. I would like to know where I can go to find out if we qualify for any of the home loan modification programs ... Read More »

What is a Short Sale Property and Will it Help Us?

“Dear Andy, Hello Sir. We own a second home in California (good part of SF Bay Area) with a renter. Two years ago contacted Citimortgage for loan mod but they did not help because at that time we were only behind a couple of payments. Citimortgage did offer us a fixed 5-year interest that time (not sure if that was ... Read More »

I Have Bad Credit, Little Equity, and a Lot of Debt I Want to Consolidate. – Jason

“Dear Andy, I have an existing mortgage (130k principle, 140k value) I have approximately $52,082 debt (Cars, Credit Cards, etc..) My credit scores as of 7/1 are 554,620,589 Of that $52k $26k resides in 3 creditors hands that have high interest rates (10%+ range). Only having a few thousand in equity in my home and not having a good credit ... Read More »

GMAC Mortgage is Rejecting My Full Payment. What Do I Do? – Michael

“Dear Andy, I have a mortgage with GMAC. I scheduled to have a full payment electronically withdrawn from my checking acct this thursaday, aug 4, 2011, with the assistance of a GMAC representative via a phone call to GMAC. They accepted the payment and gave me a confirmation number. This payment was set up on july, 30, 2011. GMAC called ... Read More »

I’m Separating From My Husband, Filing Chapter 7 Bankruptcy and Want to Do a Short Sale. – Tina

“Dear Andy, Originally purchased house in 1999 for 162,500. We have refinanced about three times over the years to help pay for some credit card repayment and also home improvement. The cost of refinancing has added about $10K on average each time, with the last re-fi adding on $20K (special loan because of PMI issues). (The last re-fi was done ... Read More »

Should I Do a Deed in Lieu of Foreclosure or Short Sale With Bank of America? – Pat

“Dear Andy, We originally had Countrywide Mortgage provider 2005 ( a fannie mae loan), we were then one day just notified that our new mortgage holder was Bank of America. We have been paying a PMI of around $220.00. In September of last year we filed for a short sale and were approvedin Feb, three months later now they say ... Read More »

Can I Short Sell My Home or Hand it Back to The Bank with a Deed in Lieu and Save My Credit? – Angela

“Dear Andy, In 2006, I had a house built from the ground up for my mother to lived in. I paid the mortgage every month always on time. Never missed a payment. My mother passed on 1/11/11, the house is now vacant. I put the house up for sell in March 2011. I paid 180,000 for the home and now ... Read More »

ReCon Trust and Bank of America Can’t Provide Proof They Foreclosed on Me. – Tim

“Dear Andy, I had owned a home in Oregon with a previous wife and in 2007 we divorced so i kept the house and had to refinance it into my name. By January of 2008 I could no longer afford the home and had tried selling it without any luck. The home foreclosed and was sold in September of 2009. ... Read More »

I Have a Chase Bank and IndyMac Mortgage and Need Banking Help on My Modification. – Carlotta

“Dear Andy, 1st mortgage with chase 3. something interest, adjustable, 2nd mortgage Indymac 12. something interest, fixed. No late mortgage payments, very low credit score and no equity in my home. I need wise advice on how to resolve this situation—high interest and two mortgage payments. Please give all information you have on this situation Carlotta” Dear Carlotta, Refinancing both ... Read More »

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