Mortgage

How Can We Get a Big Enough Mortgage to pay Everything Off?

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Question: Dear Steve, We owe $495k on first mortgage, $168 on 2nd. Paying at over 6% on first now. Also unsecured debt of around $100k. And we have a Rex agreement. House worth over $2 million, so there’s equity. DTI was good enough to start process, but FICO was 663, so process has dragged 6 weeks and they’re asking for ... Read More »

I’m in the Military and Lied to About My Deed in Lieu of Foreclosure

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Question: Dear Steve, I purchased a home in March 2012 while active duty military. I left military March 2013 and returned as active duty March 2013 (same month and not sure if the service member relief act can play a part in that). Divorced November 2013 and was given home. In November 2013 contacted the mortgage company and was told ... Read More »

Reader Wants a Mortgage Law Group Lawsuit Update

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Question: Dear Steve, Can you advise us readers as to the status of the CFPB case against the mortgage law group? What is happening? Answer: Dear Anonymous, So the Consumer Financial Protection Bureau (CFPB) sued the Mortgage Lw Group in 2014. See this, this, and this. I took a look at the court docket and the case is still ongoing. ... Read More »

How Can I Get My Ex-Wife Off the Deed?

Relationship Concept Couple In Divorce Crisis

Question: Dear Steve, I have been separated legally in the state of New York and I had taken my wife at the time I refinanced a rental property in Florida since at the time we lived down there that we had both had our names on the deed. She told me when we refinanced here in nyc at the time, ... Read More »

Should I Apply for a HARP Mortgage Loan?

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Question: Dear Steve, I’m recently retired and looking for ways to reduce my debt. My credit status is very good. I have a standard mortgage with Chase and am paying 3.5% interest. I’ve heard much about the HARP loan and am curious about your thoughts on applying for the HARP loan. Connie Answer: Dear Connie, You have an awesome interest ... Read More »

What Do You Know About Camden Legal Group?

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Question: Dear Steve, I gave Camden Legal Group in Beverly Hills, California, a deposit for $4,000. and gave them instructions on how I wanted to handle my lawsuit against Nationstar mortgage!!! They called me after about a month to tell me that they could try to get my loan modified since it had recently been sold to another investor, to ... Read More »

Should We Consolidate Student Loan Debt Into Mortgage? – Rhonda

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Question: Dear Steve, We are going to refinance our home, out of an adjustable rate, and wondering if we should bundle our kids’ student loan debt into the mortgage. The student loan interest rate is high and simple interest; the mortgage interest lower, of course. We are at about 50% equity. Should we continue to pay off the student loan ... Read More »

Is Camden Legal Group Legitimate?

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Question: Dear Steve, I was contacted by this law firm about getting my loan modified. They kept pushing me to pay them 4200 dollars and I informed them I was scammed by Real Estate Law Center in Los Angeles. I feel as if I am being preyed upon by the same people and it sounds similar to what Real Estate ... Read More »

Should We Rent or Buy a House?

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“Dear Steve, My wife and I are new to the area and wondering if we should jump right in and buy a house or rent. I hate to rent because I think we are throwing our money away. What do you think? David” Dear David, I can certainly understand the idea of pride of ownership and the desire to buy ... Read More »

I Thought I Had Reaffirmed My Mortgage in Bankruptcy But Didn’t

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“Dear Steve, I filed bankruptcy about 4 years ago. I thought I re-affirmed my mortgage with Citi Financial. I continued to pay the mortgage but fell behind and decided not to continue owning the house. I contacted Citi and tried to do a short-sale but it didn’t go thru. During the second attempt to sell, a water line broke and ... Read More »

I Paid Off an Old Debt But Can’t Get a Mortgage

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“Dear Steve, I made a move to another state for a new job in early 2007. By the end of summer in 2008 I was laid off from my job. I received unemployment pay but I was out of work for more than a year and a half. At the time I was laid off I had some credit card ... Read More »

We Have No Savings, an Underwater Mortgage, and the Car Just Died

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“Dear Steve, I have $11,000 in debt, no emergency fund; home seriously underwater; car died and employer just dropped our healthcare coverage, which looks like it will add another $500 to my monthly expenses. It looks like I need to address 3 of the aforementioned expenses immediately; how will this impact my credit score or what strategy should I do ... Read More »

Foreclosure and Bank of America Walked Away From My Mortgage

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“Dear Michael, We were flooded in 2008. Countrywide agreed to an extension during rebuild adding payments to end of loan. They then sent paperwork back with VOID written in sharpie. We were denied any modification, etc. This went on for 4 years. We sent in payments, they sent them back. The house went into foreclosure and a deed of foreclosure ... Read More »

Is Real Estate Law Center in Pasadena, CA a Scam? – Roland

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“Dear Steve, Is real estate law center in Pasadena Ca a scam? I want info on a case that they have won, but can’t give me any info. They want me to pay money up front. They do not sound like a “real” company.Do you have any info on these people if they are legit? They said that I would ... Read More »

My Son Has HIV and My Husband Fled the Country. My Debts Scare Me. – Suzanne

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“Dear Steve, I am a 63 year old woman with a 27 year old son that is not in the best of health, due to his HIV positive status. My husband fled to Canada, after an arrest for domestic violence. I am now locked into an interest only mortgage, and even if I did pay a little more each month, ... Read More »

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