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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 … Read more

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

“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 … 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 … 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 … 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 … 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 I scheduled to have a full payment electronically withdrawn from my checking acct this thursaday, aug 4, 2011, with the assistance of a GMAC representative via a phone call to GMAC.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 … Read more