Question: Dear Steve, My mother has severe Alzheimer’s, and I am her legal Guardian. When she was starting to get Alzheimer’s, she charged up her credit card to the point that it would have never been paid off. When I found out about it, I decided not to spend all her money to pay for … Read more
Question: Dear Steve, We have 12 yrs left on our 1st TD. It’s an ARM with a current rate of 2.75% and adjusts annually in June. We also have a HELOC with the entire 50k balance due as a balloon payment in 2023, interest-only payments at 4.5% until then. We presently have a fair credit … Read more
Question: Dear Steve, I purchased a house using my VA. The VA appraiser appraised what wasn’t there. However I after moving in found out it required over $30,000 in permits, plans, and work to be livable, without penalties or fines. I asked Veterans United what to do; they told me to deed in lieu. The … Read more
Question: Dear Steve, I bought my house in 2006, right before the first recession. In the midst of the chaos, I got a lawyer to get a loan modification, which allowed for annual increases to my APR. It went from 2% to 5.125% loan in 5 years. I currently owe a total of $255,640. The … Read more
Question: Dear Steve, The loan was modified Added 10 years to the loan, and the interest rate is 9.9%. All attempts to refinance are just acts and an attempt to get me to sign a “non-home” mortgage. I did have a fixed-rate mortgage, and now it’s a variable rate. Very seldom do they pay any … Read more
Question: Hi Steve, My wife and I are in a pickle. We own a home in Wasilla Ak but live in WA state. We have owned the home for over 10 years and owe around 240K on it still. My tenant wants to purchase the home, and we have an assumable loan, but Wells Fargo … Read more
Question: Dear Steve, When I first started college, 18 years ago, I borrowed money from Sallie Mae/Navient. It was a private student loan and had nothing to do with federal funds. Life happened and I was no longer able to make payments on the accounts. They would not let me consolidate or refinance. I quit … Read more
Question: Dear Steve, Part 1: Reaching out for help July of 2007, I made a loan of seven hundred thousand (interest only) with IndyMac Mortgage Service. I secured the loan with my property which is a duplex. My family and I live in one unit and the other unit rented out. I borrowed this money … Read more
Question: Dear Steve, In 2009 I took out a 2nd mortgage on my property to pay off debt. Six months afterward I lost my job and couldn’t make my payments. I filed Chapter 13 bankruptcy in 2011 in order to save my home. My case was not discharged because I failed to submit my tax … Read more
Question: Dear Steve, I desperately need to remodel 2 bathrooms and my kitchen. have had leaks and there is damage that needs to be repaired. It can only be done with remodeling. I received an ad for Unison, a company that you don’t pay back or until you sell or a specified number of years. … Read more
The U.S. District Court for the District of Nevada has ruled in favor of the Federal Trade Commission in a case against the operators of a scheme that deceived financially distressed homeowners by falsely promising to make their mortgages more affordable. The defendants also charged consumers illegal advance fees and unlawfully told consumers not to … Read more
Question: Dear Steve, I opened a Home equity line of credit 13yrs ago with Bank of America. Seven years ago the account was closed because I got behind in payments. Five years ago is was charged off as bad debt. On the credit report, the amount says $42,000 owed and a lien was placed against … Read more
Question: Dear Steve, Defaulted on my RI condo mortgage in 2013. I am being chased by a Dallas based debt agency for $55,000 for a shortfall in the value of the condo. I now live in NC. I have spoken to them on the phone and explained that I do not have that kind of … Read more
Question: Dear Steve, My husband and both work and we have a combined income of 91,000. My husband took a cut in pay when we lost his job. We have excelled credit. Due to some not so sound decisions, we refinanced for 30-year mortgage. We did try applying for HARP but stated we made to … Read more
Question: Dear Steve, I saw a question on your site about Camden Legal. Warn people to stay away. They changed their name to Westwood legal & had me pay $4000 in upfront fees for getting me a mortgage modification. It ended up with my having to hire a Florida foreclosure attorney to defend me against … Read more