Question: Dear Steve, What can you tell me about Rockingham Equity PMA for mortgage help? Friend Answer: Dear Friend, The name doesn’t ring a bell. The most I can tell you is what I can find online. But if you want to do your own research, I recommend you read the following free guides. The …
Q: Is it legal for a mortgage company to all of a sudden demand a deferment balance from 10 years ago now, or will they foreclose on the home I am one month behind on the monthly payment? A: That sounds a lot like a balloon mortgage (a mortgage in which a large portion of …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …