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Real Estate

How Can I Qualify for a Loan Modification Program if the Home is Not in My Name? – April

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“Dear Steve, My credit score was too low so my mom decided to help me with my first condo. She took a loan under her name since I could not qualify, but I had been making the mortgage payments ever since. Our names are both on the property title but the loan is only under my mom’s name. Recently, I ... Read More »

    Will the American Mortgage Company Chase My Son to the British Channel Islands? – Linda

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    “Dear Steve, I am trying to help my Son/Daughter in law with their American Mortgage My Son/Daughter in law got caught up in a Florida buy from plan scheme and ended up with an American mortgage for $350,000 They live in Jersey in the Channel Islands, both have lost their high paying salaries and now have a third of the ... Read More »

      My Husband Was Laid Off and We Lost Our Six Figure Income. – Cindy

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      “Dear Steve, In Nov. ’07 my husband was laid off as a homebuilding superintendent. His salary was 6 figures, we were in the middle of a huge remodel on our home. The bank stopped making loans to the buyers of his homes, the job site (an entirely new community) was shutdown, he was laid off after 20+ years in the ... Read More »

        How Can We Find a Mortgage Company to Work With? – Susan

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        “Dear Steve, My husband and I have a mortgage of approx. $78,000.00 on our home. We also have a home equity debt of $50,000.00. The mortgage is a 2 year ARM and is at 3.75% as of April 2009. Our home equity is a couple of points higher. Our tax appraisal puts the value of our home at $276.000, 00 ... Read More »

          My Credit Card Payments Are Usually a Few Weeks Late. – Magic

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          “Dear Steve, We have 38000 credit card debt and make my payments but usually are a few weeks late. I have a mortgage 110 owed a home equity which was used for remodling only balance 90000 my homes worth today 310000 interest rate is 6 percent on both loans my credit score is mid 700s. I retired with a 40000 ... Read More »

            My Wife Took a Vacation in Las Vegas and Bought a Timeshare. Can We Be Sued? – David

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            “HI there Steve, My Wife and I recently took a vacation in Las Vegas and stupidly fell for a timeshare scam. We are both british citizens and are living in scotland. My wife recently lost her job and we cant afford this expense at this time, we did some research and the company told us a lot of lies anyway. ... Read More »

              Ric Edelman Says I Should Carry a Big Mortgage Instead. – Carolyn

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              “Dear Steve, I’m struggling with whether to get debt free as fast as I can or use the equity in my home and invest. I’m in the process of refinancing and cashing out $40K. I don’t have any liquid savings. I do have a little in 401K. I’m in my mid 40’s. Some say get out of debt but other’s ... Read More »

                Can I Rent Out Some Rooms in My New Home With an FHA Mortgage? – JJ

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                “Dear Steve, Purchased home under an FHA loan. Will be inspected to see if I am a primary resident in a month and a half. If this is my primary residence, am I also allowed to rent out a couple of the rooms? JJ”   Dear JJ, Well you want to be very careful that you don’t do anything to ... Read More »

                  Single Mother, Struggling, Depressed, Anxious, Can’t Sleep. – Veronica

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                  “Dear Steve, (struggling) small business owner and single mother. I owe approx 70K in credit cards & credit lines. Tapped out of credit options. In addition, I’m scared, cant sleep, anxiety, etc. I am about to close on 2nd mortgage in order to pay off debts. As an individual, can i negotiate with banks, credit card companies to reduce pay ... Read More »

                    We are Trying to Get Our Short Sale with Bank of America Completed on Our FHA Mortgage. – Shawn

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                    “Dear Steve, We currently have an FHA loan through B of A, it has been a struggle but we have remained current. We are going through a short sale currently, Bank of America is the primary & only lender involved. Our home is likely worth $80-100,000- in today’s market, but we owe $240.000. We started this short sale process at ... Read More »

                      Should We Stop Paying Our Mortgage. We Are So Stressed. – Beth

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                      “Dear Steve, A little over a year ago my husband lost his job. He got a new job two hours from our home. We were approved for and bought a home in the new town with the idea that we would be able to sell our first home. Of course, at that time, the economy took a total dive and ... Read More »

                        Home Inspection People Want Us to Pay For Services After Our Real Estate Agent Died. – Ella

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                        “Dear Steve, We tried to sell our house 2 years ago, agent agreed to pay for virtual tour, carpet cleaning and home inspection. The house didn’t sell and our real estate agent died months later from heart attack. Now home inspection company wants us to pay for the service done then. I think they couldn’t find the agent to pay ... Read More »

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