agaaron asked:


My sister is trying to settle an underwater 2nd mortgage with her lender. She has remained current in all payments. Would a settlement for less than the full value of the note affect her credit?

What about if she arranged a short sale of the home? Does a short sale negatively impact your credit?

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Fgng asked:


If I get approve today for a mortgage loan, how long does it take to show up in a credit report?

Or If get approve for an Auto loan, how long does it take to post in the credit report.

The credit report that the lenders can see.

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nicky sammons asked:


I have a friend who is buying a house. He is trying to get the best rate. There are mortgage brokers that are offering a rate that is 0.125% better than the banks. Right now, that is around 6.25% for a 30 year loan at 80% financing. Are mortgage brokers the best deal? Thanks.

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tristalelyn asked:


My husband left active duty military and went back to the reserves. We took a 3,000 dollar a month paycut and are having trouble making our mortgage payments. We’ve had the house for 2 years and it’s a VA loan. Are there any mortgage payment assistant programs to people like us here in Colorado? We are trying to avoid foreclosure at all costs. If we could get help with the payments until it sells (houses aren’t selling in our neighborhood right now) we could avoid a big headache for us in the future. Anywhere we can turn to?
By the way,
No he was forced to quit active duty because he tore his ACL in PT and Tricare waitlisted a surgery and then said they wouldnt fix it. HE DID have a full time job waiting for him once he was off active duty but because of his knee not being able to be fixed, the couldn’t bring him on board as a police officer. He is currently working 2 jobs, and SO AM I despite the fact we have a 1 year old. We are overworked and getting sick and still cant make up the 3000 dollars nor afford to fix the knee. We are NOT hillbillies who dont pay our bills. We each work 60 hours a week between both of our jobs.

Atlantic City Real Estate

Gary C asked:


I funded a private mortgage loan for two individuals. Can I report this loan to the credit bureaus so it will be included in their credit score?

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Andr asked:


Am a first-time buyer. Outlay will not be more than 120K. Any information about type of mortgage and company owuld be appreciated!
No advice from 12 year old hookers, please.

Sacramento Real Estate

scipiovshannibal asked:


I’d like to know what the initial drop is in a credit score when a person falls behind on mortgage payments by one month. After the initial drop, does your score continue to drop each month you are not current or is it a one time drop? If it drops more each month you are behind, by how much?

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April asked:


Our mortgage lender has filed for bankruptcy. Our payments to the mortgage company include principle, interest, taxes and insurance (PITI). What happens to the money we have paid towards taxes and insurance ?? Since we have paid this money in advance with our payment, is the bankrupt mortgage lender required by law to pay them? If they don’t, due to bankruptcy protection, are we responsible to pay the money that has already been received by the mortgage lender?? In other words, lets say we have made payments totaling $10,000 over the last 10 months, $2500 of which is taxes and insurance. If the mortgage lender does not pay the $2500 to the insurance company and to the IRS, do we have to come up with the $2500 to pay what the mortgage lender did not ??
Our mortgage lender has filed for bankruptcy. Our payments to the mortgage company include principle, interest, taxes and insurance (PITI). What happens to the money we have paid towards taxes and insurance ?? Since we have paid this money in advance with our payment, is the bankrupt mortgage lender required by law to pay them? If they don’t, due to bankruptcy protection, are we responsible to pay the money that has already been received by the mortgage lender?? In other words, lets say we have made payments totaling $10,000 over the last 10 months, $2500 of which is taxes and insurance. If the mortgage lender does not pay the $2500 to the insurance company and for property taxes, do we have to come up with the $2500 to pay what the mortgage lender did not ??

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PrimeConcern asked:


Given all the worries about credit in this country, and subprime mortgages, I was curious as to what the entire amount of home mortgage debt is. There are about 110 million households in the country, with 70% of them owned residences. Let’s say there are 75 million owned homes. Not all have mortgages, but if 70 million do, and the average mortgage amount on such homes is $200,000, that comes out to a scary $14 TRILLION of mortgage debt in the USA. If just 2% default, the amount of bad home loans is $280 billion. It could obviously be much higher.

Does anyone know what total mortgage debt is per household and in total? This is a real problem that could damage the economy.

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tara s asked:


Hello,
Im trying to plan for a mortgage. If we had about 50k saved up and we wanted a 300k mortgage what credit scores would we need to get approved.
Lets say these are the circumstances:
husband has had a steady job for 2 yrs
Wife has been consistently working but not at the same company
income range is 70-80k a year

Thanks!

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Kara asked:


How do I get a late mortgage payment off of my credit report? I mean I’m totally current on my mortgage now. I want this off of my report. Thanks

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