Posts Tagged ‘Payment’

FHA Streamline Refinance FAQ — Payment History?

Find out if you qualify now at www.StreamlineMortgage.org

CA refinance- get affordable mortgage payment

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I’ve been working with a Wells Fargo Bill Collection Lawyer, they won’t accept payment plans. (TX)?

I have been negociating with a lawyer representing Wells Fargo. I was never served papers but the judge signed off on the papers, it was ok according to the judge since they couldn’t find me. This all occurred during Hurricane Ike and they couldn’t find me due to property damage and honestly lack of trying (private server).

I used every bit of my emergency savings to get through that 3 months of no work & repairs. January (2009) I found out all this was going on and I had been *served.*. I asked for proof of debt, got it & that gave me a month. I owe about $5500 – my last offer was $1000 a month and my truck as collaterial (worth between 5 & 6K). They rejected that & only want a lump sum (same answer everytime). They want me to fill out an asset form, P&L, financial qustionaire & send them 2 years tax returns (I haven’t filled in 3 years, lack of funds for CPA). I just got the 3 years ago done. Then they *might* consider payments. Well they are going to find a lot of bad debt & One really good asset – my business property, paid in full. Or more than likely the lawyer did a search on the property tax web site and found that.

I have time & time again tried to get a loan since January – no dice. I have no equity in my home. I live in TX so my home can’t be taken, but I’m betting my shop can. It is my understanding that if this goes to court, they can force a Sheriff auction. I may be wrong. I haven’t hired a lawyer because I’m trying not to throw more money out of the window. The only person that considered loaning on the building needs me to pay up front – survey, inspections, & appraisal – I don’t have that & that would be just about what I owe!! At this point I doubt the WF lawyer will wait that long (up to 6 weeks).

Does anyone have any suggestions? I’m not about to fill out the financial statement without consulting a lawyer.

My thinking is to continue to attempt to work something out on my own and pay off the debt, rather than hiring a lawyer for ?1000? and still oweing the same amount…

ANY SUGGESTIONS, TIPS, etc. I’m at wits ends. And I’m sure they are fixing to take it to court. I know the Judge (small town) and she will force it to mediation? (this is what she usually does) & will be VERY upset if I don’t appear with a lawyer… And being a small town, everyone will know my business (all court records are printed in the paper).

One bit of background – the loan showed charged off on my credit report – I stupid & uneducated about that stuff – thought that meant it went away. I had a real hard time 4 years & have since managed to pay off everyone else, including 12K in medical bills. So my ignorance is coming back to bit me…

Thanks for your time, advice, etc..
I only owe the WF debt, 6K on my car and my home. I just don’t have cash at this point. IRS debt can’t be dealed away, but I usually pay more to the CPA than the IRS. I’m so close to catching up & can’t understand why they won’t.

Isn’t it to late to involve anyone but a lawyer at this point – it is logged in the court system.
As for the tax return – yikes I don’t understand it. I could do a simple return, but my returns end up being 1/2 inch or more thick. I’m fixing to return a 2005 one that was done for me recently. I’m able to do quarterly reports, but have no clue about depreciation, etc…. Is one able to find old tax software & attempt to do it?
My mailing address & home address are different. They went to the mailing address – which was mostly destroyed by Hurricane Ike, they never tried to serve at my home.

Mortgage calculator where you input the max monthly payment?

Hi, I’ve been looking online and can’t find a calculator where I say I can afford a total of $$$ per month (Principle/Taxes/Insurance/Interest) included and the calculator tells me how much mortgage I should take. Is there one available?

What is the amount of interest Mr. Olson owes on the next mortgage payment?

Mr. olson has a 30yr fixed rate mortgage with 6.6% APR. His monthly payment is $1272.50 and he has 10 yrs left on the mortgage (next payment is due next month)

What would be the amount of interest Mr. Olson owes on the next mortgage payment if he keeps the current mortgage?

How can I lower my mortgage payment?

I feel like my mortgage payment is too high, and it’s keeping us from doing other things such as repairs to the house. I don’t doubt that we got in over our heads when we purchased the house, and some unexpected things (such as family illness which effected household income) occurred a few years ago.

We’re over 5 years into a 30-year fixed mortgage (right at 6% interest) for a $160,000 loan. Our payment is over $1,200. Most mortgage calculators have it much less than that. I realize that our insurance is added in and so on, but should it really be that high?

We filed bankruptcy over 2 years ago, but that was mainly due to some medical issues. We didn’t include our mortgage or some other bills. We’ve made our payments every month since we’ve lived there. We haven’t had it appraised in the last five years, but I would guess it would appraise at around $180,000.

Our mortgage was through CitiMortgage (which sold to Fannie Mae).

Is there anything we can do?

Thanks in advance.

I was wondering if you are in a current bankruptcy can you refinance your mortgage for a lower payment?

Low 4.5% Mortgage Rates, Low Payment Mortgage Calculator, First Time Home Buyer Info

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Loan Modification ? Help you in critical situation of mortgage payment

When situation is beyond your control may have created a hardship for you in trying to pay your house payment in a regularly, consistent manner. You might be even facing foreclosure, but there is mortgage modification help available through the loan modification process.

You may already meet one requirement: Hardship. You must be able to prove that events beyond your control caused either a decrease in income or an increase in expenses that have made your Mortgage loan payment impossible to make.

Recently, home mortgage refinance rates have gone up by .5% or so all across the country. This was expected as the mortgage refinancing and loan modification lenders and banks were getting turned into them, was quickly piling up. They had to increase the rates a little to reduce the amount of new applications they received. Prior to the increase, mortgage rates were at all time recorded lows, and homeowners were very aware of that. Although the rates did increase, the increase should not be enough to prevent homeowners from losing their home to foreclosure. Most homeowners pay a interest rate way higher than the average rate is even after the slight increase. Those low rates though, will be offered again in the near future and here is when.

If you think about prospecting latest federal home loan modification plan they give promise to much anticipated reward for property holder that are having mortgage payments and seemingly at risk of foreclosure if they go on fighting them off. There is a recent federal program which will help American homeowners in modifying or refinancing their mortgages.

Then, cash out refinance loan may be best for you. Of course, the best way to tell is to actually sit down and do the math. These are just guidelines; the real test is in the math. You can consult a refinance calculator and a home equity loan calculator and figure out which one will save you the most money in the long run. Compare the total amounts you will spend in interest and fees. If you are planning on cash out refinance, make sure that you are refinancing with a low enough rates to justify the fees to refinance. Your loan specialist should be able to help you figure out which one is best for your needs.

In a fixed rate mortgage refinance, the interest rate remains the same for the entire term of the loan. You always know exactly how many your monthly payments will be for the duration of the loan. The advantages are obvious, you can budget your life around a fixed payment. It is usually good for a borrower who will stay with the property for an extended period of time.

If interest rates tend to rise during the early years of the mortgage, then that may be another good thing for the home loan borrower. But if the interest rates are tending downward, then locking into a fixed rate at a higher rate may not be the best fixed rate mortgage for you. When the stage is set for you to lock in the home mortgage refinance be very conscious of the rates. A difference of even an eighth of a point can cost you a lot of money over the long term.

Buying a second mortgage loan for homes has come out as a possible option for people who are unable to make the necessary first payment for the home. Initially it is important to understand how a second mortgage works. assume that you wish to purchase property and don’t have the required 20% of the sale price as the amount to make the down payment. One option for you is to opt for private mortgage insurance for the required amount.

UK Mortgage Payment Calculator For An Informed Decision

A UK mortgage payment calculator is use to show you how much you can borrow. This calculation is based on you and your spouse earnings and how much the bank or the lender can lend you. Your earnings will also be based on annual basis. Questions like how much mortgage can I afford should be answered after a UK mortgage payment calculator is done. This applies if you are in Britain. You can also use this calculator to find the best fixed rate mortgage.

Online payment calculators also give you the benefit of knowing how much is the difference between paying daily interest and paying interest yearly. Or even interest only home loan can easily be calculated.

The biggest benefit of a fixed rate mortgage is that you will come to discover precisely what your mortgage interest and principal payments are going to be and hence address your budgeting in accordance.

Mortgage loan refinancing in Britain is a good option if you get hold of decent credit, but desire to lower your monthly payments and the amount of interest that you are paying on your debts. Before looking at getting a mortgage loan refinancing in Britain, you should think carefully about your situation and the reasons behind the refinance.

In Britain, you can find a lot of UK mortgage calculator online which is very easy to use. This forms calculators can also calculate how much a couple can borrow. It will also give you how much monthly payments will expect. Online calculators can also give you the effects of changing interest rates on refinancing and loan payments. All this can be done online and some are free for you to use.

The average homeowner will keep any given mortgage seven years or less before moving or refinancing. In a declining interest rate environment, that holding period for the loan would decrease even more. If you think that you are paying tons more than the current market interest rate on your existing mortgage loan, then it is the right time for you to consider a mortgage refinance. Simply stated, home equity is the difference between how swarms your home is worth and how many you owe. Points paid on a purchase mortgage can be deducted upfront, but points paid on a refinance are handled differently. These make to be deducted over the loan’s lifetime.

To procure loans you usually desire collateral, and home equity loans are no different. Collateral is property you use as a pledge to repay a debt. A home equity loan puts your house to work for you, creating a personal loan borrowed against the value of your home. To understand home equity loans, borrowers need for to first discover the concept of equity

There is never a bad time to invest in property. Historically, property has always risen in price regardless of a certain short term trends. Although investing in real estate property is never a bad time, using UK mortgage payment calculator can offer you a lot of knowledge and information.