Posts Tagged ‘first mortgage’
Wednesday, August 11th, 2010
I see that home equity line of credit has a larger interest rate. However, if I were to take out a 2nd mortgage, are the rates the same as a first mortgage for that day?
Also, are there closing costs on a 2nd mortgage and are they relatively the same?
Tags: closing costs, equity line of credit, first mortgage, home equity line, home equity line of credit, interest rate
Posted in 2nd mortgages | 1 Comment »
Monday, June 21st, 2010
Ok a few years ago i took out a 2nd mortgage on my home. My first mortgage is for about 220K and my second is for about 60K. What happens if i stop paying for the 2nd mortgage and only continue paying for the first mortgage. Can i still be evicted? or will they just put a lien on my home?
Tags: first mortgage
Posted in 2nd mortgages | 1 Comment »
Saturday, May 22nd, 2010
My wife bought a home that was appraised at 5,000. The mortgage company had her put down ,000 in cash and then financed the home by giving her a fixed rate first mortgage for 0,000 and then at the same time gave her a variable rate Home Equity Line Of Credit against that same house she was buying for 0,000 to use to finance the balance. This just seems really odd to me.
First, in essence it appears that they let her borrow 0,000 against the equity of a home she didn’tt even own until after all the money had changed hands.
Second, since she only put ,000 cash down and the combined loan balances add up to almost 100% of the houses appraised value then how was there even any actual equity in the house to borrow against in the first place?
Can anyone can say if this was a proper way for an OCC regulated nation bank to make a home loan? What kind of state of federal office can I check with to see if this was in any way predatory or improper?
Thank you.
In responce to double checking facts.
The appraisal was for 5,000 and the sale price of the home was 4,900.
The second loan came with a checkbook, all papers say that the second loan is a variable rate home equity line of credit and the approval letter states, You have been approved by (bank name) for a home equity line of 0,000. This transaction will occur simultaneously as the first mortgage loan. The first mortgage loan request was based upon a home equity maximum disbursement of 0,000 at closing
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Tags: approval letter, checkbook, disbursement, equity line of credit, first mortgage, fixed rate, giraffe, hard case, home equity line, home equity line of credit, home loan, letter states, loan balances, loan request, managers guide, money, mortgage company, mortgage loan, occ, rate home equity, responce, s green, torrent finder, variable rate
Posted in home equity finance | 1 Comment »
Sunday, April 18th, 2010
what happen on my 2nd and 3rd mortgages? They can harrass me to pay them eventhough the value of property is underwater and not even enough to pay the 1st mortgage?How can I settle this?Does my 2nd and 3rd mortgages can sue me?
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Tags: bad credit home mortgage loan, beads, bikes, credit mortgage, credit mortgages, first mortgage, goldman, home loan, home mortgage loan, loan modification, mortgage, mortgage interest rates, mortgages, pieces of home, risk, shuffle, signs
Posted in 2nd mortgages | No Comments »
Friday, April 16th, 2010
We have about 8 years left on our first mortgage (owe about 64K) and just refied our second (at 98K) for 15 years. Since we have at least 15 years left on the second, would it make sense to refi them both for 15 and get lower payments? The first is 4.875% fixed and the second is 3.09% variable…
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Tags: 19 years, 19th anniversary, 8 years, 98k, astronomers, b tree, bc mortgage, blue star, brother, bumble and bumble, channel documentary, cr, creative concepts, eden, first mortgage, first time buyer, lance corporal, loan advice, middlesex county, mortgage broker, mortgage loan, mortgage rates, ounce bottle, reuters, tree index
Posted in 2nd mortgages | No Comments »
Monday, April 12th, 2010
Does the collection agency have the right to foreclose, or is it considered an unsecured debt? We are facing foreclosure with first mortgage. We are about k underwater with the first mortgage. If the house is foreclosed, there will be nothing left of the house for the second mortgage. House value has plummeted nearly 0k. Husband lost only employment after 10 years. One son is disabled and recently found out another has brain damage (may require surgery). I have been in charge of getting them to all their medical appointments (4x a week). We have considered declaring bankruptcy. We have no assets except for a 401k, and a 12 year old car. I live in FL. Can the collection agency garnish wages when my husband finds another job? Would bankruptcy discharge this debt?
Tags: 10 years, 401k, assets, brain damage, declaring bankruptcy, facing foreclosure, first mortgage, foreclose, job, medical appointments, second mortgage, unsecured debt, wages
Posted in no equity home loan | 1 Comment »
Wednesday, March 31st, 2010
My first mortgage was payed off and for the equity loan I payed some of the money and they closed the account. I need to know how to file my taxes. The accountant is telling me that I need a form 1099C and the bank is only giving me the 1098.
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Tags: 1040 blues inc, accountant, auto loans for college students, chartered accountant, credit card debt, equity loan, financial accountant, first mortgage, form 1099c, fullerton ca, home equity lines, home equity lines of credit, Home Equity Loan, investment credit, loan modification, loans for college students, making money online, money, mortgage foreclosure, mortgage mortgage, mortgage question, salient features, second mortgage
Posted in Home Equity Loan | No Comments »
Friday, February 26th, 2010
Is there a web page that explains, or does anyone know how I handle the second mortgage on a short sale? I’ve done a few short sales, but only with a 1st mortgage. I’ve tried a few with a second mortgage and I was told by the first mortgage, that the max they would allow the 2nd to get was ,500. Another time, I was told by the 2nd that they wanted ALL of their money. They (HSBC) said that if they are going to lose out in getting paid, then why help the owner and out let the owner get away scott-free.
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Tags: 2nd mortgages, canada money, casual dresses, commodity options, common misconceptions, debt problems, equity line of credit, first mortgage, first time home buyers, home equity line, home equity line of credit, home mortgage rate, low tide, money, money from home, mortgage terms, scott free, scott sigler, second mortgage, time home buyers, web page, web page maker, web site evaluation
Posted in 2nd mortgages | 1 Comment »
Wednesday, February 10th, 2010
hi , this is a newspaper ad to the house of my dreams and my husband and i would like to bid on it but we’re unsure because there are two different amounts listed could someone please help me understand exactly what this listing says ? what amount is the bidding going to start at ? and what does each amount mean ? also what is the process in bidding on a home at a public auction ?
thanks so much
SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF COLUMBIA MID-HUDSON VALLEY FEDERAL CREDIT UNION, Plaintiff, against NOTICE OF SALE Index No.:2009/6211 ROBERT M. DAULEY and NANCY L DAULEY, Defendants. In pursuance of a Judgment of Foreclosure and Sale, entered in the above-entitled action and bearing date the 19th day of October, 2009, I, the undersigned, the Referee in said Judgment named, will sell at public auction in the corridor of the Columbia County Court House, in the City of Hudson, Columbia County, New York, on the 14th day of DECEMBER, 2009, at 10:00 oclock in the forenoon of that day the premises directed by said Judgment to be sold, and fully described in the attached schedule. Also known as: 23 County Route 10, Livingston, New York Approximate amount of judgment lien ,364.16, plus interest and costs. Premises will be sold subject to provisions of filed judgment and terms of sale. The Premises are sold subject to a first mortgage in the principal amount of 6,000.00 plus interest and possible collection costs. FRANK A. CATALANO, Referee CORBALLY, GARTLAND AND RAPPLEYEA, LLP Attorneys for Plaintiff 35 Market Street Poughkeepsie, New York 12601 SCHEDULE A – DESCRIPTION ALL that certain plot, piece or parcel of land, the buildings and improvements thereon erected, situate, lying and being at Linlithgo, Town of Livingston, County of Columbia, State of New York on the southerly side of Columbia County Route #10. BEGINNING at a point at a concrete monument located at the northeasterly corner of the premises herein to be conveyed and the southeasterly corner of lands now or formerly of Nordfors. Thence S 36 56 30 W 135.09 feet to a concrete monument and along land of Nordfors, thence S 35 37 00 W 73.91 feet along lands of Nordfors to a pin; thence S 54 13 50 E 104.50 feet along lands now or formerly of Albert Bender; thence N 36 26 40 E 210.00 feet to an iron pin along lands of Kanapes; thence N 54 50 50 W 104.42 feet to the point or place of beginning. All as shown on a map entitled Property of Angelo Rabuano, Town of Livingston, Columbia County, New York prepared by Raymond M. Lubianetsky, dated May 6, 1974 and filed June 24, 1974, Map No. 5092.
RS4T11/13,20,27&12/4#3675
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Tags: city of hudson, columbia county new york, columbia state, county court house, first mortgage, forenoon, gartland, hudson valley federal credit union, judgment lien, livingston new york, llp attorneys, mid hudson valley, mid hudson valley federal credit union, new york county, o clock, poughkeepsie new york, public auction, street poughkeepsie, supreme court of the state of new york, town of livingston
Posted in columbia home mortgage | 1 Comment »
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