Reverse Mortgage

mrfixit6549 asked: I’m going to be putting my house on the market soon. Should I pay off the cards now or wait til I sell the house? I expect to make enough to pay off mortgage AND outstanding cards but would like to pay cards sooner.

Sarah J asked: I am trying to compare these 3 loan offers. I think I have figured that in the long-term 30 yr life of the loan, the 80/15/5 loan will save us the most money. I want to see if we sell in appx. 8 yrs, which is the best choice for us. We [...]

waddle02 asked: Say the 2nd mortgage is substantially less than the value of the house. Let’s say the value of the house is at $300k, and the first mortgage (the one on the house) has $40K left. You take out a home equity of $20k. What happens if you default on the home equity, since [...]

Cookie On My Mind asked: We just closed on our townhome this past Friday. We ended up with less money than we had hoped for because the closing costs were so high. We’re due to close on our new single family home August 10th and those closing costs are going to be higher than we [...]

pez_05 asked: I am selling my home by owner & willing to carry the 2nd mortgage for the buyer for 2 years. What do I need (e.g. forms) to get this process started, Can title do all the paperwork, what interest is the norm to charge, closing costs, etc. Please provide details. Thanks.Content for WordPress

jafco13 asked: My friend currently has an ARM mortgage and is in bankruptcy. She needs to know if there is anyway for her to get a second mortgage or to refinance the mortgage she has right now while going through bankruptcy. I told her I didn’t believe she would be able until after the bankruptcy [...]

Mike asked: I am currently thinking of selling a property and the purchaser wants me to hold a 2nd mortgage. What are my rights if foreclosure was to happen? Can I buy out the mortgage from the first holder? If I can’t I will most likely lose my mortgage? I don’t think it will happen [...]

insurancelawcase asked: How to settle 2nd mortgage for less than full balance *IF* deed-in-lieu is approved already? I was never late but applied for Deed in lieu with Countrywide. Now they approved the DIL but now I want to keep the property but settle the 2nd mortgage? How is it possible?Create a video blog

AndiG1 asked: Have a $9500 second loan on house and would like to buy another. Need to sell the first one and getting rid of 2nd mortgage could make a big difference in it selling quickly. Any advice other than renting first home?Content for WordPress

Michele K asked: I’m trying to look at all options here…my 1st mortgage is at 160K and my 2nd is at 40K. With the market, currently it is worth around $190, so I can’t refi them into one fixed loan. They are going to adjust in January 2010 and I’m trying to get this sorted [...]