Reverse Mortgage

kbemje2000 asked: Current home valued at $350,000 and is free and clear. We will sell this home and buy a retirement home in North Florida.The home we want to buy is $500,000. Should we take part of our 401k stash of 2.4 million and pay it in full OR have a mortgage for $150,000?Content

Bryan N asked: I have two properthy. On one property I have two mortgage lender. If I were to forclose on my house, can the lender from a second mortgage put a lean on my current house?Content for WordPress

Victoria L asked: If you are up and current on your 1st mortgage and your 1st mortgage is 75% of your homes value, can a second mortgage with only %25 of value foreclose on you and obtain the property? I know they can lien against the home, but not quite sure on the actual obtaining [...]

pnut58 asked: My husband and I bought a manufactured home back in 2001. Unfortunately, we were very inexperienced and did not understand that having money down at closing was so important. At the time, we also had bad credit, but the dealer was determined to sign us. We ended up buying down 7 points and [...]

sarah asked: AThe debt would be forgiven by the store owner. BThe debt would be turned over to the government to enforce payment. CThe debt would grow larger and be added to current debt.Website content

ByeBye asked: Because house prices have dropped, and I have a home equity loan also, I will probably be upside down on my mortgage (meaning my house would probably sell for 30K less than what I owe). What options do I have? Can they some how roll the 30K into the new loan? Should I [...]

Big D asked: Looking to purchase a small property in the region of £100,000 and have 10% deposit avialable. I am looking for interest repayment only over a 20 year period.Content – Members-Only Content for WordPress

SH asked: Hi, I bought my 1st house in 04/1998, and lived in it until I sold it in 02/2002. I had been getting mortgage interest dedcutins on it. I bought my 2nd house in 03/2002 and had been living in it until now. I had been getting mortgage interest dedcutions on it also. I [...]

Mortgage Specialist Veronica asked: I have a client that needs to make his late mortgage payment; up to date before we can process his loan and close it. He only needs $3000. What options do we have?Website content

Sambo asked: I have a high interest rate mortgage, but I am current on it. I owe about 90% of the value. Since the gov’t is offering a mortgage refinance plan to lower the rates, maybe I should not make payments for 90 days?Content – Members-Only Content for WordPress