Reverse Mortgage

gsdubz asked: Will the second mortgage holders come after you or be able to put something (other than a foreclosure) on your credit like a judgement? Would they be ale to garnish wages or do anything crazy like that in the future? The reason for two loans was a first and second (100% loan) was [...]

cookingmomma asked: If a homeowner has a first mortgage and a second mortgage, and would like to refinance the first mortgage at different terms, can this be accomplished – does the existing second mortgage put a monkey-wrench in refinancing the first?Content – Members-Only Content for WordPress

realchineseprincess asked: if husband and wife own the house together, can one of them(without the other knows) borrow $ from bank to get equaty or seond mortgage on that house? what happens if the second mortgage couldn’t be meet and be forceclosure? Will the other perosn resposible for the laon he/she even not knowing? the [...]

m.p. asked: that also had a second mortgage on it. The new lender had the second mortgage holder sign a document stating that they would remain in second position. So the second mortgage holder was waiving their right to move into first position. What document is this?Content for WordPress

Mike asked: I am buying a house on May 29th and have taken out my mortgage from Alliance and Leicester. I was just wondering if anyone knew if I would be expected to make a payment right away on completion day as soon as i get the money or if it will be the month [...]

serhadenette asked: Our first mortgage is 225,000 and the second is 133,000 from a private lender. But the house is worth 180,000. What will happen when we do the bankruptcy? Wouldn’t a portion of our mortgage be considered unsecured?Website content

melissatraugh asked: What would need to be done here as we are now behind 2 months of payments as our mortgage jumped from $2500.00 to $3050.00 and we were looking to sell or refinance and were told the home doesn’t even belong to us. We have a mortgage, we live in the home but a [...]

Pete asked: I have a first mortgage of 149,000$ Adjustable at 9% I have a 2nd mortgage of 20,000$ fixed at 9% The latest appraisal info on my house is an estimated 165,000. What are my options? My first mortgage is currently 7.5% but it goes up to 9% in 1 month.. No one is [...]

punkinbutt’smama asked: Rather than get nothing if we file bankruptcy, would a 2nd mortgage company agree to walk away with only a few thousand dollars in a short sale? We anticipate being able to sell for $120,00, but minus realtor fees there would be $113,200 left, and the first mortgage company oluld get $107,000 leaving [...]

babilv asked: My loan is supposed to close in a few days. My first payment is showing as due in March. What happened to February payment? Thanks!Website content