Kaydee asked:


I have a 2nd mortgage with irwin. 3 years ago i declared bankruptcy for medical reasons but did not reaffirm this mortgage. I did not know that i needed to and Irwin was not present at the hearing. they have tried to foreclose which I stopped and now they won’t let me pay off with a refinance but won’t disclose why. Anyone else have similar problems?

RUDY

bodyC asked:


Ok, this is unconventional - My mom is disabled. Her home was affected by Katrina. Her home is finally fixed. However, during the past two years, she’s accrued close to $100,000 in credit card bills to pay off some of the repairs since a lot the funds from the insurance and the government were not enough. Additionally, since she is disabled and receives little from the government, she has been unable to pay enough or on time. Her interest has gone up to 25-30% on 4 cards. I have good credit. I own a condo. I want to at least help her by getting a home equity loan (basically a second mortgage) even though I want to get a loan in a couple of years to buy a house. She’s considered bankruptcy with Chapter 13 in order to not jeopardize her home, which she paid off with some of the funds received from Katrina. It seems she has no way out; and I hate to be in this situation from my own financial balance. What can be done? She needs serious help; and I don’t want to jeopardize my credit.

WESLEY

everafter325 asked:


My husband and I bought a small house two years ago and now we have our daughter and it is just too small. We would like to add on to the back and add a second story. We have about $6,000 in equity so a home equity loan is out of the question. Is a second mortgage a possibility? Are there any other loans that I should be looking into?

Thanks!

CURT

Chris G asked:


I had a business failure that caused a personal chapter 7 bankruptcy which was discharged in April of 2007. I currently have a tax lien on the home due to some IRS penalties, interest and taxes owed from the business. I’d like to get a home equity loan to pay off this debt as well as a credit card.

Our current mortgage is at 229,000.00 and the home is valued at approximately 380,000.00 and might be worth more. I need to get 75,000.00 to pay off all debts. I qualify for an FHA mortgage, but due to county limits I can only receive 281,250.00 which still leaves me 35,000 short of paying everything off.

Should I get the FHA mortgage and try to find a small home equity loan, or is there anyone that can deal with a larger home equity loan to pay this off. My credit scores rank between 637 and 661, my wife is between 682 and 704. I currently have a great job that I’ve had for 4 years and make over 80,000.00/year.

Please help.

Thanks.

CLEO

Kelly asked:


anybody had luck with beneficial mortgage

VANCE

bren1999 asked:


We went to the bank yesterday to find out about loan options. My Mom is 80 years old and is almost broke. The banker told us that we CAN make monthly payments on a reverse mortgage. But I have been researching the internet and most sites say you can’t. So who is right?
She would like to pay off her home equity loan and instead take that money and pay the reverse loan which is only 4% interest. Meaning that the money shes paying out every month would actually bring the loan down.

JESSE

lee b asked:


I own a house free and clear, FMV about 58000.00, its a rental, score is 600. Can I get a loan? I have about 6K in 401K. All my money is in the rental house.
Any suggestion of who I can go to. I am willing to use house as collateral

JACQUES

badgirl asked:


BadGirl has an idea. What if I dump all of my student loans into a refinance and/or home equity (on property I own, but need to unload), and then I decide to bail on that property. It will take me a good 20 years to pay off my large student loan, but how long will it take to recoup my credit rating if I do this? BadGirl thinks it will take longer to pay off the student loan, than rebuild a bad credit rating (and get rid of the student loan debt for good).
Comments/suggestions?
BadGirl was not considering a bankruptcy, just giving the property back to the lender and dealing with the rest. You are right about the fact that I should be smarter, but I actually make about $40K less than I did before I became a teacher, and have more college debt because of it. I was thinking about refinancing with the same shitty company that talked me into the interest only rate to begin with-I thought maybe I could give them some of their “interest” back.

ZACHERY

cme4ins asked:


I contacted a debt solution program but they say my credit will be hurt until I get these paid off. My credit is real good I just have alot of credit card debt that I would like into one lump sum with a fixed monthly payment. I cannot take a home equity loan due to a second mortgage for a business loan. My local bank said I don’t have enough assets for a personal loan to cover the whole amount.

JOSH

Team Tyler’s Van asked:


My husband cosigned a 50,000 home equity loan for my mom n law’s house.Mom is schizophrenic and can’t pay the mortgage the bank wants to forclose on her.My mother n law doesn’t want to sell the home she decided she wants to stay and refuses to allow us to sell the house.What can my husband do to save himself.
Hi the loan is in my mother n law’s name and my husband’s name so she could get the loan they used her house as the equity.

ZACHERY