Tuesday, August 24, 2010

What if my 1st and 2nd mortgage are owned by the same bank?

My 2nd mortgage is owned by BofA and since BofA bought out country wide my 1st mortgage is now owned by BofA as well. I'm considering walking away since i'm upside down, should i stop paying both mortagages since they are owned by the same bank? and should I also close my savings and checking account at BoA?What if my 1st and 2nd mortgage are owned by the same bank?
WOW! The best thing to do before taking any action is speak to an attorney. It is not always as easy as ';walking away'; as the bank could obtain a deficiency judgment against you if they are unable to sell the home for what is owed on the mortgages.





Have you looked into where you would live if you left the home and how that will impact your life? Just because you are ';upside down'; in the house does not mean that you should not continue to live there as you might end up with less home for the same payment someplace else. And defaulting on the mortgages will damage your credit rating and impact future credit purchases (such as a car) and interest rates for several years.





Housing values will come back, it will just take some time. And if you can afford the payments, staying where you are might be the best choice.





If you cannot afford the payments, there are other options available such as renegotiating the interest rates on your mortgages.What if my 1st and 2nd mortgage are owned by the same bank?
Listen,


The new law that pres. Obama has put in place is directed at homeowners just like yourself.





Even though your upside down on your loan, if your credit is still good you can refi and the Bank will forgive a portion of your loan because they accepted the new law offer.





As a loan officer able to do loans in all 50 states I have done these quite often.





Don't just stop paying if you don't qualify due to credit problem do a loan mod that's what they're in place for too.





Hope this helps. I would be happy to guide you through the process.
To answer the 2nd question, definitely yes.





For the first question you should consider other options before walking away such as a short sale or negotiating better payment arrangements. Walking away destroys your credit for 7 years.
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  • How to go about refinancing my mortgage?

    I have bad credit, my mom financed a home for me. at the time, 3mos ago, her credit score was like 620 but she had bad debt that was paid off right before getting this loan leaving her with no outstanding debt, save for the new mortgage. She pays all her bills on time, I have made 2 mtg payments before the due date. I have an 80/20 loan that ha sreally high interest 8.25 and 12.5. I need to refi ASAP how soon can I do this and can I consolidate both loans into one when doing so? My mom is going to be 65 in feb making her eligible to have a senior discount on taxes (about 3200.00 less) should I just keep the loan in her name for the perks or should I try to get the financing under my name again? We are on the deed as co owners with sole survivorship~ doe sthis mean my 7 siblings will not be able to try to get the property from me when she passes away? I pay for everything, but the loan is in her name. Sorry so long. I appreciate any insight and advice!How to go about refinancing my mortgage?
    I'm not sure you can refinance so soon, and because her credit is better you may be in a better situation to keep it financed in her name for the time being. 80/20 loans are the devil though, so have her refi as soon as you can- try to get 100% financing. You'll have to pay mortgage insurance though, if you're 100% financed. Oh- and since you are on the deed as a sole survivor the house will legally be yours and only yours if your mother passes away.How to go about refinancing my mortgage?
    toll free 1-877-242-2717 ask for Joe for free advice from a lisenced loan originator
    For one, don't listen to heatherraemccoy, sorry Heather. Typically an 80/20 is better than a 100% loan for the pure fact that you have to pay mortgage insurance on a 100% loan. The mortgage insurance you pay is wasted money and is not tax deductable, where as the interest you pay on both the 80% and 20% lien is tax deductible, therefore, even if your rate is a little higher on the second lien (20%), it typically works out better and a lot of times a cheaper payment than the 100%. Phewwww..Anyway, a good loan officer that knows what they are talking about can run both scenarios to see what is better, but mortgage insurance is only for the lending companies benefit, not yours!! Make sure you get several different quotes. Contrary to popular belief if you are shopping for a mortgage your credit score will not go down if you check with different lenders within 30 days of each other. The bureaus identify that they are all mortgage lenders and do not fault you for shopping around. good luck!





    (credentials-master of science in real estate, licensed mortgage loan officer and real estate sales person, currently real estate analyst for commercial loan originations ranging from $5 - 100 million)





    Sorry, one more thing. If you plan on staying in the house for a long time, the refinance may be worth it. If you plan on moving anytime soon, it may not be worth the refinance simply due to the costs associated with closing the new loan (lender's fee, title fees, etc). Again, an honest lender can tell you how long it will take to recoup your closing cost and whether it is worth it, but judging by your rates, you should be able to beat it and be fine as long as you are in the property for a while.
    I just finished doing mine, I just got it done yesterday, We went to Lending Tree, and actually we had a bunch of lenders give us offers, and its worked. I have only had the house for 9 months and also an 80/20 interest only at that, I got only my 20 refinanced and my 80 stayed the same, but we got a good deal, and 30 years fixed, and cash out. now when the time comes we will refi the 80% loan with the same company and have them both 100% fixed . Try Lending Tree the worked with you.
    What state are you in. I can make this happen. I am a lic. mortgage broker in NYS. fnelson@allcapitalmtg.com
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    I work for United Lenders Group and I work with over 45 different banking companies so I could get you a mortgage loan no matter how your credit score is or how much in debt you may be in. And with those two interest rates you have it should be no problem to beat what you have.


    916-860-0804


    keyon
    Better check your deed again. There's no such thing as ';co owners with sole survivorship';.





    If you're ';Joint Tenants with Right of Survivorship'; then the house goes directly to the joint tenant upon the death of either.





    If you're ';Tenants in Common'; or ';Tenants in the Entirety'; then the will of the decedent decides who gets title upon death. If they die without a will, the courts decide according to state law. It's entirely possible that your siblings will get some interest in the property in that case though you would likely be the majority stake-holder.
    Hi There,





    My name is Jason Fry, i am a licensed loan officer for Providential Bancorp in Downtown Chicago, IL...





    You purchased this home 3 months ago?





    Most lenders in America require whats called 12 months seasoning...Or 12 months of ownership before you can refinance..





    I am partnered with over 50 different investors though, all with different program guidelines...





    Although it is rare, I do have multiple investors that would refinance your mortgage without you being thre for the full 12 months...





    What it seems like to me is your credit isn't good enough to qualify.. Which is why your mom helped you with financing...





    One option would be to do a refinance with both you and your mother on the loan.. .This way you are both responsible for the debt, and you 2 are the only one's that would have any legal rights to the said property..





    Another option is to see what your credit looks like, and see if we cant qualify the loan based sole on you...





    The thing is that i can approve people with terrible credit, but it is going to be followed with a high interest rate...





    Here's the thing htough, it's a catch 22... Without a mortgage reading on your credit, it is impossible to IMPROVE on your credit score.. You may be able to get the score to go up a litle here and there, but without REAL ESTATE DEBT, it will never increase how you want it to..





    What i suggest is a program calle da credit builder refinance... You would try to refinance solely by your self, knowing that it will be at a high rate of interest... Then 1 or 2 years later, once your credit has increases (my having the real estate debt in your name, on your credit) You call me back for the 2nd part of your refinance... The second refinance would be at 0 cost to you (for repeat customers to providential) and you will then qualify for a conforming interest rate and loan program...





    The way i explain this is that you have to crawl before you can walk, and you have to walk before you can run.... Without having a mortgage, or real estate debt on your credit, you will NEVER qualify for a good loan.. If you take the necessary steps to get the mortgage under YOUR name, and YOU MAKE ALL PAYMENTS ON TIME!!!! you will see your credit increade substantially over the next 1-2 years...





    Either route, you need to talk with a professional so they can break down what you qualify for... Feel free to contact me at


    312-264-6448, or email me at jasonf@providential.com...





    I have helped numerous people here both purchase homes, and refinance existing mortgages (feel free to look at my profile)





    I look forward to speaking to you!





    Jason Fry


    Licensed Mortgage Originator


    Providential Bancorp, Ltd


    600 W Chicago ave.


    Chicago, IL 60607


    P: 312-264-6448

    So, auto companies aren't to blame for their union contracts, but those who signed mortgages are to blame?

    the auto companies signed union contracts... but it's the union's fault...





    but people who signed low price mortgages from banks... it's their fault for signing them?





    is there any situation Republicans... where big business is at fault for anything?





    and is there anything that you don't blame on the middle class?So, auto companies aren't to blame for their union contracts, but those who signed mortgages are to blame?
    Yep, it's all a part of that selective personal responsibility thing that is so much a part of the Republican fabric. So, auto companies aren't to blame for their union contracts, but those who signed mortgages are to blame?
    Again, it is the Republicans who are holding the Big Three accountable for their mistakes, and it is the Republicans who want to hold that management accountable for their decisions. Thus, for once they are finally the ones who are drawing a line on government spending.





    Therefore, your analogy makes no sense. It is the Republicans who are saying that the auto companies are to blame, and they should be the ones to endure the consequences.
    Those CEO's should be fired, they succumed to Union Extortion. Not to do so would have been the death of the companies because the Unions are basicly organized crime backed by the democrats, but the CEOs are supposed to look out for the good ... of the stock ... well maybe they did look out for the stock holders and they did the best they could against what should be illegal ... Extortion by Unions backed by those the Unions give all their members dues money to and back with their members almost threatening them to vote for democrats.





    Union leaders and many democrats in Congress should go to jail under the Rico Act.
    If a individual signs a loan he can't not afford to pay then it's his fault for signing that piece of paper. They should not receive a bailout for their ignorance.





    Auto companies shouldn't receive a bailout since they didn't manage their money wisely either. However, since millions of jobs are at risk then it's best for the economy that these businesses don't go under otherwise you have people without jobs and without money to stimulate the economy.
    Looks like you catching on!


    It's the difference between white collar, and blue collar.


    Those AIG executives having their lush retreats... It's because they were working so hard to make the bailout handouts work for them.


    Looks as though they are allowed to get away with it too!


    Banks made stupid risky loans, and banks deserve to fail for doing so! People who take out ARM mortgage loans aren't very smart, but banks also know that these toxic loans are destined to fail, and it was their idea, and their loan.


    If the snake bites it's own tail, it deserves to die by it's own poison.


    When the big three fail, it will affect everyone living in America.
    It's crazy, isn't it.





    The rich get richer and the poor get poorer has never been more true. And the poor folks get to pay for the $billions that go to the already rich, so the poor darlings can continue to get their millions in bonuses.





    After reading the above answers, I must say that I HATE the idea of the auto industry bailout. The major car companies have been told for years to make better and more efficient vehicles - - but no, they have continued to produce these big gas hogs and mountain climbing vehicles (where's the mountains around here)?





    Well, it is our fault for buying them and not demanding better for our hard earned money. The auto industry must be bailed because there are literally thousands of other companies that supply them and millions more could be out of jobs. Even tho we abhor the thought, the good of the whole country must be considered and acted upon. Like it or not.





    And where do we go if we need a bailout? Tough *^*%26amp;*^ folks!! Go figure.
    Union Contracts have nothing to do with the economy and the 40 plus years of mismanagement of the automobile industry. People don't want to blame those earning $38 Million a year and going home every weekend from Detroit to Washington State on a corporate, tax write-off, $45 million Gulfstream 5's, of which GM has 10 of them!! http://www.listaholic.com/top-five-most-鈥?/a>





    GM has been outsourcing jobs for years to Canada and Mexico, and many of their parts now are from Japan.





    Workers are always expected to give concessions, and the UAW has already!





    It is also not the unions fault that the bottom of the economy fell out under 8 years of Bush!





    It is funny how Republicans NEVER side with hard working people, just those who do little who have massive perks (on our dime), huge salaries (but don't want to pat taxes), and ';perks';, which are write-offs which WE end up paying for!





    It is about time to start blaming other than those who have NO DECISION MAKING into corporate board rooms!





    What middle class?





    In my opinion, those who think like that are completely in the dark as they never use FACTS when spouting their bootstrap Lemming philosophy!!
    Frankly I hold them all at fault, the businesses for allowing themselves to be put in this situation, the unions for becoming to greedy. The people who took mortgages that they couldn't afford. Congress for making the loan industry to loosen their standards for loaning the money. Congress should have stayed out of the banking business to begin with. Yeah everybody wants to own a home, but lets face it some people just can't afford to. Many times because they can't handle their money well enough ! I am a republican and yes I do think big business is at fault. The democrats in congress aren't any better they're just busting they're butts to bail them out ! The democrats started this whole housing for all thing, look what that snowballed into! They bail out wall street because they all have money there! They covering their butts everyone of them of all parties. Do you really think any of them are regular working people?





    cantu, Republicans never side with hard working people, what crap, that's what most of us are! We've worked every dime we have and are struggling to stay in the middle-class even in the low end of it !
    Its the signer's fault on both ends. That is why I didn't approve of the bank bailout and that is why I don't approve of the auto industry bailout.





    When is this going to stop?? How many companies are not experiencing a hard time right now?? When is it a companies job to stand on its own two feet?? Is this trend going to continue all the way to corner grocery stores, until taxpayers bail every industry out and we wake up one day in a socialist nation??





    This is some bs right here.
    What do unions do if they don't get their way by contracts signed?


    I heard today that the UAW contracts in Detroit have all union members paid for 4 years ( no loss of wages ) if plants close down. Female assembly workers get a every 6 month free manicure in their contract because auto work is hard on those pinkie fingers. Wow....where is that line of the sand from reasonable to out right criminal union greed? Why does paint peel off of all white 99-2003 GM trucks? Ever see those section 8'ers drive down the road? Just to open your eyes.......how many recals from UAW products vs. imports?


    U.S. auto makers spend $12000 making a $6000 valued vehicle and to pay off the labor, you see that piece of looking and durable crap on the dealers lots for $17,000 that 1/2 the country doesn't buy. What model of vehicle sits in your driveway?





    All design, performance and shop stewart managers along with CEO's should be fired in a chapt 11 restructure. Bring in some new blood, sign some new union contracts that fall within human rational thought......and go non union for $4 less an hour if the union doesn't modify contracts. Currently at $26 hr. union to start. How many people would work for $22 an hr?





    I rest my case.
    Well you know the way the Republicans think. When working class people lose money, it's our own damn fault. It's never the fault of large corporations like Enron. But when large CEO's go bankrupt it's our duty to give them $60 million severance pay.
    its the democ rats like c. dodds, b. frank, c. shumeer, and others who would not let republicans fix the situation BEFORE the bad happened.





    youtube.com/watch?v=_mgt_cs:7rs





    I DARE you to prove me wrong AFTER seeing this.
    Unions are DEMOCRATS and they ARE to blame.





    GUNS don't kill - people do.





    DEMOCRATS made the banks give loans to minorities that could not afford them.





    You wouldn't NEED abortions if you had morals.





    I've got more...
    What the hell are you talking about!!??


    Yes the companies are responsible for signing the union contracts. But what is your point!! Now those companies CAN'T afford to pay those contracts!!
    If you can't pay for your union contracts, maybe you should move into an apartment till you get back on your feet.....not expect me to pay for your bad contracts.
    If you can't pay for your home, maybe you should move into an apartment till you get back on your feet.....not expect me to pay for your bad loan.
    I haven't seen one intelligent Republican answer on here. But a star for you for trying!

    Besides Silver Hill Financial, what commercial mortgage lenders are out there?

    I am looking to break into the commercial mortgage industry and work for a lender as an account executive. The account executive calls on/visits commercial mortgage broker shops and basically educates mortgage brokers on products and programs and ultimately funds the broker's client's loan with his or her bank. The only companies that I have really found who do this and have available positions such as this are Silver Hill, CIT and a couple random others. I have previously been an account executive, but on the residential side. Any help?Besides Silver Hill Financial, what commercial mortgage lenders are out there?
    equity one , interbayBesides Silver Hill Financial, what commercial mortgage lenders are out there?
    A lot of commercial lenders seem to be shutting their doors because they cannot sell their loans (through CDOs or other securitizations). Silver Hill is still going strong so that may be why no one is able to recommend any other/better lenders...

    If I am delinquent on my mortgage, can the bank take from my escrow to make the payment?

    It will be explained fully in your mortgage paperwork under the default section. It goes into the heirarchy of where the money goes once you are behind...the forms vary by state, so just pull yours out and take a look.If I am delinquent on my mortgage, can the bank take from my escrow to make the payment?
    No. Your escrow is only to pay property taxes and insurance. They cannot take it.

    If you file a chapter 13 bankruptcy and get rid of a second mortgage can they still collect from you?

    after you pay you monthly payment to the courts for 3 years or does it go away?If you file a chapter 13 bankruptcy and get rid of a second mortgage can they still collect from you?
    On the chapter 13 you are making payments to second mortgage. What the chapter 13 does is allow you to reduce payments. Upon successful completion of chapter 13, your normal payments will resume. Talk to your bankruptcy attorney.

    My husband has not made a mortgage payment in months. How do I get him out of the house?

    He received OUR tax check back this year in the amount of $12,000 and did not apply any toward mortgage, not sure what he did with the money. Trying to find out how do I go about getting him to leave. I have asked him to leave and he will not. I can't afford to hire an attorney at the moment.My husband has not made a mortgage payment in months. How do I get him out of the house?
    The bank will start foreclosure proceedings after so many months of being in arrears. Getting him to leave is a short term problem, you need to get in touch with the bank to see if you can avoid losing your house so that you aren't homeless. Good Luck. My husband has not made a mortgage payment in months. How do I get him out of the house?
    Everyone thinks they can't afford an attorney, but you can, you can go to the local women's center and I do believe that once or twice a week, they have attorneys there that will offer free advice for you. I suggest you check that out, and never give up, there are attorneys who will offer free advice if you tell them your financial situation and they think that your case is worth helping you out with.





    Do not ever give up, there are people out there who will help you!!!
    Was the tax return in both of your names? If so, he took your money. It's difficult to kick him out unless he is abusing you. Who is making the payments now? If you are, you need to stop so he is forced to pay. Can you move out, temporarily, so he understands the gravity of your situation? Sometimes you have to shake things up to get it started.
    Move out and let the mortage holder worry about how to get him out of the house.
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  • Can I split the deduction for mortgage interest with my sister even if form 1098 only has my ss#?

    My sister and I purchased a new home in 2004. The form 1098 has both of our names as payer/borrower with only my ss#. We've been splitting the mortgage interest deduction, but this year after my sister already filed her 2006 return, someone mentioned to me that I should be the only one to claim deduction for the mortgage interest. I need to file my tax by 10/15/07 and was wondering if anyone can help me out on what to do! p.s. I didn't have enough income to pay mortgage last yr, so my sister paid mostly...Can I split the deduction for mortgage interest with my sister even if form 1098 only has my ss#?
    Interest should be deducted by the person who pays it.





    See IRS Publication 936 for more details. It says, in part,





    More than one borrower. If you and at least one other person (other than your spouse if you file a joint return) were liable for and paid interest on a mortgage that was for your home, and the other person received a Form 1098 showing the interest that was paid during the year, attach a statement to your return explaining this. Show how much of the interest each of you paid, and give the name and address of the person who received the form. Deduct your share of the interest on Schedule A (Form 1040), line 11, and print “See attached” next to the line.





    Similarly, if you are the payer of record on a mortgage on which there are other borrowers entitled to a deduction for the interest shown on the Form 1098 you received, deduct only your share of the interest on Schedule A (Form 1040), line 10. You should let each of the other borrowers know what his or her share is.Can I split the deduction for mortgage interest with my sister even if form 1098 only has my ss#?
    Since your sister has already filed, can you ask her what she claimed? She should have claimed what she paid. If she did not claim some of it, you could claim the rest of it.





    Regardless of whose SSN is listed on the 1098, only a person who is obligated to pay and who has actually paid can take the mortgage deduction.
    Yes, you can split it since you're both on the loan so you're each responsible for the payment. Between you, the total deduction would be the total amount of interest paid. The official ';right'; way to split it is that each person claims the deduction for the amount they actually paid.





    It's also possible for you to claim it all, but only really legit if you paid it. Since she already filed, if you claim it all, she'd have to file an amended return dropping her deduction for her share, and pay back whatever tax benefit she got from claiming her share - doesn't exactly sound fair, especially if she actually paid most of it.
    if you are both on the hook, legally, you can split it, but technically, the expense should be split according to who paid which percentage of the mortgage.

    There is a new law that mortgage lenders have to show attempts at helping customers avoid foreclosure. GMAC?

    said we do not qualify for the Obama's MHA program. They said our income needs to increase and/or the debts need to decrease. This, even though, payments have always been on time and in full. Is there an appeal process after being denied a loan modification?There is a new law that mortgage lenders have to show attempts at helping customers avoid foreclosure. GMAC?
    Nope. The modification process IS the appeal! You are appealing the terms that you originally agreed to. remember, you are not entitled to a house. If a bank determines that you cannot afford the house, they are NOT obligated to make the loan work until you can afford it.There is a new law that mortgage lenders have to show attempts at helping customers avoid foreclosure. GMAC?
    Your only appeal is a civil law suit against your bank, and they can hire attorneys much more expensive than you can, and drag it out for years. The court cost by themselves will exceed the value of your home, and the looser pays the court cost and attorney fees for both sides.





    This is an example of being entitled to as much justice as you can afford.





    The bank wins simply because you can't afford to challenge them.

    When thinking about buying a house do you first look into getting a mortgage or first find a house?

    I'm thinking about buying a townhouse or condo this year and taking advantage of low interest rates and the 8k from the government. I'm a few years out of college so never owned a place.





    I really dont know where to start. Do I first find a house and then look into a mortgage or do I first look into a mortgage to get an idea what I can be approved for and if I even can be approved?When thinking about buying a house do you first look into getting a mortgage or first find a house?
    you get pre-approved forst, so you know how much house you can buy. most realitors will not even show you around until you have this done to avoid you wasting their time.When thinking about buying a house do you first look into getting a mortgage or first find a house?
    First you should go talk to a mortgage company to see what you can get approved for and then you should start looking for a house within your price range. That would be my advice. You don't have to have the exact property you want when you get pre-qulified, and this way, you know what your price range is.





    You probably have somewhat of an idea of the price range you are looking for (i.e. you can go to any website online and find a mortgage calculator based on your income.), so keeping your eyes open is not a bad idea right now. If you can multi-task...you should do that as well. It does not take very long, however, to get pre-approved at a mortgage company, however. They just ask what your income is and what bills you have. It's really easy.
    It's always rather daunting looking at buying a house and there is plenty of things to consider. With the GFC and like you said, the 8k, now's the time with low interest rates.





    I don't know if this works but this looks interesting. I think all you have to do is enter a few details and you get access to the full kit on how to buy a house really cheap.





    Here it is: http://tinyurl.com/n8m2yd
    Pre approval and I would do it fast as the first time homebuyers credit expires the endd of NOv and nothing in the works about extending it into next year. That would be alot of money to miss out on.
    Since you cannot make an offer without being pre-approved, you need a mortgage letter. Get an agent who will handle both for you.
    pre approval letter first so see a mortgage professional in your area


    I am a mortgage banker in TN

    Mortgage interest do i have to claim it?

    Do I have to claim my mortgage interest if Im not itemizing?


    Im taking the standard deduction but i had someone post the other day I might be required to report it on a schedule B instead of a schedule A.Mortgage interest do i have to claim it?
    Your mortgage interest and deductions typically exceed the standard deduction; however, if your standard deduction exceeeds your interest then you can only submit for the standard deduction. However I have been an accountant for many years and it is not often (it does happen but rarely) that when someone owns a home that the standard deduction is higher than the allowed deduction so you may want to have an accountant take a look and make sure you are filing all your deductions available to you..Mortgage interest do i have to claim it?
    I wish my advice could be helpful.And here is a good resource.Check it up.


    http://mortgage.onlineidea.info
    you have to pay more than 10,400.00 in interest to be able to get a deduction on it. Thats what H%26amp;R Block told me anyway!
    You don't have to but it might be to your advantage. You would claim it on a schedule A with other deductions and if the total of those deductions is more than your standard deduction, you would get a bigger refund. Its a benifit to you to claim it, not a punishment.
    Nooooo, schedule B is if someone pays you interest. Schedule A is if you pay someone else. Never the twain shall meet.

    If I have good credit and my wife has good credit , but its limited, will hers hurt us getting a mortgage?

    She has a very limited credit history, what she does have is good, but her entire history is only a year old.If I have good credit and my wife has good credit , but its limited, will hers hurt us getting a mortgage?
    They are looking for the amount of income that will be available to to cover the family bills plus the new mortgage payment. If she is working it will help.. If she is not working %26amp; some credit cards or bills are in her name ONLY it will hurt. If both names are on the mortgage won't matter.If I have good credit and my wife has good credit , but its limited, will hers hurt us getting a mortgage?
    It can still be used to strengthen the loan file, but it sounds like qualifying will be based on your credit. Lenders want to see 5+ tradelines that have been open for at least 24 months. sit down with your loan officer and determine the best strategy for submitting your loan package. It may be best to have your wife on Title only. http://www.choicefinance.net/
    Unless she has bad credit, it should have no effect if you are the primary wage earner (make the most money). Some lenders however require the co-borrower to have a minimum credit score. If you run into any problems, get an FHA mortgage. They have good rates and credit score (for either borrower) is Not a consideration. Putting her on the mortgage will go a long ways to help her establish credit. Good luck.


    http://www.alabama-mortgage-specialists.鈥?/a>

    Should i take out a second mortgage to build a one bedroom apartment in the back or start a business?

    i can either build a apartment in the back with the money or start a swat meet business what should i do? what would you do? i just don't want to work for someone anymore....Should i take out a second mortgage to build a one bedroom apartment in the back or start a business?
    Build the apartment, as that will increase the value of your home. The addition could possibly become an income earner for you if you get a renter, or you could use that solely as your business space and make the typical business expense deduction.Should i take out a second mortgage to build a one bedroom apartment in the back or start a business?
    Best of luck to you Tina!

    Report Abuse



    start a business
    How much net rent will the apartment give you based on the cash flow?





    How much for the business investment?
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  • How to find out if the mortgage company that foreclosed your house has made a profit which you are entitled to?

    Obviously, a lot of people are posting answers that obviously don't know how foreclosure sales work.





    You DO NOT forfeit rights to profit...this is a myth.





    You are LEGALLY entitled to any and all profit.....IF profit exists.





    The laws changed about 30 years ago....due to the fact that banks used to speed up the foreclosure process if you had a lot of equity in the home...now the bank doesn't make anything but their expenses back plus the loan balance.





    30 years ago, a bank would start a foreclosure process if you were only 30 days late...they would keep sometimes hundreds of thousands in unearned profit...the laws changed and this simply, no longer happens.





    Go down to the courthouse and find out who the Trustee was (which is usually an attorney or a law firm) and their contact information...you are legally entitled to see how the money exchange was handled regarding the foreclosure sale.





    Your former lender should also have a copy of this information.





    Understand, that during a foreclosure, you owe far more money than simply your principle balance....you owe the fees the bank had to spend in the foreclosure process, which can be thousands of dollars for an attorney, filing, advertising, cleaning, Realtor commissions...ALL of that gets charged to you.





    So after ALL of that gets paid....whatever is left, is the profit.





    More often than not, there is very little of it..if any. But even if it's $1.00....you get it.





    The Trustee can charge you to see the paperwork (request a copy)...but you have a legal right to see it.How to find out if the mortgage company that foreclosed your house has made a profit which you are entitled to?
    Once you are foreclosed, you forfeit all rights to any ';profit.';How to find out if the mortgage company that foreclosed your house has made a profit which you are entitled to?
    with all the attorney fees involved it would be doubtful they made any profit!
    If they make a profit, they keep it.
    Once a house is foreclosed on......you no onger own it

    How late can you pay your mortgage?

    I was just wondering how far behind do you have to fall for them to forclose on your house?How late can you pay your mortgage?
    Approximately 9 months will pass before they will foreclose. However, you need only be behind several months before they start proceedings. Varies by bank.How late can you pay your mortgage?
    They are legally allowed to begin foreclosure proceedings if you are behind ONE month. They rarely actually do until you are 3 or more months behind. In the US, you would probably have longer at this time, especially if you are trying to work with the lender. They have more foreclosures than normal and actually don't want to own your home.
    My guess is after 3 months you will have piqued their interest. Better not to test my assumption. If you can't afford to pay your mortgage you need to come to the realization you can't afford your home. Think about selling it.
    Usually, you would have to fall behind a certain number of months.





    I would suggest you not find out. Call your mortgage company and explain your situation. Try and work together.
    It depends on the bank. They don't want to foreclose because it costs them a lot of money. Typically need to be behind 4 - 6 months for things to get really bad.
    A few months would go by before they would start proceedings

    Assuming the federal interest rate will be cut again, how long till the mortgage rate will be affected?

    When should I refinance with a VA loan.Assuming the federal interest rate will be cut again, how long till the mortgage rate will be affected?
    It usually happens pretty quickly after they announce a rate cut but you can go to bankrate.com and look at daily rates for everything from mortgages to car and credit card rates.Assuming the federal interest rate will be cut again, how long till the mortgage rate will be affected?
    Unless you have a fixed-rate mortgage, the current mortgage interest rates are very important to deciding how much you should pay every month%26lt;!--therefore it is always a good idea to keep an eye on what the rates are doing. If interest rates should rise, so will your monthly payments and again, if interest rates were to fall, so would the amount you would have to pay.





    http://mortgages-finance.awardspace.com/Mortgage-Rate-Compare.htm





    Monthly repayments made on your mortgage and the amount that was borrowed, is determined by current mortgage interest rates. Different--%26gt;companies offer different interest rates so it is a good idea to shop around for the best deal before settling on one particular lender.
    Do not assume that mortgage rates will necessarily track down in step with fed funds rates. Other market factors also have an effect.

    Assuming the federal interest rate will be cut again, how long till the mortgage rate will be affected?

    When should I refinance with a VA loan.Assuming the federal interest rate will be cut again, how long till the mortgage rate will be affected?
    It usually happens pretty quickly after they announce a rate cut but you can go to bankrate.com and look at daily rates for everything from mortgages to car and credit card rates.Assuming the federal interest rate will be cut again, how long till the mortgage rate will be affected?
    Unless you have a fixed-rate mortgage, the current mortgage interest rates are very important to deciding how much you should pay every month%26lt;!--therefore it is always a good idea to keep an eye on what the rates are doing. If interest rates should rise, so will your monthly payments and again, if interest rates were to fall, so would the amount you would have to pay.





    http://mortgages-finance.awardspace.com/Mortgage-Rate-Compare.htm





    Monthly repayments made on your mortgage and the amount that was borrowed, is determined by current mortgage interest rates. Different--%26gt;companies offer different interest rates so it is a good idea to shop around for the best deal before settling on one particular lender.
    Do not assume that mortgage rates will necessarily track down in step with fed funds rates. Other market factors also have an effect.

    How does my Mom get her mortgage out of my brothers name and quitclaim her house to me?

    My mom refinanced her house 8 years ago and my brother talked her into putting the loan in his name. My brother is now estranged from the family and my mom wants to have me quitclaim the house from her. The deed is in her name solely but the mortgage is in my brothers name. He doesn't live there and he has never made a single payment. My mom and I make the payments.


    Thanks In Advance!How does my Mom get her mortgage out of my brothers name and quitclaim her house to me?
    There is some good and bad advice here.





    You really need to talk to an attorney about the safest way to go about separating the property from your brother. Everyone likes the quitclaim deed because it is quick and painless, but its effectiveness to quiet a claim against a property can vary. RE attorneys deal with these situations all the time, it will be money well spent to get legal advice on the best way to handle this.How does my Mom get her mortgage out of my brothers name and quitclaim her house to me?
    Sounds like a family feud is brewing, good luck. The above answers are all good, so no need to repeat.
    If the title is in your mothers name, he cannot claim the house. The title is what shows ownership. He may stake a claim that the mortgage was in his name for 8 years, claim that he had been responsible for the payments....need to document where the payments came from through deposits and checks written to pay the mortgage. I don't think that the brother needs to be there as there will be nothing for him to sign at settlement. A check will be issued to pay off the current mortgage and he will no longer be attached in any way.
    If your brother is on the loan, he was quitclaimed on at that time. She will have to refinance again and have him quitclaimed off. Unfortunately, he will have to be a willing participant. Otherwise, get a lawyer.
    Listen to the people on here telling you to get a lawyer - fast! One cautionary thing about ';quitclaims';. My daughter quitclaimed my son's house (with his consent). After about two years, alot of my son's debts surfaced through a collection agency and liens were put onto the house (which my daughter then owned). They eventually had to sell the house to settle everything. I'd steer away from quitclaims if you can. But more importantly, get a lawyer and take his advice.
    Hi,





    If possible, you should go for a mutual consent and get it cleared. Otherwise, you should explore some legal options. But, you should prove that your mom has paid the dues so far. The webguide on mortgage http://mortgagehelp.assistancecenter.inf鈥?/a> has highly useful info. You can get all your doubts clarified from the site. Check it out. Good luck!
    Since it in your brothers name, he will have to be there, and sign it over to you and your mother.

    Question about mortgages please advise?

    I very upset with my mortgage company. 1 year ago they gave me a courtsey call telling me i have 45k in equity in my home. They threw me an offer to cut my bills down ect. I went into talk to them at a local office and they spelled every thing ourt My 1st loan is 140k on a adjustable plan. They were telling me to roll in my car loans, credit cards and student loan to cut monthy payments total as 70k. They valued my property at 220,000 did not send our a appraser, they also told me that it would help my credit score substantually doing this so i could refinance my 1st. Now my 1st adjusted from 5.7% to 9.22% with payments increase HUGE. I called Country Wide to dicuss refinancing. They looked it up and it did show my Credit Score did go up to 680. and yes we are ready to work with you. They sent a appraser our 300 dollars extra out of my pocket and they apprased the property at 185k, leaving me backwards 35k. they then told me they could not do anything.Question about mortgages please advise?
    Wow I feel for you. As a bank and a broker there are a few ';outs for you';. You could find a broker that underwrites for many companies, one that will allow a AVM - a AVM is where you do not need the appriasal, where they go online and get the value - with compairable comps. That sounds like what the other company did. There are companies that do this. I underwrite for 150 companies, and have done AVM's - I do that if my client can not afford the appraisal.





    You could get your own appraisal done, have a realitor come in and do a walk thru, and get their idea. I do not know who this last company used - was the person that came and did the appraisal a local person? One that knows the area?





    The other thing is you could go with a 125 loan ( I do not like them, but have done them as per my clients request). In that case your loan amount would be 231,250 based on the lower appraised value. A 125 LTV loan is a 2 loan - so you would not be saving alot of money (if any). The first is a fixed and the 2nd is normally at a adjustable. You can get a fixed rate - so talk to a Mortgage Broker. One that is knowledgeable...(ok). But I would look at your mortage note, and your rider's that is attached to it, to see how much your rate will rise. I do agree that your rate jumped up too high.... If I can answer any more of your ?'s let me know. Good luck to you and Happy Thanksgiving to you and your family.Question about mortgages please advise?
    I am seeing much more of this these days and it is due to the pullback in values. Many borrowers refinanced to 100% last round and took the short term loan solution...an adjustable mortgage. It can seem like the perfect solution because the payment is so low but when that adjustment period hits it is a real eye popper.





    Countrywide is not at fault, it is your loan broker in actuality. If for no other reason than simple disclosure of the risk associated with an adjustable....especially at 100% finance.





    Here is some additional info. Hope this helps.
    This is mortgage and financial question. I would get a second opinion. This is big money we are messing with and your life. And the most important part of being a professional is making sure your client understands. It could be a great deal, but because you don't understand, you want to back out and not just go for it.
    You might want to see if you can get a free consultation from an attorney.





    Home values do change, but that's a pretty big drop for a year from 220 to 185. At the same time, interest adjusting from 5.7 to 9.22 is more than the maximum allowed under any note for any loan I've closed.





    I smell an unethical practice here on the part of the 220 lender. I think they duped you into a loan too large to refinance any time soon with a low introductory rate and an adjustment to way above what the market would give you. I'll bet you weren't represented by an attorney, and they probably didn't inform you of that right.





    I'd want to examine the whole transaction, the Note, the Mortgage, all the ancillary documentation. There may or may not be anything that can be done, but it's worth talking to some knowledgeable lawyers about.
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  • Appointment for pre-approval for a mortgage, and should you tell your agent how much you're preapproved for?

    Hello,


    My fiancee and I need to get pre-approved for a mortgage so we can start looking inside of homes. Our agent will not show us any properties until we are pre-approved. Do you usually have to make an appt for the pre-approval? How far ahead of time do you have to call? Do you just choose anyone for the pre-approval and then shop around when you actually need to process the loan? We would ideally like to get this completed ASAP. Also, once you're pre-approved, should you tell your agent how much you're pre-approved for? We are definitely not planning on purchasing a home for how much they would give us a loan for. Just a modest starter home so we are not completely strapped for cash.Appointment for pre-approval for a mortgage, and should you tell your agent how much you're preapproved for?
    That's all your personal info, don't share it with anyone. Pre approvals are good because it lets the buyer know you are qualified and serious about buying. It also gives you a good edge when bidding on a property, it's almost the same as having cash. You should tell your agent what price range you are looking for, not the dollar amount you are preapproved for.





    Also,


    I would find a new agent, they shouldn't refuse you for not having a preapproval, although it will eventually be necessary. And do as much research as you can about buying your first house, knowledge is power. Know what you can afford then shop for a loan. It's about as important as buying the right house.





    Lastly, don't give your personal information to internet sales people, go to a reputable lending institution and talk face to face with someone. They will answer all your questions and help you find the right loan for you.


    Good LuckAppointment for pre-approval for a mortgage, and should you tell your agent how much you're preapproved for?
    Yes, of course you should share this information with your real estate agent. How else is this person to know in which price range to show you houses? Or do you expect this person to show you forty different houses, only to find out later that you are approved for NOTHING?





    The agent is perfectly in line for asking for such a pre-approval letter. As an agent in the business, I cannot tell you how many agents I have seen beating the pavement for a customer, only to discover later that it is all for naught.
    NOOOOOOOOOOOOOO


    foxtons make u take their own brokers so that they can find out how much u can go up, so when neogationting they know what u can strech it up to: if an agent thinks that u can go up he will make the vendor go down.


    its like when u got a fish on the line, u slowly pull it in or give in a lil if its abit fat:


    so fish be ware:





    give me best ans asewell





    if your lookin in east london give me a mail
    I would be looking at alot of different agents. I would say to him if you wont show me your houses I will go to all of the other agents in the area. Definately don't let him know what you have been pre approved for. Remember that he is acting in the best interest of the seller. Although if I was selling a home through him I would be very irritated that potential buyers were not being shown through because of his laziness. I am in Australia, so this applies to us here
    You can generally get pre-approved on the spot at your bank w/out an appointment. For me, I went into my bank. They pulled a tri-merged mortgage credit report and pre-approved me right there. They then faxed my realtor a committment letter -- not the same one they mailed to me at my house -- but a quick form (or short form) which is what the banks (at least in my area) are using. My realtor did not aske for that (though she is a family friend), but it did come in handy when I made an offer to the seller -- it gives your offer a little more umph because they know that you're already approved. And no, I would not tell your realtor how much you're approved for -- he/she will always be showing you houses at that price point. Thell your realtor how much you want to spend (not what you are approved for).





    I would ude the lender who approves you -- minimize the credit inquiries.
    First of all, you should have a ballpark figure of what you are looking for without the pre approval. Getting a pre-approval (not to be confused with prequalification) is like applying for the loan so you need to shop for a lender that you feel will give you the best deal.





    Unless there is something you are not saying, I would tell your RE agent to take a hike and find another-there are plenty of them out there. Why would they not show you a house??

    I have been paying down my mortgage aggressively. I want the freedom to own my home. Thoughts on this -?

    I am 42 and my husband is 46. We do not ';sacrifice'; but are careful. Our current outstanding mortgage is $160,000. We started with $346,000 almost 4 years ago, but have been paying it down. Our interest is 4% but it is an adjustable that may jump to 6% in April of 2009. Is there a way to refinance and lower my payments so that we may pay off our home sooner, and so that we may be able to afford college without struggling?I have been paying down my mortgage aggressively. I want the freedom to own my home. Thoughts on this -?
    If the true value of the home, based on a hard appraisal and not a quesstimate, then you are at about 46% loan to value! Great job! Have you ever calclauted your APR to see how much money you did save by applying additional payments?


    Did you start out with a 30 year mortgage? Would you be looking at just a rate and term refinance with no cash out? Look at a 15 year rate and a 10 year rate. Go to a fixed rate product with no pre-pay. Definetly talk with your banker and explain what you are trying to accomplish...but I will tell you this....with you having so much equity already and a low rate, they'll probably steer you to a HELOC (Home Equity Line of Credit) and not touch the first. In my opinion, don't do it! Get a Fixed rate on the first and don't tap into the equity unless you need it to pay for college. Do you? A HELOC loan operates just like a revolving charge card and the rate changes everytime the index margin changes...so it has all the potential to increase on the rate and it's also a Second Mortgage on your home..which is a lien in second position.


    So,if I were the person doing your home loan knowing you didn't want to tap into the equity you already have for college expenses, I'd put you in a Fixed Rate product, run you an APR and show you how to pay the home off in less time as well.The big question would be...what is your principal and interest monthly as of now.....not the extra you're paying, but what is on the Mortage Note itself?I have been paying down my mortgage aggressively. I want the freedom to own my home. Thoughts on this -?
    My interest dropped to 3.25 for one year and my outstanding is $110,000 and my mortgage is $543 (not counting the taxes on my home). My only fear is that I will be killed at the end of the year in taxes.

    Report Abuse



    You are not going to get any better that what you have. Keep doing what you are doing and when your rate adjusts in 2009, look at the rates offered at that time. If you can refi and get at least a point better at that time, do the math of the closing costs vs the time left on your mortgage and see if it makes sense.
    If you're going to keep paying down the loan at the same pace, I wouldn't refi.





    However, if you're going to slow down the pace to the monthly minimum, and you might have trouble making the mortgage payments at current and future amounts, then I might.





    Also, do you have any other high interest consumer debt that you can pay off, ie, credit cards, personal loans, etc. If you are looking to pay something down/off, do that first. It's better to keep low interest, tax deductible debt (good debt), than high interest revolving debt (bad debt).





    In case you haven't run the numbers here are some scenarios to ponder re: the refi:





    CURRENT SCENARIO(assuming a 30 yr term %26amp; only 1 loan):


    $346,000 @ 4.000% for 30 yrs = $1,651.86/mo





    NEW LOAN SCENARIOS (30 yr, 20 yr, 15 yr):


    $165,000 @ 6.000% for 30 yrs = $989.26/mo


    $165,000 @ 5.875% for 20 yrs = $1,170.72/mo


    $165,000 @ 5.625% for 15 yrs = $1,449.15/mo





    Good luck in your decision.
    Talk to your Bank manager

    Is the former Chairman of the Federal Reserve, Alan Greenspan, responsible for the mortgage crisis?

    I'd really like your opinion on this question. Thank you.Is the former Chairman of the Federal Reserve, Alan Greenspan, responsible for the mortgage crisis?
    My opinion is no, Alan is not at all responsible for the current situation.





    Dumb loan officers, pushing borrowers past their responsible loan amount, offering low teaser-rate adjustable mortgages... and even dumber borrowers who took up the absurd terms and now can't pay because their rate went up.... Those are the people responsible for the current situation!!





    All the happy homeowners who borrowed fixed rate loans, at a time when fixed rate loans were about as low as they could ever get... they're not responsible... but they might buy the houses that the dumb borrowers are losing, and become rich real estate investors!!

    If 92 % of the country are Paying there Mortgages are the other 8 % Libs and Dems.?

    I dont really think anyone truly knows for sure the exact amount of dems


    and Pubs who have defaulted on Mortgages, In any case, I find it more


    likely that the larger number would be Democratic do to the fannie


    freddy mess was ruined by low income non qualifying borrowers,If 92 % of the country are Paying there Mortgages are the other 8 % Libs and Dems.?
    Actually, only 55% or so have home loans. The rest are renters. Your question contains ignorance.





    The 8% of those who have foreclosed home loans are laid off by your hero rich class executive masters, who continue to travel by Learjet.





    I thought you promised they'd take good care of you?





    Edit: I wouldn't borrow a solitary cent from a blood-thirsty rich-class American banking leech.





    http://www.620ktar.com/?nid=48%26amp;sid=10884鈥?/a>If 92 % of the country are Paying there Mortgages are the other 8 % Libs and Dems.?
    No.


    The implication of your ';question'; is pretty insensitive. There are responsible folks of ALL parties that have lost their jobs and are in big trouble. Not everyone is irresponsible. I would take that smugness %26amp; realize that the grim situation could effect you also.
    I'm a democrat and just finished paying off my mortgage... was never late with a payment either.


    Actually... I know a couple of republicans who lost their home... I just think it's all different cases and nothing to do with what party you are from.


    Some can't pay because their job let go of them... out of work means no money to pay bills.


    Others just bought too much house, too much lattes, too much clothes etc. Many people were used to splurging, not thinking ahead. It would be good to be educated in school about simple finances a bit. Especially interests on loans and credit cards, some people have no clue still.. They think it's simple interest on the loan amount.
    No, they are the Republicans who hang out here each day all day who work minimal jobs and ride their sisters pink stingray to McDonald's for work and to buy chewing tobacco.
    No. Job loss and the subsequent loss of income and the ability to pay your bills knows no political party.
    Studies have shown that of the 8% in default over 60% went back into default after being helped in the last stimulus package. I saw a news story the other day about a black woman and her family complaining because they couldnt afford their 1900 dollar a month mortgage payment !! And she was whining and complaining about having to work 3 jobs to pay it !! Well geez lady why did you buy a house with a 1900 dollar a month mortgage in the first place ? Or were you counting on the Tax Payers footing the bill for ya all along ?
    The figures the poster gave about those who went back into foreclosure are correct. This is throwing good money after bad. Programs already existed. If you can't afford the house, another program isn't going to help either.





    To add another story, I read of one man in CA who has a part-time job and his wife stays home with their 4 children. Then they wonder why they can't pay the mortgage.
    92% of that eight percent are people who expect a government handout in return for voting for Obama.





    A handout siphoned off of others who worked hard paid their debts out of their monthly paychecks....
    Given the number of Red states that have housing markets that are in deep trouble...I'd say no.





    see: Arizona, Nevada.





    Just B free: ';studies have shown';? What a load of BS.
    Nope. All of my southern, white neighbors in foreclosure say it is Republicans an Conservatives as well.


    %26lt;%26lt;South Carolinian.
    3 houses in my neighborhood are in foreclosure, 2 have cars in front with mccain stickers on them,...you do the math.
    Idiots come in all colors and all parties .
    Only in your fantasy world...

    How does US Citizen get Canadian Mortgage to build a home?

    I'm trying to move to Canada in the next few years, and would like to build a home there. Already have property but having trouble finding financing to build on it as I am not a resident, have great US credit but no Canadian credit...help! Any recommendations on Banks that will consider my US credit history and not require a cosigner?How does US Citizen get Canadian Mortgage to build a home?
    Get your citizenship and then you'll have no problems finding a bank. Try Scotia, TD, BMO, RBC, or CIBC. Scotia, TD, and Bank of Montreal (BMO) are likely to be of most help for you.How does US Citizen get Canadian Mortgage to build a home?
    ';Canadian Mortgage'; (CMHC) does not build homes. They are a guaranty corporation that backs higher-risk mortgages, such as those transactions with 10% down paymnet or less.





    CMHC will not build a home, nor will they back mortgages taken out by out-of-country home owners: it is intended as social security benefit for Canadian citizens only.

    What qualifications do i need to have or get to become a loan/mortgage consultant in Ireland?

    Want to become a Mortgage/Loan Consultant in Ireland, what license do I need?What qualifications do i need to have or get to become a loan/mortgage consultant in Ireland?
    learn to be a good liar
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  • How much is your rent or mortgage in Los Angeles or adjacent?

    I have lived in West Lost Angeles for a few years. I lucked out and got a corner 2/2 with W/D, dishwasher, fireplace, views and parking for $1450 (rent controlled).





    I'm debating about buying and I'm curious about where I stand rentwise (is it cheaper).





    What do you pay, how long have you lived there, where do you live and what are your amenities?How much is your rent or mortgage in Los Angeles or adjacent?
    I would hold off buying anything for about another year. Your chances of purchasing a property any where in Los Angeles at this time means no less than a $350K mortgage. At that rate you could be paying in excess of $2000 a month for your mortgage. Add taxes and insurance to that it can blow your budget. I have a rent control apartment where I pay $800.00 a month for a large one bedroom in the Hollywood Hills. Since I figure a mortgage would cost me about $2500 a month, I have been squirreling away the difference to buy a home for about a year now.





    I suspect the overheated LA market will start to soften in the next year as interest rates continue to rise and foreclosures go up. THere will be more supply of available houses to buy. Increase in supply usually means lower prices.





    Good luck


    NotaryLawyerS.comHow much is your rent or mortgage in Los Angeles or adjacent?
    Just got off the phone w/my daughter in LA/She is paying 2000.00 a month for a small house (rent controlled) that is smaller than her bedroom at home in the Midwest. Sounds like you should at least check it out!
    I own two rentals that I plan on keeping, one is a 2bd/2ba condo rented out for 1450 and the other is a 3bd/2ba town house rented out for1900 in Irvine, CA. My rents are considered low for my area.





    I also have to disagree with the real estate attorney. If the numbers make sense, then you should own your own place.





    By the way, how the hell does a real estate attorney qualify for section 8 and where do you park your porche? ;)





    Regards
    good luck

    What are my options for filing mortgage, income, property taxes using turbo tax?

    I want to file fed state efile the cheapest. I thought I had to use Deluxe.What are my options for filing mortgage, income, property taxes using turbo tax?
    You can use the Free version for all of those with no problem (only Federal is free, not state). I know it won't let you do investments in the free one, but the home taxes are fine. The upgrades they suggest while you are filling out your taxes can be dismissed by clicking No Thanks at the bottom. Also, if you click on any of the Learn More links with the free version, it will pop up an upgrade request. Just hit Back or No Thanks.What are my options for filing mortgage, income, property taxes using turbo tax?
    Turbo Tax charges you an extra fee to download the state software no matter which package you get. I don't need much help, so I just use the basic. There's even a FREE Turbo Tax which is the same as the BASIC program except that it doesn't include any help files. You can e-file your federal return there for free as well. That's the one I used this year. I bought the standard program and they wanted $17 to e-file. So I went to the web site and did the same return AND e-filed it for FREE.





    Check out the link below.

    Mortgage going up by a thousand dollars. What will my bank do?

    I've stopped paying my 2 mortgages because I just can't


    afford it anymore since one of them went up by a thousand


    dollars. What can I expect my bank to do? I put my house


    on the market even though it is ~$80,000.00 less than what


    my combined mortgage is. My bank won't try to make me


    pay part of the monthly mortgage will they? As I see it, if a partial


    payment is the same as no payment as far as my credit


    is concerned, then why should I even pay it? All of it


    is going to interest. I want to wait it out until I can short


    sell my house or foreclose and in the mean time, use the extra money to pay off some debt. Is this strategy sound?Mortgage going up by a thousand dollars. What will my bank do?
    That is a disaster strategy. You are willingly ruining your life.





    It is not like this just snuck up on you. Refinance or sell.





    If you have no intention of doing either, then at least call them and ask for some sort of plan to leave peacefully and not have your credit rating ruined for the next decade.Mortgage going up by a thousand dollars. What will my bank do?
    If i were you i would just go in to bankrupt, it will be better then having your house on foreclosure before it sells and thats just gonna get nasty. There are different chapters of brankruptcy, with some you are able to buy a home in 2 years. We do mortgages and it is amazing how many people just do that over and over again.
    Your strategy is stupid. Attempting to pay off any kind of debt is better than ignoring the debt all together. You will get foreclosed, the bank will own your house, and you'll be out on the street or living with some friends.





    And you can pretty much kiss your credit score goodbye, which means you'll never again have to worry about getting another home or car loan, and any credit cards that you have can now charge you an outrageous annual percentage rate.





    So good luck to you! With thinking like that, you're gonna need it!





    You could always try to refinance your house, get a 40 yr mortgage, instead of 30, that will lower your payments. Oh wait, you're already behind in your house payments. And a refinance would mean they need to run a credit check on you. Nevermind. Sounds like you shot yourself in the foot without thinking things through first.
    Nope.





    By not making your payment, or even making an effort to make your payment, you're collecting nines on your credit report.





    And, your bank may get frustrated with you and just foreclose on the property before you can sell it.





    At that point, it will be a cold day in hell before you'll be able to buy anything on credit for a long time.
    No, this is not a sound strategy. The other answers explain why.





    The only thing I want to add is that the amount of a ';mortgage'; is the total owed, not the monthly payment. If the mortgage went up by $1000, that is only a few dollars extra to pay each month for however long the mortgage lasts. If it is an extra $1000 per month, then the correct term for what went up $1000 is the ';mortgage payment';.
    I'm assuming since the house is listed for $ 80,000 under the balance on the mortgages that you do not have the equity to refinance.


    That being the case the best call you can make is to the loss mitigation department of BOTH of your lenders. One may be able to work with you when the other can't and you'll need both of their help.


    The results and consequences of not paying and not communicating are always worse than trying to work with them.
    Sounds like somebody thought they had a great deal on a ARM loan , or was it interest only ???





    The last thing you want to do is try to re-finance for another 30 or 40 years , you are just throwing away more money that you do not have , either talk with the banks and set up the remaining balance to be paid off in 15 years , NEVER pay on a house more than 15 years , all you are doing with a 30 year mortgage is paying them an extra 100 grand or more to let you pay longer ..it is stupid , if the bank won't do it ..say good bye .. chances of re-financing are slim ,and none because they would have to run your now bad credit , and you would have to do the expenses of closing again ...and if you had money to do that you could pay the bill .. either get them to work something out , and when they say ';NO'; talk to a bankruptcy lawyer ...if you wish to keep your house , they will make you sale one to keep the other , but you will be protected ...do not worry about your credit , it is ruined anyway , besides that credit is what caused this problem , right ...
    It's not any kind of strategy. Strategy is a way of dealing with challenges. This isn't dealing with them, it's hoping you don't get nailed by them,





    First off, CALL THE LENDER, ask for loss mitigation, and see what you can work out.





    If you can, make enough of your payments and back payments to stay out of default. If you go into default, not only are you assessed some serious extra fees, but you lose a lot of rights. Furthermore, since it's public record, expect to get less for the sale of your property if they record a default.





    Any shortfall is likely to be accompanied by a 1099, reporting income through forgiveness of debt. The rules on this vary from state to state, and are dependent upon your situation. This is taxable as ordinary income. Guess what? Now you have to pay taxes on that $80k (likely more) that the lender lost ($80k is enough to bump most folks tax bracket). Wouldn't you like that number to be less instead of more?





    If your agent had any kind of clue about short sales, they would have explained this to you. Since it takes an agent who knows what they're doing to get a short sale approved, find another agent.
    Stategy? What strategy? Just ';not paying on my 2 mortgages'; is not a strategy.





    In today's environment, you have several options.





    1) Contact your bank(s). Let them know what is going on. Record dates and times of all conversations along with the basic conversation and it's resolution.





    2) Consider a refi, through the same bank or someone else.





    3) If you have selling in mind, as it sounds like you do, banks will SOMETIMES (but not often) ';settle'; for a lower amount upon sale. However, not making any portion of your payments in the interim is not wise.





    Bottom line, call your bank first. Be honest. Speak to a supervisor and lay your cards out on the table.





    Good luck.
    Either you need to start looking to RE-FINANCE or your home will be foreclosed soon. Its not a good idea to let it foreclose. If you work hard to search, you will find a mortgage company who will work with you although you've started a problem by not making the payment. Act quickly, we did, and we were re-financed within weeks.

    MONEYSUPERMARKET for mortgages - Don;t do it - Read on for some enlightenment?

    More and more clients are finding their way to myself and other brokers whose credit file is completely knackered by Moneysupermarket throwing your details around (some very incorrect details), doing AIP's on you with several lenders before they say they cannot help you. By the time you get to an independent broker (with specialised skills and experience) its too late and your have more chance of getting AIDS than getting a mortgage. These adverts like so many should be banned, they are misleading and you are no more than an opportunity for a quick buck, your rate will be high (especially if you have a little adverse credit) its unfair to good professional brokers and clients like yourselves who end up with a rubbish credit score, no mortgage and no hope of getting one. They don't tell you that in their advert.MONEYSUPERMARKET for mortgages - Don;t do it - Read on for some enlightenment?
    Money supermarket has it's place on the Internet. It helped me to get cheaper car insurance two years in a row and gave me the best deal for child trust found. It is a great research tool but I would never buy anything directly through them.MONEYSUPERMARKET for mortgages - Don;t do it - Read on for some enlightenment?
    While I agree with what you say I can't seem to find your question anywhere
    thanks for the information.. Good to know

    How do i get out of being a co-buyer on a house mortgage?

    My boyfriend and i have decided to call it quits after 4 years together. In that 4 years together, we bought a house where i was co-buyer or secondary on the loan. I now want to make a clean break from him and the house. Is there anyway i can do this without this effecting my credit?How do i get out of being a co-buyer on a house mortgage?
    You can easily remove yourself from any ownership interests in the property by effecting a quit claim deed, and registering same at the local land office/register of deeds.





    Removal from mortgage responsibility, however, is not so easy. Your former partner must refinance the property with a mortgage in his own name only. The lender on your current mortgage will not remove you in any other fashion.How do i get out of being a co-buyer on a house mortgage?
    If your boyfriend refinances the house with out your name on the new mortgage or if the old mortgage is paid off in some other way that would take you off.





    If you are also part owner then you still may have obligations and benefits until the home is sold (or you can sell your part to him). You better get a lawyer involved.
    he can refinance, or you guys can sell it, split the equity, and go your separate ways.
    Yes. Have your bf refinance, and take you out of the mortgage

    When buying a home, what is the best lender to use for a mortgage?

    ...a lender that would give the best possible mortgage rate.





    I realize that this is a rather vague question, but please make at least a general input.





    Thanks.When buying a home, what is the best lender to use for a mortgage?
    I have two houses with mortgages, and here's what I learned:





    Great banks = Wells Fargo Home Mortgage and Wachovia Mortgage. Great rates, minimal paperwork, intelligent banking staff.





    Horrible banks = Bank of America and Ditech (legal name is GMAC). Rates are higher than everyone else, mountains of paperwork, and their banking staff are dumb as a box of hair (they applied my entire mortgage payment to extra principal, then charged me a late payment fee for not paying my regular mortgage payment).When buying a home, what is the best lender to use for a mortgage?
    Wachovia is the best I have used or heard about so far.
    It depends on your situation. There are some companies that do only work with people with great credit, but they typically have pretty rigid guidelines. There is more to a mortgage than the interest rate, and you want to be careful of that. I would shop around and find out who fits you best.
    Merrill Lynch


    1) only gives credit to A1 rating


    2) This leads to better pricing for the mortgagees


    3) Competative rates


    4) Can use LIBOR interest rate instead of prime which could give you a better rate


    5) You will also be dealing with a financial advisor who can help in other financial queries
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  • What is a good and reputable mortgage lender?

    Just wanted opinions of banks with good reputations for a mortgage loan. Thanks!What is a good and reputable mortgage lender?
    Listen, you are better off going with a local lender. I can provide you with a page full of nightmare cases of folks who have used on line lenders... Do I need to go there?What is a good and reputable mortgage lender?
    I went with Faith Mortgage for mine, because I'm young and hadn't established much credit.

    How do I know if my mortgage is freedy mac or fanny mae?

    How do I know if my mortgage is with freddy mac or fanny mae? Is there a list of Banks? is it not the bank, but the type of mortgage? I need to know.How do I know if my mortgage is freedy mac or fanny mae?
    here are a couple of web sites that should help.


    http://makinghomeaffordable.gov/refinanc鈥?/a>


    http://loanlookup.fanniemae.com/loanlook鈥?/a>


    http://www.firstmortgagecorpcolorado.com鈥?/a>How do I know if my mortgage is freedy mac or fanny mae?
    Short answer - there is no way to know for sure. Long answer is longer, but same conclusion.





    I find it odd that we cannot know who ';owns'; our mortgages, but that has been the response I have been able to get. I don't think this is right, but there ya go.





    You pay your monthly mortgage payment to a servicer or possibly to the entity who ';owns'; the loan. No way to find out until you go into foreclosure.





    It is not the type of mortgage, rather the entity that bought the loan after you closed on the purchase of your home. Most of Fannie Mae and Freddie Mac mortgages are for conventional loans that ';conform'; to the criteria they set forth (LTV of 80%, no more than a certain max. loan amount, no less than certain credit score, etc.).





    They then have a servicing lender who collects the monthly payments, holds the escrow accounts/pays the insurance %26amp; taxes when due, etc. And the servicing lender is the one we deal with whenever we have an ';issue';. But the servicing lender will not tell you who owns your loan.





    Why do you need to know? If you are able to f ind out something more conclusive, I hope you will post it here.
    To you, the ';end user';, the answer is ';neither';. Your mortgage agreement is between you and your bank. If they sell it off and you're to pay someone else, they'll let you know.





    If you can explain a situation why you feel you need to know then those details might help get a better answer.

    How can I obtain statistics regarding #'s of refinances in California and other mortgage related stats in CA?

    I am looking for a website or some other avenue for retrieving statistical information regarding the number of home loans set to adjust in California in 2008, Number of loan origination is California in 2007, Number of purchases in CA in 2007, etc... If anyone knows of an easy way to find this info please let me know. THANKS!!!!!How can I obtain statistics regarding #'s of refinances in California and other mortgage related stats in CA?
    I am pretty sure that realtytrac has all of that information. They have a great stats section and that is who you see when they report the foreclosures on the news.

    How do you negotiate with a mortgage company when a home is in foreclosure?

    You need to contact your lender immediately. Ask for the loss mitigation department. Lenders are required by law to offer many alternatives to foreclosure, but some of the options aren't available after 60 days. At this stage you can discuss forbearance, repayment, and/ or reinstatement if your financial difficulties are short-term and you want to stay in the home.





    If you don't expect your finances to improve, you may want to put your home on the market before foreclosure begins, but it sounds like the process has already started. If you owe more than it is worth, you may want to discuss a short sale (preforeclosure sale) with your lender. This is where they allow you to sell your home for less than the loan amount. You will incur a tax liability for the amount written off. Short sales approval requires that you are at least 2 payments late and that your home should be able to sell within 90 days- often tough in this market.





    If your situation if long-term but you want to keep your home, explore loan renegotiation (length, interest rate, fixed vs adjustable) or a partial claim on your FHA mortgage insurance. Partial claims are basically interest free HUD loans to get you caught up. The money is due when you sell or after you've paid off your first mortgage. Partial claims are an option if the home is insured and you are 4-12 months late.





    If you or your spouse are in the military or your house is in a federally declared disaster area, there are even more programs to help you save your home.





    Check out these articles for more info and links to HUD and FHA.





    Good luck! Do your research and call your lender immediately!How do you negotiate with a mortgage company when a home is in foreclosure?
    What are you trying to negotiate?





    Your question is way to vague to even take a stab at.

    I work as a temp does it affect my ability to get a mortgage?

    I have worked for the same company for two years and love the variety of being an accounting temporary. I also make more money than as a direct hire. But i want to buy a house before I'm 30 (18 months) and I wonder if i should be looking for a permenant position.I work as a temp does it affect my ability to get a mortgage?
    lil t-


    It will all come down to your income, 2 years of employment is the standard guideline for employment and it seems that you meet that requirement. As far as the temporary part, I hope you mean Part-time, because if this is a temp agency just giving you accounting jobs on the monthly basis, then the answer will be NO, the lender will not feel secure regardless of you working for the temp company for 2 years, there is no job security or pattern established.


    Also think if buying is good for you now, take 28% of your monthly income and that will be the payment including taxes and insurance that you will be able to afford.





    Good luck to youI work as a temp does it affect my ability to get a mortgage?
    You will be OK. You are a long term employee of an agency, the job is not temp, only the assignments.
    no i think you should be fine
    If you're an employee of an agency and have been there two years or more, it could work.


    If you are a true temp and not an employee of a temp agency, then it may effect your getting a mortgage no matter how long you have been at the same assignment. You should talk to a reputable mortgage broker or a seasoned mortgage loan officer at a bank.





    In either case, they will/may ask for your temp contract as well as other employment verification information.

    If a roommate contributes toward my mortgage in my primary residence, is this taxable income for me?

    I'm buying a house that will be completely in my name, but both myself and my fiance will live in it. I bought the house with the intention of my then girlfriend (now fiance) helping pay part of the monthly living expenses (mortage, utilities, etc.). The house will be the primary (only) residence for both of us. Since I'm the owner, I'll be writing the checks to the bank for the mortgage and she'll be giving me a check every month. Is her payment to me considered taxable income for me? Is there a special tax-free provison for shared living expenses? I know it won't matter after we get married, but that won't be until early 2008. Do I have to report every penny that she pays me for the mortgage in 2007?If a roommate contributes toward my mortgage in my primary residence, is this taxable income for me?
    It may be to your advantage to consider her your tenant for 2007. You would record her payment to you as rental income, and then you could deduct half of the mortgage interest, half real estate taxes, half of the utilities, half the repairs and maintenance etc. on Schedule E. Plus, you can depreciate 1/2 of the house for the year 2007.





    You would likely generate a loss that would reduce your taxes.





    You would be able to get some deductions on Schedule E that you cannot get otherwise (such as 1/2 of the utilities, which cannot be deducted for your personal residence).





    You would be able to get deductions on Schedule E even if you do not have enough personal deductions to itemize on Schedule A.If a roommate contributes toward my mortgage in my primary residence, is this taxable income for me?
    Don't pick up her reimbursements as taxable income. If anything, report the amount of mortgage interest you actually paid (50%) as an itemized deduction on Schedule A...if that makes you feel better.
    it depends. you can use it as tax but y would you want to?


    keep cash better
    Sharing of expenses as roommates has no tax consequences for either of you. You don't claim it as income.





    Unless she actually made half of the mortgage payments herself directly to the lender, you are entitled to the full deduction for mortgage interest. Ditto for property taxes.
    get some real advice, don't look here for it for goodness sakes!
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  • How can I pay off my mortgage the fastest?

    My boyfriend of 5 years and I recently bought a house for 70,000. We put 20% down, so now we will have to make payments on just $56,000 on a 7% ARM for 15 years. I was wondering if it's not too insane to get a loan in my name for 28,000 and have my boyfriend get a loan for 28,000 and pay off the mortgage loan. The reason I thought of this is because less would be going out for interest since it's a smaller amount right and we would be able to pay it off way sooner than 15 years. I just don't like the thought of most of my money going towards interest. If anyone thinks I'm nuts say ';I'; and I'm willing to listen to sound advice. Thanks!How can I pay off my mortgage the fastest?
    the interest would be the same if you got the same interest rate, because the loan would be the same just divided. besides you would probably have to pay closing fees again, also new loan fees.


    if you want to pay your loan off faster increase your payment, most of the first 5 years of payment goes to interest, by increasing you payment by $5.00 a month you would pay off much faster. by paying half you payment twice a month it would also pay off faster.


    I just noticed that you have an adjustable rate mortgage, historically mortgage companies raise the rates as fast as they are allowed to according to the contract, a fixed rate at a half percent more would be much safer, and you need to check to see if there is a prepayment penalty, that is pretty standard.How can I pay off my mortgage the fastest?
    The 7% ARM is high, yes. However, you can't get 2 seperate loans in first lien position. You should refinance into 1 new loan at around 6% fixed...not adjustable.





    Here is some additional info. Hope this helps.
    The ARM part is what scares me. Doesn't that mean that the 7% will go up? If you can each get a 15 or 10 year fixed loan at better than 7% (I guess you would use your house as collateral), then I'd do it.
    ';I';





    Before you start making decisions like that, you need to determine what the interest on separate loans would be. The smarter thing to do is to pay your mortgage bi-weekly or even weekly if you can. If you pay more frequently (like bi-weekly) then your amoritization period (the length of time it's going to take you to pay it off) decreases. They can be smaller payments or larger if you can handle it. Find out what the terms of your mortgage are. I have a mortgage that I can make extra payments on and up to 15% of the original mortgage amount annually. Whenever I have extra money, I throw it on the mortgage. The extra money placed on the mortgage goes directly towards the principle - not the interest.





    For my first place, I was single and making less than $40,000/yr. I started with a mortgage of $ 85,000. Every time I got a raise, I increased my mortgage payment. Whatever I increased the payment by went straight to principle - not interest. Within 7 years, when I was ready to sell, I only owed 49,000.





    SO - that would be my suggestion to you. Pay it in shorter increments (bi=weekly or weekly) and pay extra when you can.
    1st things first - get married tomorrow!


    as you stand you have no legal rights to his half of the house should he die or dump you.


    he can force sale the house and you get burnt.


    you need serious legal advice. with out a will the house could be tied up in probate for years.


    2nd - why buy the cow when you get the milk for free? get married tomorrow.


    don't worry about the interest fix your legal problems before you get bent.


    splitting the loans is not numbers smart you pay more in up front costs than you would save in interest. want to save interest just pay down ';principal only' each mth.


    visit daveramsey.com to unlearn what the banks taught - they will not like it.
    If you have positive cash flow, the best way to do this is to pay your mortgage with your entire paycheck and use credit cards or a Home equity line of credit to pay for food and bills. Then pay the entire credit card balances with your second paycheck. You will pay off your mortgage a lot faster because mortgage interest is computed on a daily basis. You're basically playing the same game that the banks are playing with you.





    Check out this website for more details:


    www.normandmike.com





    On a side note, make a contract between the two of you stating the terms of your home purchase and include provisions in case one of you dies, wants out or becomes a vegatable and is unable to pay the mortgage. I see so many people's ';partnerships'; break up and cause the house to go into foreclosure because one person either is unable to make the mortgage payments or doesn't pay them out of spite. It is extrememly important to do this if you live in a community property state.





    Regards
    It won't work the way you describe. Here's why:





    When you get the first mortgage for $28,000, you might get a good interest rate in the 6's, but the 2nd mortgage will likely be HIGHER, like 8-9% because 2nd mortgages are not priced as well as 1st mortgages.





    So you'd have lower payments on one, and higher payments on the other.





    Here's all you have to do: figure out how long until you want to pay off your loan. Say 10 years. Go to a financial calculator, plug in your interest rate, your mortgage balance, and 10 years, and see what your payment will be. Then just start paying that much each month. You can do it yourself, without the refinance charges. Here's a financial calculator you can use: http://www.robhenry.com/calc.htm

    What is the most realistic best Mortgage Rate you can receive now?

    I am looking to buy a house in a couple of months and wanted to find out , theoretically what is the lowest morgate rate one can receive and from who ?What is the most realistic best Mortgage Rate you can receive now?
    I have recently been getting my some of my clients around a 5.875% 30 year fixed interest rate, but it all depends on their situations. I am a national mortgage broker, working with about 150 lenders on the wholesale side, but you may be able to find one locally that would be able to get you similar interest rates if you feel more comfortable working locally.





    But in order to give you a more accurate quote, I would need more information. How much do you make? How much is the home you are looking to buy? What does your credit look like? Do you have 12 months of rental history? of work history? How much are you putting down on the home? These are a few of the questions that I would need the answer to.





    If you have more questions, or would like some more information, email me or check out our website.





    Baconshmals@yahoo.com





    http://aapexfund.comWhat is the most realistic best Mortgage Rate you can receive now?
    Ours is 6.5% with less-than-perfect credit, and a good amount of debt. I didn't think that was too bad considering...
    With really good credit your probably looking at 5.5, anything less is unrealistic because of the recent rate increase. Now if you have low DTI and get a low LTV its possible with an ARM to get lower but not likely unless you buy down the rate. Remember that an ARM will go up over time though. Mortgage Consultant.
    no one has magic money with lower rates than anyone else. check out bankrate.com to gauge your fixed and ARM rates. Just about ANYWHERE you go will be able to offer those rates. Go with someone your family or friends highly recommend and trust.
    Just signed a renewal -5yr @ 5.05%.
    a good rate would be 6.0 to 6.5%. anything less than that is great. it really depends on your credit score. shop around because different companies will offer you different rates.

    How do I find clients for mortgage loans in GEORGIA OR Nationwide?

    I'm a mortgage loan officer. I need to find my my own clients to refinance, purchase or invest. I can do loan almost anywhere but first I need to find the clients (LOL). I've been cold calling but I haven't had any luck yet. PLEASE HELP ME.How do I find clients for mortgage loans in GEORGIA OR Nationwide?
    In my office we do cold calling along with the referrals we get. Starting out it is tough but I would stick to cold calling. The leads we use gets us about 4 apps per 100 calls. We probably close 1 out of 5 of those apps. So it does work for us but it is tedious and can get discouraging when you hear so many no's before you get a yes. We do loans in 15 states so we do have leads that we do not call. GA is one of them. If you would like a batch just email me.





    Good luck.How do I find clients for mortgage loans in GEORGIA OR Nationwide?
    Align yourself with realtors, collection agencies, join a networking club, church, make yourself available to people. I have seen mortgage folks set up at flea markets even.
    There are lots of lead generation services out there that will offer to help. However the industry has a bad reputation and most mortgage leads are sold many times. This is definitely a business where you get what you pay for, so don't fall for the cheapest leads.





    I would look for a company that only provides ';exclusive'; mortgage leads and preferably one that uses telemarketing to generate them. Those usually have the highest conversion rates.
    Internet leads are very competitive and the profit margins are small. Most of the internet borrowers are just rate shoppers, but many have situations that require a knowledgable lender that can match them to the right program.





    Be careful with leads from lead companies. Many are sold and resold time and time again. I have been getting calls for over three years stemming from requesting loan information online and every person who calls me thinks I am a HOT lead who just requested this information today. Never buy leads without a clear refund policy.





    Realtors are probably the most reliable source of leads. If you have a good realtionship with a realtor you can get a list of properties for sale. Send the sellers a financing option sheet for their home. Sellers are desparate to sell their homes and will be much more agreeable to putting out your information than a listing realtor who doesn't know you will. Most of those sellers are also buying another home and will need a new mortgage. Many would like to work with someone so helpful.





    A word of advice - don't try to cover the entire marketplace. Pick a niche or two and learn everything you can about the best programs for that market; first-timers, fixer-uppers, jumbo loans, etc. Whatever you are most comfortable with.
    Sign up with creditwood.com and write financial articles in the mortgage category for creditwood.com and enable users to contact you for advice. The users that contact you become your potential customers.