bamtastic_xicano asked:


Both of my parents applied for an FHA Loan on a foreclosed property. The property was already inspected, appraised, and all of my parents credit and income has been verified by the Lender. The lender already approved the loan and all of the prior to doc conditions have been satisfied. However, almost two weeks later we still do not have loan docs. My agent has already had to extend the closing date 2 times and he is about to ask for another one.
According to the loan officer the FHA processor made a mistake on the loan case number and property address and because of that we have not gotten loan docs until they resolve that. My loan officer, agent, and underwriter have been on the phone with the FHA processor for this loan and all we get is “It should be taken care of today or by tomorrow morning” or “Its on my to do list for today.” Almost two weeks later after the lender approval and still no loan docs.
My parents and I are very concerned about having to ask for a third extension on the closing date and about what is going on, any advice on what we should do? Is there somewhere (FHA number) we can call ourselves to see whats going on? By the way, I asked my loan officer to ask FHA for proof of the mistake on their paperwork and they did sent a couple of documents with a couple of mistakes in the property address.

Pedro

Richard Pettinger asked:




Rising house prices in the UK (and other countries) have made it very difficult for first time buyers in the UK. The ratio of house price to earnings has risen significantly. With average house prices rising to over

lookingforajob asked:


Help, my parents are in deep trouble and they need help, with our mortgage and other debt. Im doing this for my parents, because they dont speak English. They can no longer afford to pay for out house, and would like to consolidate loans/lines of credit/credit cards…are there any non profit company that can help us for some advice.

Thanks in advance

Shannon

rainbow asked:


How to finance a mortgage when you just get employed less than 1 month? I plan to buy a house for $85,000, with $20,000 down and just started working ($15/hour). I had no work history in the last 2 years, no W2 form in the past. I talked to one agent at Chase bank, he said I am not qualified for a loan, and I was in doubt. How could students just graduated, got a job to buy a house? Most graduated students do this right? My credit score is okay, 650 as I remembered the last time I checked

I was employed by my parents business, is this an issue? It is a legitimate business, and my parents paid for taxes every year. My parents are in business for 6 years now.

What are the proof the bank will need? Employment verification letter from the owner of the business?

Do you know any private loan is doing stated income loan?

Please advise

Thanks
I just checked my credit score and it is 770. I think it is good credit score

Marie

madsmom_99 asked:


My husband and I have found ourselves in the unfortunate situation of having a lien put on our home due to past child support. We are in the process of having this straightened out but are concerned that the lien will affect my parents who are co-signers on the loan for our home.

My husband recently finished his bachelor’s degree, and we had been making small but monthly payments to two different agencies. We received notice last August that one agency was increasing his payment, making it a little over double what we had been paying to both. I mistakenly believed that the payments had been combined and started making only one monthly payment. We have since realized that this was not the case, and are making arrangements to rectify the situation. Our main concern is for my parents. We are worried that our mistake is going to affect their credit. Any advise is greatly appreciated.

Hazel

Devin Dozier asked:


We all know what a credit score is. We all know that everyone has a credit score when they start out and we all know that if you want to have and keep a good credit score you have to keep your debts low and you have to keep paying you minimum monthly installments. We also, all know that it is very difficult for anyone to get credit if they have a low credit score or bad credit; however, you will be able to get what is called no credit score mortgage loans.

Buying a home is a major step, and making a decision to buy a home is a big one. It cannot be taken lightly, which is why most people spend months thinking about making the first move, or even before they start researching the topic.

If you are out looking to buy a home then you need to make sure that you know everything about what you need to do and what it entails. Most experts advise that people who are looking to buy a home talk to other people in the situation. This means that you can talk to your parents or even an uncle or aunt about what it is like.

Getting advice is the most important things that you can do for yourself if you are looking to buy a home these days. One thing that you have to remember is that it is hard at the beginning and that it get even harder as time goes by.

If you think that you are ready to buy a home, and that you are ready to settle down and raise a family, then you should start your research into no credit score mortgage loans. This is the first thing you want to do, and the main place to start.



Bertha

Kim N asked:


Recently My parents got a divorce and asked me to take over the mortgage payments, tax payments etc. We need to keep the house since I am the oldest (thank god I graduate college). I have 2 sisters and a brother to take care of. My mom might be getting lay-off soon too. The title was transfered to me and I’ve been making payments. We did not want to re-finance since the interest is now higher and that would cause the monthly payments to increase. We talked to the bank and they have not gotten back on whether they are willing to agree to a novation.

I’m a single female trying to take care of my siblings. Any advise would be great. PLEASE HELP.

Cody