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Bellboys - Gas Prices and Retail Spending First Business Morning News 3 min 36 sec - Sep 28, 2006 Less cash in your car apos;s tank means more money to spend. Pump prices are down more than 50 cents on average. Do lower pump prices help retail stocks? - yes - confidence improving - RTH close to six month highs o Also helping: market interest rates dropping o 44% of mortgage applications in the last week = refinancing, biggest in a year One retail stock that apos;s jumping is the Gap…close to 12 month highs. What apos;s got the Gap moving? - broker upgrade: but why - MS: encouraged by clothing for sale, new marketing initiatives o Audrey Hepburn fans Does a billionaire shop off the rack? Carl Icahn does. He plans to own up to a half billion dollars worth of Federate Department Store stock. - take him to a 2.4% stake - enough to get heard - FD digesting acquisitions o Leverage with suppliers - real estate play Final Round: MCD has boosted its annual dividend to $1 a share. Will that buy: - Double cheeseburger: yes - Small French fries: yes - Side salad: yes GAP, WMT, Wal-Mart, Federated Department stores, FD, Marshall Fields, Macy apos;s,

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Discover how to Knock Years off your Mortgage with a little known...

Low Cost Home Loans in Bellevue, WA. Steve Bentler Homestead Mortgage. Bentler Video Productions 1 min 12 sec - Jun 10, 2006 Steve Bentler, Sr. Mortgage Consultant Homestead Mortgage provides low cost home loans home mortgages home financing in Bellevue WA and all of Washington State. http:/www.homesteadmortgageloan.com/stevebentler/homepage.html Steve Bentler and Homestead Mortgage offer home loans, home mortgages, home equity loans, home equity mortgages, home refinances, mortgage refinances, debt consolidations, debt consolidation mortgages, debt consolidation loans, refinance, interest-only mortgages, residential mortgages, home financing, refinancing, real estate mortgages, real estate loans, home equity lines of credit, and other lending services. Great Credit, Bad Credit, No Credit, loans with low rates, online real estate mortgage lender, mortgages, lowest mortgage interest rates, lowest finance rates. Bellevue WA Real Estate. Bellevue WA Homes. New Homes for Sale in Bellevue WA. Real Estate for Sale in Bellevue WA. Homes in Bellevue WA. Real Estate in Bellevue WA. Realtor in Bellevue WA. Investment Homes Bellevue WA. Investment Real Estate Bellevue WA. Bellevue Washington Real Estate. Bellevue Washington Homes. New Homes for Sale in Bellevue Washington. Real Estate for Sale in Bellevue Washington. Homes in Bellevue Washington. Real Estate in Bellevue Washington. Realtor in Bellevue Washington. Investment Homes Bellevue Washington. Investment Real Estate Bellevue WashingtonSteve Bentler, Sr. Mortgage Consultant Homestead Mortgage provides low cost home loans home mortgages home financing in Bellevue WA and all of Washington State. http://www.homesteadmortgageloan.com/stevebentler/homepage.html Steve Bentler and Homestead Mortgage offer home loans, home mortgages, home equity loans, home equity mortgages, home refinances, mortgage refinances, debt consolidations, debt consolidation mortgages, debt consolidation loans, refinance, interest-only mortgages, r

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Discover how to Knock Years off your Mortgage with a little known banking Secret United First Financial 29 min 14 sec - Dec 8, 2006 Discover a leverage move that will knock years off your mortgage and save you 10's of thousands of dollars in interest! Learn who to put your Mortgage into submission. Put the Hi Karate Chop on your Mortgage.....Without Refinancing or decreaseing your current monthly cash flow!

Resolved Question: Loan Modification - can it be done just to get a lower interest rate, even if you're note late on payments?

I have a 80/20 loan that I want to refinance to a 30 year fixed loan. I have been told by a broker that it is impossible without some equity in my home. My mortgage is more than my home value. Am I stuck? or Whats my options?

Resolved Question: mortgaged land?

Is it legal to sell land that has two mortgages on it or if i buy it would i be stuck with both mortgage payments? This is on monthly payments from sellers. Or is it possible to refinance it ?

Resolved Question: Loan Modification - can it be done just to get a lower interest rate, even if you're note late on payments?

The house we live in is owned by my in-laws, and we make the monthly note directly to them. We received an envelope from the mortgage company today (which is also our bank) and it was addressed to my father in law (also my husband's name), so we opened it, and it was a copy of a recorded loan modification that was executed by my in laws on April 14, 2008. Why would they have done a loan modification? Is it possible that they would have done it instead of refinancing, just to change some term to the loan? My father in law is very pushy, and if there is any way possible, I could totally see him talking the bank into letting him do a modification instead of refinancing. It's called a Loan Modification Agreement (Providing for Fixed Interest Rate). Or should I be worried that they are having trouble making the payments? Oops, I meant "not" late on the payments. We didn't open "someone else's mail". The envelope was from our bank, where we have our accounts, and a credit card. The envelope was addressed to W_____ S_____, which is my husband, and my father in law's name (jr. and a sr). We had no way of knowing that it was not intended for us.

Voting Question: Paying more on mortgage principle?

As in how many mortgages on average do companies close per month or year, weather it be new mortgages or refinances or whatever.
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Voting Question: what should i do with my mortgage?

what do you suggest? i have high monthly payments and my interest rate is going up in a month, i cant refinance because my credit is not good enough. and my paycheck is lower than what it use to be, so i wouldnt be approved either with stated income..... what do you suggest? foreclouser?

Resolved Question: Does she execute a quit claim deed ?

My fiancee just refinanced her home to remove her ex from the title, note and mortgage. When she closed he executed a quit claim deed transferring to her.

Since I am going to be paying 50% of the mortgage she wants me to be on the title with her and I agree that it is a good thing.

Does she need to execute a quit claim deed from her to her and I and have that recorded?

And finally, to secure her interests in the property for the future, should be not get married, would a simple notarized agreement between the two of us prove sufficient to force me to quit claim the proeprty back to her should we break up and be nullified once we get married (this is my idea) ? Oh, one more thing...by issuing a quit claim, is there any gift tax liability if her equity in the property exceeds the gift tax threshold?

Voting Question: Paying more on mortgage principle?

Due to the economy we have to refinance our 15 yr mortgage back to 30 years. If we pay $100 more to the principle of the loan how many years can we "knock off"? Mortgage loan is about 200,000.

Voting Question: Should I refinance my mortgage now?

The mortgage to our home is in my soon to be ex-husband's name, but the deed is in both our names. I left him (moved out) over a year ago and he has been living in the home and paying the mortgage. He states he will be listing the house for sale by the end of this week if we don’t reach a settlement agreement. He claims there is no equity in the house and he doesn't want to get stuck with all of the expenses of selling. I have an appraisal from when he refinanced last year that says the house is worth more than he owes. But with the current housing market I just don't know if I can expect to get any money out of the house OR if I'll end up being assessed half of the costs of his decision to sell the house. We have a judge's order that states we are free to sell the house. Do I have to agree to putting the house up for sale? Does he need my permission to list the house for sale? Does he need my permission to accept an offer on the house? I can't afford to pay the mortgage or refi. daeve930 is INCORRECT. Those who live in a community property state REGARDLESS of whose name the mortgage is in, ARE LIABLE FOR 50% of "community debt".

If the house sells for less than the mortgage or the combination of sale price, listing fees and real estate fees end up leaving any sort of negative balance it will be BOTH of our responsibility. That's why I asked if I have to agree to the sale. I can't afford that kind of expense!

Voting Question: Should I refinance my mortgage now?

We financed $100K in 2002 at a 6.875% fixed APR. Would it be beneficial to refinance now? If so, should we contact a broker, our current lender, or someone else?

Also, we'll be adding on to our house in about 6 months. Should we wait until then, or will rates go up?

Thanks! :)

Resolved Question: are there any lenders out there that will refinance a mortgage even if i owe more than what it is worth?

I own a 2 bedroom condo where I lived for 4 years. I rented it out for the past 8 months. Now that one of the two guys are leaving, I want to establish this as a second home and apply for mortgage refinancing. The other guy will continue to be in the other room and I plan to rewrite a contract with him since the old one with the 2 tenants is cancelled now. Reading so many posts about occupancy fraud makes me nervous. Will this be considered an occupancy fraud? (I had rather declare it as an investment property if there is a risk)

This condo is in a different state from where I live. I would greatly appreciate your input. Thanks.

Resolved Question: Legal to use home equity to pay mortgage?

I have a fixed mortgage at 6.5% but my home equity loan just dropped down to 4%. Would it be legal to pay off my entire mortgage using my home equity line of credit? Refinancing wouldn't do me any good since no one can match the 4% rate. I just want to make sure something like this is allowed and doesn't run afoul of some federal law or banking rule.

Also, are there any cons to doing this? I'm 10 years into a 30-year fixed.

Resolved Question: Is it worth refinancing my home at this rate 8.3%?

My first mortgage is 210,000 with fixed rate of 7.125% and my second mortgage is 52,000 with variable rate. When I called my lender, they will combine the two mortgage for me with fixed rate of 8.3%. I got 100% financing when I got my home and we only lived here for 1 1/2 year so we haven't really build equity. I only checked with my lender and so far their the only one that would refinance my mortgage. I heard most of the bank will not offer this. Is it worth it for me to do this? Any advise wil be appreciated.

Resolved Question: When is it the best time to refinance a mortgage???

I have my own thoughts on this, but wanted to hear what others think or have done themselves in the past. Lets say someone has a mortage at 7.5 fixed rate. How far should rates drop before a person should considering refinancing and it really benefitting them???. 1%, 1.5%, 2%

Resolved Question: are there any lenders out there that will refinance a mortgage even if i owe more than what it is worth?

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Resolved Question: Is it Legal for a bank to remove an ex husband's name from the original mortgage with the wife?

I have just realized that I am now the only name on the original mortgage on the marital home that I live in after my divorce in 2000. The deed was signed over to me in my name, but I never refinanced the mortgage and yet, I have just recently found out that my ex husband had his name removed from the original mortgage, and I was assigned a new loan number by that bank, but they never notified me and now I am the sole mortgagee. Never did a quit claim. Never signed anything. Never informed. Is this legal or might it have been done in some type of underhanded way by my ex? I have contacted the bank, which no longer has my mortgage, (sold it to Wells Fargo last year) and they said it was done awhile ago, and the girl didn't know why I got a new loan number. I still want answers. Usually a bank will not recognize divorce as a way out of your obligation to them. And, the other party keeping the house, must refinance to get the other's name removed. All answers appreciated.. I am annoyed with the bank about this because if I had known he was "off the hook legally" I would have refinanced when the interest rates were alot lower. I have a 6 3/4 interest rate which is the same as when he refinanced the mortgage during our marriage in 1995. He was the main borrower since he was employed ($100,000 plus a yr.) and I did not work. I feel it was the duty of the bank to at least inform me of what took place. ( Of course he wouldn't!!!) I am in current litigation with the ex since he broke our settlement agreement and it also seems he may have defrauded me out of money from the QDRO that his company calculated when dividing the retirement pension and 401K. This was a 31 yr. marriage btw and he filed for the divorce. I plan on asking my attorney about this but thought I might get some opinions on here.. thanx again everyone

Resolved Question: With a 5 year fixed mortgages, can you refinance at the end of 5 years for what ever the rates are then?

I am in the process of refiniancing a mortgage loan and the loanofficer asked me to bring in 12 months worth of bank statements. to do a FUll DOC loan. now the question is do the banks look at only the amount of money deposited during that amount of time. (AND NOT THE AMOUNT ALREADY IN THE BANK) or do they look at both the deposits and withdrawls. I had about $40k in deposits, and about 20k in savings if they count both they amount to $60k which was withdrawn from my account. the $20k was in the bank from before and left my bank when i closed the loan. the 40k was the amount of money that was put into my account during the past yr. Do you think I can do a full doc loan? my mortgage is 167k.

Voting Question: 12 month Bank Statements for mortgage refinance?

I am in the process of refiniancing a mortgage loan and the loanofficer asked me to bring in 12 months worth of bank statements. to do a FUll DOC loan. now the question is do the banks look at only the amount of money deposited during that amount of time. (AND NOT THE AMOUNT ALREADY IN THE BANK) or do they look at both the deposits and withdrawls. I had about $40k in deposits, and about 20k in savings if they count both they amount to $60k which was withdrawn from my account. the $20k was in the bank from before and left my bank when i closed the loan. the 40k was the amount of money that was put into my account during the past yr. Do you think I can do a full doc loan? my mortgage is 167k.

Resolved Question: With a 5 year fixed mortgages, can you refinance at the end of 5 years for what ever the rates are then?

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Resolved Question: Has anyone heard of an FHA loan that works with refinancing mortgages in case you are "upside down" currently

I live in California and both properties are in California. Primary in San Francisco, rental in Richmond.
If I let the banks foreclose on my rental property can they come after my primary home?
The value of my Richmond property has gone down by 40%, and I owe more to the banks that what I could sell it for. I have been struggling to make the monthly payments since last Nov 2007, and as a real estate agent, I have had no sales since 12/07. Therefore I can no longer make my mortgage payments. I cannot sell or refinance my rental property due to the decrease in value.

I have contacted Bank of America, Washington Mutual and the many "consumer" counseling sites such as 999-hope for help. But all tell me that unless I stop making payments the banks will not talk to me about modifying terms. However, once I stop making payments I will then ruin my credit. And so I have until May 15, 2008 to either make my payment or not. And at this moment I am thinking of stopping payments.

Voting Question: refinance/home equity?

Im looking to refinance,maybe.I could get a home equity to cover the home equity I already have,wrap my current mortgage into that ,maybe 15 years. Not really sure how long I want to be in the house,maybe 5 more years.
I have 93 payments left to pay off the mortgage, thats @ 8.25%,but its a high payment. So im not sure whats best to do , go for the refinanceing,and who knows what cost,go for the home equity,and no cost,or just stay where I am, any help/advice??

Resolved Question: Has anyone heard of an FHA loan that works with refinancing mortgages in case you are "upside down" currently

I was told by a refinance.com agent that I may qualify to have an FHA loan to cover the remaining debt on my current mortgage since I am "upsode down" on my current mortgage, and desperately needing to refinance. Is this possible? He explained that the government is trying to help people keep their homes and lets you borrow that money until the equity in the home returns. Is this true???

Resolved Question: where on a mortgage note does it specify whether or not a loan is considered recourse or non-recourse?

I am working with a company to refinance my mortgage into a much lower fixed interest rate. I have a lender who has approved my loan, but when I called my bankruptcy attroney to get some papers, his assistant told me have a "36 month commitment period" an I can't refinance my house to pay off the bankruptcy for 36 months (I have been in the chapter 13 for 13 months with no late or missed payments). Is there any way around this? The guy I'm working with at the mortgage company said he has refinanced dozens of people out of chapter 13's and has never heard of this.

Voting Question: If we refinance how much money can we pull out of equity?

Me and my wife bought a home about 6 months ago. Our mortgage is for $130,000 and the home is appraised for $150,000. We need around $20,000 to consolidate bills and fix up the house. Can someone explain how this would work out for us and if we would be able to get the full 20k and in what form we'd receive the money. Thanks.

Resolved Question: where on a mortgage note does it specify whether or not a loan is considered recourse or non-recourse?

I bought a home 4 years ago and am now having trouble paying my mortgage. I have a first and second TD, the first was refinanced once as a rate/term refi, and the second, an equity loan with wells fargo, was partially used to cash-out. I have to consider foreclosure as an option, if the lender is not willing to modify the terms, but I'm unsure if either the 1st or 2nd lienholder can pursue any of my other assets, including a property my wife owns free and clear that was gifted from her grandmother, a pretty decent size 401K (over 100,000), or possibly even garnishment of my wages. Credit and Tax issues aside, is there any way the lender will seek repayment through the court system, or will foreclosure pretty much protect me? BTW this house is considered my primary residence. I am also trying to find where on the note/deed of trust that I signed, it states whether or not the liens are considered recourse or non-recourse, but cannot seem to find the pertaining verbiage

Resolved Question: Is an appraisal always necessary [see details]?

my arm loan will expire in 2010. I owe 315K. 25% of the new homes in my community are foreclosing. Builders are still building bigger and better homes in my community and now selling them for over 110K less, OUCH!!!!!!!Because the market doesnt seem to get better, I tried to streamline refinance with my mortgage bank twice early this year, when my house and similia others still valued at 360-375. My mortgage bank told me first to hold off, then they told me the second time that they couldnt close on any loans at the time, because they were watching the market. Now, my third attempt, my mortgage bank tells me I cant because my house doesnt value what I owe.

Am I screwed? What would you do? My mortgage is now 2k. When my loan expires it can go up to 3.2K. I know my house wont sell or refinance. Do you think next year will be a better year?

Voting Question: Does anyone have any experiences good/bad that they'd like to share about HUD?

Am thinking of refinancing mortgage- a friend suggested
HUD (Massachusetts). HUD wants me to meet with them
and bring my bills, ss #, all my personal info and financial
info. I'd like to know what I'm getting myself into before I
actually meet with this organization. What do they do? Who
are these people? Do you have any horror stories or good
experiences to share? Thanks.

Voting Question: Need a good lender to refinance mortgage with bad credit...?

My husband and I have bad credit and we would like to refinance to pay off some debt and wipe the slate clean. Our home is worth about $105,000 right now. We have a $69,000 mortgage now and about $15,000 in debt. We both work full time and we have two children. We make about $3200 a month.

We had always been good with our money and credit. A year ago, my score was 670 now it is 540. We helped out a very lazy family member when they were in trouble and then we got left holding the bag. Then my husband was laid off a month ago for about 3 weeks. We just havent been able to catch up once the fees started pileing. Anyway, I need some recomendations please. Thanks We have only been late on the credit card payments. Never on the current mortgage

Resolved Question: Is an appraisal always necessary [see details]?

I want to refinance my mortgage in Florida. It seems that an appraisal is not always considered necessary, but I keep finding lenders that want to charge me $300 or more upfront. Is that unusual?

Voting Question: Questions about home equity options?

Obama enacts stronger “federal hate crimes legislation” to “reinvigorate enforcement at the Department of Justice's Criminal Section.”

• Obama creates “a fund to help people refinance their mortgages and provide comprehensive supports to innocent homeowners.”

• Obama, following through on his pledge to “meet with the leaders of all nations, friend and foe,” signs a non-agression pact with the Hitler of Iran.

• Obama doubles foreign aid to $50 billion to cut “poverty around the world in half by 2015.”

• Obama removes our troops from Iraq, leaving a power vacuum filled by Iran.

• Obama enacts socialized medicine, destroying small businesses with taxes to pay for illegal alien healthcare.

• Obama enacts amnesty for illegal aliens.

• Obama enacts legislation demanding carbon friendly cars, hammering the final nail in the coffin of the US car industry.

• Barack Obama enact laws to reinforce affirmative action by funneling money to “women and minority-owned business" • Obama repeals the Bush tax cuts.

• Obama enacts the Employment Non-Discrimination Act to entrench the power of the homosexual lobby. this will mean

>>20% increase in your taxes
banning hand guns
banning free internet and radio
imposing fascism immediate and constant flow of your money for his pet africa
disarming america's military and weaponry http://youtube.com/watch?v=dl32Y7wDVDs

this is an interview with OBama who promises to disarm the United States and leave it open to attack Obama promises to do these by EXECUTIVE ORDER or FIAT like a DICTATORSHIP this is all from obama's website

the interview is obama speaking for himself WHO WILL DETERMINE WHOSE SPEECH IS HATEFUL? THAT IS FASCISM it will result in censorship, like bye bye free press even Yahoo Answers will be too free under dictator King Obama regime. He will IMPOSE allowance of gays in the military and gay marriage which will disintegrate traditional marriage (please don't argue that, it's part of the gay activist agenda, written/spelled out!!)

Open Question: Do we have to provide account numbers to refinance our mortgage?

We are trying to refinance our loan, and the loan company wants info for all our bank accounts, including account numbers. Is this really necessary? If so, how can I be sure my information won't fall into the wrong hands?

Voting Question: Questions about home equity options?

My wife and I have a home that have been appraised at $230,000. and we have an outstanding mortgage of $182,000 (3 yr. closed term 5.5%). We would like to move next summer into another house due to a new development in our neighbourhood. We have an outstanding debt of $30,000 which consists of a line of credit at 7.9%, and a credit card at 9.9%.

My question is, should I refinance with another bank at their offered rate of 4.25% (open variable), and move the line of credit over to theirs (4.75%), and use the equity in the house to pay off the debt; or should I wait until next summer and use the proceeds from the house sale to pay off the debt?

Resolved Question: Is there a Mortgage Company that will allow you to refinance your home even if you are upside down?

We cannot REFINANCE! Due to the low housing market we are upside in our loan. We owe $219,000 and my house will only refi for $190 tops. We have an arm that is adjusting at the end of '08 and the payment will be way out of our range. We will not be able to make our mortgage payments. I know you have all heard this time and time again...but I dont wont to loose my home. My husband and I have a 2 yr old and 6 yr old and do not want to loose our home. Should I work with my lender or try to get an investor buy our home now and lease the home from them????? We are trying to work on this now and be prepared for Nov. '08. We dont know where to turn?? Lawyer, financial planner, etc.??? Any suggestions?

Voting Question: Can I refinance an ARM that hasn't reset yet?

I currently have a 5:1 ARM interest only 0 down mortgage on my condo. The market has dropped and I am upside down on my property. I can afford my payments but want to move back up to NH to be with my family and my fiance. I am allowed to refinance next November due to a soft prepayment penalty and my mortgage doesnt reset until 2011. My problem is that even if I rented I wouldnt be able to meet the 1272 mortgage/taxes 325 HOA and 10 % cost of property management for a realtor to manage property. I also wont be able to refinance if I have negative equity and i dont have money to bring to the table. I am just not sure what my options are. Any advice is much appreciated as I have begun to investigate a short sale and I don't think my lender Aurora Loan Services will write down anything on my mortgage to redo the terms. I know I am stuck like many other Americans and I have learned a hard lesson but I am looking for any help or advice. Thank you very much!

Resolved Question: Is there a Mortgage Company that will allow you to refinance your home even if you are upside down?

I owe $306,000 home is worth $275,000... I just would like a low interest rate...
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Open Question: Does the mortgage debt relief act apply to people who refinanced?

AP
Housing aid bill faces veto by President Bush
Friday May 9, 4:01 am ET
House passes massive homeowner rescue plan, defying President Bush's veto threat

WASHINGTON (AP) -- Democrats' plans to help hundreds of thousands of homeowners struggling with rising subprime mortgage rates and plummeting house values could be sidetracked by President Bush's threatened veto and the backing of many congressional Republicans.

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Opponents of the plan say more prudent homebuyers and renters shouldn't be called upon to bail out borrowers who gambled on ever-rising housing prices and lost.

"The American people don't want to make their neighbor's payment when they're having trouble making their own," said Rep. Randy Neugebauer, R-Texas.

The Democratic-controlled House on Thursday passed a homeowner rescue plan that would provide cheaper, government-backed mortgages to half a million debt-ridden borrowers and bolster an economy crippled by the housing crisis. The House approved the measure by a vote of 266-154, with 39 Republicans -- mostly from areas suffering worst from housing woes -- supporting it.

Defying veto threats, the House voted to let the Federal Housing Administration take on up to $300 billion in new mortgages so that financially strapped borrowers facing foreclosure could refinance.

The plan by Rep. Barney Frank, D-Mass., is the centerpiece of a broader package of bills approved Thursday that Democrats say will prevent more foreclosures and help homeowners and communities deal with the fallout from the mortgage crisis.

The measure is targeted at homeowners facing default, including many who owe more than their houses are worth.

For instance, a homeowner who owes $290,000 on a house now worth $225,000 could refinance into an FHA-backed loan if the mortgage holder was willing to take a loss of about 36 percent. The borrower's monthly mortgage payments would fall from $2,200 to about $1,200.

Loan holders would have an incentive to participate, proponents believe, since the alternative would be costly foreclosures, which can involve losses of 50 percent or more.

Supporters hope the package -- which awaits action in the Senate -- will serve as the basis for a broad bipartisan housing compromise that could satisfy both parties' keen appetite for delivering election-year aid to anxious constituents.

But Bush's veto warnings, backed by staunch GOP opposition, are clouding its prospects.

"House Democrats passed bills that they know will never become law. Most Americans understand that we shouldn't create a taxpayer-funded bailout for lenders and speculators," said Tony Fratto, a White House spokesman.

Under Frank's plan, homeowners currently considered too risky to qualify could refinance into FHA-backed loans if their lenders agreed to take substantial losses on the original mortgages. Borrowers would have to show they could afford to make payments on the new loans. They would have to share with FHA at least half of their proceeds if they profited from selling or refinancing again.

The plan is projected to cost $2.7 billion over the next five years.

The House on Thursday also passed, 239-188, a bill to send $15 billion to states to buy and fix up foreclosed property. Bush has threatened to veto that measure also, contending it rewards the very lenders who helped caused the housing chaos and could act as an incentive for them to foreclose rather than find ways to help struggling borrowers stay in their homes.

The bills are H.R. 5818 and H.R. H830

Open Question: Does the mortgage debt relief act apply to people who refinanced?

I hear 2 versions of this story. That the canceled debt from my short sale this year will NOT be considered income and others say it will be because a refinanced and made it a recourse loan. My CPA told me it wont be considered income for 2008 tax purposes and I wont be taxed on it? Any feedback from others?

Resolved Question: I currently have a 3 yr fixed arm, will go up this Oct. up, and it will be a variable interest rate.?

I have money in my 401k - but they will not let me have it - unless I'm in foreclosure - and even then, limited. Can these banks not see how much this money is needed to get out of a horrible mortgage situation?? I want my cash to pay off my 2nd mtg- to be able to refin the first.....

Open Question: When does a buyout of a house need to be finalized in a divorce?

My husband and I have been seperated for 1 year. I have been holding off on filing divorce papers because he has been trying to figure out what he wants to do with our house (both of us are on deed and mortgage). He wants to buy me out...we got the house appraised and found that we have 70K equity. He has agreed to pay me half of that. Here is the problem....he wants to pay me in installments (some at filing, some when the divorce is final, and then the rest about a year later). I believe he wants to split it up like that because he needs time to get the money together from his family (he doesnt have the money on his own). He also wants me to give him an unlimited amount of time to refinance (he cannot secure a loan for the house in his own name at this time) and he wants me to keep my name on the mortgage until he can "afford to refinance". What would you do here? I want him to be able to keep the house, cause we have a child and I want to make the divorce as easy as possible.

Resolved Question: I currently have a 3 yr fixed arm, will go up this Oct. up, and it will be a variable interest rate.?

Can I negotiate with my Mortgage Co? I am behind on one payment and I wanted to know who I could write to to negotiate and have them give me a 30 yr fixed rate, can I do that? I can't refinance bc my home is worth 50k less than what I bought it?

Open Question: My ex's home was sold at sheriff's sale. Mortgage comp. bought house. He told me he is refinanacing. can he?

lowered? without refinancing or having to pay the closing fees again, like we did when we bought the house, someone said that we can pay a small fee to have the payments reduced when we get the principal balance down like maybe $50,000 less than when we bought the house. I hope this makes sense to someone

Resolved Question: Help! Not sure what to do!?

My husband and I have been discussing a couple of options for eliminating debt and thus making life easier. The problem is we are not sure how to do it. We have a 1st mortgage on our home that we have lived in for ten years. We have fairly bad credit, mostly because we have late payments due to difficulty with income and this is why we want to pay off these debts. Should we try to refinance our home, will that give us money to pay off debt, or our other option is to sell the house to pay off our debts and move to an apartment? We have a lot of equity in our home and hate to lose it. What would you recommend we do?

Open Question: My ex's home was sold at sheriff's sale. Mortgage comp. bought house. He told me he is refinanacing. can he?

He lives in the state of maine and the foreclosure papers I've reviewed indicated the State of redemption has expired. How can he refinance a home that is owned by the bank? Is he lying to me? i'm not sure how to add responses. i'm new at this. he hasn't given me any more information other than he's financing. my 15 yr old son lives with him and they totally tried to hide the foreclosure from me. i called the lawyers office in charge of the foreclosure and they told me the bank bought the house back. that is all i know. my ex told me it is non of my business but my son lives with him and i pay him child support. I believe this is my business. I'm not sure how he could buy the house back. You mean, someone is willing lend him money even after having a foreclosure on his credit report??? The house was in both him and his wife's name.

Open Question: Should we refinance our mortgage - just bought the house 6 months ago - Please read . . .?

I refinanced w/ my ex-husband on our home when going through our divorce in 2005. We did not want our 2 kids going through both a divorce and a move all at once -a decision i now regret. We did a subprime loan so I could afford the pymts. He is listed first on the loan. Per the divorce decree, he had to sign a quick claim on the house BUT I was to be moved out of the house by 07/10 and we'd split any equity. Well, the mortgage has gone up $400/mo since and there is no equity. Matter of fact we probably owe $20,000-$40,0000 more than what the house is worth. I signed off on this mortgage thinking we could sell in a few years but I did not know that w/ this loan, mortgage balance increases instead of decreasing. It started out around $220,000 and now is like $240,000+. I want to walk away from the property before another increase but what are my options? I'm not too worried about my credit at this point because it is no longer good from trying to keep up with these outrageous payments.

Open Question: How do I go about finding a company to refinance my home mortgage with?

Lowest rate possible
repubital company
more...

Open Question: Should we refinance our mortgage - just bought the house 6 months ago - Please read . . .?

We bought our house in October and made the 1st payment in November 2007. Our interest rate is 6.25% through Wells Fargo. Our house appraised out at 180,000 and we financed 161,000. We had thought about refinancing to try and get rid of PMI since we have a good bit of equity in the house. I had also wanted to try and go through a local hometown bank so that I could deal with someone face to face when needed. Im just not sure if it would be a good time to refinance with the rates now or what. I also had thought about refinancing to pay off a few credit cards.

Open Question: Am I responsible for an unauthorized real estate appraisel?

My husband makes $100K+ /year; I make about $15K.
He will be getting a $5K "sign-on bonus" in the next month or so.
He has refinanced the house AT LEAST 3 times in the last year, pulling out any equity, skipping mortgage payments (because you can when you refi) and I have seen NONE of this money, don't even know how much it was.
I saw none of our tax return this year (I don't even know how much it was).

I have NO visibility to his bank accounts at all. I am not permitted any access whatever to "his" money.
He brags that he has "about $20,000" in "savings".

I am breaking my back working trying to keep up payments on $10,000 in credit card debt, and not making it. I have NO savings.

Here is my question: am I not entitled to ANY of that money, legally? We have been married for 15+ years and we live in Illinois.

If I AM entitled to it, how do I get it?

Thanks. Cindy B: The question I really want answered is: can I legally claim any of "his" money.

Ladyand: Sorry, can't move to Wisconsin, thanks for the invite, though.

Sammie: I think you are correct about the law. The question is: short of divorce, can I use any of the money for "MY" debt?

King Midas: If I could afford to "stack money away" I could afford to pay my bills!

thingsrgetting: He definitely does not love me or trust me.

Wally Z: Thanks for your answer. Short of divorce or a lawsuit, do you know if there is any legal way to compel him to "share" the money?

sensible_man: His bank statements come to the house. If I was to open one he would go nuts. I did sign the income tax return but I did not get a copy of it and I don't remember how much the refund was. No stimulus check yet-- but here's another question-- what if I refused to countersign it (assuming we get one) unless I get some of it? Midnight moon: "Honestly, with 10,000 in credit card debt, I wouldnt let you near my accounts either." Answer: I didn't 'rack up' the $10k-- he "assigned" this portion of our joint debt to me, and then used 'our' only asset, the house, and his MUCH larger salary to pay off his portion and $20k more.

"But, how sure are you that he really has that money if you arent actually seeing it" I know there was an income tax refund, I just don't know how much, I know about the sign-on bonus because I accidentally saw the offer letter for his new job.

"Beyond that, why are you only making 15?" Because I stayed home with the kids while he went to school and got his degree. is it my turn yet, 10+ years later? "Why is your answer that you are entitled to money, when you cant manage your own. Why isnt your question. how can I go out and make more money? How can I be more effiecient with my credit card payments? Consolodate? Request your account to be reviewed for lower apr?" I am working with a debt management service. I am having a hard time making enough to cover the monthly payment. I am back at school getting my degree, and he is NOT paying for it.

"Do you think he is trying to keep money up so that you guys actually have something to live on when you are retired?" He knows as well as I do that there is no chance we will be together after we retire.

"What if your car breaks down?" I will have to pay for it myself, because he will not pay for it.

"What if there is an emergency?" There have been emergencies: I have paid for my emergencies myself. "And you think you are entitled to waste that money along with the 10000 you racked up in credit card debt?" I think (legally I'm not sure) I am entitled to some input as to how the money is spent. As I said above, I didn't 'rack up' the debt.

"And btw way, 20,000 is a sorry small amount for someone who makes as much money as you say he does." Here I must agree with you-- but he likes to spend money, and that's what there is, apparently.


"Someone asked why you put up with him not giving you money. My question is why do you think he would trust you with access to the accounts?????" I am not asking for access to his accounts, I am trying to find out if I can legally use 'our' money to pay 'our' debts, as he does. The trust issue is another subject entirely.

Open Question: Am I responsible for an unauthorized real estate appraisel?

About a year ago I thought about refinancing my house. I called a mortgage broker and asked him what my payments would be. About 2 weeks later he called me with some figures that were a little too pricey for me so I decided not to proceed. A few weeks ago I received a letter from an attorney representing the appraisel company telling me I owed $400. Now I knew nothing about this appraisel nor the fact that they were trying to collect money from me. I had moved out of my house 6 months ago and have been faithfully receiving my forwarded mail. I never received a bill nor had I been informed of an appraisel being done on my house. I never signed anything with the mortgage company, which as of now has gone out of business. I tried to tell this attorney that I was unaware of this debt but they said I was still responsible. I was just recently discharged of a chapter 7 bankrupcy which obviously didn't include this debt. The attorney said if I don't pay they will sue me. What do I do?

Open Question: I am stuck in a ARM anyone else in this situation?

It appears my property has gone down or remained the same in value, I originally bought my condo for $164,000/no downpayment/2yrs. ago we ended up getting two loans, the higher loan will be adjusting in august. I need to refi asap however do not have the 5-10% that some banks need in order to combine the two (because I have practically no equity/neither do I have the money). So now I'm thinking to just refi the one that will be adjusting which is the higher one, however I heard this is difficult to do because I would have to subordinate the second loan which is the lower one. Can someone please explain to me what that means? Please tell me it can be done and that it is not that difficult.......

Open Question: I want to get out of my mortgage and not pay anything to the bank, How can I do this? Can I file a chapter 7?

I have a house in Stockton and the values have dropped, and dropped and are still dropping! I owe over $300.000.00. I refinanced two years ago and took $50.000.00 out to fix up the place. (At that time the value was $400.000.00 plus. The house next door to me was foreclosed on and the bank just sold it for $170.000.00. and as stated above, the prices have not hit the bottom. Paying on this loan for the next 28 years is not worth it. It would take 28 years or more to just get the value back to $300.000.00 If I'm lucky. Can I get out of this mess?

Open Question: I am stuck in a ARM anyone else in this situation?

We live in Riverside CA area, bought a townhome 3 years ago and got stuck in a ARM sub-prime mortgage, they said i could not qualify for a traditional because of 2 fukin 30 day late payments. I think they were not looking out for our best intreast. My brother and his wife filed BK 4 years ago and just got a 5.75. We this crappy mortage inflated last year to12% and my payment is now 6k a month. To make matter much more pleasant we looked into refinancing found out that the home is worth 100k less then we owe. I know foreclosers are bad on your record buy this is not worth it worst then rent, i burned all of my savings for the diffrence. Yes we make about 100k a year, but its all going to a lost cause. My buddy eric is willing to rent out his town home for 2500 a month. Anyone else in theis situation. Its this feeling of burning money. I am betting this will go up another 2% in a month or two.