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 dorrellandbern
Joined: 29 Oct 2007
Posts: 1
1.39 Dollars($)
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 Posted: Mon Oct 29, 2007 6:52 am Post subject: I am past due on my mortgage |
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| My mortgage is in my moms name, I am not on the loan but on the mortgage. Anyway, I am late about three months. I would have like to refinance in my name, but I on a lease car with someone and he has been late with his car payment so my credit is probably messed up. Can I still refinance the house in my name with this car issue or there is nothing i can do. But the thing is also that on the loan I have a clause in my loan which is 80/20 that if I refinance before 2yrs I pay $10,000 each penalty. what can I do? If anything. |
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evolovik26
Community Experts
Joined: 15 Aug 2007
Posts: 482
Location: Minneapolis
19.70 Dollars($)
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| Posted: Mon Oct 29, 2007 1:34 pm Post subject: |
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There is not enough information and i am not sure what you are saying in the first place.
Are you just on the title or the mortgage?
Who else is on the title?
What is your credit score?
How many times was the lease past due and for how long?
Is it still past due?
How much is house worth?
How much you owe on it?
How much money you make?
How much are your monthly payments?
What is your current interest rate?
Is the house currently on the market?
Has the notice of default been sent on the mortgage?
Who is responcible for the mortgage?
Has the house been on the market in the past year and for how much?
There are a few more as well.
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Eugene Volovik
Branch Manager
Team USA Mortgage
612-481-3127
Conventional, FHA and Commercial Lending |
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jenkin7
Joined: 04 Jun 2007
Posts: 939
140.77 Dollars($)
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| Posted: Tue Oct 30, 2007 5:47 am Post subject: |
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Hello Dorrel,
| Quote: | | My mortgage is in my moms name, I am not on the loan but on the mortgage. |
I didn't get you. Could you explain this clearly?
Unfortunately, you will have to pay pre-payment penalties if you refinance, but the new legislation has outlawed such penalties on loans originated after August 2007.
The only way to avoid this is if your lender agrees to waive it. |
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CC
Guest
0.10 Dollars($)
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| Posted: Sat Jan 05, 2008 1:10 pm Post subject: past due payment |
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Hi
I had financial challenge recently, and have made mortgage payments, but was short one month in Nov. With late charges etc. i am past due about 1,000 but continue to make payments. Will be contacting mtge co. to see what to do about catching up, they have never contacted me about incomplete payments. Is that odd? |
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lisascherzer
Joined: 04 Jan 2008
Posts: 746
93.70 Dollars($)
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| Posted: Mon Jan 07, 2008 1:36 am Post subject: Answer to question posted by CC |
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If you fell behind because of an increase of an adjustable rate mortgage then you can look at FHA secure to refinance. Otherwise do contact your mortgage company right away to work something out. It is not odd that they haven't contacted you. They usually dont contact you until they are ready to file foreclosure and when they do it's usually by mail. Be on the lookout for notices that you may have recieved or may be recieving by mail from your lender.
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Allpointe Mortgage
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440-521-7060
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