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luckydriver

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  1. i'm at 81.9% so i guess that was close enough but BBT sent me a letter saying HUD no longer requires the insurance from me. in 2010 i know i got in under the old law because new FHA is permanent from my readings on here. ill take the win!
  2. https://www.nbcdfw.com/news/local/New-Texas-Law-Aims-to-Protect-Consumers-From-Debt-Collectors_Dallas-Fort-Worth-511750262.html am i hearing this correctly that after 4 years you cannot be sued for your old debts? if so why wouldnt everyone move to texas assuming you dont mind negative reporting of course.
  3. i know since this is online it has to be true but i wanted to verify here Passing the Home to Relatives Your estate is responsible for paying off debts, but real estate is unique. Under federal law, lenders must allow family members to take over a mortgage when they inherit residential property. This prevents lenders from demanding payment under a due-on-sale clause, which would be triggered when ownership transfers to your heirs. CFPB rules say that heirs do not need to prove they have the “ability to repay” the loan before taking over the mortgage situation is mom and daughter in house both on social security. is 100K LOC outstanding on the home and its about 200K value. no way could daughter get approved for a mortgage and mom and child have no assets to pay this off. daughter wants to live in the house and continue to pay LOC under old terms.
  4. do you pay the old debt at closing or do you pay it months before you even start to look at a house it would stink if she got the debt paid and still didnt qualify for the mortgage
  5. a friend i havent talked to in a while wrote to me to catch up and says she's ready to buy a house. then asked her a few questions and she wrote the following below. i'm pretty sure paying old debts is bad but can you explain this to her better than me with each of her points? I HAVE MY BANKRUPTCY ON THERE FROM 9 YEARS AGO BUT SHE TOLD ME SINCE ITS OLDER THAN 7 YEARS IT WILL BE OK AND THE ONLY THING SHE TOLD ME TO PAY IS AN OLD ELECTRIC BILL FROM MED ED THAT’S LIKE 600 DOLLARS THAT I REFUSED TO PAY BEFORE CAUSE ITS WRONG BUT I HAVE NO CHOICE NOW OTHER THAN THAT I ONLY HAVE 2,000 DOLLARS MEDICAL BILLS IM WORKING ON AND THERE ARE 2 REALLY OLD CREDIT CARDS FROM 7-8 YEARS AGO WHEN I HAD MY IDENTITY THEFT. BUT SHE SAID IF I PRODUCE THE LETTER FROM IRS SHOWING MY IDENTITY WAS STOLEN THEN THAT WOULD HELP. OTHER THAN THAT SHE HAD ME OPEN UP A COUPLE OF CREDIT ACCOUNTS AND I BEEN USING THEM THEN PAYING THEM OFF TO GET MY SCORE TO INCREASE.
  6. this is regarding unclaimed property. if an item is reported to the state as john smith OR mary jones, when the state pays out the money they change the title to john smith AND mary jones this sounds illegal to me for a state agency to just change the title of a bank account or other instrument that has been registered as an OR account. presumably the 2 adults that set up the account did OR vs AND for a reason. can anyone think of a legal reason the state just can change the account title?
  7. well she deleted the ad, i guess my specific questions were too much for her to handle. darn, i really wanted a 6K expensive house some day. much better deal than i got before😛
  8. why wouldnt it be smart. is the interest rate higher? i'm still shocked u can get in a house that much with so little cash with 620 score. i thought they were scamming /bait/switch.
  9. interesting. well i saw someone advertise to get you in a 200K house with only 6K cash and i totally called BS on it. i'm truly amazed this is possible. 3.5% of 200K is 7K so i didnt think FHA went below 3.5. obviously theres some great program out there i never heard of because i thought you had to pay all the fees on the HUD form at closing but i must be wrong then if someone can get me in the home for 6K. when i did a 186K refi i had 12 in closing costs. ill have to get my next mortgage from this stranger on the internet , i really never thought ads like this were legit.
  10. is the above possible under any program you know?
  11. another question i neglected to ask from the mortgage originators on this forum. would you give someone a mortgage to buy my house given all the circumstances above maybe i'm worried about nothing
  12. so this is still going on. the bank is apparently asking for bank statements and actual proof of payment and not accepting the hud form that shows it was paid in 2008 for the refi. not accepting that i got 2 new 1st mortgages since then and then a new heloc. the only true paperwork i have, or the mortgage servicer has. is my HUD sheet. i realize alone this is not gospel but geez um. and the servicer says they dont have 10 year old payment records. i am unsure if i have old credit reports from that time but certainly if i stopped paying on the loan wouldnt that be reflected negatively after 2008? or since it was BK in 2005 would it not be able to legally be reported that i stopped paying? so lets say i go to sell the house tomorrow and the lien pops up. will the title company pay off the lien since i paid for the title insurance. if not, whats the point of title insurance if not to pay off things like this? because in the end as long as the title company pays off the lien and i can sell thats all i'm really worried about. also realistically, will the buyer of my house even have anything to worry about. the 3 people that gave me new mortgages were happy to give me the money, why wouldnt it be the same for someone that goes to buy the house? basically i'm asking why i got 3 mortgages if the house truly had a lien from 1997 on it?
  13. so then mom can be covered even if the car is not listed on her policy then? i just was thinking if kid has state min. of 5K property and hits a 50K car then mom has to come up with 45 K but the car is not listed on moms policy and i thought that would be an issue. id had assumed mom needed to pay additional premium since a new car is in her name too. she obviously thinks doesnt have to be on her policy since it's on kids own policy. then again. mom has no assets and is judgement proof so i'm sure i'm worried about nothing. she doesnt care why should i
  14. if a parent cosigns the loan must they be on their kids insurance policy? both live under the same roof and before this transaction, have individual auto policies in Pennsylvania. assume both are on the car title as well because i forgot to ask but what CU would give you a loan without you being on the title? its members 1st in harrisburg PA

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