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Everything posted by creamy2u

  1. If I file BK Chp 13 one year after my house was foreclosed on can I claim the house in the BK if I had found out over the months that the lender that foreclosed on my house never had any legal title or rights to foreclose on the house. (1 year ago as of next month) Can a BK trustee get it back if the title is clouded because when the lender placed the lien when they had no legal right to do so. They basically placed a lien on August 31, 2008 and then tried to cover up the fact that they didn't own the house by having the original lender transfer all their rights to them (new lender) 13 da
  2. creamy2u

    Short Sale

    I have been helped on here so much for myself, now I need help for my brother. If my brother has an (80/20 loan) sold to two different lenders and he's in the process of selling it through a short sale, do both lenders have to agree to the amount of sale? According to him he received info that says that he should only ask and receive the ok from the lender who owns the 20%. He was told not to ask for approval from the lender who has 80% interest. I told him I thought that he needed the ok from both lenders who have interest in the loans. He paid $210k, he's selling it for
  3. I found out that the mortgage company was in the process of foreclosing on my home. They had a default judgment entered by the clerk of court after no response from me. (I never was served, but thats another story for another time). I go to search online and low and behold I notice something that peaked my attention. The second mortgage company had just received an assignment of mortgage from my previous lender. (Dated 1 day before the default/foreclosure hearing before a judge and 53 days later after submitting foreclosure papers to the clerk of courts office.) WTF???? 1) How i
  4. DTI is all of your debt plus your PITI.......on an 80/20 it would be both payments.......plus any HOA fee's
  5. Thanks Cedski, but what I'm trying to figure out is does the DTI have to be under 50 for both or will they combine 1 DTI to the 2nd DTI. If my 80 is 48.25 & my 20 is 25. something will this keep me from getting a loan bcz I would be over the required DTI of 50?
  6. DTI is all of your debt plus your PITI.......on an 80/20 it would be both payments.......plus any HOA fee's
  7. Please explain how this works: If your DTI has to be under 50 and you get an 80/20 combo is the DTI combined w/both the 80 & 20 or is it a seperate DTI under 50 for each example: 80=48.25 20=23 Total= 71.25 DTI do they total both or as long as your DTI is under 50 under each you're ok? 80=48.25 seperate 20=23 seperate No combining DTI (this way your DTI is under 50 for both qualifying you for a 100 LTV. I hope this makes sense because I'm confusing myself. Thanks in advance!
  8. creamy2u

    Thank You

    Sorry I forgot to post, but I've been extremely busy (painting, packing, etc.). Without a doubt I would have not made it through the process w/o the advice that I read under the mortgage & credit forums. As I stated earlier the closing happened on 8/31 (seller signed day before). Thank you to everyone who read my post while I babbled. It has been one of the most stressful times in my life and being able to vent on CB helped. Once again thanks. I feel really good today and wanted to let others who maybe reading the various post on here know that yes if It can happen for me it ca
  9. thanks mamiof3. Today I spent so much time screaming over the phone that she has scheduled the house inspector to come out tomorrow and verify the work has not only been done, but that its been done properly. It really bothers me that someone would take the time to place putty over rotten wood, paint it and call it a day. Getting down to the wire now. Again thanks
  10. Well folks its been a little while since I've posted so here goes...... Of course if you've read my earlier post the seller refused to close early so the loan died. Low and behold the Lender said we will meet him at the end of the month. Cost to me 2% increase on my rate bcz my mid score had dropped. ok, decided I didn't want the house that bad so sign to back out (still had time under my contingency). After broker contacted lender they agreed to a rate closer to the original rate. I said ok. Fast forward to today- 3 days away from closing and I receive a phone call from rela
  11. Thanks LadySuhada. Tomorrow I will check into this. Reading all of these posts are making me feel worse. Now I'm feeling like OhBoyOhBoy is right. I feel like I owe the seller some kind of apology for thinking he was in the wrong. LadySuhada you're right I should have had the contract explain to me better. Shouldn't my realtor have known this? My realtor has made it seem like this guy broke the contract. The first time I found out that he didn't have to sign until the 31st is from the posting on CB. WTF! I think I better heed the advice here and try to make a bad situation better. I don't
  12. orangecrush please read what I have been saying. Maybe I' writing it wrong so I will try again. When I signed the contract I never focused on any date to close knowing I had until the 31st to close. (Or so I thought)NO PROBLEM. Bcz my original credit report was pulled around the beginning of June I thought that report was no good anymore. Once again my fico scores had dropped when another lender pulled it around the beginning of July. Low and behold my Broker notified me that my original credit report with higher scores could be used by a new lender. I was excited. Catch-I had to close
  13. ***update*** Yes we tried as much as possible to make this work. By the way he had more than 3 days to know we could have closed tomorrow since we sign the contract at the end of July. Thought I was the good guy by saying "hey you can live in my house rent free until you move". Seller spoke to an attorney (or so he says he did) and was told that he has the right to stay in home up to the 30th. He said he doesn't have to close until Aug.31 (just like most have said here on CB. My broker told lender and they have come up with a solution. Hopefully I can meet this new terms, b
  14. Thanks 800score-How ironic if I had your score I wouldn't be in the position. The contract states: on or before 8/31/06. Once again how is this not binding if he knew there was a possibility that this loan would close early. Whats the purpose of the word "before" if not binding. There has been some good advice here. I have been researching online to see what my position is bcz my realtor wants to hold up his home so that he can't accept another bid or up the price. I want to protect myself from paying all of those outstanding inspections out of pocket. Seller has agreed to let me out
  15. markmark1969, no one knew when we would close including myself. But since my report expired tuesday I don't have a choice. As for sweetening the deal, how much sweeter is FREE RENT! I have requested nothing else from him other than to allow me to close this deal and then he can move on the 31st. He is being unresonable. Why include the phase (or before) if a seller won't accept it. Then he should have requested the contract say on August 31. So now that I'm finding out I have no recourse but to have this close and the check sit at the title company. This just seems like I signed a
  16. genseeker: thanks and I truly believe that you are right. He's stalling bcz he knows how much the appraisal came in at. VA Loan Guy: my mid score dropped from 584 to 556. I was fortunate they found this lender. Now everythings about to fall apart. My loan is a 90/10. Do I really have any recourse or am I going to be the loser. Can I just sign on friday and he sign on the 31st? My mind is spinning with questions. In the end I'm probably going to be the loser. I just think I can't sign the release form, bcz then I'll be responsible for the outstanding payments. OMG. Why do peop
  17. If I really needed advice before its 10x's needed today!!! I have a house under contract w/a seller. We both agreed to the closing terms and signed acknowledging that we would close on or before August 31. My lender pulled my credit June 8th and right after that West Asset placed a sprint cell phone collection on my credit report. Of course my fico scores dropped. My broker found a lender who agreed to use my credit report from 6/8 with the higher scores before the 60 day expiration date. I was approved for the loan. Fast forward to today- I signed the contract 7/27 and the seller
  18. creamy2u


    What is the difference between: contract pending & active with contract pending? Thanks, I did try to find answer, but did't find one posted.
  19. creamy2u

    West Asset

    credit, bkinco and VA Loan Guy thank you all for responding, especially credit & bkinco for their bumps. Only VA, Cedski and one more sorry cant remember his logon name usually respond to my questions. I'm from florida and I've never had fl tan welcome me or respond to any of my post other than one where he chastised me for not being patient on a response. This time I did notice he responded to someone else's post early this morning but I'm getting use to no luv frm him. Right now I am sick to my stomach. School is abt to start soon and now I'm late registering the kids to get a go
  20. creamy2u

    West Asset

    Update! Just found out today that it looks like I might have to payoff West Asset. Rep from Opteum pulled my credit reports and low and behold West Asset dropped my scores down to the 577 range from the 594 and 584 midscore. Now my broker says he will shop another lender to receive 90% LTV. WTF. I was told I was approved for 100%. The broker mentioned that he told the rep. that I was disputing trade line, but with him saying he's going to shop around, sounds like I'm not getting this loan. I think that I'm real stupid at this loan game. I was told that I was approved by this mortgag
  21. creamy2u

    West Asset

    VA Loan Guy Thank you again for a quick response. I've learned something new, so if my broker tells me to pay this debt thats not mine, I can refuse knowing that there are lenders that will over look this. I'm feeling much better now.
  22. creamy2u

    West Asset

    VA Loan Guy: Thank Thank Thank YOU. I'm so nervous right now. I would love to know why they don't worry abt. cell phone collections, but right now I'm thankful that you answered my question. Hopefully there won't be another pull. We shall see.
  23. creamy2u

    West Asset

    I really need advice from my CB posters. I'm scheduled to close on a house Aug. 2, with not so great fico scores, but high enough to get me the loan EQ-594 TU-584 EX-575. My mortgage broker adviced me to payoff a debt for Chev. that was 6yrs. old. (2000) I didn't want to do it bcz it would have fallen off soon but by doing so I did get a little boost, bcz recently they were reporting each month giving me a neg. hit. Yesterday I get an alert that there is a new collection reporting from: West Assest for a sprint acct. in the amt. of $300. As you all know I got a neg. hit from
  24. ***update*** Offered more money. Downside: They want me to pay for all of the closing costs. Also this time individual has their own Broker. more deposit only $1000, but as I've learned in the long run they can get that back if they really want. previous contract cancel and the jerk gets his $500 (so why the deposit anyways I don't know). closing (maybe) in 15 days. contingency: 3 days to inspect. (Someone please explain the reason for an inspection if its a as is sell). I'm sorry but I just can't feel excited about this until I have a check in my hand. Befor
  25. no contingencies such as? Please do tell, what should I watch out for?
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