As my 1st mortgage in going through a HAM modification, my 2nd mortgage, originated by the same company as the 1st, was assumed by the lender’s MI after an insurance claim was paid to the lender. What right does the MI have to seek collection for the 2nd?
Posts Tagged ‘insurance’
After a claim is paid by a mortgage lender's MI, can the MI collect from the borrower?
Saturday, March 13th, 2010Can I rent out my home with a VA mortgage?
Friday, February 26th, 2010We are getting stationed out of state and having a hard time selling our home. We have been living in it for a year and thinking if we can’t sell to rent it out. Is this an option for us? Do we have to contact the VA or our mortgage company to let them know we are wanting to rent it?
A little information on refinancing through Obama's mortgage stimulus plan please?
Wednesday, February 10th, 2010Our friends down the street told us that they are currently in the process of refinancing their home for a fixed rate of 2% through Obama’s mortgage stimulus plan. Money signs instantly popped up in my eyes, because who wouldn’t love to save a few hundred bucks a month? Would we be able to qualify?
A little background info…we are not in any real "financial hardship" per say, but are a single-income family and our mortgage takes up about 1/3 of our income. We have a 5.75% fixed rate, down payment of 0,000 from 2005 and a Principal balance of 0,000. So our monthly payments are a little over ,000 (including taxes & insurance.)
What kind of requirements need to be in place to qualify for this? Any help would be appreciated– thank you!