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MORTGAGE SETTLEMENT - latimes.com
3 days ago ... California is back at the negotiating table to potentially take part in a multi-state deal with the nation's largest mortgage servicers over faulty ...
FRB: A Consumers Guide to MORTGAGE SETTLEMENT Costs
The Mortgage settlement process--sometimes called mortgage closing--can be confusing. A settlement may involve several interested parties and a variety of documents ...
Bottom Line - Proposed MORTGAGE SETTLEMENT offers little relief for ...
Jan 24, 2012 ... Proposed Mortgage settlement offers little relief for homeowners. By John W. Schoen, Senior Producer. A proposed $25 billion settlement ...
States share of MORTGAGE SETTLEMENT: $648 million
And unlike big consumer protection settlements in the past, the Legislature wont be able to get its hands on these dollars to balance the state budget, Attorney General Rob McKenna said during a Seattle news conference. McKenna said he met with ...
California calls MORTGAGE SETTLEMENT "inadequate"
California officials are refusing to sign a proposed settlement between U.S. states and the nations biggest mortgage lenders over deceptive foreclosure practices ...
An S.E.C. Settlement, Challenged, Is Approved
WASHINGTON — A federal judge in Wisconsin who challenged the Securities and Exchange Commission last year over the adequacy of a proposed fraud settlement approved the deal this week without requiring substantial changes. The case, which charged Koss Corporation , a Milwaukee maker of stereo headphones, with preparing “materially - By EDWARD WYATT
Bottom Line - MORTGAGE SETTLEMENT leaves most homeowners to fend ...
The landmark $25 billion settlement reached by the federal government, 49 states and the nation's five biggest banks will provide long-overdue relief for hundreds of thousands of homeowners who have been struggling to ...
Do homeowners also get a hit on their credit report if bank agress on settlement under the new mortgage law?
In July, 2008 Bush signed a bill which applies as of Oct, 2008 which will allow banks to refinance troubled mortgages under certain rules such as ( if sell in first year they have to give 100% profit to government) and so on. I like to know if this will effect homeowners credit report if they agree to accept this deal?
Answer: I think Jay is right. People that are being allowed to "modify" their mortgages are the people that are already behind, so their credit has already been negatively affected.
And I think that there will be some sort of designation on the person's credit report stating that the new loan is a "modified" loan... and rightly so. If this person is having trouble paying their agreed-upon debts, and they are offered a way out, any future potential lenders should be allowed to know this information before extending them further credit. It would not be fair to let these people out of $100,000 or more of the debt that they agreed to pay, and have there be no consequences or repercussions whatsoever. Then they could just go out and get into more debt!
I think it should probably work the same way "credit counseling" does- the person's creditors agree to lower their monthy paments and APR, and stop late and over-the-limit fees, but their credit will designate them as being in "credit counseling", so that they cannot just go out and get more credit cards!!!
Category: Credit
What Do MORTGAGE SETTLEMENT Agents Do? | eHow.com
A Mortgage settlement agent works for a lending institution or settlement company to calculate and provide accurate closing costs for some who apply for a mortgage ...
In PA I am refinancing $272,000 mortgage to buy out my home in a divorce settlement...?
I am being charged $1883 for title services and insurance. Does that sound like a fair amount for title services?
Answer: That sounds reasonable and I agree with the other answerer that you should review your HUD-1 statement carefully and question any items on it that don't seem right (or you don't understand).
If you're working with a reputable lender and a reputable title company (remember, you can choose both separately - you are not bound to work with anyone), you should be fine. No reputable title company that has thousands of clients is going to risk losing credibility (and government fines) over some inflated costs. Hopefully you choose a mortgage lender and title company you can trust. If not, start over.
I included a link below with some general guidelines on closing costs. These can vary by state, but this should give you an idea. It also will show you that you're paying what seems to be a reasonable amount.
Good luck with your refinance. You're smart to take advantage of today's low rates.
Category: Renting & Real Estate
MORTGAGE SETTLEMENT Breakdown For Region « CBS Washington
U.S. states have reached a $25 billion deal with the nation's biggest mortgage lenders over foreclosure abuses that occurred after the housing bubble burst. Take a look at each state's breakdown.
US MORTGAGE SETTLEMENT talks face setbacks, again | Reuters
Feb 6 (Reuters) - A multi-state Mortgage settlement in the works for more than a year will likely be pushed back again as dissident U.S. states continue to ...
Source: NY, California to sign MORTGAGE SETTLEMENT - WTOP.com
ALBANY, N.Y. (AP) - New York and California have agreed to sign the proposed settlement between U.S. states and the nations biggest mortgage lenders over foreclosure ...
FAIR GAME; It Has a Fancy Name, but Will It Get Tough?
PRESIDENT OBAMA told the nation last week that he was convening a task force to investigate the abusive practices in the mortgage industry that led to our economic woes. Both lending and the practice of bundling loans into securities will come under scrutiny, he said, adding: This new unit will hold accountable those who broke the law, speed - Gretchen Morgenson Fair Game column contends Pres Obamas new task force to investigate the abusive practices in the mortgage industry has much to tackle in the mess--and soon, if it wants to allay suspicions that the authorities have given powerful institutions a pass. Photo (M) - By GRETCHEN MORGENSON
National MORTGAGE SETTLEMENT All But Inevitable As California, New ...
23 hours ago ... A settlement between the nation's largest banks and the government over allegations of widespread mortgage fraud could come as early as ...
Can a mortgage company charge a lender processing fee at settlement?
I did 100% financing and was charge 1200 dollars for a lender processing fee. Someone told me that they are not allowed to charge a lender processing fee. Is this true?
Answer: Yes they can charge you that, but it should be reflected on your good faith estimate prior to the closing.
Lender's don't charge a processing fee however. Normally they have doc prep, underwriting, tax service, credit report, flood cert. Brokers charge processing but anything over a couple hundred dollars is pretty steep. They are normally the ones who add fees and try to hit you for more at the table.
You can challenge the fee since I'm guessing you already closed. I think you can file a claim with the department of financial institutions in your state.
Category: Renting & Real Estate
New York and California join MORTGAGE SETTLEMENT deal - Feb. 8, 2012
20 hours ago ... Regulators, banks and states attorneys general are hoping to wrap up a possible Mortgage settlement deal to help homeowners by this week.
S.E.C. Is Avoiding Tough Sanctions for Large Banks
WASHINGTON — Even as the Securities and Exchange Commission has stepped up its investigations of Wall Street in the last decade, the agency has repeatedly allowed the biggest firms to avoid punishments specifically meant to apply to fraud cases. By granting exemptions to laws and regulations that act as a deterrent to securities fraud, the - By EDWARD WYATT
MORTGAGE SETTLEMENT Costs
this information on Mortgage settlement costs in response to a request from the House ... A Consumer's Guide to Mortgage settlement Costs | i. Table of contents ...
New Fraud Investigation Group Issues Subpoenas to Financial Companies
WASHINGTON -- A new law enforcement group examining securities fraud from the housing bubble and financial crisis has already issued civil subpoenas to 11 financial companies for information related to their actions in the market for residential mortgage-backed securities, Attorney General Eric H. Holder Jr. said Friday. President Obama announced - New law enforcement group, Residential Mortgage-Backed Securities Working Group, issues subpoenas to 11 financial companies related to their actions in the market for residential mortgage-backed securities. Photo (M)m - By EDWARD WYATT
Source: NY, California to sign MORTGAGE SETTLEMENT - CBS News
Source: NY, California to sign Mortgage settlement ... (AP) ALBANY, N.Y. — A source close to the negotiations says New York and California have agreed ...
What settlement will and wont do for homeowners
WASHINGTON — The Mortgage settlement that government officials announced Thursday is intended to help victims of foreclosure abuses that followed the housing bust. Many companies that process foreclosures failed to verify documents.
MORTGAGE SETTLEMENT Could Buoy BofA Most: Traders
Again, banks landed on the trader radar after 5 of the nation’s largest firms agreed to a massive settlement, ending a government probe into abusive foreclosure practices. Although the terms of the settlement are somewhat complex, RBC analyst Gerard ...
3rd UPDATE: US Banks Have Reserved For MORTGAGE SETTLEMENT
NEW YORK (Dow Jones)--J.P. Morgan Chase & Co. (JPM), Wells Fargo & Co. (WFC) and Bank of America Corp. (BAC) said Thursday they have reserved for their share of the settlement that big banks reached with the Justice Department, the Department of ...
Divorce/MORTGAGE SETTLEMENT Oklahoma questions?
Ok, My ex husband and I got a divorce over three years ago. I was awarded the home subject to the mortgage indebtedness. Recently my ex has been saying that I had three years to change the mortgage into my name. I have reviewed the divorce papers and found nothing to support this. Internet searches specific to Oklahoma has not supported this. Other loans divided in divorce did not have to be changed over; ie loans, cars, etc. He states it is in the Divorce papers. Here is what it says specific to the house or mortgage.
"Petitioner (thats me) is to receive as her sole and seperate property, free and clear of any claims, rights, or interst whatsoever of the repondent (my ex) the home at....subject to the mortgage indebtedness"
"Petitioner (me) is to assume and agree to pay, and hold respondent harmless on any lost cost, damages, liability, or attorneys fees only the lien or first mortgage on the home of the parties"
Help and sources would be appreciated.
well, I do have an attorney and I would consult him, but since I am still paying off from three years ago dont want to incur more. If I felt that my ex was going to actually do anything besides harass me on it I would call him.
The title on the house was put in my name only thru a quick deed within 30 days of the divorce, so essentially if something happened to me, the house would probably be sold and my children would get the equity, all of this thru my father in my will. But yes, you are right that he wants to buy a house and is having problems. Thanks for everyones thoughts, I just wanted to see if anyone picked up something different from the legal mumbo jumbo.
Oh and as for refinancing me, I doubt anyone would since my income is very low, make more in alimony and child support. And the interest rate on the house is 5.85% so, I doubt it could be beat. But I would also like it noted that only one time in three years has the mortgage been late and it was only 15 days late. Otherwise it has been paid religiously. It helps my credit and should help his to a point.
Oh and as for refinancing me, I doubt anyone would since my income is very low, make more in alimony and child support. And the interest rate on the house is 5.85% so, I doubt it could be beat. But I would also like it noted that only one time in three years has the mortgage been late and it was only 15 days late. Otherwise it has been paid religiously. It helps my credit and should help his to a point.
Answer: Presumably you had an attorney. Why not ask him/her?
In any event, there is nothing in the quoted language that supports you ex's assertion.
** Note: This is a general discussion of the subject matter of your question and not legal advice. Local laws or your particular situation may change the general rules. For a specific answer to your question you should consult legal counsel with whom you can discuss all the facts of your case. **
Edit: Dina K is wrong. This is why people should ask attorneys and not rely on advice here.
Category: Law & Ethics
Banks make $25 billion MORTGAGE SETTLEMENT
Under the settlement, servicers will provide cash for foreclosure victims. Individual homeowners should receive on average $1,500 to $2,000. The biggest long-term effect may be new mortgage servicing rules. Despite continued distress in the housing market ...
Feds, states, banks agree to $26 billion MORTGAGE SETTLEMENT ...
1 day ago ... Deal with state and federal governments includes billions for writedowns on loans close to default.
Is the MORTGAGE SETTLEMENT Deal Starting to Unravel? (Updated ...
Commentary on current economic and financial news. ... The Administration had thrown its weight behind getting the Mortgage settlement deal done shortly after the ...
Bottom Line - Mortgage relief: Partial solution better than none
As the clock ticks down on year-long negotiations on a sweeping mortgage relief settlement, the architects of the joint state-federal plan believe it would ...
I got a loan through Ameriquest Mortgage and this loan falls in the timeline of a settlement. I need help?
What do i do to receive money from the settlement?
Answer: I'm not sure I understand your question. I hope you didn't put up the settlement as security in any way.
Call the settlement company or better yet your lawyer and ask the status. Many legal settlements take years.
Category: Other - Business & Finance
MORTGAGE SETTLEMENT has shortcomings, critics say
As the federal government and 49 states signed onto a landmark mortgage relief settlement Thursday, housing advocates and others pointed to some shortcomings and raised questions about how the $25 billion plan would provide relief to nearly two ...
Mortgage servicing talks could yield foreclosure settlement - Feb ...
Regulators, banks and states attorneys general are hoping to wrap up a possible Mortgage settlement deal to help homeowners by next week.
Signing mortgage discharge papers during settlement?
I have been asked to sign a mortgage discharge paper so that my ex can refinance the house to pay out my settlement money. What is this form, if I sign it, am I signing over the house or any rights to any future money?
Thanks
Answer: The mortgage discharge form is necessary for the the organisation that holds the loan over your property can, on settlement, pay out your existing mortgage and pay you what you are meant to receive from the settlement. I suggest, that you talk to your solicitor to ensure that your rights are being respected.
Category: Renting & Real Estate
The positive MORTGAGE SETTLEMENT | Felix Salmon
The long-awaited Mortgage settlement is here! And it looks like a good one.
Todays MORTGAGE SETTLEMENT: Mega-Banks Got a Slap on the Wrist for Trampling the Law (We Probably Dont Even Know the Half of It)
The bank settlement of $25 billion over three years from five major banks for robo-signing forgeries is being hailed in Washington and scoured by leading bank critics. I’m reminded of Groucho Marx, who said upon being invited to join a country ...
Mortgage payoff settlement?
I have a previous residence (lived in 3 of the past 5 years, purchased before I got married). I still own it and am current on the payments. I have an 80% 20% type mortgage on it. The 20% loan is held by Bank of America. I moved into my husbands home and we are renting my previous residence. We are renting it above market value but still losing $800/month on it. I would like to offer B of A 50% in CASH on the balance of the smaller loan just to make them go away. Any recommendations as the most effective way of how to go about this?
That would reduce my mortgage by $575 a month. Otherwise I am going to just stop paying them all together and have to short sell the house. I figure they would rather get ~35k in cash, than the 10K they would get in the short sell settlement.
Problem is, my husband makes A LOT of money and its not a financial hardship. Just a pain in the ass to lose $800/month.
My name is on the title, not his. If I stop paying it hurts my credit but not his.
I have spoken with 3 realtors, 2 attorneys and 2 accountants already.
Category: Credit
MORTGAGES; Mortgages — Shrinking the Escrow
WHEN you choose a fixed-rate loan for a home purchase or refinancing — as more than 9 out of 10 people currently do — only one part of the monthly mortgage statement is ever likely to change: the escrow amount. But with home values sinking, and many people filing property-tax challenges as a result, the monthly escrow could possibly - By VICKIE ELMER
Mass. To Get $318 Million In National MORTGAGE SETTLEMENT « CBS ...
Attorney General Martha Coakley says Massachusetts borrowers will receive about $318 million from a $25 billion national settlement with lenders over foreclosure abuses.
Push to Avert Foreclosures Hits Court Logjam
New York has been among the most aggressive states in trying to protect homeowners from foreclosure, granting new legal protections and turning courts across the state into teeming negotiation centers working to keep people in their homes. But four years into the foreclosure crisis, the state’s courts are largely at a stalemate, facing an - By WILLIAM GLABERSON
Can a mortgage company keep money from a homeowners insurance settlement without paying contractor?
I work for a contracting company and recently we changed the roof on a house that was damaged by a storm. The insurance company sent a check to pay for the work done on the roof. The check was drawn out to the owner of the house and the mortgage company, the owner told the mortgage company to keep the money from the insurance settlement to pay for his past mortgage payments and now the owner has not paid us (the contractor) and the mortgage company refuses to hand over the proceeds to us (the contractor), when the roof has been completely repaired. Is this legal?
Answer: file your contractor's lien on the property immediately. [you did file the necessary building permits and forms, yes?]
then sue. you argument in court is that because your work was necessary to get the house into salable condition, your lien should be paid before the mortgage, just as if the mortgage company had foreclosed and hired you to repair the property.
and get a competent attorney -- who ever drew up your present contracts seems to be a fool. your contracts should have required the owner and mortgage company to bind over the payment to you in advance of you starting the work, with payment to be completed after the roof is inspected and accepted.
Category: Insurance
Schneiderman MERS Suit and HUD’s Donovan Remarks Confirm That ...
Commentary on current economic and financial news. ... In case you had any doubts about what the Mortgage settlement was really about and why banks that were so ...
Massive MORTGAGE SETTLEMENT has winners and losers
“The only people who lose are the people who leave [their houses] and don’t stand their ground,” Weston attorney Roy Oppenheim says. The $25 billion federal/state settlement with the nation’s largest mortgage servicers has created some winners and ...
National mortgage abuse settlement yields Ohio $335M for loan relief, foreclosure education
COLUMBUS, Ohio — Ohios attorney general said Thursday that a landmark settlement with big mortgage lenders over foreclosure abuses will deliver $335 million to the state. Attorney General Mike DeWine said Ohios share of the $25 billion deal ...
MORTGAGE SETTLEMENT, credit question.?
Hi
I recently stop making payments on my 2nd mortgage due to income changes. My bank sent a letter offering to settle the balance. Theyve offered to settle for 17% of my balance, meaning if I agree to pay this amount, they will absorb the remaining balance.
They did note on the letter that this will hit my credit reports, and im wondering how long it will impact my credit. Anyone know? Also, is there a catch to this? it just seems too good to be true... balance is 118k, settling for 20k.
thanks!
thanks for answering my questions! could you tell me if the settlement amount is negotiable? they are asking 17% of balance. can i request for something like 10%?
Answer: It's is actually not to good to be true if you can make it work in any way you definitely should.
The bank is offering this because they are in second position and your first mortgage would be paid off first. A large majority of second mortgages are completely under water and if foreclosed on the would get nothing or next to nothing any ways. Easier to take money from you than pay attorneys and end up with nothing.
Things to point out. Make sure the letter states settlement in full and that they are not attempting to take 20k and call the rest an unsecured installment loan that you would still owe.
In regards to your credit its already getting hit the sooner you settle it the sooner things can be repaired. I your are 120 days or more behind on this mortgage it is considered a foreclosure from the stand point of applying for a new mortgage. You will have little to no hope of obtaining a new loan for 2-3 years. (Some what irrelevant because settling does not change this just helps you keep your home.)
If you are less than 120 day behind when you settle you would be eligible for a new mortgage in 12 months assuming everything else on your credit is kept up with and your score returns to a normal level which it will in that time if you have a decent credit profile. (Other revolving/installment accounts in addition to your first mortgage.)
If there is any way you can make this happen even borrowing from retirement you should strongly consider it if you desire to keep your home. Which I assume you do as you have continued to pay your first mortgage.
you do need to take into account the tax liability.
Best of Luck
Category: Credit
Ive just got a final settlement after finishing my mortgage of £15k. Where should I invest it?
The way markets are at the moment, Im thinking of putting it in a suitcase under the bed!at the moment,
Answer: The markets being low at the moment means that it is a great time to invest your money. If you invest when the market is low you r are in effect buying the fund units or shares at a discount just like going shopping at sale time.
Where and how you choose to invest it will depend on how long you are happy to have the money tied up, what you want from it in the future and the amount of risk you wish to take. The best thing would b to see an indepedent financial adviser who can discuss your needs and circumstances to find what suits you best.
Category: Investing
MORTGAGE SETTLEMENT - latimes.com
California is back at the negotiating table to potentially take part in a multi-state deal with the nations largest mortgage servicers over faulty ...
States Negotiate $26 Billion Agreement for Homeowners
After months of painstaking talks, government authorities and five of the nation’s biggest banks have agreed to a $26 billion settlement that could provide relief to nearly two million current and former American homeowners harmed by the bursting of the housing bubble, state and federal officials said. It is part of a broad national - By NELSON D. SCHWARTZ and SHAILA DEWAN
National MORTGAGE SETTLEMENT All But Inevitable As California, New ...
A settlement between the nation's largest banks and the government over allegations of widespread mortgage fraud could come as early as Thursday, capping nearly 16 months of negotiations. The settlement will resolve ...
$26 Billion MORTGAGE SETTLEMENT – Who Gets What? | The Reformed ...
The New York Times is reporting that the five largest mortgage servicing banks (Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial) and the Government have reached a $26 billion settlement...
States, Feds to announce MORTGAGE SETTLEMENT - Yahoo! News
WASHINGTON (AP) — Federal officials say a deal has been reached between states and the nations biggest mortgage lenders over foreclosure abuses. The Justice ...
NJ Homeowners Due Millions in Foreclosure Settlement
New Jersey homeowners will receive an estimated $762 million in direct relief as part of the $25 billion settlement between five mortgage lenders and 49 states, state officials said Thursday. State Attorney General Jeffrey Chiesa said the settlement ...
Mortgage deal nears as holdout states join - chicagotribune.com
(Reuters) - California and New York, two big holdout states in a $25 billion Mortgage settlement, are expected to join the deal, smoothing the way for an ...
Bottom Line - What the MORTGAGE SETTLEMENT means to you
If you are underwater on your home or struggling to pay your mortgage, you are probably wondering whether you can expect relief under a $25 billion settlement reached by state and federal officials with the nation's biggest ...
How soon after settlement is your first mortgage payment due.?
I am settling on April 1st, i was wondering if I will also have mortgage payment due that month
Answer: Here's the way a mortgage works:
On the day of settlement, interest is charged AND DUE from that day until the last day of that month. THEN another month is permitted to elapse.
THEN the mortgage payment is due.
Unlike rent, which is due and payable in advance, the mortgage payment is due and payable for the time the property WAS owned.
Thanks for asking your Q! I enjoyed answering it!
VTY,
Ron Berue
Yes, that is my real last name!
Category: Renting & Real Estate
Illinois to Get $1B in MORTGAGE SETTLEMENT
Illinois is expected to receive about $1 billion in a multi-state settlement with the nations five largest mortgage lenders, Attorney General Lisa Madigan announced Thursday. Madigan joined with attorneys general in others states and federal ...
Mortgage Relief Plan Is Closer to Winning Support of California
With a deadline looming on Monday for state officials to sign onto a landmark multibillion-dollar settlement to address foreclosure abuses, the Obama administration is close to winning support from a crucial state that would significantly expand the breadth of the deal. The biggest remaining holdout, California, has returned to the negotiating - By SHAILA DEWAN and NELSON D. SCHWARTZ
MORTGAGE SETTLEMENT Talks Look Like Tobacco II - Forbes
Stop me if you’ve heard this one before: Politically ambitious state attorneys general target an unpopular industry with lawsuits based on creative legal ...
Consumer's Guide To MORTGAGE SETTLEMENT Costs - Types of Closing ...
How Much You Will Have To Pay In Closing Costs. Government Imposed Costs, Mortgage-Related Closing Costs And Miscellaneous Settlement Costs.
National MORTGAGE SETTLEMENT Doesnt Protect Against Future Fraud ...
Executives at some of the nations largest banks could be slowing down the national settlement over allegations of widespread mortgage fraud, concerned ...
MORTGAGE SETTLEMENT Talks Look Like Tobacco II - Forbes
2 days ago ... Lacking in all the litigation over foreclosure processing services are borrowers who weren't actually in default.
MORTGAGE SETTLEMENT Promises Reform Of Banks Bad Behavior
As part of the $25 billion mortgage fraud settlement announced Thursday, five of the biggest U.S. banks promised to end practices that have led to botched loan modifications, wrongful foreclosures and unnecessary fees tacked onto the accounts of ...
New York, California to sign MORTGAGE SETTLEMENT - ABC News
California and New York have agreed to join a federal-state settlement involving alleged deceptive practices by five leading mortgage servicing companies ...
Eyes on dissident states as mortgage deal nears
(Reuters) - A broad settlement with major banks over mortgage servicing abuses that would bring relief to distressed U.S. homeowners could be announced as early Thursday, two people familiar with the matter said. Negotiators said a federal-state ...
National MORTGAGE SETTLEMENT: States, Big Banks Reach $25 Billion Deal [UPDATE]
The U.S. government announced Thursday a $25 billion settlement with five of the nations largest banks over charges of systemic and widespread mortgage fraud, in what is being billed as the largest-ever deal on such charges. The settlement ...
MORTGAGES; Mortgages - Shrinking the Escrow
WHEN you choose a fixed-rate loan for a home purchase or refinancing — as more than 9 out of 10 people currently do — only one part of the monthly mortgage statement is ever likely to change: the escrow amount. But with home values sinking, and many people filing property-tax challenges as a result, the monthly escrow could possibly - By VICKIE ELMER
MORTGAGE SETTLEMENT is a godsend
Most efforts to solve the housing glut have led to naught, largely because the banks and state and federal governments have been have so antagonistic to each other. Thats why this $25 billion settlement between the federal and state governments and five ...
Q & A
Who Should Fix a Plumbing Problem? QI was recently told that I have to repair a plumbing problem in my co-ops bathroom. A shower stall that had been installed before I bought the unit is causing a delay in feeding hot water to the apartments above mine. Management insists that I am responsible for fixing the problem, even if the work was done by a - Real Estate Q&A on New York City real estate laws and guidelines governing co-op repairs and sponsor status, and on condominium maintenance fees following a short sale. (M) - By JAY ROMANO
in a divorce do you have to pay half the mortgage until the title is transferred or until the settlement agree?
A settlement agreement was signed November 26, transferring one half of the house to spouse. but that spouse refuses to sign over the deed. It is now April 11. So to what date should he have to pay the mortgage?
Category: Marriage & Divorce
Are settlement costs from a reverse mortgage deductible on my income taxes?
Answer: Mortgage interest is deductible in the year paid. That being said, it's important to note that the IRS considers points to be amortized over the life of the mortgage (this is in fact a grey area, some tax courts have held that the points are deductible up front.) How much money are we talking? Is it worth fighting with the IRS? If so, go to a CPA for preparation. If not, decide whether you want to risk it or not.
Category: Other - Taxes
How does settlement of an underwater 2nd mortgage affect your credit?
My sister is trying to settle an underwater 2nd mortgage with her lender. She has remained current in all payments. Would a settlement for less than the full value of the note affect her credit?
What about if she arranged a short sale of the home? Does a short sale negatively impact your credit?
Answer: Anytime that you do not meet the conditions of the original note it can effect your credit rating. The lender would likely report this on her bureau as "settled for less than full balance" and the next lender would probably avoid doing a new mortgage for her like the plague. A short sale of the home would have nothing to do with the lender unless they didnt get full payment, in which case it would be the same result as the above. Good luck!
Category: Credit
What is a "Settlement Conference" for a mortgage..?
I received a petition and a letter from the courthouse in my county about a scheduled settlement conference in July about my second mortgage.... What does this mean, what happens there?
Answer: It sounds like you went bankrupt or in default on your 1st mortgage... The holder of the 2nd can get a lien on the funds left after foreclosure, but they have to file to do so...
Category: Personal Finance
Mark Gongloff: National MORTGAGE SETTLEMENT By The Numbers
Huzzah, we finally have a massive mortgage-foreclosure settlement! At long last banks will be taken to task for sloppy foreclosure practices that ruined millions of lives. The housing market will get a lift, and all will be well with ...
What % settlement will mortgage lender agree to?
My property was foreclosed upon and my secondary mortgage lenders collection division is pressuring me for settlement. In the negotiation process, is there a rule of thumb that one should follow in determining what % or how many cents on the dollar the lender will agree to?
Category: Renting & Real Estate
What The Mortgage settlement Wont Cover http://t.co/aS7wNpeR via @huffingtonpost From: gmspolitics - Source: The Huffington Post
Massive Mortgage settlement May Leave Out Some Arkansas Homeowners http://t.co/SiyKQO1s From: KARK4News - Source: twitterfeed
RT @AP: Q&A: What the Mortgage settlement will and wont do for homeowners: http://t.co/tqpa2WCb -CC From: iamacanuck - Source: SocialFlow
RT @homessouthfl: $25 billion settlement reached with 5 largest mortgage lenders over foreclosure abuses: WASHINGTON (AP) — A land... http://t.co/XJ5oQf77 From: SusanKennedyKy - Source: twitterfeed
Calculated Risk: Mortgage settlement and Negative Equity http://t.co/VUFHHyWo From: econblogs - Source: HootSuite
US banks in Mortgage settlement: *http://t.co/1TbJGF3R - US banks in m... From: IS_tweeter - Source: hellotxt.com
In the News: No Child Left Behind Roland Martin Pebble Beach CPAC Jeremy Lin Mortgage settlement From: kat021zen - Source: Tweet Button
Feds, states, banks agree to $26 billion Mortgage settlement http://t.co/rPSaha6I From: 1reachiever - Source: USA TODAY for iPhone
Kentucky part of mortgage foreclosure relief settlement - Evansville Courier & Press http://t.co/O9yNyh3j From: PropertyTorrent - Source: Google
Were looking for people who have a mortgage with a big bank. We want to talk to you about the $25 billion settlement that might help you. From: ILsthousenews - Source: HootSuite
RT @AP: Q&A: What the Mortgage settlement will and wont do for homeowners: http://t.co/WvJaaFIr -CC From: JavierSotoTV - Source: ÜberSocial for BlackBerry
RT @AP: Q&A: What the Mortgage settlement will and wont do for homeowners: http://t.co/GPrVnJqd -CC From: IdealHomeLoans - Source: Echofon
RT @BarackObama: The settlement will provide relief to homeowners, end abusive mortgage practices, and "begin to turn the page on an era of recklessness." From: Maryvinne - Source: web
$25 billion settlement reached with 5 largest mortgage lenders over foreclosure abuses: WASHINGTON (AP) — A landmark... http://t.co/s1bDLmOX From: CoralSpringsNow - Source: dlvr.it
#News #Journalism (via @MarkKnoller) ABC, CBS and NBC all lead with todays settlement w/ banks to pay $25 billion for mortgage abuses. From: ampetersen - Source: web