Comments on: Contact Us

By: Ja-Neen

Ja-Neen — Fri, 09 Sep 2011 03:43:57 +0000

Here is a HUGE problem!!!
My son is in the process of purchasing a house. He has been in a legitimate contract (for 2 months ) prior to April 30th 2010 deadline as required! Unfortunately, due to no FAULT of his OWN, but rather that of the Seller’s stall tactic’s and coupled with the Lender’s inadequacies to legitimately fund my son’s loan, he is in jeopardy of losing HIS HOUSE and also in losing HIS TAX CREDIT !!
What can we do as PURCHASERS to avoid the LOSS and the opportunity to exercise what the Obama Administration put into place to assist first time home buyers?
We HAVE met ALL of the expectations of both the SELLER and The LENDER various times! He has been qualified and re-qualified for the LOAN on several occasions by several institutions however, at the last minute possible, in order for the purchase to be made possible my son is being strong armed by the bureaucratic Lender to now sign for the house with conditions he NEVER AGREED to, otherwise the sale is DEAD. He is at the MERCY of this LENDER. and it is WRONG!!!!
We have supporting documentation that the Lender’s irresponsibility and inadequate skills to process the Loan properly and in good FAITH has and will exempt my son from this purchase and from the tax credit as well.
This is obviously a probable situation that was overlooked when the plan was enacted! As the buyer we want answers on how to STILL be able to take advantage of the First Time Home Buyers Credit, when it is no fault of our own that this purchase is a failure due to the LENDER’S inappropriate actions and dishonest behaviors!!!
Respectfully Requesting Alternative Options to make this sale happen with all of the credits available

By: Kathy

Kathy — Mon, 14 Jun 2010 09:46:00 +0000

I have owned my home since 1998. But with in the last 4 years, I have lost my job (laid off), I have divoced, I have a now 16 year old daughter, who is not making things any easier for me. I’m now working a part time job at a local Hospital, but it’s not giving me the income I need to pay my bills. I filled chapter 13 bankrupcy, is there anything I can do??? I don’t want to lose my home. My bank tells me that my loan does NOT qualify for President Obama’s stimulus plan. I’ve been looking for a full time job, or another part time job to supliment my income…but the economy so poor. And I don’t want or need sales calls or e-mails…so if this is a web site selling something…I have no money. Please help…

By: Tanya

Tanya — Fri, 21 May 2010 12:15:04 +0000

Good morning,

I was just inquiring as to how can I apply for the first time home buyer program for the $8000 stimulus package.

Thanks

By: David

David — Thu, 13 May 2010 12:49:51 +0000

Please help me. I have submitted all papers and requirements to Regions Mortgage. As well as Freddie Mac requirements. My Application was submitted months ago and I have been given foreclosure notices and demands to appear in court. The Judge has ordered sale of my house. Regions has stalled and made continuous demands which I have honored. They will not approve my application. And I am desperate and in fear of being evicted from my home and being homeless. I don’t know where or who to go to for help.
Kindly,

By: L. ROMERO

L. ROMERO — Wed, 07 Oct 2009 12:55:21 +0000

what else can you do if the lender’s trial pre payment plan is higher than the regular mortgage payment i have ARM that went from 7% to 10% started from $1325.63(no escrow) to $1893.75 plus escrow $166.56 total $2060.31 in 2 yrs now interest is down to 9% payment of $1704.37 plus escrow $55.52 total $1759.89 trial payment plan is $2200 with escrow i have replied and request if payment can be lowered but did not get any answer/reply, now i have received a note that i am not eligible for the modification program due to did not make the trial payment plan Is there anything else i can do to keep my home

By: Alberto

Alberto — Fri, 02 Oct 2009 19:33:46 +0000

Why are the banks accepting to refinance a Home that was bought,say for $300, and now worth $150? if the Harp program pay up to 105% of the current value ($157.5), what happen to the remaining money? who loses that money? the bank? why are they taking that loss?

I have a good job and stable, and I’m current on my payments… I just refinanced (streamlined) to 5% fixed, my new bank is MetLife… what are the chances that can qualify for this program?

Thanks!

By: Pauline

Pauline — Tue, 25 Aug 2009 03:55:43 +0000

ello,

I am very confused with the Stimulus Package. My question is the Wells Fargo, who is processing my refinancing package under the stimulus plan, if their interest rate of 5.857% (a much higher than current market interest rate) is legal or not.

I purchased my primary residence back in June, 2006 and has lived there since. I have a first mortgage and an equity loan with 2 different banks on my home. Back in May 1, 2009, I contacted the bank who has home equity loan to see about lowering the interest with the first mortgage, Citimortgaage, since the bank that has my first mortgage told me even under the Obama’s Package, I will still have to pay off the equity loan below I can lower the interest on the first mortgage since they do not want to deal with subordination of the equity loan.

So, I went to the bank, Wells Fargo, and on the date I applied, the bank representative told me that I qualified for the plan and that I locked in interest rate of 4.875%. Lo and behold, it took them 3 months to process my application and last week, the bank told me since my house is appraised at a low value, and I have to use up to a 105% to refinance, I can no longer get the 4.875% rate. Not only that, the only interest rate they can give me is 5.875%!. That is even higher than the current mortgage average interest rate of around 5.125-5.25%!. The reason they told me was that the way it is under the 105% Obama’s package. And to get any lower interest rate, I will have to pay point, on top of the I have to fork money out since now my combine loan value is higher than 105% value of my house. So, I will have to pay $8,000 to lower my loan, $1,000 to pay off Citimortgage old first mortgage, and a couple thousand dollar to get any lower interest rate! My current interest rate is 5.857%. That’s what I do not understand. How can the interest rate be that much higher than the market interest rate? Isn’t the Obama’s plan, the one providing the money so we can refinance to a lower interest rate at 105% of our sharply depreciated property value?

What the bank quote me is no help, it’s making everything worse! It’s stealing from people who are in trouble. Can someone shed some light if this is even legal? By that I mean Wells Fargo charging me a 5.857% for a 105% value mortgage! My house appraised at $300,000 due to foreclosure of identical unit. Purchased price was $419,000. First mortgage $323,000 and equity loan $21,000. They will subordinate the equity with my first mortgage at 105% (315,000) of my house value. Is that why they can charge me such a high interest? Is that legal. I desperately need someone to shed some light on this situation. I really want to refinance the first mortgage to a lower interest since I am no longer working and my husband works for the government with mandatory pay cut (furlough days of around 12-15 days for 2009 and 2010).

Your help will be much appreicated.

thanks

By: Mitch

Mitch — Mon, 24 Aug 2009 20:17:31 +0000

I have fallen behind on my mortgage due to the declining economy, I tried doing a loan modification which ended up making my payment more than before. I would like to know if there is anything that could be done to help. I would like to be able to keep my home if at all possable.

Thank You,
Mitch

By: Dallas

Dallas — Thu, 20 Aug 2009 14:32:03 +0000

I am a disabled veteran who is about to lose his home. I was injured in Iraq and lost my job. I fell behind on my mortagage and it has been a downhill ride ever since. I am trying to find out what I can do to prevent the sale of my home and well, start over. I am in desperate need for help with this matter. I have four children and time is not on my side.

Dallas

By: Long

Long — Wed, 19 Aug 2009 14:02:29 +0000

I was just wondering how to get the home owners stimulus package for 2008? Thanks.