reverse mortgage
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Divorcing - What Happens When You Cannot Afford Your Mortgage on Your Own?
Asked by A.D. from New York
on January 26, 2011
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Has anyone been in a situation of divorce where none of you can afford the mortgage on your own? Did you just both move out and ruin your credit (stop paying the mortg...
Answers
- Most peope do not stop paying their mortgage. The fate of the house is determined in your financial settlement. If one person can continue to pay the mortgage once the...
- Working through the numbers I'd get the house, but even with alimony & CS, wouldn't be able to make half the mortgage. HOWEVER, I could fix it up a tad and lease i...
- Normally the house is sold and any equity is split between the two parties.
Reverse Mortgages- Are You in It, Pros and Cons
Asked by P.O. from Jacksonville
on July 15, 2010
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I feel there are more cons than pros but please give me your feedback if you participate in this and how it is working out for you and if you know someone who has done...
Answers
- I agree with Dave Ramsey. Although it sounds very intriguing, especially when advertised by famous people, it's not a good idea. I went to an Estate Sale last week...
- Dave Ramsay's advice is NEVER do a reverse mortgage. I'm sure you could google his opinion on them for more explanation.
- I think the demographic on this web forum, for the most part, is under the age of 62 and therefor does not qualify for a reverse mortgage. Maybe check with the AARP? ...
Home Owner's Insurance
Asked by C.G. from Tampa
on February 13, 2008
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Hi. I need to find a resonable Home Owner's Ins. because when we paid off our home here through our sales up North my husband didn't bother to apply for the insurance....
Answers
- Hi C., you can call Annie Warner at Florida Insurance Center. She is wonderful and has really helped me out a lot. her number is ###-###-#### or 1-800-741-6802
- C., Our homeowners insurance is thru Bouchard Insurance Agency in Clearwater. They matched me up with a great company at a good rate. ###-###-####. I am a member o...
- We had good luck with Amica Ins. Their rates were very competitive - five yrs ago at least. I don't know what the rates are like now, post hurricanes, or whether they ...
Switching from Bank of America
Asked by B.R. from Naples
on May 26, 2011
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My husband has had it with Bank of America and the fees. We have a mortgage, equity line, savings, money market, two checking accounts, three business checking accoun...
Answers
- I have bank of america and If i have pending charges that will make me negative and i deposit a check thru atm, my check goes thru first and i am back in the black, c...
- I would look into local Credit Unions. We use a local one here in So California and have never had issues with them. It's "member owned" not "corporate owned" so they'...
- I am a huge fan of Fifth Third Bank. I only have checking accounts, but they are reliable and helpful. Their online system is completely up to the minute. For examp...
Affordable Home Programs
Asked by N.D. from Chicago
on August 3, 2010
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I'm looking to get feedback on the Affordable Home Modification Program. After the death of my father last year, my mother is having trouble keeping up with the mortg...
Answers
- It is unfortunate your father didn't have the insurance on the house that would pay it off in the event of his passing but you can 't live life in reverse. Any kind...
- Hi N., Avoid the reverse mortgages. There is too much fine print. They may not all be bad but I went to an estate sale where I thought the lady had died and she had...
- Hello, I agree with the other comment. Reverse mortgage is more like a big scam. Google homeowner assistance program. From what I understand you need to be current o...
Misogyny or Is He Just Trying to Do the Right Thing for His Customer?
Asked by D.H. from New York
on October 17, 2011
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This is a long story so thanks in advance for your patience. I wish I had some today.
Dad is on a fixed income with a small savings and a house with significant equ...
Answers
- If you are concerned with this broker's business practices, I advise that you report it to your state's Division of Finance. In Missouri, our state DoF will quickly i...
- It has nothing to do with hatred of women, D.. It has to do with covering his behind. HE is one of the many bankers who contributed to blowing up our economy. This ...
- Misogynistic implies discrimination or negative thoughts based on gender. The underwriter is a woman and the broker is a man, but why would that mean the broker is bei...
House Going Under
Asked by M.P. from Dallas
on September 24, 2008
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Someone has approached me with a situation that I know nothing about. They are in the situation of walking away from their home. They contacted investors to purchase...
Answers
Seeking Help in Saving My Home from Foreclosure!
Asked by D.L. from Daytona Beach
on September 10, 2009
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I am in need of advise help anything at this point to shead some light on my situation. My home is going into foreclosure after 15yrs of paying my mortgage. I have an ...
Answers
- Hi D., I am so sorry to hear that you are going through foreclosure. It is such a hard time to go through. Please visit www.premierinvesting.net... they offer a free ...
- Has anything changed in your income this year to prevent you from paying your mortgage? The reason I ask is you may qualify for a loan modification. I lost my job in...
- Have you contacted the mortgage company. They will usually work with you rather than foreclose. I would tell them your situation with your son. I would also try and co...
Home Building - 1 or 2 Story - Utility Cost Concerns!!!
Asked by S.R. from Dallas
on February 24, 2012
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In my wildest dreams, I never imagined we'd be BUILDING our first home, but here we are! Thank you Lord for your blessings!!
Hubby and I are butting heads on 1-sto...
Answers
- As you can determine by now the answer lies in the quality of your insulation and windows and I can add a good radiant barrier. You can throw out all the answers from ...
- The utilities factor is just a smokescreen to your true feelings: You are worried about the larger house payment. The answer is to go with the smaller, less risky fin...
- hi we live in north FTW area and went from a one story to a two story (from 1800 to 3500 sf) we don't have a very expensive home so I would say the building products ...
Should a Father Who Is $30,000 Behind in Child Support Have More Kids?
Asked by K.S. from Phoenix
on May 21, 2011
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My ex is $30,000 behind in child support and recently had a reverse vasectomy to have a baby with his new wife. I'm not sure how much the procedure cost but I don't b...
Answers
- Uh. No. NO NO NO NO. and more NO's, until he is caught up on payments and keeps up. But you knew the answer to this one, it's just that he is making you so crazy yo...
- I don't think anyone can afford to have more kids. I also dont think it's anyone elses call whether they do or not. Do you owe anyone money? Mortgage Company? Stude...
- No they shouldn''t but because he is a man, our govt, will not make it a law for him to stop having children.. Our govt only tries makes it so women do not have ch...
