Bad idea: Quitclaiming property while your name remains on mortgage Daily Breeze
Q: When I was married, my wife and I signed a loan to buy a home. We got divorced, but she was awarded the house in the divorce agreement and stayed in the property for a few years after our marriage was finished.
I had to sign a quitclaim deed, and in the divorce decree it was stated that she would refinance if possible. The house went into foreclosure, and was sold, and now the lender is coming after me for some of the money.
Am I still liable for this loan? It has been years since I lived in the property. If I am liable, what can I do to take care of this situation?
A: One mistake homeowners frequently make when getting divorced is signing a divorce decree that requires a spouse to refinance the property at some unspecified time in the future, even though it assigns the ownership of the property to that spouse.
When you signed the quitclaim deed, ownership of the property transferred to your wife. But your name remained on the loan documents. So, your wife got the house,
Refinance Rates California and Your Mortgage
If you are reading up on Refinance Rates California then you are probably just interested in refinancing your mortgage or you are thinking about it. Well first of all, the market for refinance is still quite low in California so you can just get a great deal in doing so. You just need to pick the best people to advise you as well as guide you through the process, after all it isn’t good to just jump into something because you think it is a steal, you just might be the one stolen from. Generally though, refinancing is a great idea or a necessity in life so it is better for you to learn about it before you do so.
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Refinance Mortgage Information
(Best Syndication) This video will explore the option of refinancing a loan as opposed to taking out a second mortgage. When you refinance a ...
Which bank offers the lowest interest rate for mortgage refinance in California?
I need to refinance my second/investment home in Milpitas California and I'm looking for a mortgage broker or a bank that offers lowest interest rate based on 700 or more fico score. Preferably a loan program with minimum monthly payment is preferred.
find the best rate you can find and then add 1% (1 point is what is the standard to add when dealing with an investment home)
A mortgage broker is supposed to find you the best rate from all the companies she works with. If you don't have a good one shop around.
Here is a website to find the average and best rates:
http://www.bankrate.com/brm/default.asp
Which company is the best home mortgage lender to refinance with in california?
I am interested in refinancing my current loan to a fixed rate 30-yr loan. I'd prefer to deal with a lender that is in california. any recommendations? i'd like to hear about your personal experience with the company recommended. thanks!
It all depends on your credit score, type of property, length of loan, etc. You just have to shop them to find the best deal.
We have used a mortgage broker in the past. They run your information through a number of lenders and come back with the best deals they can find.
Some will say that brokers make money off your loan. I understand that they do, I still compare the programs to find the best for me. I don;t care what they make as long as it is a good deal to me.
I am a Mortgage banker in TN & KY
My refinance was ultimately done through a local broker here in Southern California. I used a great website to find the broker. The website that I used will eliminate the fees involved in doing a refinance. It's a pretty cool concept. Hope this helps.
Is California refinance a good investment?
The real estate industry in California, so if sunnier climes beckon to you, a California refinance is the way to go. Source: http://www.whataboutloans.com/state/mortgage/california.html
Refinance a non-recourse loan in california?
Is it true that in california, if I refinance a non-recourse loan (origional first and second mortgages I obtained to purchase a house I currently live in), the loan stays as a non-recourse loan, if I only refinance the balance of the loan, without taking cash out, or adding more things (like car payments) on the loan? Refinanced loan will combine the first and second mortgage into one. What about the closing cost, title insurance, escrow, etc, that will be added on the refinanced loan, does that effect the loan to change from a non-recourse loan to a recourse loan, since more things are added to the orignal loan balance from the first and second mortgage? Will refinance paper work state that it's a non-recourse, or a recourse loan? If it doesn't spell out on the paperwork, how can I be sure that it stays as a non-recourse loan?
Advanced thank you for any answer provided! :)
A non-recourse loan is one where the lender is counting on the collaterall to be worth the loan amount. Correct? So if you refinance both loans, to a different loan program, the non-recourse loan is paid off by the refinance. Simply tell the lender you plan to refinance with that the loan CAN NOT be a non-recourse loan.
http://www.surebill.co.uk
thats who i used last time thay got me a relly good deal
You need to call Frank immediately at 661-635-4900 or 919-802-3119 or 866-728-8587. He can get you financed with his network of over 400 lenders (up to 100%) even with bad credit. He has helped me with 4 properties and it has saved me thousands per month. He also helped me with foreclosures and made me a ton of money. He is an expert in this area.
Is a California refinance any good?
Any good for what? Any loan you get depends on the finance Co. or Lender. The finance and refinance process, in and of itself, is a crooked and deceptive business. Almost all the documents will lead and mislead you. The Good Faith Estimate (GFE) is mostly deceptive, an illusion. The lender can take all their costs, break them up and disperse them throughout the document (doc's) so that you don't know what they are really charging you for the loan.
They will tell you, if you catch it at all, that your Settlement Statement reveals the REAL costs. That's not true either, unless you're at 'closing', signing the final docs, and then they'll tell you the Truth In Lending (TIL) really shows you what you're paying. That's all a matter of interpretation, according to who you're talking to. Remember this, anyone you speak with in conjunction with your loan is/are working for and with someone OTHER THAN YOU.
The loan process, combined with all entities involved, are in cahoots. Mortgage Co's, lender's, Title & Escrow, Appraisal & or Inspection, Notary, down to the final wire, all have a vested interest in encouraging you to CLOSE (sign) the deal. They have a marriage that is codependant on their very survival.
Is any of it any good when it's a purely deceptive business? WE need the loan, they need the business. Look at what's happened with the industry. Had it been above board, people would not be losing their homes. Creative lending is not the best policy. Deliberately screwing people out of their homes apparently isn't either. I could go on and on with this one because there are SO many flaws. There's nothing fair with the FAIR CREDIT REPORTING ACT, RESPA, or the rest of the 'ENTITY'S" involved. Reform is greatly needed.
What is the most current interest rate to refinance my house in California?
I have a mortgage rate of 6.85%. should I refinance now or will interest rates go down more after the president signs the new bill to help mortgage companies?
To give you a definitive answer would require more information about what type of loan you have now (fixed or adjustable), how much your home is worth, how much you still owe, etc. Suffice it to say, if that 6.85% is for a fixed, 30 year, it will probably not be worth refinancing now or in the near future.
Is there an institution in California that will finance/refinance an irrevocable trust at a reasonable rate?
2 trust properties are involved, one owner occupied, the other a rental asset. In May, with a commitment letter from WaMu for a 30 year fixed rate 5.625% and papers ready to be signed, bank withdrew offer and stopped all of these loans system wide.
A trust is a legal entity, NOT a loan. There is NO SUCH thing as an owner occupied trust property. No person owns the trust. It 'owns' itself. The FIRST thing you need to do is take ALL your paperwork to a trust attorney to find out if a trust actually exists. Putting the work trust on the paperwork has NO legal effect.
Is this a good time to refinance my california home?
You should refinance your home only if it benefit you. By that I mean if you want to consolidate your credit cards, and other consumer debts thus lowering your monthly payment out put and taking advantage of tax benefits, Lower your interest rate thus lowering your monthly payments, you have a child entering college and no college fund, invest in another property or stocks that will bring you an excellent dividend or return.
Those are the reasons I would refinance my property located in California or any other place as far as that is concerned.
I hope this has been of some use to you, good luck.
"FIGHT ON"
Which lender in California can I refinance?
I just want to know Which lender is the best which has no any fees, no closing costs, no points, no upfront cost and no hidden cash etc.
Where can I find good Mortgage Leads for homeowners in california who are looking to refinance??
Also Are thet going to be cost effective? I would also like to work with folks who work with direct lenders.
county courthouse. and it's free.
california refinance refinancing - News
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Bailed-Out Banks Charge Taxpayers Highest Fees in FDIC Sales The agency, which established the program to help banks refinance debt maturing this year, said it is considering extending the guarantee’s duration. |
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California Man Barricades Himself Inside Foreclosed Home - The Consumerist California Man Barricades Himself Inside Foreclosed Home The subsidies are intended to function as an incentive for lenders to refinance troubled loans, but its still unclear if the program will be more effective |
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Americas Watchdog Endorses American Interbanc As The Best Mortgage ... - PR Web (press release) Americas Watchdog Endorses American Interbanc As The Best Mortgage American Interbanc currently lends, or provides home refinancing services in the following states; Alabama, Alaska, Arizona, California, Colorado, |
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10-Q: INTEGRATED HEALTHCARE HOLDINGS INC Effective October 9, 2007, the Company entered into new financing arrangements with Medical Capital Corporation and its affiliates (see "REFINANCING"). |
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The Truth About Mortgage Refinancing Revealed By California ... - SBWire (press release) The Truth About Mortgage Refinancing Revealed By California Riverside, California based Mortgage Broker Rick Martinez reveals mortgage refinancing secrets at a new web site that is full of free reports, a home buying Betting it all on the house |