Mrs Q asked:


we are in a Chapter 13 BK and our 2nd mortgage holder file their claim as unsecure , 2 1/2 years later they wanted to be paid as secured and was denied, fianaly was granted relief and is filing foreclouser, we’ve tried to have them added to our plan as secure but we ( our attorney) can’t get an answer.

Kyle

john b asked:


I am selling my house for $89,900, the buyers said the only way they can get a mortgage for that is to have the paperwork show a sale price of $113,000, with me financing the remaining amount, and then I can write off what I’m supposedly financing without any penalty. How do I write it off?

Cathy

happygirl asked:


The seller of the house that I want to buy says that he will do a seller held 2nd mortgage. How does that work?

Michele

Chris I asked:


I have read that a lender must automatically remove PMI once your LTV is 78% of the original amount financed. I have a single loan, and I bought the property well below market value. Since my loan is not 2 years old the lender will not remove PMI with a simple apprasial. Is the lender required to remove PMI if I use a 2nd on the property to pay down on the first to get below the 78%.
To add a little more detail. I bought this house prior to selling my old one. Now that my old one is sold I find I am a few percentage points away from achieving the 78%
I’m not so sure the bank has a real say once I get to 78% from the original finance amount. The Homeowners protection act(1998) seems to indicate that they have to remove it by law.

Samuel

Chicky-D-Chick asked:


the property is in CA. The original loan was 80/20 100% financing purchase money loan. The creditor is calling that I need to pay them, but I dont have the property anymore. Please help.

Lee