agaaron asked:


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?

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Tuan asked:


mortgage tax is the same as property tax but mortgage tax is pay to the bank because you borrow the mortgage loan?

Thank you.

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Alberto M asked:


The taxes in our area when up drastically. My friend asked me to review his tax bill and I noticed he did not have a Homestead or Mortgage exemption. He has a 30 year mortgage on the property and it is his only & primary residence. He’s had the mortgage for five years. Is there a way for him to recoupe some of those taxes because he didn’t have those exemptions. Is his mortgage company responsible?
What about the back money that is owed to him because the county was over charging because he did not have those exemptions for 5 years

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Andy asked:


For example sake, say a person has $10,000 to either:

1) pay off a $10,000 balance on a 6% credit card

or

2) pay $10,000 down on a 7% variable rate 2nd mortgage with a $30,000 balance.

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anitak26 asked:


We have an 80/20 mortgage and have tried to refinance with no avail. We did get a 3-yr loan modification, however, after that the price will jump back up again. And if they come after my husband, what do we do then?

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Tina asked:


We are working on a loan modification with our lender. We just found out today that the original 2nd mortgage is getting charged off and was not included in the modification package. What can I do since they never told me the 2nd mortgage was sold to investors and that they can not include it in the modification ? I am a little dumb founded…

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CBS asked:

Scott Pelley reports on the mortgage crisis that’s far from over, with a second wave of expected defaults on the way that could deepen the bottom of the US recession.

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boblachance asked:

This weeks Preforeclosure Tip of the Weekcovers how to get a 1st lien holder (Saxon) to allow a 2nd lien holder (HSBC) more money than the “soon-to-be” standard $3000 that the government is allowing on the new government short sale program.

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Mr. C asked:


My 2nd mortgage is owned by BofA and since BofA bought out country wide my 1st mortgage is now owned by BofA as well. I’m considering walking away since i’m upside down, should i stop paying both mortagages since they are owned by the same bank? and should I also close my savings and checking account at BoA?

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Jewel asked:


I have been making my 1st mortgage payment, my income is not the same. I could only afford to pay my 1st mortgage payment, can they foreclose if I don’t pay my 2nd mortgage?
I have contacted the bank for my 2nd mortgage that I’m not able to pay and apparently they don’t care, they want payment as soon as possible.

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