Posts Tagged ‘Lost’

what is the best thing I can do at this messy situation?

Posted in Marriage & Divorce on 07/18/2009 05:30 pm by admin
realchineseprincess asked:


Will be ex-, took home equity line of credit under his name but again the house we bought together(still has little mortgage) without me knowing and signing(i have just read the document, no my name, no signature, no fault signature, too). He lost the $ and lost job. what should I do? Can I sue the second lender? How can I protect my kids and I from the lender take the house or after my assets?

DIRK
 

Will i loose my home?

Posted in Renting & Real Estate on 06/19/2009 06:26 am by admin
SBCT asked:


I purchased a home with a childhood friend. Both our names are on the title and both of our names are on the mortgage. We lived in the home together for approx. 1 year and then we moved out going our seperate ways and turned the house into a rental property.

I purchased a second home with my new wife that we currently live in. My childhood friend lost his job a while back and can not afford to pay his part of the mortgage for the house and i can not afford to pay the whole mortgage in addition to the mortgage on the house me and my wife live in. the rental income from the house helps a little but we still have an approx. $1000 difference every month we have to come up with (his half is $500 and my half is $500). what are my options? if we cant pay the rental houses mortgage anymore and it gets foreclosed upon, is my home i live in with my wife in any kind of jeopardy???

selling it is out of the question as the real estate market slide puts us in a negative equity situation.
California……..

How long does it take for my credit to recover from that? 5 year? 10 years?

WILSON

 

If we pay off a loan that has already charged off, what will it do for our credit?

Posted in Credit on 05/25/2009 09:07 pm by admin
Treva M asked:


We lost our home and everything to Katrina. The insurance did not pay, the first mortgage was satisfied by the sell of our land. the second mortgage home equity line of credit charged off our loan without us knowing. They will not work with us at all they want payment including 23,000 in interest. We have been told that even if they would agree to a lesser payment the charge off would still be on our credit? We dont have the house or land anymore Or means to pay.. What can they do if we dont pay, and if we did pay how will it effect our credit? Could they lean the place we are living now?

HOWARD