home mortgage loans

senora511 asked:


She died instestate. I have 7 siblings.What are my rights to the home. This is the state of Maryland. The law says that it is to be equally divided. She also had a reverse mortgage of $85000.00 as of June 05. I have put thousands of dollars into this home,because at that time she had no income until 1990. I paid all of the bills and made repairs to the home. What can I do to keep the home? I do not know if we have joint tenancy. The deed of trust that was sent to me when the house was originally paid off has my name firts and then hers. NOTHING was changed in the state of Maryland files as far as I could see. I need help. The Reverse Mortgage people will NOT talk to me even tho I sent in the forms and was approved by the bank in Nov 05 to pay off the loan. They as of this date will not talk to me.My mother died October 05.

ADOLPH

THe T asked:


Foreclosing houses, people moving back in with there parents, can’t buy a home, can’t get out of a terrible home loan? What’s your story?

Who’s to blame for this mortgage crisis?

ELDON

NYC Sewers asked:


Why sit on an upside-down mortgage when I have approved a bail-out plan for homeowners?
my impression is that this homeowner bailout is only more welfare and affirmative action. most people who are paying their monthly mortgage hate this bailout. i don’t know. people confuse chimpanzees and that is why we attack them every chance we get. yieek! yieeeeeeeeeek! bite, twist and tear, someday they will go away!

ARON

Sallie asked:


I just heard this (if I heard correct) on the radio news while washing my dishes. The news said to stop all the foreclosures that are happening now and to save the market from collapsing. Anyone else knows more about this. I think I heard President Bush wants to make this happen. Another question; is it only for the people that are facing bankrupcy or is this open to all homeowner’s?

GRAHAM

Antonio Redford asked:


Life is all about planning the right moves and doing the right things. People take ages to plan out the right things for their future. In fact, all around the world, people generally do a lot of planning for their retired life. People work hard for years to earn good remuneration, good position in life and obviously, to secure their lives and the lives of their loved ones. In fact, we all need to understand one thing that life changes a lot after retirement therefore; one has to be really well prepared to face the challenges of retired life. The primary challenge after retirement is the problem of constant cash flow. As one finishes with his or her job, monthly income stops and this can be a major problem. When throughout his life a person works, he definitely wants to spend his retired life with full respect and without taking help from anybody. Reverse mortgage loan is one facility that is offered to the senior citizens of the United States of America, which helps them to live their retired life according to their own terms.

Apparently, reverse mortgage loan is not a new concept in the United States of America. A reverse mortgage loan is a special kind of a loan that was introduced in the U.S. twenty years back. The main forte of a reverse mortgage loan is that it is exclusively made for the citizens of America who are sixty-two years of age or more. This loan is generally used to release the home equity of the property as one entire amount or in bits and parts. The house owner’s duty of repaying back of the loan amount can be postponed until he or she dies and the house is sold or the owner leaves the house. The reverse mortgage loan was introduced to help the senior citizens who have retired and want to live their lives on their own terms.

Well, there are some basic differences between a traditional mortgage loan and a reverse mortgage loan. The main difference is that in a reverse mortgage loan the borrower can continue living in his house that has been put up as a mortgage to the lender whereas, in a traditional mortgage loan the borrower cannot continue staying in his house that he has put up as a mortgage to the lender. Moreover, in a traditional mortgage the borrower needs to make monthly repayment of the loan amount. However, in reverse mortgage loan, the repayment does not need to be made in monthly installments and the entire interest is added up to the loan secured from the property. Although, reverse mortgage loan was introduced twenty years back in America, it gained its due importance among the senior citizens three years back.

There are some requirements that are needed to be fulfilled before someone applies for a reverse mortgage loan. The primary requirement is that the borrower has to be of sixty-two years or more and the borrower has to have a house of his own. Reverse mortgage loan has been of great assistance to retired people as it has managed to provide them with financial security and has given them the option to live their life according to their own terms.



ROBERTO

vixxen asked:


My grandma is near 80 and my granfather is mentally gone.She doesnt want to be in the house when people are viewing her home.So, I think the best way is for her to see the home she wants to buy, get a mortgage for it, move and THEN sell her home. It is just my dad an I helping her.Any advice?
Yes, grandma wants to sell her home and move to either a senior community or a new home all together.
Her house is paid for.

HERSHEL