YoungGirl asked:


I have two loans- 441,000.00 and 77,000.00. House is only worth about 520,000.00. I need to get out of it asap. Can I offer the lender of the second mortgage some money to get out of it before I do a short sale on the first? I was thinking about $1000 to $5000. Thanks! I need all the answers I can get.
I owe 520k, it may only sell for that amount if I’m lucky, definitely not more. Can I please have people with experience in this answer the question. I’ve read that in some short sales, the second mortgagee gets zero.

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Angelic asked:


My credit has been destroyed. I have a foreclosure and 2 repos on my credit. Will I be able to “start over’ in a couple years?How difficult is it to obtain financing after such detrimental blows to my credit? Thanks

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Jennifer asked:


FHA Doesn’t apply for what we are trying to get.

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samsrei asked:


Im looking to attract more clients and I was wondering for any loan officers who have done it, if putting in a 3 lined ad in a 200k circulated paper might be good for attracting promising clients. If so whats the guestimated number of calls that you have recieved from putting it in the sunday edition, and what are some reccomended tips on whats to say in the ad? “We will work with you”? “100% FHA financed”?

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YoungGirl asked:


I have Chase home finance for a first mortgage(80%) and a second with GMAC mortgage(20%). Have any of you had experience of doing a short sale with them. Will they approve it?

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neo555 asked:


I’m thinking about a second home or vacation home, rates are much, much lower here versus latin america.

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Just Me asked:


I want to build a small house in a rural area but I am single and don’t make a lot of money. Are there any special lower-interest loans available that I might qualify for?

(If students can get scholorships for school I was thinking there might be special programs out there to help people to buy/build homes. This would not be my first home so I guess I wouldn’t qualify for Fannie Mae)

This is really mportant to me so please let me know if you have any information on mortgage/construction loans that might help me. Thank you!

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Dr.Tim asked:


I have signed a contract for my first house with a 30 day settlement(subject to building inspection/pest). I’m organizing my finances as we speak.

My nominated lawyer thinks we should meet up on monday… Why would i want to do that?

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