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  • Re: Tax Transcript

    Noel, Most lenders will require the 4506-T, even on a streamline, because the secondary market wants it to be included and may not buy the loan without it. While the form states that you should not sign it if it is blank, the lender isn't going to be able to do anything other than get different combinations of the types of transcripts and the years
    Posted to Mortgage Questions (Forum) by Kent Mikkola on Wed, Nov 4 2009
  • Re: MORTGAGE LENDER INCREASING ESCROW

    Yes... I live in Maple Grove and work out of Roseville. I hope she has enjoyed the snow we've already had this year.
    Posted to Mortgage Questions (Forum) by Kent Mikkola on Mon, Nov 2 2009
  • Re: MORTGAGE LENDER INCREASING ESCROW

    Bank of America is regulated by the Office of the Comptroller of Currency (OCC). Contact the Office of the Comptroller of Currency (OCC) here: http://helpwithmybank.gov/ or call (800) 613-6743 Also, here is good info on the escrow accounts and the dispute process: http://www.hud.gov/offices/hsg/sfh/res/resp2605.cfm and http://www.hud.gov/offices/hsg
    Posted to Mortgage Questions (Forum) by Kent Mikkola on Sun, Nov 1 2009
  • Re: Appraisal review by underwriter costs me points at closing

    Tim, Scenarios similar to the one you describe happen everyday. Because of the lending environment, the valuation of homes has taken center stage and no one wants to be accused of inflating values. It is very frustrating to borrowers and brokers alike. Look at the upside. You got a 30 year fixed rate mortgage under 5%. Do you realize just how lucky
    Posted to Appraisal, Title & Inspection (Forum) by Kent Mikkola on Sun, Nov 1 2009
  • Re: How does the 52 pay plan work in a mortgage?

    Could you give us more information as to where you have seen this "52 pay plan"... maybe a website or the nameof the company offering it? There are many companies who offer uniquely named products as marketing gimmicks. Some of these products have little additional benefit over standard mortgages.
    Posted to Mortgage Questions (Forum) by Kent Mikkola on Sat, Oct 31 2009
  • Re: Easements?

    Since there is an easement, your neighbor is in violation of the easement by blocking your access. You and your fellow neighbors who use the road should speak with him and let him know that an easement was granted. Ifhe is unwilling to unblock the road, it would be best to contact an attorney who could provide you with your legal options.
    Posted to Real Estate (Forum) by Kent Mikkola on Sat, Oct 31 2009
  • Re: B of A ARM

    Russell, Unfortunately, the fact that you have been a good customer and are being proactive often times won't help you with the larger banks. You are one among many and often times the bank's policy doesn't allow for exceptions, even when they make sense. I too recommend finding a professional in your area via the Directory tab above.
    Posted to Mortgage Questions (Forum) by Kent Mikkola on Sat, Oct 31 2009
  • Re: Offer guidance on REO property.

    Eli, That is the type of advice you should be getting from your realtor. We have no idea the market conditions that you are working in nor a lot of specific information that your realtor will have. Ask your agent those questions and then act accordingly.
    Posted to Mortgage Questions (Forum) by Kent Mikkola on Fri, Oct 30 2009
  • Re: Are 10% Mortgage Down Payments Available?

    FHA is still doing loans with as little as 3.5% down.
    Posted to Mortgage Questions (Forum) by Kent Mikkola on Thu, Oct 29 2009
  • Re: Cancelling Store Credit Affect on Credit Rating

    It is doubtful that it would significantly affect your credit score either way unless you have very few other accounts on which your score would be based.
    Posted to Other Questions (Forum) by Kent Mikkola on Thu, Oct 29 2009
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