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Mortgage Wiki - Questions and Answers

Unanswered Questions (View All Questions) Click any question below to submit an answer.

How would I go about finding a private mortgage investor? Can a HUD1 form be ammended post closing if there is an error - eg: A point should have been charged that wasn't? Where can a realtor go for short sale training? What is included in a short sale package? What are the different stages of mortgage delinquency, from late payment to foreclosure? How long does the foreclosure negatively impact credit? HI everybody, I'm looking to become a private mortgage lender in California. My question is what do I have to do in order to loan out my private lenders' funds to borrowers. Do I need to get a mortgage broker's license or can I just hire a broker and use his license? Do I need to get a securities and exchange license if so how do I go by getting one? Or should I just lend out the money, close with my closing company and not worry about it? Thanks, Mike My daughter name is on a lease while she was married but then she got divorced he signed over the lease in his name they had it noterized and sent it to the leasing firm. Now they are calling her and saying she owes money for the lease on the house. they are telling her she can't get her name off the lease until the lease is up. What should she do? Removing a name from the title as the result of a divorce. What steps are required? My Mortgage Servicer will not provide me with the name and contact information for my Mortgage Insurer or my Investor. I thought I was entitled to this information. Are there any laws to insure I am provided with this information?

Answered Questions (Total: 433) Browse Categories for answered questions.

Date User Question 5/6/2008 Chris Hay When there is a foreclosure and the sale of the property brings more money than is owed against it, who gets the excess? 5/6/2008 Juan Boldizsar What will happen to my mortgage if the holder (Countrywide) goes under? 5/6/2008 Chris Hay I am a real estate agent, and I am representing a client whose property is going through a short sale. There are two questions: 1. Can I buy this property? 2. Can I still representing myself and my client? 5/6/2008 Joe Sheedy If a home is in both mine and my husbands name, can a refinance loan only be in one person's name...or must it be in both? 5/6/2008 Jeff Coon What options are available for down payment assistance for my home purchase? 5/5/2008 Travis M Carter When aquiring a loan for investment property what is the loan percantage - can you get 100% loan on a investment property? 5/5/2008 Jon Hillenbrand If my mortgage is due on the 1st of the month and the past due amount is due after the 15th, what happens to my credit or loan if I make my payment 2 or 3 days after the 1st? 5/5/2008 Travis M Carter I need an example of how the interest on a construciton loan is determined and paid. My construction loan interest rate is 7.75% and I understand that during the constuction phase I am to pay the interest on the amount dispersed. So does that mean that I will own 6 months interest (6 months is the amount of time I have to get the house built) paid over the 6 month period based on the dispersed amount or draws? 5/5/2008 Juan Boldizsar Is it true that you have to own a home for three months before you can sell it. 5/5/2008 Travis M Carter I have a strong refi borrower but the appraisal is a problem. It's a log home with no comps in the area. The appraiser wrote up a supplemental addendum trying to support the property. Two lenders have already turned this loan down because of this. Any suggestions?