I am searching for a Real estate attorney. I am in the military and was divorced in 2008. I was awarded the home which is in my ex-husband's name. He has refused to sign the home over to me which I am paying the mortgage. I would like to keep the home. Eventually the Army will move me. I won't be able to rent it out, also, I can't apply for the TAX Homestead because it is not in my name. Divorce attorneys don't seem to know what to do. He has refused any communication with me. We have joint custody of or cildren. What happens if the Army wants to send me overseas and I can't contact him for his signature. Please help me. This is jeopordizing my career and my state of being. I have been living his nightmare since the divorce.

Lilia L. Coleman March 10 2010 10:14 AM

I had an offer to refinance my home at a lower rate on a 15 yr fixed with my current lender with no closing costs. Almost sounds too good to be true. Would this be considered a loan modification? I had hurt a modification could hurt your credit rating.

Candace Leedham March 09 2010 4:46 PM

My parents recently paid off their principal balance, and now Citimortgage is telling them they need to pay $9000-10,000 in deliquency charges, insurance fees and other stuff they thought was paid off already. They Had told them to call and they could possibly write that stuff of, now they want that money in a lump sum in the next few days, they recently got out of bankruptcy and cannot even get a loan to get that taken care of. A lot of people just tell them to borrow, but hello, we don't know anybody with that much money! What can they do?

TG March 03 2010 1:58 PM

My wife and I agreed to sell all our non-retirement stocks to pay down our house. We sent Bank of America a certified check for $277,000. I wish I was kidding, but the check has been LOST by BofA. Calling their customer service is absolutely worthless. I had the "research department" rep on the phone and her manager refused to "escalate my issue" and even refused to speak to me on the phone. I am trying to pay down the principle and refinance through another lender. I can't wait to run as far from BofA as I can. Is there any recourse for this bank losing our life savings and then not caring about it? I mean, I'm almost positive that we'll get our money back, but how in all creation can a BANK lose your life savings? Britt

Britt Singleton March 01 2010 4:57 PM

have heard of ways to pay off home loan by means other than mortgage.are their different ways to finance home less costly than mortgages thanks

Glenn February 26 2010 10:43 PM

Well I feel very proud of my wife and myself for being in that 2.7 0/0. We did the very thing that you advised against, $200K mortgage, 30 year note, set our budget for triple payments and added more when we could. Paid off in (are you ready for this?) 8 years. I am in a field where income can be 6 figures one year and (as like now) $0.oo We struggled through the S & L melt down and swore we would never be caught broke again. We basically traded a life for survival

Tom February 13 2010 7:08 AM

Engaged to be married in 05/10. My fiance owns a condo. She owes $160k on it (80/20). The first is an interest-only. Other condos in the complex are now selling for $95-$110k, identical to hers. She is currently unemployed, and studying for her CPA. She has a 750-780 credit score. The bank will not consider a modification because she isn't currently employed. We're considering walking away from it, as the balance hasn't moved with the exception of the 20% 2nd mortgage. Does anyone have any advice that might be helpful? I don't know what my credit score is right now, but we'd like to find-out if walking away would be our best best.

D Frasier February 08 2010 11:27 AM

Want to pay 30 yr. mortgage with 401k down to 80% to avoid PMI. Had mortgage since may 09. What penalty's can I expect? Should of done it at closing in May 09!

Don Yandell February 01 2010 3:55 PM

family member has had a mortage for 3 yrs at 7.46 and wanted to refinance to lower payments.has good credit scores but found out appraisal had dropped $50,000. how is this possible. could they at least lower their rate rather than foreclosure if it comes to that.is their anything they can do?

rita January 31 2010 10:04 PM

We have been forced to have Bank of America as our mortgagee-they bought our mortgage from Taylor, Bean, Whitaker. They didn't tell us it was being sold/bought and we made our August 2009 payment to TBW. Around Sept.5 BAC has been calling (avr. 3x day/night)and writing us saying we are behind on payments. My husband got them to stop calling, now they are hounding us for 2 extra months. I just lost my job and am at wits end. When they call, first thing I tell them is to please sell us!

Joyce Walker January 27 2010 2:41 PM

I think if you are really committed you can get a 309 year loan and pay it off early. We refinanced our home and at the time the rate for a 30 year loan was LESS THAN the rate for a 15 year loan (Jan 2009). We refinanced for 30 years, but have continued the payments at a rate that our home will be paid off in a little over 6 years from now. We have the extra amount automatically taken out of our account as if it were a regular payment, however, in case of a job loss we could change that and not be stressed over losing our home. It can work, but it does require commitment.

Cindy January 23 2010 4:51 PM

Can we control our mortgage being sold from one bank to another? My home mortgage was 'sold' by our local bank 4 times in 6 years. Each time, I had to go to another bank or mortgage company in town to make payments. What can be done?

Dick L. January 18 2010 1:23 PM

we are in process of trying to get a loan modification with GMAC who sold the loan to Freddie or Fannie and they keep asking for more paper work, it has been 3 months and running and now the what one payment to keep it from going into forebarence and they have not given us a answer on the reduction, what are our options?

David Flores January 18 2010 10:56 AM

I have saved 85k and owe 100k on a 30 year mortgage. Should I take out a 5 year loan for 25k and 75k from savings and pay off the 30 year mortgage, leaving me 10,000 for an emergency fund?

DJ January 14 2010 8:54 PM

Thinking about taking some of my 401k and pay off my mortgages 59,000 house worth 145,00 Unemployed and no luck on a job yet. Please advise I will not have to pay 10% pentally only 20% taxes.

johnny conrad January 14 2010 3:16 PM

I have the same question - for housing, what all is included in the 25%? Insurance, mortgage, and property taxes? Thanks!

Susan January 12 2010 7:57 AM

I am living in my home that I am planning to sell within 3 years (military reasons). Do I refinance the home to a lower interest rate (from 6.5% to 4.5% USAA), OR do I stay with the same rate. Upgrades on this home are: heating system, kitchen, and go from a half bath to a full bath (downstairs), which will make this home a 2 full bathroom, with 3 bedrooms. Thanks and God Bless

Bill January 10 2010 1:49 AM

We have a home that we can no longer make payments on. What are the long term ramifications of foreclosure?

paul January 04 2010 12:36 PM

hey im hearing more and more about mortage equity excelerator loans and paying off your house in 5 to 7 years....any body doing it....been seeing it on fox news.....

greg boyd January 03 2010 5:16 PM

I have been out of work for 5 months. I had 4 months of savings. I tried to pay the interest and escrow only on my mortgage. I have never been late with a payment. They immediately turned me over to collections. What else can I do?

Julianne December 23 2009 2:00 PM

I checked my credit report and have excellent credit. I have been unemployed for 1 month now and will not be able to pay my mortgage if I don't get a job soon. If I go into forclosure, how bad will my credit become and how important is it to be concerned?

Atl December 17 2009 7:31 AM

We have a GEM mortgage (graduated equity). It is a unique product to our savings and loan but it works. I know what the statistics are for paying off in 15 years and 30 years. Our kind of mortgage anticipates growth in income over the first five years of the loan...increasing the equity portion of the payment 5% a year, for five years, then stabilizes for the remainder. Ends up being finished between year 19 and 20. Since it starts at the 30 year rate it is less painful but still gets to the goal of not paying so much in interest. Yes, it is possible to "do this yourself." I appreciate the fact a lending institution offers such a product.

Bev Mayhew December 14 2009 1:04 PM

We are at the point of forclosure and have no idea what to do. Making up the difference in payments for ill parents is sucking us dry. We have not been able to make the last two months payments. We have no idea next.

Confused December 13 2009 7:40 PM

Is the 25% of take home mortgage payment to include property taxes and homeowners insurance? Property taxes are pretty high where I am, but I the housing prices are still falling. I am hoping to take advantage of it.

Calculating December 05 2009 3:58 PM

Hi, I'm 40 have 3 kids and have enough money to pay off the remaining balance on my 15 year mortgage. I owe $120,000 on my mortgage that matures in 2018. It's a fixed rate at 4.75%. Does it make sense to pay it off now? I currently have 3x the amount of my mortgage in cash in the bank. My kids are 11, 7, 7 and I am just starting to save for their college now. Any advice would be appreciated.

Dakota November 21 2009 9:15 PM

What tax advantage? If you're married with 2 kids, this year you'll get about a $26k standard deduction from the feds. If you bought a $450k mortgage at 6% for 15 years, you would barely pay more than $26k in interest in the first year, less in the 2nd year, and etc. Therefore, the "the interest is deductible from your taxes" is (expletive deleted).

Al October 01 2009 2:53 PM