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Raul Said:

I think a Maryland mortgage lender broke confidentiality and violated my privacy.?

We Answered:

"So I told the lender all my income information and how much money I had in the bank etc."

There is something about your question that makes me think you are overreacting. If you meet with the guy and give him your information, that isn't preliminary. And unless he ran your credit without your signature authorization, you don't exactly have a very solid complaint.

I think that both the agent and the lender presumed you were working with that agent, and for that time period, you were, because the house and the lender were both sourced by the agent.

If you give a loan officer your personal information, and they tell the agent who referred you to them what it will take to get qualified, you are grasping at straws. It would have been better for them to have called you directly perhaps, but unless you specifically told them that you did not want the agent involved, they would not have any indication that they should not.

You can complain to the state banking department, but when they answer the investigation, they'll make the complaint look petty and frivolous.

Billie Said:

Trying to refinance home for last 6 months, now mortgage broker says loan is dead. Ripped off? what can we do?

We Answered:

This issue may not be the mortgage broker, but one from Bank of America instead. BoA is huge and has undergone drastic changes since the financial meltdown of last year. Underwriting guidelines are not fixed in stone. What may have been an acceptable credit situation a few months ago may no longer be acceptable. The title firm has nothing to do with the age of the appraisal. That is also a BoA requirement.

When one applies for a mortgage of any kind, there is never a guarantee that it will be approved until it actually closes.

Joel Said:

mortgage consultant " need to increase number of clients "?

We Answered:

Try hanging out at a casino, at the exit door.

Make friends with realtors.

Two ideas.

Tara Said:

Self-employed--how to qualify for a mortgage?

We Answered:

All banks are being tight on approving mortgages - period. Just because one bank turned you down doesn't mean they all will. Keep trying.

Gina Said:

I was wondering if anyone knew anything about USDA mortgage in Maryland? I'm looking for details if possible?

We Answered:

What kind of details do you need besides the following.

1) No down payment required
2) Need a 620 mid score
3) No monthly mortgage insurance
4) Home must be in a USDA designated area - This can be looked up online
5) Can use seller concessions for closing costs or you can roll them in to the loan as long as there is room*
6) The loan does have income restrictions - This can be looked up online
7) Only offers a 30 year fixed loan
8) Is similar to FHA with property condition requirements.
9) Also has a streamline refinance option for down the road
10) Very strict on the maximum debt to income ratio.
Does that help?

Leon Said:

first time home buyer. I have a mortgage for 250,000. My lender is telling me closing costs will be 20,000?

We Answered:

Did they give a breakdown of the costs? What is the big contributor to that $20,000? Is that stuff the lender charges, or stuff on the escrow?

If my memory serves, our closing costs were about 1% on our house, but we had a conforming mortgage, and I'm not counting the down payment in that. Commissions to the RE agents were paid by the seller, so weren't charged to us as the buyer. Same deal for termite treatment and fixing up - paid by the seller, not us.

Brent Said:

mortgage and tax question... in maryland?

We Answered:

You NEED to pull yourself together and think before you act. You are making a mess of your credit history and your life. Take some classes and learn how to manage your finances.

Your statement in not very clear about who did what with which house. You bought the house with your grandfather. Ownership must have been as Tenants in Common, which means each of you owned an undivided 1/2 interest in the house, and upon death could leave it to whoever you wished. Your 1/2 interest was still yours, and his passed to your mother. You had no obligation to move out or to sign your 1/2 interest over to anyone. It is unlikely your brother has any legal grounds on which to sue you, the mere fact that he's paying on a house you own gives him no rights against you, or to the house, absent any agreements in writing between you. Your mother, as your grandfather's heir had a legal right to his 1/2 interest in the home or proceeds upon sale, she's not being unreasonable. Your grandfather chose to not give you his interest in the house upon death, so it devolved to his nearest relative, his daughter.