NLIC.org

Sharon Said:

Can any Mortgage Broker help us?

We Answered:

Yeah, something is fishy. I am a real estate pro. It makes no sense. I got a friend that lends in Colorado, and deals with hard cases. Feel free to e-mail me at sst_vandy_2000@yahoo.com with your contact info, to hook you guys up.

Dustin Said:

The mortgage holder of this house is deceased, can the bank foreclose with quitclaim deed?

We Answered:

they can and will foreclose unless you get ahold of them and make arrangements, it is actually not that cost effective for the banks to foreclose so they will try and help if you make the initiative if not...

Tyler Said:

Can I get a new mortgage w/a Tax Lien?

We Answered:

On a refinance, yes, this can be done. In fact, it's going to be a condition of the loan in all probability.

Just talk to some lenders. I recommend you speak to no less than three before choosing one. Talk to as many as you have the stamina for. Start the conversation with "We want to refinance." and then see what they do next. Reject any lender representative that tells you anything before asking you questions.

Stella Said:

Foreclosure: Walking away from my house?

We Answered:

If the house is worth less than you owe then yes they can come after you for the remaining amount. I would look into a consumer credit company before walking away from your house as long as you can still pay your mortgages. Also you have to think about how long you will be staying at your moms if you walk away. You won't be able to buy another house and some apartments might not take you either. Or you could lastly talk to an attorney and see about filing bankruptcy.

Cecil Said:

Bad Credit Mortgage in Colorado....is it possible or should we just file Bankruptcy?

We Answered:

Filing for bankruptcy won't help your credit score... it will make it worse. Keep renting, repair your credit. Talk to a loan officer at a bank or credit union about how to improve your credit. Take their advice.

Loans are based on several things. Your credit history, your length of employement at your current job, your debt-to-income ratio, the value of the collateral (in this case property) compared to how much you want to borrow, AND your 'character' as perceived by a loan office.

You don't always need 20% down payment... sometimes that amount can be a second loan.

Bankruptcy is not for 'convenience' sake. It is SUPPOSED to be for those who can't repay their debts due to some significant situation which IS BEYOND THEIR CONTROL. It will NOT improve your credit rating. It will NOT improve your chances of getting a loan and it will NOT improve the terms of any loan you get.

Repair your credit rating. You created it yourself...fix it yourself. It can and has been This site may help you to compare many mortgage companies at once http://easymortgageadvisor.blogspot.com/

Hope this help,