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Ann Said:

Beware of Countrywide Bank Lending "Impound account set up"?

We Answered:

Ultimately, you are always responsible for property taxes or assessments. So if the county has a website, it is best to find out previous taxes on that specific property, or whether they have a way to "estimate" based on value (since Proposition 13 or tax on an empty lot before new construction might make previous taxes artificially low).

And it is best to check the county site to track if your lender is properly paying your property taxes from escrow on time.

I had problems with my lender neglecting to pay taxes on my double lot the year purchased (2002), which I suddenly had to pay myself directly after receiving notice of tax sale. Then my lender misunderstood, thinking they had paid the wrong bill (when they should have paid both), and sent me too much back from escrow. The following year when it finally sank in that they had to pay both lots, they bumped up my escrow payments to catch up. But I knew that would come eventually, so I was prepared for the escrow increase.

Beverly Said:

How can I get a mortgage on a property bought at auction?

We Answered:

Get a mortgage offer before going to an auction. Make sure the lender is able to complete your application within three weeks of the sale. If you don't have the moneyin your account in time to pay for the property you could lose your deposit.

Remember you have to complete within 28 days and don't forget to factor in stamp duty if you purchase over £60,000.

Good luck.

Jeanne Said:

is it possible to get a mortgage on state benefits,?

We Answered:

Lenders do take those payments in to account, and I know of a person who along with his state benifits, get a medical pension, and he was able to buy a flat. Usually, state benefits are meant to give you minmum amout that you need to survive, so it is very unlikely that you will be able to get a mortgage based on the benifits as you will have no disposable income left after all the essential expenses.