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Adrian Said:

Second Level Review FHA Real Estate Help Needed?

We Answered:

Take the appraisal you have and go to a broker. The great thing about us brokers is we have multiple options. When you deal with a bank like CW/BofA it's like going to McDonald's, you get what they have on their menu at their price.

Louise Said:

Reverse mortgage HELP PLEASE?

We Answered:

Good day,

I am Richard a private loan lender, i give certified loans to serious minded individuals and company at an interest rate of 5% with total loan repayment allowed weekly monthly or yearly depending on how you can make repayments if interested email me at rj.microfinance@mail.mn .We only offer out in: Dollars,Pounds,Euro and Naira only.Apply with the following details:Name,Address,Cell number,Occupation,Monthly income,Loan amount needed&Duration.


Email: rj.microfinance@mail.mn

Michael Said:

My grandfather's "caregiver" (and power of attorney) has gotten a reverse mortage on his property.

We Answered:

It is most likely that the timing of the reverse mortage was most propitious for your grandfather. He is in line to receive a stream of payments for his entire life based upon the higher than current property value.

There is no reason to suspect fraud in this transaction. The "caregiver" receives no direct compensation nor indirect financial incentive. I further suspect that your 'caregiver' may in fact be your grandfather's 'legal guardian' or "conservator" if responsible for the reverse mortgage. I presume from the tone of your letter that you have no direct communication with your grandfather or his attorney. Sounds like your concerns may be in your grandfather's estate value at his prospective time of death. It does not appear you can expect his residence to add to the value of his estate.

On the otherhand, your grandfather presently appears to have a steady income stream to assist in his monthly expenses thanks to the "reverse mortage".

If your grandfather is being victimized, abused, shortchanged or being financially bled to death you should contact your local district attorney and open an investigation for elder abuse, undue influence or embezzlement by the "caregiver". You could retain an attorney and file for establishing yourself as your grandfather's legal custodian. If you have good cause, your costs will be reimbursed by the Court.

If you do not have your grandfather's ear and confidence, back off before you find yourself completely written off for his remaining life and potential inheritance.

June Said:

How do you process a FHA refinance loan?

We Answered:

FHA are the hardest loans to do. You might want to double check my info because guidelines are changing every day on all loan types. But I think Sellers are allowed to give buyer up to 15% closing cost. Loan fee is not to go above $1,000. Buyer must be at least 21 years and have han no other homes. You can do NOO if the buyer is over 35 years of age. I also heard forms are only to be signed with black ink but I don't think that is right. Loan limits are still by counties but were raised quite a bit. Remember they can have only two tradelines and have lower Fico scores than non government backed loans with nontraditional credit (phone bills, cable..) Also buyers can be just friends and still go on the loan together. Make sure with pricing you double the SRP. Hope that this helps. Just remember to double check on my info incase I am wrong. I probably am not correct on a few points.

Emma Said:

Will my FHA mortgage be turned down for overdrawn checking account?

We Answered:

Usually they will take an explanation. If there are no other overdrafts, and if you keep good balances, then you should be ok.