I need the name of a reputable mtg co. to refinance current Countrywide neg-armt vary loan??
I help my 81yr old mother with her Triplex she owns and am very new to borrowing $ for mortgage since I have never owned a home myself and am 50. 2yrs ago I refinanced her bank loan she had since the begining with Countrywide and desperately need to change this loan NOW. We now owe CWide an additional $5000 from the original $ borrowed AND monthly pmts have gone up AND we still can only make the bare minumum pmts each month especially now!!!! Countrywide has backed us into a corner and wont call me back at all to help us!!!!!!! We also have a few credit card debts and would love 2 pay off to eliminate them due to high interest rates (29.9% on Chase!!!!)
I just don’t know who to turn to, trust, or rely on for this mess…Chase is getting ready to put a lien on Triplex for non payment (90 days past now)
MOM DESERVES THE RIGHT NOT TO DIE BANKRUPT!!!!!
It is HER turn to live the rest of her life worry-free!! After all she’s done everything right ALL her life-I Love Mom!HELP!!
First of all, Chase can’t put a lien on the triplex. At least not like that. They would have to go to court and get a judgment first before they could legally do anything.
I am wondering what the reasoning was behind refinancing that tri-plex in the first place. If you already had a loan on it in good standing, what was the reason? And Country Wide is usually sub-prime mortgages so why didn’t you refinance with the original lender?
Can she qualify for a loan back with the original lender? Or some other lender?
If monthly payments have gone up, it’s because YOU got an adjustable rate 2 years ago thinking interest rates were never going to go up. Adjustable rate means just that. If the rates go up, so does your payment.
What is the $5000 Cwide has added? You didn’t explain what that was. They can’t just add $5000 on, unless you’ve been making late payments and you’ve gotten a bunch of fees added on.
Stop using the credit cards. If you’ve got a credit card with a 29% interest rate, why on earth would you charge something on it and then not pay the whole bill off when it comes. If you pay the entire bill every month, there is ZERO interest. If you charge a bunch of stuff up on it, then you get to pay interest.
Call Chase. Tell them you are in financial difficulty and work out a payment plan with them. Letting it go 90 days in arrears isn’t going to work.
You’re Mom DOES deserve to die not bankrupt and I’m wondering why her daughter (you) decided to go refinance her house and get her into this mess.
By the way, an additional point of information, when Mom dies, all of her assets, including the tri-plex will be sold and all of her debt will be paid, including the Chase card, BEFORE anything gets paid to heirs so you may need to get some financial counseling and figure this out. You may want to consider selling the tri-plex now and just renting the unit you’re living in from the new owner.
|
|
Keys to Mortgage Financing & Refinancing $9.5 Updated to account for current low interest rates and historically high real estate prices, this book advises on the details of getting a mortgage for a home purchase, dealing with banks and other … |
|
|
Mortgage Payments $10.44 Updated to reflect current rates, these quick reference tables show the size of monthly payments necessary to amortize loans on amounts up to $600,000 over periods ranging from one to 40 years … |
|
|
Countrywide $3.99 By Tommy Emmanuel. For guitar. Jazz; Pop. Guitar TAB. 10 pages. Published by Hal Leonard – Digital Sheet Music |
|
|
The Foreclosure Of America: Life Inside Countrywide Home Loans And The Selling Of The American Dream $9.99 Now in paperback-an inside look at Countrywide Home Loans and the mortgage crisis from a former mortgage lender executive. In July 2004 Adam Michaelson attended a high-level meeting at Countrywide Financial headquarters about a new loan product that would allow borrowers to pay less than their minimum monthly payment. The "finance jocks" believed that the booming housing market would only get bigger supporting homeowners in a cycle of borrowing against their houses and refinancing later. They were wrong. And when the bottom dropped out Countrywide suffered the consequences-as did millions of Americans. With an insider’s knowledge and thorough reporting on the impact on American families and the ripple effects on the economy Michaelson examines the marketing of a mirage and the bad business decisions that destroyed a company confronts the ethical questions that have arisen in the wake of the foreclosure crisis and offers creative proposals to prevent such a meltdown from ever happening again.Now in paperback-an inside look at Countrywide Home Loans and the mortgage crisis from a former mortgage lender executive. In July 2004 Adam Michaelson attended a high-level meeting at Countrywide Financial headquarters about a new loan product that would allow borrowers to pay less than their minimum monthly payment. The "finance jocks" believed that the booming housing market would only get bigger supporting homeowners in a cycle of borrowing against their houses and refinancing later. They were wrong. And when the bottom dropped out Countrywide suffered the consequences-as did millions of Americans. With an insider’s knowledge and thorough reporting on the impact on American families and the ripple effects on the economy Michaelson examines the marketing of a mirage and the bad business decisions that destroyed a company confronts the ethical questions that have arisen in the wake of the foreclosure crisis and offers creative proposals to prevent such a meltdown from ever happening again. |
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.