Zillow Advice RSS: Discussion,Mortgage,MI http://www.zillow.com/advice/MI/mortgage/discussion/ Zillow Advice search results | Zillow Real Estate Quicken Loans Refinance Complaint http://www.zillow.com/advice-thread/Quicken-Loans-Refinance-Complaint/515798/ <p class="MsoNormal">I contacted Quicken Loans via an advertisement on the internet for a Veteran's Administration Interest Rate Reduction Loan (VAIRRL) product on or around 9-4-2013. I was contacted by Kareem Josey, during our negotiation of a VAIRRL Mr. Josey at no time ever informed me that I may have to supply any money out of pocket to complete the refinance. Furthermore Mr. Josey specifically told me that the earnest money of $400 that I supplied would be returned to me and in fact I would probably get money back from my escrow when we close. Mr. Josey made it clear to me that this loan was going to be fast and easy and that there would be no problems. Quicken Loans has discriminated against me based on my sex and marital status and stole my earnest deposit of $400 by vastly changing the terms of the Good Faith Estimate that was a negotiated deal that was quoted to me via Mr. Josey then refused to fully refund my deposit when I declined their extreme change in terms on or around 9-17-2013.&nbsp;Please beware of the fraud perpetrated by Quicken Loans.</p><br \><br \>6 replies Fri, 18 Oct 2013 18:22:00 GMT http://www.zillow.com/advice-thread/Quicken-Loans-Refinance-Complaint/515798/ 2013-10-18T18:22:00Z Adding a spouse to a deed http://www.zillow.com/advice-thread/Adding-a-spouse-to-a-deed/516372/ I want to know if I add my wife to the deed as joint tenant with right s of survivorship, what happens to the equity currently accumulated as a result of the transaction? Can I pull the equity?&nbsp;<br \><br \>2 replies Wed, 23 Oct 2013 13:29:00 GMT http://www.zillow.com/advice-thread/Adding-a-spouse-to-a-deed/516372/ 2013-10-23T13:29:00Z I was wondering if there was a lender out there that could help us. http://www.zillow.com/advice-thread/I-was-wondering-if-there-was-a-lender-out-there-that-could-help-us/515124/ My parents own property that we currently live on. We want to buy a modular home and buy the property from my parents and tie it all into one loan. Also, if it's possible, we want to take every loan we have (vehicle, fifth wheel, tractor, consolidation) and put it all into one big payment a month. We don't have very good credit. My husband was laid off for 7 1/2 months and our credit took a dive. He has returned to work and I am working again but we all know how hard it is to rebuild credit. There's got to be someone out there that can help!<br \><br \>3 replies Sun, 13 Oct 2013 17:08:00 GMT http://www.zillow.com/advice-thread/I-was-wondering-if-there-was-a-lender-out-there-that-could-help-us/515124/ 2013-10-13T17:08:00Z Looking for HELOC or term loans on out of state investment properties ~25K each http://www.zillow.com/advice-thread/Looking-for-HELOC-or-term-loans-on-out-of-state-investment-properties-25K-each/509202/ Does anybody know who offers home equity lines of credit or term loans on investment properties that I own 100% in LLC names out of state? They are small dollar values ~25K each so they don't support the higher cost of traditional mortgages. I am in California and the houses are in Michigan.<br/><br/>Wells Fargo says sure if they are in your name and not LLC names<br/>First Merit says yes if you live in Michigan<br/><br/>Who else should I try?<br/><br/>Thanks,<br/>Luke<br/><br/><br/><br/>&nbsp;<br/>&nbsp;&nbsp;<br \><br \>5 replies Thu, 29 Aug 2013 20:41:00 GMT http://www.zillow.com/advice-thread/Looking-for-HELOC-or-term-loans-on-out-of-state-investment-properties-25K-each/509202/ 2013-08-29T20:41:00Z FHA one time close for Modular home in Michigan http://www.zillow.com/advice-thread/FHA-one-time-close-for-Modular-home-in-Michigan/509087/ Was wondering if anyone had any advice on where to get information on this. &nbsp;I can't seem to find much other than it exists? &nbsp;I am looking to build a relatively small modular home to put on a piece of property that I haven't found yet. &nbsp;I am a first time home buyer and have a lot of questions that no one seems to want to answer.... from the limited amount of info I've read it sounds like this is exactly the type of loan we would need to move forward ... advice anyone?<br \><br \>1 reply Thu, 29 Aug 2013 00:24:00 GMT http://www.zillow.com/advice-thread/FHA-one-time-close-for-Modular-home-in-Michigan/509087/ 2013-08-29T00:24:00Z Fannie Mae Ranks the Lenders http://www.zillow.com/advice-thread/Fannie-Mae-Ranks-the-Lenders/509034/ <p>Fannie Mae recently released its rankings of top mortgage servicers, based on metrics such as customer service, performance outcomes, and foreclosure prevention efforts.&nbsp;</p><p>"Our mortgage servicers' efforts are critical to keeping people in their homes, preventing foreclosures and stabilizing communities," says Leslie Peeler, senior vice president of Fannie Mae's National Servicing Organization.&nbsp;</p><p>Also in its rankings, Fannie Mae took into account how well servicers assisted struggling home owners, such as providing alternative solutions to foreclosure through short sales and a mortgage release.&nbsp;</p><p>The servicers that topped its list are:&nbsp;</p><ul><li>Green Tree Servicing</li><li>Nationstar Mortgage&nbsp;</li><li>Ocwen Financial Corp.</li><li>PHH Mortgage Corp.</li><li>PNC Financial Services Group Inc.&nbsp;</li><li>Seterus Inc.</li><li>Wells Fargo</li></ul><br \><br \>5 replies Wed, 28 Aug 2013 19:31:00 GMT http://www.zillow.com/advice-thread/Fannie-Mae-Ranks-the-Lenders/509034/ 2013-08-28T19:31:00Z Waiting for final underwriting approval. http://www.zillow.com/advice-thread/Waiting-for-final-underwriting-approval/506257/ I was approved by the underwriter with conditions. &nbsp;They discovered my name on a deed of another home and wanted the insurance and tax costs and the mortgage to that house to show I was not on the mortgage and not liable for that payment. &nbsp;This was 3 weeks ago. &nbsp;I returned all the information 2 weeks ago. &nbsp;I contacted my loan officer Wednesday (3 days ago) and he said the underwriter had logged into my file at 11:15 am and that it was at the final approval stage and that the process could take 24 hours. &nbsp;I've emailed and left a message on his voice mail but have not heard back from loan officer. &nbsp;This is for an fha loan. &nbsp;It has already been past 45 from the start. &nbsp;How much longer should I expect?<br \><br \>3 replies Sun, 11 Aug 2013 03:02:00 GMT http://www.zillow.com/advice-thread/Waiting-for-final-underwriting-approval/506257/ 2013-08-11T03:02:00Z Cannot get HARP 2.0 help because I have PMI http://www.zillow.com/advice-thread/Cannot-get-HARP-2-0-help-because-I-have-PMI/436781/ My current lender, Green Tree says they wont refinance my loan if it's over 95% LTV, and most others will only go to 125% LTV. I have found two lenders that would help until I mention I have PMI. My PMI is through (RMIC) which I believe are supporting HARP. My current LTV is about 145%, Never late since mortgage opened in 2007, Credit 680 - 710, 8+ years job history and low DTI. I reside in Michigan and cannot get any help. Quicken loans says they will only Refi up to 95% unless it goes through underwriting without an appraisal needed. I am currently 5 years into my 30 year conv. at 6.625% loan. Can anyone offer help?<br \><br \>19 replies Tue, 27 Mar 2012 11:39:00 GMT http://www.zillow.com/advice-thread/Cannot-get-HARP-2-0-help-because-I-have-PMI/436781/ 2012-03-27T11:39:00Z HARP 2.0 Denied due to "credit enhancement" http://www.zillow.com/advice-thread/HARP-2-0-Denied-due-to-credit-enhancement/443091/ I was so excited to finally be able to refinance my 185% underwater mortgage with HARP 2.0.&nbsp; I was shocked when it came back ineligible when the lender used DU REFI PLUS and they even called FNMA.&nbsp; No concrete explanation was given.&nbsp; I contacted another B/D and he ran numbers and I think some of his colleagues spoke with FNMA.&nbsp; No concrete explanation was given.&nbsp; I called my servicer (Seterus) and FNMA and I am finally told that my loan has "credit enhancement" and it is not eligible.&nbsp; I learned that "credit enhancement" is something the lender and FNMA agree to and has nothing to do with my A/A+ credit rating, consistent never late payments, good income etc.&nbsp; So why won't they HARP 2.0 refinance my home?&nbsp; Because they are allowed to exclude it.&nbsp; This makes no sense to me!&nbsp; <br/><br/>Has anyone ran into this and what can we do about it?<br \><br \>21 replies Thu, 17 May 2012 02:45:00 GMT http://www.zillow.com/advice-thread/HARP-2-0-Denied-due-to-credit-enhancement/443091/ 2012-05-17T02:45:00Z FHA LOAN GUIDELINES VIA BANKRUPTCY http://www.zillow.com/advice-thread/FHA-LOAN-GUIDELINES-VIA-BANKRUPTCY/491813/ My bankruptcy was discharged Dec 10 2010.&nbsp; My attorney failed to re affirm my mortgage in this bankruptcy (I did not find this out until 2 mos ago) and I have been living in the house under the assumption that I was paying toward "my mortgage".&nbsp; However; recently I have decided to buy a home elsewhere and found that not only is my mortgage NOT on my credit report, but the mortgage company has never started or discussed foreclosure procedures with me as I am always current on my mortgage.&nbsp; Basically, I am renting this house.&nbsp;My credit score is&nbsp;currently 720 and above.&nbsp;QUESTION:&nbsp; How long to I have to wait to qualify for and FHA loan? I recently found out a standard mortgage is 3 years from discharge date. Thank you.<br \><br \>2 replies Sat, 11 May 2013 15:03:00 GMT http://www.zillow.com/advice-thread/FHA-LOAN-GUIDELINES-VIA-BANKRUPTCY/491813/ 2013-05-11T15:03:00Z Refi an underwater FHA loan http://www.zillow.com/advice-thread/Refi-an-underwater-FHA-loan/485283/ We are underwater on our FHA loan and would like to refinance. I have read about FHA streamline refinance but when we contacted our lender (Midland Mortgage) we were told they do not originate loans in Michigan. Now what?<br \><br \>11 replies Fri, 29 Mar 2013 02:20:00 GMT http://www.zillow.com/advice-thread/Refi-an-underwater-FHA-loan/485283/ 2013-03-29T02:20:00Z Ask our community... http://www.zillow.com/advice-thread/Ask-our-community/479122/ I am looking for a Direct Lender who follows FNMA Guidelines. I am looking for 80% LTV purchase money financing. 2 year waiting period over in May 2013, have good with credit scores in the 700s, have job stability, low debt. We are looking for an EXPERIENCED and knowledgeable Loan Officer who will be up front with us. Found a lender in CA that funds this loans regularly but is not licensed in MI. Any info or advise is greatly appreciated. <br/><br/>Thanks,<br/>Jennifer<br \><br \>1 reply Mon, 18 Feb 2013 16:42:00 GMT http://www.zillow.com/advice-thread/Ask-our-community/479122/ 2013-02-18T16:42:00Z Details on mortgage and information http://www.zillow.com/advice-thread/Details-on-mortgage-and-information/473762/ How do I remove information for my home so that it is kept private?<br \><br \>1 reply Wed, 09 Jan 2013 19:37:00 GMT http://www.zillow.com/advice-thread/Details-on-mortgage-and-information/473762/ 2013-01-09T19:37:00Z FHA Streamline Investment property in Michigan http://www.zillow.com/advice-thread/FHA-Streamline-Investment-property-in-Michigan/450491/ I, like many others, am having difficulty in doing an FHA Refinance on my home turned investment property in Michigan.<br/><br/>Does anyone know any lenders that are actually willing to do it?<br/><br/>Thanks!<br \><br \>2 replies Tue, 10 Jul 2012 22:31:00 GMT http://www.zillow.com/advice-thread/FHA-Streamline-Investment-property-in-Michigan/450491/ 2012-07-10T22:31:00Z Lender who will do Harp 2.0 with LTV at 132% http://www.zillow.com/advice-thread/Lender-who-will-do-Harp-2-0-with-LTV-at-132/439377/ &nbsp;I have hit many road blocks and cannot get approved. I don't have any real assets and though my credit rating isn't bad (650) I have high debt, but all my bills, including mortgage are and have been paid on time since BK in 2003. <br/>Fannie Mae owned, 132% LTV, Currently 6.625% 30 Year Conv. Owe $149K and Property Est. is $113K. Have PMI through RMIC. My current lender Green Tree will only go up to 125% LTV. Can anyone help me even though I have no assets and high debt???<br \><br \>11 replies Tue, 17 Apr 2012 19:37:00 GMT http://www.zillow.com/advice-thread/Lender-who-will-do-Harp-2-0-with-LTV-at-132/439377/ 2012-04-17T19:37:00Z Land contract that has two properties on the same contract. http://www.zillow.com/advice-thread/Land-contract-that-has-two-properties-on-the-same-contract/460144/ I purchase two properties on one land contract( two different address). One property has the house and the other is the empty lot next to me. Is there anyway I can obtain a mortgage on the lot next to me and the house? I been here for about 2 years now.<br \><br \>3 replies Sun, 16 Sep 2012 18:52:00 GMT http://www.zillow.com/advice-thread/Land-contract-that-has-two-properties-on-the-same-contract/460144/ 2012-09-16T18:52:00Z HARP 2.0 help in MI. Freddie caution problem. http://www.zillow.com/advice-thread/HARP-2-0-help-in-MI-Freddie-caution-problem/454557/ Hi I have tried two credit unions and a mortgage broker and none of them see sense in the cautions I am receiving from Freddie Mac. 691 FICO. 24% debt to income. ratio. 105 to 110 LTV. PMI from MGI. Small HELOC. Anyone willing to help me that can reach out to Freddie to get some clarity? Cautions are an account opened to recently, too many inquiries, and ratio of available credit to used which doesn't seem correct. Current servicer is M&amp;T Bank. I tried them too. They talk like used car salesmen and have no incentive to offer a rate below 4.5%. Then they rush you off the phone.<br \><br \>9 replies Wed, 08 Aug 2012 03:03:00 GMT http://www.zillow.com/advice-thread/HARP-2-0-help-in-MI-Freddie-caution-problem/454557/ 2012-08-08T03:03:00Z Looking for an experienced 203K lender http://www.zillow.com/advice-thread/Looking-for-an-experienced-203K-lender/456203/ I am having a difficult time finding somebody that specializes in 203K loans in Oakland County. I want to find somebody that has a lot of experience so when it comes down to dealing with contractor(s), I don't have to deal with any of the nightmares I have been reading on several forums. Is there anybody out there that can help?<br \><br \>4 replies Sat, 18 Aug 2012 14:10:00 GMT http://www.zillow.com/advice-thread/Looking-for-an-experienced-203K-lender/456203/ 2012-08-18T14:10:00Z HARP Refi or just start paying more? http://www.zillow.com/advice-thread/HARP-Refi-or-just-start-paying-more/453695/ Good Evening-<br/>I am pretty sure the HARP Refi is worth it. Right now only my husband is on the mortgage, for the refi we would both have to be on it. Some of my friends think it is a bad idea because I could walk away if only he was on the loan. That really isn't our style. Plus, we have done a lot to this house structurally, it is 100 years old, small, not in the best neighborhood, but it is recovering. We were thinking of staying and starting to do more cosmetic stuff ourselves, like kitchen and bathroom.<br/><br/>House purchased for 74K. We owe 80K, appraisal at refi ten years ago was 100K, we financed 93K, due to putting a ton into the house after purchase. 30 yr @ 6.875. Expected current appraisal to be 40-50K, 60 if we are lucky. We weren't smart, trying to make up for it now. We couldn't rent a place this nice for our payment, including taxes and insurance.<br/><br/>Our conditional approval through our current lender was a 15 yr at 3.5, with about 2K in fees. Payment is pretty much exactly the same, we will finish the loan five years earlier.<br/><br/>Our DTI is not great, less than 50, but not much, maybe 40. Seriously working on paying down debt. We could accelerate mortgage payments, but not till CC is paid off.<br/><br/>I think the refi is the best option. I am not sure I can shop around due to the DTI.<br/><br/>Question about my PMI. This month my PMI went from .5% to .02% of loan each year. So my PMI dropped to $10 this month. Will I have to go back to $50 a month, or will my PMI kill the refi anyway. The GFE states $50 a month.<br/><br/>We got the conditional approval, how likely is this thing to go through?<br \><br \>1 reply Thu, 02 Aug 2012 01:46:00 GMT http://www.zillow.com/advice-thread/HARP-Refi-or-just-start-paying-more/453695/ 2012-08-02T01:46:00Z FHA203k- How much do we need? http://www.zillow.com/advice-thread/FHA203k-How-much-do-we-need/447614/ We are approved for a 100k FHA loan. We found a house we really like that is asking 89,900, and it needs a kitchen (there are no cabinets or appliances, just pretty floors in an empty room) and roof work. &nbsp;The rest of the house is move-in ready. &nbsp;The house is an REO and last sold for $125,500 5 years ago. &nbsp;I guess my question is, can we actually get this house with what they are asking for and the work that needs to be put into it? &nbsp;How much would the total 203k loan be for? &nbsp;Thanks!<br \><br \>1 reply Wed, 20 Jun 2012 19:15:00 GMT http://www.zillow.com/advice-thread/FHA203k-How-much-do-we-need/447614/ 2012-06-20T19:15:00Z