Zillow Advice RSS: Question-Discussion-Guide,Mortgage, http://www.zillow.com/advice/United-States%253B%253B%253B%253B%253B%253B%253B%253B/mortgage/question-discussion-guide/mortgage/?s=0 Zillow Advice search results | Zillow Real Estate Coop apartment auction. What happens to tennant? http://www.zillow.com/advice-thread/Coop-apartment-auction-What-happens-to-tennant/442414/ <div>I am renting an apartment in a co-op building. I have been paying my rent regularly to the owner of the co-op apartment.<div>I just got the notice that the owner of the apartment is behind in his mortgage payments and the apartment is going for auction in few days.<div>My question is what happens to me as a tennant of the apartment? I have a lease signed. what happens to the lease if the apartment is auctioned? I have also one month of security deposit and last month of rent paid to the owner. so basically two months of rent to him. What happens to my money if the apartment if sold?<div>Will i have to move out of the apartment? How much time will i get? Does the tennant lay apply here where i get to complete my lease or get atleast 90 days?<br/><div>Please let me know.<br/><div>Thank You</div></div></div></div></div></div><br \><br \>1 reply Fri, 11 May 2012 15:04:00 GMT http://www.zillow.com/advice-thread/Coop-apartment-auction-What-happens-to-tennant/442414/ 2012-05-11T15:04:00Z Can I quailfy for a loan with credit card debt? http://www.zillow.com/advice-thread/Can-I-quailfy-for-a-loan-with-credit-card-debt/393259/ are you looking for a mortgage? as a mortgage lender, we factor in all of your revolving debt, so the mere fact you have some does not preclude you from qualifying for a mortgage.&nbsp; It would depend more on how much those payments are, how those balances, payment histories and available credit impact your FICO and what income you have to offset those debts.&nbsp; I'd suggest speaking with a mortgage lender to go through your application with you, if nothing else to get you on a path to buy.<br \><br \>0 replies Fri, 01 Apr 2011 17:15:00 GMT http://www.zillow.com/advice-thread/Can-I-quailfy-for-a-loan-with-credit-card-debt/393259/ 2011-04-01T17:15:00Z Is there a way to find out if landlord is current on mortgage? http://www.zillow.com/advice-thread/Is-there-a-way-to-find-out-if-landlord-is-current-on-mortgage/589893/ 3 replies Fri, 05 Jun 2015 01:43:00 GMT http://www.zillow.com/advice-thread/Is-there-a-way-to-find-out-if-landlord-is-current-on-mortgage/589893/ 2015-06-05T01:43:00Z I am upside down on my home and want to refinance. http://www.zillow.com/advice-thread/I-am-upside-down-on-my-home-and-want-to-refinance/393265/ <p>Two mortgage loans with high rates.&nbsp; The loans are not through Fannie or Freddie.&nbsp; The estimated value is $160K-$175, but owe $190K.&nbsp; Is there any way to refinance?</p><br \><br \>5 replies Fri, 01 Apr 2011 13:23:00 GMT http://www.zillow.com/advice-thread/I-am-upside-down-on-my-home-and-want-to-refinance/393265/ 2011-04-01T13:23:00Z If approved, mortgage will be more than 50% of income, but no other debt, will I be approved? http://www.zillow.com/advice-thread/If-approved-mortgage-will-be-more-than-50-of-income-but-no-other-debt-will-I-be-approved/245800/ 7 replies Sun, 14 Jun 2009 15:14:00 GMT http://www.zillow.com/advice-thread/If-approved-mortgage-will-be-more-than-50-of-income-but-no-other-debt-will-I-be-approved/245800/ 2009-06-14T15:14:00Z what is the investment property mortgage rates in Houston ,tx http://www.zillow.com/advice-thread/what-is-the-investment-property-mortgage-rates-in-Houston-tx/196646/ 0 replies Sat, 07 Feb 2009 00:24:00 GMT http://www.zillow.com/advice-thread/what-is-the-investment-property-mortgage-rates-in-Houston-tx/196646/ 2009-02-07T00:24:00Z Can an untaxed bonus be used for mortgage down payment without additional paperwork? http://www.zillow.com/advice-thread/Can-an-untaxed-bonus-be-used-for-mortgage-down-payment-without-additional-paperwork/491592/ I own my own company (50/50 LLC ownership). I have money in my personal savings account that is "seasoned" and has been sitting in there untouched for many months. This is my downpayment fund for my first home. However, it looks like we have to increase our buying price if we ever want to buy a house in this area.<br/><br/>My business partner and I agreed that the company is in a good spot to take out a big chunk of money each as a bonus. I want to use as much of this money as possible to increase my buying/offering ability. If I pay myself the big bonus check through ADP (who we use regularly for our payroll) but ONLY withhold Medicare and Social Security (and don't get Fed and CA tax taken out) will this prompt the underwriters to ask for more information which means more time and more paper work? I realize later on, I will have to pay the back taxes on it if I don't withhold, but the immediate need is to have as much verified funds as possible to quickly make an offer (the market is crazy right now!) and close quickly. I meet with my mortgage banker next Tuesday to try and get a pre-approval. The open house for a property I'm in love with is this weekend and offers will likely be due end of next week.<br/><br/>So, I'm in a time crunch to run the bonus check through ADP ASAP so that when I meet with the banker on Tuesday, he can run my credit report, look at my bank accounts, and the paystub from the bonus, and write me up a pre-approval number without any additional hassle.<br/><br/>So to sum up, should I go through with paying myself the check without withholding Fed/State tax in order to increase my offering ability? Or will this potentially cause more of a hold up and counter act my plan?<br \><br \>8 replies Fri, 10 May 2013 01:33:00 GMT http://www.zillow.com/advice-thread/Can-an-untaxed-bonus-be-used-for-mortgage-down-payment-without-additional-paperwork/491592/ 2013-05-10T01:33:00Z Getting Conventional Financing on a Brickell Condo http://www.zillow.com/advice-thread/Getting-Conventional-Financing-on-a-Brickell-Condo/491599/ Contact me and We'll try to help you as much as we can. we can help you getting a mortgage approval. There are a lot of plans that could work for you.<br \><br \>0 replies Mon, 20 May 2013 19:32:00 GMT http://www.zillow.com/advice-thread/Getting-Conventional-Financing-on-a-Brickell-Condo/491599/ 2013-05-20T19:32:00Z What should be the maximum loan to values ratio that I can get approved. i have a score of 750+ http://www.zillow.com/advice-thread/What-should-be-the-maximum-loan-to-values-ratio-that-I-can-get-approved-i-have-a-score-of-750/294971/ I am interested in <a href="http://www.zillow.com/refinance/">refinancing</a> to combine my two mortgages.<br/>First @ 5.75% with balance 327,000<br/>Second @ 8% with balance $58,000<br/><br/>My house may appraise for $410K<br \><br \>0 replies Mon, 09 Nov 2009 20:20:00 GMT http://www.zillow.com/advice-thread/What-should-be-the-maximum-loan-to-values-ratio-that-I-can-get-approved-i-have-a-score-of-750/294971/ 2009-11-09T20:20:00Z How can I get a quick and painless refinance without all the hassle and apprasial? http://www.zillow.com/advice-thread/How-can-I-get-a-quick-and-painless-refinance-without-all-the-hassle-and-apprasial/491600/ I am not a mortgage pro, so please verify this information with a lender. But, I like to play with numbers...<br/><br/>Note: Principal and interest (P/I) on 126K @ 5.85% over 360 months works out to $743/month, so I am assuming that the $920 includes escrows.<br/><br/>Using your original numbers (30yr, 5.85%, 89K balance after 10'ish years), and averaging $350 extra principal per month, your loan will be paid off in about 11 years. During that time, you will pay about $145K towards P/I.<br/><br/>If you refi the $89K over 30yrs @ 3.5%, the potential diff in P/I is $343/month. With the $350/month for the prior calc, that's $693/month that you can play with.<br/><br/>Talk to a mortgage lender who is willing to sit down and run some numbers for you. I have a feeling you can do very well...and still have extra monthly cashflow that you can either apply to the mortgage, save, or whatever.<br \><br \>0 replies Fri, 10 May 2013 04:20:00 GMT http://www.zillow.com/advice-thread/How-can-I-get-a-quick-and-painless-refinance-without-all-the-hassle-and-apprasial/491600/ 2013-05-10T04:20:00Z options for refinance http://www.zillow.com/advice-thread/options-for-refinance/393294/ unfortunately, the only option you have would be with a loan modification at this point.&nbsp; You'll have to provide a financial worksheet, hardship letter, tax returns, bank statements, paystubs, etc to your current lender and work from there.&nbsp; Be very careful of companies taking up front money to negotiate on your behalf, as a mortgage banker we dont participate in the process, so I couldnt give you first hand experience... just the horror tales I've heard of people getting ripped off.&nbsp; Sometimes your lender will host events for borrowers to come in and be seen that day.&nbsp; I know Wells fargo has made big strides in trying to do that type of thing.&nbsp; Your best bet is to try and contact your lender now, before you fall behind and cant catch up.&nbsp; Good luck!<br \><br \>0 replies Fri, 01 Apr 2011 16:59:00 GMT http://www.zillow.com/advice-thread/options-for-refinance/393294/ 2011-04-01T16:59:00Z Private Money Mortgages Help Borrowers with Bad Credit http://www.zillow.com/advice-thread/Private-Money-Mortgages-Help-Borrowers-with-Bad-Credit/540766/ [spam deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]<br \><br \>0 replies Wed, 14 May 2014 19:34:00 GMT http://www.zillow.com/advice-thread/Private-Money-Mortgages-Help-Borrowers-with-Bad-Credit/540766/ 2014-05-14T19:34:00Z when filling out loan request do I include credit card payments which will be paid off with the http://www.zillow.com/advice-thread/when-filling-out-loan-request-do-I-include-credit-card-payments-which-will-be-paid-off-with-the/344138/ new mortgage<br \><br \>1 reply Wed, 14 Apr 2010 19:56:00 GMT http://www.zillow.com/advice-thread/when-filling-out-loan-request-do-I-include-credit-card-payments-which-will-be-paid-off-with-the/344138/ 2010-04-14T19:56:00Z Which lender extend mortgage loans to non US residents? http://www.zillow.com/advice-thread/Which-lender-extend-mortgage-loans-to-non-US-residents/245826/ 1 reply Sun, 14 Jun 2009 16:44:00 GMT http://www.zillow.com/advice-thread/Which-lender-extend-mortgage-loans-to-non-US-residents/245826/ 2009-06-14T16:44:00Z If I req. GFE from mult.lenders does this trigger a credit report from each and won't it hurt FICO http://www.zillow.com/advice-thread/If-I-req-GFE-from-mult-lenders-does-this-trigger-a-credit-report-from-each-and-won%27t-it-hurt-FICO/245830/ I'm really afraid to start requesting GFEs because this is what I have been told by my sister-in-law who previously worked as a <a href="http://www.zillow.com/mortgage/">mortgage</a> broker.She said I could fax the <a href="http://www.zillow.com/directory/lenders/">lenders</a> a copy of the <a href="http://www.zillow.com/mortgage-glossary/Credit-Report/">credit report</a> that I have obtained(she got it for me) and as long as it is recent they should be able to use it.<br \><br \>6 replies Sun, 14 Jun 2009 17:10:00 GMT http://www.zillow.com/advice-thread/If-I-req-GFE-from-mult-lenders-does-this-trigger-a-credit-report-from-each-and-won%27t-it-hurt-FICO/245830/ 2009-06-14T17:10:00Z What can I do to get more (or better) quotes for my loan request ZR-VRWCCMQ http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-VRWCCMQ/442464/ Hi mohamed,<br/><br/>Thank you for using Zillow Mortgage Marketplace to shop for a mortgage loan.&nbsp; The reason why you didn't get the result you expected is because the loan amount is too small.&nbsp; I recommend looking for a lender in our <a href="http://www.zillow.com/directory/mortgage-lenders/">professional directory</a>.&nbsp; You can also reach out to your local bank or credit union.<br/><br/>Thank you for your post.<br/>Candace<br/>Zillow Customer Support<br \><br \>0 replies Mon, 14 May 2012 17:40:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-VRWCCMQ/442464/ 2012-05-14T17:40:00Z Strategic rental default? http://www.zillow.com/advice-thread/Strategic-rental-default/540781/ My wife an I are currently upside down on our mortgage. It is not backed by Fannie or Freddie and cannot be modified. We already tried. We live in a small two bed condo and want to buy a larger home and start a family. Our idea is to rent our condo and get approved for another mortgage and buy a home. But once we are there to default on the original condo loan as the rent wouldn't even cover the monthly mortgage payment. On top to that the association fees. Any feedback would be greatly appr<br \><br \>4 replies Wed, 14 May 2014 21:19:00 GMT http://www.zillow.com/advice-thread/Strategic-rental-default/540781/ 2014-05-14T21:19:00Z HARP2.0 vs. home equity loan option? http://www.zillow.com/advice-thread/HARP2-0-vs-home-equity-loan-option/442468/ There is the mathematical answer-You should refinance your primary and payoff the investment property.&nbsp; You will pay a lower monthly payment by doing this.<br/><br/>There is the answer that helps you sleep better at night-If it bothers you, and it sounds like it will, to have a mortgage on your primary then you shouldn't do that.<br/><br/>God forbid something bad happens and your income is affected to the point that you couldn't make your mortgage payment.&nbsp; You would much rather have to stop payments on your investment property than your primary residence.&nbsp; <br/><br/>If I were you I would use the HARP 2.0 program on your investment and keep your primary free and clear.&nbsp; The rate difference between the HARP 2.0 and what you would get on the traditional refi is not astronomical at all.<br/><br/>Best wishes,<br/><br/>John<br \><br \>0 replies Sat, 12 May 2012 07:36:00 GMT http://www.zillow.com/advice-thread/HARP2-0-vs-home-equity-loan-option/442468/ 2012-05-12T07:36:00Z if the loan modication only decreased the monthly payment by $50 what recourse do I have? http://www.zillow.com/advice-thread/if-the-loan-modication-only-decreased-the-monthly-payment-by-50-what-recourse-do-I-have/393312/ The bank agreed to take less because there is more of a benefit to modify the terms from cash flow perspective -&nbsp;versus foreclosure.&nbsp; The banks have already pillaged this country, have two branches of government in their pocket and will now begin beating up on the state judges who have ruled MERS illegal.&nbsp; You should investigate to see if the loan is (alleged) owned by a securitization trust.&nbsp; All the banks lied to these certificate holders and told them three years ago the certificates were backed by security instruments - the only problem is they never assigned the notes / mortgages to the trust and now they claim they can't find the collateral docs.&nbsp; When I die I want to come back as a Federal Reserve Member bank!<br \><br \>0 replies Sat, 02 Apr 2011 19:18:00 GMT http://www.zillow.com/advice-thread/if-the-loan-modication-only-decreased-the-monthly-payment-by-50-what-recourse-do-I-have/393312/ 2011-04-02T19:18:00Z Is 5 years still a realistic benchmark? http://www.zillow.com/advice-thread/Is-5-years-still-a-realistic-benchmark/344155/ SoCal,<br/><br/>Thanks for best answer and the thumbs up.<br/><br/>Regarding FHA. They are in serious financial trouble now. Just like the GSEs Fannie Mae &amp;&nbsp; Freddie Mac. There's talk of all three and HUD being combined into one Agency. <br/><br/>FHA has just increased their upfront mortgage fess by 1/2 point. Also&nbsp; their minimum FICO requirements may go to 640.&nbsp;There's the possibility that 5% will be the minimum down payment requirement.&nbsp; Not that another&nbsp;1.5% is noteworthy. <br/><br/>HUD is&nbsp;also paying much more attention to the loans that were funded. Brokers,&nbsp; lenders and banks are paying fines, buying back loans,&nbsp;not allowed to sell FHA anymore and some are going to jail and their businesses shut down.<br/><br/>Now, is the time that accountability is going to prevail in this industry on every level. That's a good thing! ..... Happy funding, Rudi<br \><br \>0 replies Thu, 15 Apr 2010 16:08:00 GMT http://www.zillow.com/advice-thread/Is-5-years-still-a-realistic-benchmark/344155/ 2010-04-15T16:08:00Z