Zillow Advice RSS: Question-Discussion-Guide,Loan Modifications,MO http://www.zillow.com/advice/MO/mortgage-loan-modifications/question-discussion-guide/mortgage/?s=0 Zillow Advice search results | Zillow Real Estate Would a mortgage forensic audit help? http://www.zillow.com/advice-thread/Would-a-mortgage-forensic-audit-help/344664/ All the paperwork on my mortgage has the wrong address. When I brought this to the attention of the title company a few days after closing on the house I was told they didn't care. I have also recently mentioned this to the mortgage company when speaking to them about restructuring my loan due to a loss of income. I also have a PMI payment inexcess of $300; when applying for this loan I was not told about this additional fee and did not learn about it until I was signing the paperwork at closing. I am in an interest only loan at 7%. The loan was misrepresented to me prior to signing. To be honest, I was surprised I was approved for the loan because I never was able to afford the payments on a conventional loan but the mortgage rep convinced me this was a great loan and I would be able to afford it by making interest only payments. I know it's my fault for not hiring an attorney but I was moving into a new state (Missouri) and didn't know anyone there. My real estate agent knew I was unsure about buying the house but he said he had a mortgage guy that could put me in the house. I have not been able to refinance due to a loss of income (business went belly up) and it has effected my credit scores.<br \><br \>14 replies Fri, 16 Apr 2010 15:43:00 GMT http://www.zillow.com/advice-thread/Would-a-mortgage-forensic-audit-help/344664/ 2010-04-16T15:43:00Z Mortgage Loan Houston - Magical Finance At Doorstep http://www.zillow.com/advice-thread/Mortgage-Loan-Houston-Magical-Finance-At-Doorstep/434659/ <em>[promotion deleted by Zillow moderator.&nbsp; Please see our <a href="http://www.zillow.com/howto/GoodNeighborPolicy.htm">Good Neighbor Policy]</a></em><br \><br \>2 replies Sat, 10 Mar 2012 11:44:00 GMT http://www.zillow.com/advice-thread/Mortgage-Loan-Houston-Magical-Finance-At-Doorstep/434659/ 2012-03-10T11:44:00Z How to convert an FHA Loan into an Investment Property http://www.zillow.com/advice-thread/How-to-convert-an-FHA-Loan-into-an-Investment-Property/523705/ How does the assumption process work? &nbsp;Does the family member have to apply for the loan and if qualified does that person assume the loan at the remaining balance? &nbsp;Does the assumption process have to be done by BOA or can it be done by another mortgage servicer? &nbsp;<br/><br/>The FHA loan is currently 5% and was streamlined in 2009. &nbsp;Could it be streamlined again?&nbsp;<br \><br \>0 replies Wed, 08 Jan 2014 15:04:00 GMT http://www.zillow.com/advice-thread/How-to-convert-an-FHA-Loan-into-an-Investment-Property/523705/ 2014-01-08T15:04:00Z Loan Modification http://www.zillow.com/advice-thread/Loan-Modification/268169/ A <a href="http://www.zillow.com/loan-modification/">loan modification</a> is an option when you do not qualify for any&nbsp;mortgage refinance options. You do not need to be late on your <a href="http://www.zillow.com/mortgage/">mortgage</a> payment but there must be some type of hardship. For example, if your home value has dropped to the point where your mortgage nearly exceeds your homes's value or your job situation has changed and you are earning less money and can't afford your current mortgage payment. You must contact your current lender/loan servicer and ask them to assist you with a loan modification. After reviewing your situation, your lender can offer you a variety of options including, but not limited to, a lower <a href="http://www.zillow.com/Mortgage_Rates/">interest rate</a> for a few years, interest only payments, a few months payment abatement, etc. Some people contact a mortgage modification company and pay them a fee to call their lender and work out modification options. Your lender will not offer any better terms if you work through a modification company. Same your money and call your lender yourself and see what options may be available.<br \><br \>0 replies Fri, 14 Aug 2009 20:36:00 GMT http://www.zillow.com/advice-thread/Loan-Modification/268169/ 2009-08-14T20:36:00Z