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Holly Blanken's Advice

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  • 45 Contributions
  • 2 Best Answers
  • 2 Helpful

Holly Blanken wrote:

I have 2 seperate loans and the house is upside down. Can I refienace 1 of the loans?

Answer
HelloSounds like you may want to wait until May, 2012 before you try to refinance.If you are paying the 2nd mortgage off in May, 2012 you can bring the cash to closing with hopes of property appreciation between now and then. I know you want to take advantage of the great rates right now, but it sems like your LTV is even beyond the special gov't programs out there.Have you tried talking to your 1st mortgage lender about the HAMP?It is a modification loan available that will lower the rate to 2-3% for 5 years. It is available to you even if you are not delinquent.Hope this helps,Holly
March 28 2011
(0)

how much is my mortgage and expected monthly payment

Answer
Hi. It sounds like you might not be comfortable with the payment amount you have in front of you. I can tell you that 4.5% is a very good rate, especially if you are using down payment assistance. If you are still uncomfortable with that payment, you may want to consider less house or an Adjustable Rate Mortgage (ARM) with a lower rate, thus lowering the payment until your income increases. The mortgage professionals I work with are telling me a 5 year fixed ARM with FHA is approx 3.75% today.Hope this helps,Holly
March 28 2011
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What's the best way to fix a credit score?

Answer
Hi RexThe Mortgage Professionals I work with have access to many tools through the credit bureaus to expedite the credit adjustment process. If you only have a couple inaccuracies, a lender may be your best bet to increasing your credit score(s) within a week or so. If you need more extensive services, a good 'pay for performance' credit repair company is the route to go. The minimum credit score to 'qualify' is probably around 580, however, you will be VERY limited in your options until you reach 600 or even 620 middle credit score. If you would like more info, feel free to contact me through my Zillow profile info. Hope this helps.Holly
March 28 2011
(0)

What can I do to get more (or better) quotes for my loan request ZR-WGHPTRV

Answer
I think that there are many lenders available issuing loans with little to no downpayment with no PMI, so I would think you should get several folks competing for your business. If you want more info, email or call me from my profile.Hope this helps
March 23 2011
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need a loan for a forclosure how do I get one

Answer
I would suggest calling your local bank, as most lenders will not fund loan amounts that small. I usually direct my clients to their local banks.Hope this helps
March 23 2011
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What is the highest score you need to get an VA loan ?

Response
Do you mean what is the lowest middle credit score needed to qualify fora VA loan? I think you will find that 620 is about as low as most lenders or banks will go. I have been involved in a transaction where the middle score was 605, but it was quite cumbersome to close.Hope this helps
March 23 2011
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Relatives tenants moved in and won't move out. How can I evict them?

Answer
get an attorney..trust me you will find out renters have way more rights than owners do
March 06 2011
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Spring is just three weeks away. What do you think the housing market will look like?

Answer
Possibly a little worse=lower prices=great time to buy:)
March 03 2011
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In your experience, what are the top reasons that caused a deal to fall apart?

Answer
I would have to say a lack of communication ....
March 03 2011
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