Mortgages | Home Loans

What happens to a second mortgage when a home is purchased at a foreclosure auction?

Renting & Real Estate 12.03.2010 5 Comments

buad0118 asked:

I am going to bid on a house at foreclosure and it has a 1st mortgage of $280K and a second of $70K. The lender on the first two mortgages is Decision One Mortgage. The lender at foreclosure is Countrywide. Does this mean that if I buy this house at foreclosure that I will own additional money to the second mortgage or just the first mortgage and back taxes?

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Tags: 1st Mortgage, Mortgages

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If a person has two mortgages, for different properties,and one forecloses,will it affect the other mortgage?

Home Loans 20.09.2009 3 Comments

donutsncoffee

A friend of mine is in a situation where she has two mortgages on two different properties, one is her primary residence, and the other is an investment property. She is about to lose the investment property to foreclosure. She is scared that this might affect her mortgage/ownership of her primary property. Can it be legally taken away from her if she defaults on one of her mortgages?
I don’t think this could happen, but then again, I’ve never heard of anybody in this situation before.

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Tags: Foreclosure, Mortgages

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Can having many mortgages on your credit drop your score?

Home Loans 10.08.2009 5 Comments

Now go get ya shine box!!!

I have a total of 3 mortgages and I am about to buy 5 more houses. I have heard (not from an expert but he sounded like he was speaking from experience) that once you get up to a certain number of debt or number of mortgages on your credit, it can drop your score, is this true?

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Tags: Credit Score, Mortgages

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If I go into foreclosure will the mortgages remain a lein against me?

Home Loans 04.08.2009 1 Comment

simple

I have a first loan and a second. I called a lender who wants me to short sale it instead of foreclosure because he said the second will remain a lein against me even after I lose the house (it is with Washington Mutual). Is that true? I lost my job and can’t make the payments, and can’t sell it because the value got appraised at $250,000 and my mortgages add up to $400,000.
I thought they are secured by the property, not by my life.

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Tags: Lein, Mortgages

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Where can I find how many mortgages were issued this year by state?

Home Loans 24.07.2009 1 Comment

lb06029

Anyone know of a website that would have this information for free? I’m trying to find out on a per state basis, how many mortgages were issued last year.

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Tags: Mortgages, State Basis

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If you buy an inexpensive mobile home and then buy a piece of land separately, would you have two mortgages?

Home Loans 08.05.2009 4 Comments

peachy78

And is that a good idea? If we found a cheap, pretty good condition mobile home in a park and then found a nice piece of land to move it to, would that be cost effective? Would having two mortgages be bad? I know we need to get a real estate agent but in the meantime I’m just exploring options. Thx for any help.

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Tags: Mobile Home, Mortgages

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Why cant mortgage backed securities be split into their component mortgages to determine proper value?

Home Loans 28.02.2009 1 Comment

Larry K

If they could be split, good vs bad mortgages could be repackaged into good/bad MBS’s and sold with high and low prices, respectively.

I’m sure this occurred to someone already, why isn’t it being talked about?

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Tags: Mbs, Mortgages

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does a bank usually sell all its mortgages to investors or does it keep a percentage of the mortgages?

Home Loans 30.01.2009 3 Comments

hit_man1

and if so, what percent of the mortgages do banks usually keep to themselves? thanks!

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Tags: Investors, Mortgages

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mortgages ?

Home Loans 26.06.2008 4 Comments

human reject

what do i need to know about mortgages?
who is the best bank to go with for one?
how old do you have to be to get one?
whats the longest you can take pay one back?
and any thing else you think will help me.

Tags: Best Bank, Mortgages

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