Mortgage Loan Payments

If Mortgage Loan Payments Are Discharged In A Chapter 7 Bankruptcy Are They Still Allowed To Bill You?

Question by loretta | Posted in Law & Ethics

We filed bankruptcy and the trustee discharged everything. We were not in forclosure when we filed, we were told we could keep our institution and now the bank is demanding 20,000.00 in arears which is not even correct and filed a heed of default on

Answer: I am very sorry to discover that you are in your current unfortunate situation.

When you filed Chapter 7 bankruptcy, while you are allowed to keep your worth, you do have to remain current. You are given the option to either reaffirm the

I Have A 360 Months $80k Mortgage Loan With Bank Of America. I Have About 340 Months Payments Left?

Question by malnik | Posted in Renting & Real Estate

My grandma died and I inherited $20k. Can I pay $20k towards the mortgage and have BOA re-button up my mortgage payments to a 340 month pace? What is that process called? What do I explain the Loan Officer?

Answer: No, paying additional dogma does not change/lower your payments, it just helps you to pay it off sooner. What you can do is refinance for 60k & achieve the 20k to the closing table, that way your new mortgage would only be for 60k & would lower

Is A Mortgage Payment And A Car Loan Payments Considered To Be A Tax Deduction?

Question by THE GREATEST GODDESS JILL | Posted in Other - Taxes

My mom passed away and I do not if these are claimable items as tax deductions or not she was paying monthly payments on both.I am filing her taxes ,can anyone apprise me on this .thank you

Answer: Neither Mortgage Payment nor Car Loan are tax deductible unless either one is second-hand for business. What you can deduct are the following on Schedule A as Itemized decrease;

Medical Expenses exceeding .075 X her AGI
State Return

How Much Can A Bank Charge For Late Fees On A Mortgage Loan?

Question by bighousemuse | Posted in Credit

I made a mortgage loan payment after the due appointment which the bank charged me a $50.00 late fee. That is cool. I expected it. They claimed I skipped a payment because I went whilom 30 days between payments. They wanted a double payment at which

Answer: OK this is a labyrinthine situation. I think that you need to go into the bank that holds your mortgage and get someone to sit down with you and character this out. Do not leave until this is sorted out in a way that lets you catch up on all these late

mortgage Loan payment formuLa

Most people don't discern there are so many ways you can reduce your monthly mortgage payment effectively and quick. However, most of the ...

Home Mortgage Loan Modification-Flagship Project of the Obama ...

by Fahad Khan

Refinancing and institution mortgage loan modifications are formerly as festive and uncommon as changing your shirt on a very hot day; nothing unsparing, steaming, or tempting. You could desire supervision or trained aid to reawaken them with residential costs plummeting.

Mechanics of your mortgage loan modification seek script:

the loan servicing unyielding lessens payments for monthly mortgage to less than or symmetrical to 38% of borrower’s pornographic monthly receipts; authority comes in to lessen these payments reduced to 31%; the loan servicer will poverty to initially lessen the interest reprove to as reduced as 2% to come into the possession of 31%; loan terms are lengthened to a greatest of 40 years if it is not adequate to reach the 31% outset; and servicer would forebear and not lessen loan foremost without interest should it be not yet adequate.

Editorial down CEO to contrive your domestic mortgage loan modification counterpoise reduced than your refuge’s value is major. Anyone evil “underwater” – mortgage higher than the home base value – will have a motivation or prod to girl payments.

...