Good Morning,   I thought this would be a good place to share my NACA journey with those looking to buy a home. Like many college graduates, student loans have become a huge barrier with the new rules by the banks. For me, even though my wife and I have a nice income, the loans forced us to go through NACA. So here is my timeline:   Sept 24- Attended Home Buyers Workshop During this time, I continued to save my Payment shock (The difference between your current rent and future mortgage payment), paid my bills, and got all of my documents together. Dec 1st- 1st Appointment. Uploaded a ..read more

(I know this might not be the exact right forum for this question; it's a muddy one.)   Most or all of the books out there for people about to enter into homeownership (or hoping to) are unsurprisingly all about how to get a mortgage.   What about a situation where someone who's never owned a home inherits one - and one that doesn't have a mortgage on it, at that.   What information does this person need to study to be prepared for his new role?  Legal obligations besides property taxes and possible HOA fees?  Anything to know about homeowner's insurance besides pay th ..read more

I am currently building a new home that will be used as a rental using a HELOC secured on my current home.  I am in the 2nd year of the 10yr draw period and the house should be done next year sometime.  My question revolves around my options once the house is done.  Will I be able to get a fixed rate mortgage?  Thank you ..read more

My mortgage incorrectly added half my payment to principal. Then my mortgage was sold the next month and old servicer still recorded payment as late. Once we got it settled on new servicers side they advised old servicer would have to remove negative. I can’t access my account now to see conversation traffic but it was never removed.  I’m selling my home now and need new purchase approval. What’s the quickest and easiest way to get this addressed?  ..read more

Hopefully a simple question here.  When someone adds an additional payment to reduce their mortgage is the verbiage: The additional money will be applied "toward" the principle" or The additional money will be "deducted from" the principle"?  That is should you use toward or deducted?   Thanks, Steve ..read more

I received my mortgage payoff statement via email on Wed., October 18. The payoff was $1076 which was good through October 25.. I sent the cashier check via certified mail to my mortgage company on October 19.  On October 20 I received another email with an updated payoff quote in the amount of $2622 due to the fact that they are including my taxes ($1546) due November 1.  Guess I'm just venting because I would have thought they would have either expected me to pay the taxes on my own since the payoff was due a week before the taxes were or would have taken the taxes into considerati ..read more

Husband and I filed BK7 and charged off in 2015. We reaffirmed our main loan but had difficulty with the second loan getting on board because they were being bought out. The new bank lost our account and stated there was no account to apply our checks to so they sent our checks back. We tried multiple times to get this worked out to no avail. BK attorney said to not worry about it, they would come out of the woodwork for money when we opt to sell our home and we could offer a smaller settlement.   Fast forward to now... we need a HELOC or cash out refi for a major repair to our home but t ..read more

I've been able to pay off my remaining mortgage for some time, but I've let it hang around as I've been doing other things with the money. I'm now thinking of biting the bullet and getting rid of it, but a couple of things have been holding me back. I don't have to have any debt, but I take advantage of opportunities for cheaper debt that I've used to make more than the debt costs me. As a result my credit scores while "good" can't really afford the 30-50 point hit of just paying the mortgage off completely right now. I could trigger lenders closing down cards that I use for rewards, higher i ..read more

My husband and I have been renovation our home so we can hopefully sell it in the near future. We wanted to pay for the renovations out of pocket with our savings but we took out a few personal loans just to give us cushion in case we didn't have enough money. We luckily had enough in the end which meant we didn't need the funds from the loans. I paid back the loans using the money we received from them instead of keeping the cash and having a payment to deal with. When we sell our house, we will be looking to purchase a new property out of state. Because I paid those loans back so quickly, wi ..read more

Only a tenth of mortgages have an interest rate above 6% — that’s a big problem for the U.S. housing market     Quote The bottom line is that homeowners across America do not have any incentive to move,’   ..read more