Join the 9 million people who found a smarter way to get Expert help

Recent FHA Loan questions

My brother would like to purchase the home he now lives in.

My brother would like to purchase the home he now lives in. He feels that he would be able to pay for a down payment and manage monthly mortgage payments and taxes, but due to a debt he owes to the IRS and poor credit, he feels that he would be unable to secure a mortgage on his own. He asked for my help in 1) either co-signing a mortgage with him (which I am concerned about in case the IRS takes the home as payment and I am stuck paying the mortgage anyway with no asset) or else 2) for me to take out the mortgage in my own name and have him pay all the bills. If I take out the mortgage and he lives in the home, would I have to take out a commercial mortgage since I would be "renting" it to him?...or is there a provision with a close family member where I could take out a conventional mortgage, and have him pay the bills and live in the home? Trying to help him out without paying a really high mortgage rate and/or incurring major risk....thanks so much!!

Read more

Lucy, Esq.

Juris Doctor

32,016 satisfied customers
I have an FHA loans owned by what was Ginny Mae which I

I have an FHA loans owned by what was Ginny Mae which I recently read is bankrupt since 2009 and basically doesn't exist anymore my loan has been recently transferred from BAC home loans to a new services Carrington Mortgage and nobody can give me a straight answer about Ginny Mae do you think I have a case to question the validity of this loan?

Read more

Ray

Lawyer

Doctoral Degree

39,136 satisfied customers
Is it possible to sue a lender for punitive damages if they

Hi yes. Is it possible to sue a lender for punitive damages if they intentionally refused to get in contact with me before the loan commitment date?JA: Because laws vary from place to place, can you tell me what state this is in?Customer: MissouriJA: Has any paperwork been filed?Customer: What kind of paperwork?JA: Anything else you want the lawyer to know before I connect you?Customer: No

Read more

RealEstateAnswer

Juris Doctor

33,180 satisfied customers
I am trying to understand what options I have with regards

Hello I am trying to understand what options I have with regards ***** ***** my condo there is a long wait list for a lease permit for my communityJA: Because laws vary from place to place, can you tell me what state the property is in?Customer: Georgia zip code 30309JA: Has any paperwork been filed?Customer: No I am just trying to assess my options nowJA: Anything else you want the lawyer to know before I connect you?Customer: ahhh I have a fha loan

Read more

Ely

Counselor at Law

Juris Doctor

67,218 satisfied customers
I was attempting to purchase a house, it went into an

I was attempting to purchase a house, it went into an auction I won auction, after winning my agent discover they only took specific loans Closing date was over 2 months away, I immediately contatced a mortgage company for this specific 203k FHA loan typeJA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: I'm in south carolina. On first communication i asked if the time fram is a problem. I was told no, there was more than enough time As the process went on my loan officer stopped communicating, I called their customer service line, and was placed with another agent, but told he was 203k specialist and would still be involved closing is 11/28, my loan company has not responsded from request from closing agent.JA: Has any paperwork been filed?Customer: loan application? yes my credit was pulled weeks ago, but for some reason they never submitted it to underwritingJA: Anything else you want the lawyer to know before I connect you?Customer: Closing is 11/28 and thanksgiving is next weekend. Have they broken any laws/policies by not acting on my loan in a timely manner.

Read more

Law Educator, Esq.

Attorney At Law

Doctoral Degree

112,954 satisfied customers
I had a short sale on January 2014, at that time the period

I had a short sale on January 2014, at that time the period of time before I could purchase a home again was two years. Can they change the law later and apply it retroactivelyJA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: NevadaJA: Has any paperwork been filed?Customer: Paperwork???JA: Anything else you want the lawyer to know before I connect you?Customer: I was planning on buying a house on January 1st, that's when my period was expired, but if they change the law I won't be able to buy a house until one more year

Read more

Barrister

Attorney/Landlord/Realtor

Doctoral Degree

50,214 satisfied customers
Im in the process of purchasing a home and closing is set

HelloJA: Hello. What do you want help with?Customer: im in the process of purchasing a home and closing is set for next week. However I recently found out my job will be doing cut backs and my income is going to be reduced drastically if I'm not layed off. I explained to to my broker and realtor who contacted the sellers agent. The sellers agent said that they would not sign a termination of contract and they would keep my earnest deposit of $5k as well as go after me to pay for the sellers earnest deposit if I don't close on the loan. Is this legal?.. I live in Florida and the home is in Palm beach county.JA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: FloridaJA: Has any paperwork been filed?Customer: Paper work for what exactly?JA: Anything else you want the lawyer to know before I connect you?Customer: No

Read more

Damien Bosco

Attorney

Doctoral Degree

3,748 satisfied customers
We are closing on a home we sold to a FHA buyer. We agreed

We are closing on a home we sold to a FHA buyer. We agreed to pay $5500 toward closing costs for the FHA loan. We now found out that they are getting a conventional loan. (we did not get this news from the buyer or her real estate agent.) Are we required to pay the $5500.00 at settlement?JA: I'm the Real Estate Lawyer's Assistant. I work with them to help customers like you.Customer: can you see my question above?JA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: FloridaJA: Has any paperwork been filed?Customer: We have signed a contract for sale and FHA loan was specified. We go to closing abt. 11/15/2016JA: Anything else you want the lawyer to know before I connect you?Customer: we signed an addendum 10/03 saying we agree to pay them the 5500.00 at closing but they didn't say they switched from FHA to conventional loan.

Read more

RealEstateAnswer

Juris Doctor

33,180 satisfied customers
FOR A LOAN OFFICER. I JUST had the closing on my house.(FHA

FOR A LOAN OFFICER.I JUST had the closing on my house.(FHA loan)I would like to apply for sone credit cards,now tgat my score is great.Before the mortgage actually appears on my credit.(maybe in about one month,after first payment).Can I safely apply for credit now?I read that :"Part of some mortgage signings includes a notice that the bank can check your credit again for the next 30 days and retroactively cancel your mortgage"Is this possible?should i read my mortgage docs first?

Read more

KJL LAW

Juris Doctorate

1,768 satisfied customers
View more real estate law questions
In The News