Upside Down Mortgage

Archive for August, 2008

Mortgage Fraud Bankruptcy

Question: 4 mortgages on my credit report that were part of a morgage fraud scam. Can I get these removed from credit?

This has caused me to file bankruptcy which has been discharged. Can I dispute these and have removed from the credit report? The title company is out of business, the appraiser over-appraised the homes and the individuals are under investigation. How should I proceed?

Answer: If you voluntarily participated as a strawman in the scheme, you can't get them removed...it will be 7-10 years before the items begin to roll off of your credit history.

I'm surprised you weren't charged with fraud as well.

USA - Stimulus Package - Recovery Plan

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Average Subprime Mortgage Rate

Question: Is a 6.5 rate high for a subprime mortgage 30 year fixed?

Thinking of buying a house and I was told my rate would be 6.5 for a 30 year fixed FHA mortgage. Just wanted to know if that is high and what the average rate is.

Answer: That is s a great rate...and is just about the best u can get.
Any better will require more $$$ down.

My own mortgage is 6.5 from 2000...and that was a refi of a 1993 mortgage that was 6% then.

Not high at all..

SubPrime Mortgage Blues

Mortgage Help Government Programs

Question: Why is it that in the middle of a recession, the government never fires any employees?

Instead they continue to grow and bloat their hiring and their programs?

California is in deep trouble, yet not a single salary has been cut or a government program suspended.

A 17% salary cut across the board of government employees would completely balance CA's budget... yet instead they mortgage my future and my children's future by IOU's, printing money, debt, and every single government employee gets to keep their cushy job.

Answer: Wouldn't that create More unemployment ? Even More people out competing for jobs ?

Foreclosure Help : About Government Programs to Stop Foreclosure