I am considering a refinance with a different mortgage company. I was told that my old mortgage company will send me a refund check for my money in escrow…is this true? And I was considering using the refund to pay for my appraisal fee for the refinance. Is this a good idea?

Technorati Tags: appraisal fee, escrow, money, mortgage company, refund check

My husband and I just purchased our condo on April 30th of this year. We purchased for 8,500, the appraisal was for 0,000 after flooring was added to a bedroom (which it was). The tax bill came the other day, we’re not worried about paying it because we have escrow attached to our mortgage, but I’m concerned the state and county have some things wrong. The tax bill lists my husbands name, but lists Wells Fargo as the Mortgage Holder and is basing the taxes on the property assessment of 0,000. The condo was a foreclosure, the LAST mortgage company was Wells Fargo (but ours is not, we have our mortgage through BofA), and the last time the home was sold it was sold at the price of 0,000. I just wanted to know if this looks like a genuine oversight on the part of cash strapped governments, or if there is any reason that this bill may be correct for what they are taxing us with. It looks to me like we got a tax bill for the old owners with our names on it. I’m planning on contacting the county to get it rectified, but I wanted to know first if there were any reasons why the bill might be correct. Thank you.

Technorati Tags: bofa, escrow, flooring, Foreclosure, governments, husbands name, last time, mortgage company, mortgage holder, oversight, property assessment, wells fargo

It all started in december, when i found out the homeowner had defaulted, and all along i was paying rent and doing sweat equity, stopped paying rent. The house is up for auction with in a week, the homeowner "says" he has a buyer and escrow is closing, wants me out the house with in a week and if i dont he’ll give me a 3-day notice….. can anyone give me some advice? Thanks

Technorati Tags: auction, escrow, quot, sweat equity

Around the 20th of February my husband got a call from the foreclosure department announcing that they had not received payment since October, and that our home was in foreclosure, according to there records we owe ,290.00, ,880 of which was attny fees, and 8.00 in late fees. I, being the bill payer, called them the following day, where they informed me that, according to there records at that point, they hadn’t received payment since August. I got copies of bank statements and faxed the statements with a letter of dispute to the customer research department, waited 2 days, and called LL back to see who received the fax and how long we would have to Waite to hear back from them. During a two hour conversation with customer service I was informed that the research department would get back to me with in 10 days. I explained that all we wanted to do was figure out what the problem is with our mortgage and pay it. The girl from customer service informed me that, according to her records, the problems started back in February of 2008, when they weren’t receiving the full mortgage and escrow pmnt. She was unsure of the details of the information she was giving me, and had to put me on hold several times to Speak with her supervisor. Our conversation was only confusing, and got us nowhere. In our loan agreement we chose to pay escrow and insurance separately, but her records show we agreed to have escrow billed along with principal and interest. 20 minutes later she apologized and said that all of this actually started in January 2008. My husband was in bankruptcy last year from January to end of March, so the customer service rep advised me to Speak with the bankruptcy department. I was transferred, I spoke with the bankruptcy rep for about 15 minutes, giving her the details of the drama, and requesting she locate the disbursement of a ,000 check we paid via phone on March 25, 2008, at that time we were informed that our payment would have our acct in good standing and we could go back to paying principal and interest only. {How It Started: At that time LL paid our escrow for 2007 (without our knowledge) and began foreclosure due to payments not made in full, and again refused to accept payments until paid in full. We only learned of the near foreclosure when I called the tax assessors to find out how much we owed, they told us LL covered the taxes. We called LL to pay them for the property taxes and discovered that because they payed property taxes we ended up owing 00.00 in attny fees and costs, piling up w/o our knowledge.} Back to the present: The Bankrupt rep contacted me after two hours of researching our acct, and informed me that she found the ,00 payment had not been disbursed properly, she made adjustments to our acct. I was told to send payment of ,577.00 to be combined with 7.00 they have in forbearance and that we would be caught up through Feb, and need to send payment for PRINCIPAL and INTEREST for Mar. I overnighted the payment with a detailed letter of the issues, happy as a clam, and called a few days later to make sure that payments where applied as discussed… to discover that they have returned that payment now, too. The bankruptcy rep avoided my calls repeatedly, and when I finally got her to speak with me on the issue of the returned check she said that there was nothing further she could do, that she didn’t know that we were in foreclosure (which she did, it’s why I called her), and that we needed to speak with the forclosure department, to see if we qualified to work out a payment plan. We finally got ahold of the foreclosures department yesterday (as they too where not returning our calls) where they state that we owe ,370.00 not including attny fees, dating back to October. They’re payment record is also incorrect, and the rep said I will have to wate up to 30 days (remember: I was told 10 before) for the research dep to send me correspondence regarding the fax I sent them. The foreclosure dep had no idea what the cost of the fees were, and attempted to shoo me off by telling me that it could take 24 to 48 hours for them to get back to us on that. But on the other hand they were willing to see if we qualify for a repayment plan. When I stated that there was no need for that, that we have the payments to get caught up, (as they have been returning all the payments we make, the mortgage is piling up in our acct) we just need to know how much we owe in attny fees, suddenly he was able to call the attny office himself and put me on hold while he found out how much we owe. When he got back to me I was informed that we owe a total of .877.00 and 6.00 in late fees, our new total (since the adjustment- which his records now show) is ,247.19. That’s a difference of ,043.00 from the original charges, that covered principal and interest, but the attny fees didn’t change??? What???The adjustment brought us up 3 months, and the rep wasn’t even posative when the

Technorati Tags: 15 minutes, acct, bank statements, bankruptcy, bill payer, customer research, customer service rep, disbursement, escrow, Foreclosure, insurance, late fees, loan agreement, march 25, mortgage, principal and interest, several times, supervisor

My dad has already been in escrow(saling the house) for almost 3 months, the mortgage is supposed to stop receiving payments once he was in escrow with a buyer, but they refuse. The escrow is supposed to close 3 days after the motgage starts foreclosure, and the mortgage company refuses to wait 3 days! Is there a way for either my dad or myself to get a 00 loan or something else?
Well he would pay it back when the house sold because its already in escrow!

Technorati Tags: dad, escrow, Foreclosure, mortgage company, motgage

I purchased this rustic cabin in Aarkansas after the Escrow Company holding the note on it foreclosed however, the persion living in the cabion has never had his name on any of the legal paperwork–his ex-girlfriend did and she was notified of the foreclosure–he has been notified by us and shown a notarized copy where we purchased the property but has thus far not even attempted to move out. He has no legal right to be there but we do not know what to do now? We have spoken to this man and each time he indicates that he intends to move by a certain time but has not done so. His ex-girlfriensd does not even live locally anymore. What are our rights at this point? Can we call the sheriff out and have him removed? Do we have to take him to court to get him out of our cabin? What do we do now? We are already making payments on this property.

Technorati Tags: escrow, ex girlfriend, Foreclosure, legal paperwork

I recent purchased a home that was a foreclosure. Now before you say somebody did it I can too. Stop right there. This house started off as a foreclosure the owner agreed to sell. the first loan on the house agreed to sell the second loan did not! While other banks were taking a couple of thousand dollars to settle a second loan maybe 3-6 thousand. We offered the high amount to settle the second loan the BANK WAMU said no we want 12,000!!! Long story short we did not want to pay that much they would’nt budge. So the first loan Wells Fargo Foreclosed on the property we had been trying to get for 3 months! Wait it gets better. The house sells at auction to an investment company that quickly relists the house for 100k more than what they paid for it. We called their office to make an offer again long story short we used their in house agent to represent us as to ensure we get the best chance at getting the property (I’ll explain later) They take almost 3 weeks to accept our offer
Now because we choose to use their agent we have no one watch our backs as the agent who represents us works for the seller same office. Again they drew up a counter offer that would make only a greedy seller proud (All contingencies go away in 10 days,buyer will pay 5k over appraised value) Its was a nightmare but because we had quality people in our corner we didnt get burned by some of these statics in fact we added one (Buyer agrees to pay only appraised value) Here is where it got sticky seller agrees to that and signs the counter offer. But when the appraisial came up short they were not going to honor the signed offer sheet! The reason I know that is I was at the property taking measurements and an agent showed up at the door stating the fact they he talked to the seller and they were thinking about canceling the escrow can he look at the property! I called the agent and she said ooh they didnt realise that after they submitted more comps the appraisal came in with their number.
We did finally get the house but it was hard fought 6 months! moral of the story

Do your homework
Dont give up
Use their (sellers) agent greed usally works double comission
Find someone else to watch your back as far as Housing knowledge goes
And read everything you can about housing
GOOD LUCK

Technorati Tags: appraisial, auction, banks, contingencies, escrow, Foreclosure, house agent, investment company, measurements, nightmare, ooh, signs, statics, thousand dollars, wamu, wells fargo

My dad has already been in escrow(saling the house) for almost 3 months, the mortgage is supposed to stop receiving payments once he was in escrow with a buyer, but they refuse. The escrow is supposed to close 3 days after the motgage starts foreclosure, and the mortgage company refuses to wait 3 days! Is there a way for either my dad or myself to get a 00 loan or something else?

Technorati Tags: dad, escrow, Foreclosure, mortgage company, motgage

I ve had the house for a year now. I dont have enough paid off to apply for an equity loan. I am going through a divorce which has been the main reason why i havent been able to pay the escrow on the property each month in addition to the loans.

Technorati Tags: divorce, equity loan, escrow, loans

I moved with my husband to Charlotte NC about 3 years ago from FL. We purchased a house from the bank (3 years ago) that we thought was a great deal, we only paid 5, 000. Since there was not urgency to move we decided to refinance the house for a lower interest rate about a year ago which brought our loan to 3,500. I have since lost my job, and my hubby is able to transfer back to FL so we want to sell and move ASAP as we are using our savings to cover some bills. The problem is that so many houses in my neighborhood went into foreclosure and sold for an average of ,000 as early as March 2009. We would have to sell our house for 3,000 to even break even with all the Realtor fee’s. As you know that seems almost impossible.

We considered renting, but our mortgage with escrow is 00 per month and we would only be able to rent for 0. That leaves us paying 0 out of pocket, and paying the property manager 10% on top of that. Plus we would be responsible for maintenance and repairs. We can not afford that.

What other options do we have aside from foreclosure and a short sale that will not effect our credit as bad, and will allow us to purchase another home in FL within a year? I have heard of Deed in lieu of, is that a realistic option? Are there any government programs that would assist since I am not working? I do not want to do a loan modification since there is also a fee for that by the bank and it will end up hurting us more then helping us.

Technorati Tags: 3 years, charlotte nc, deed in lieu, escrow, Foreclosure, government programs, hubby, interest rate, job, Loan Modification, mortgage, neighborhood, realistic option, realtor fee, urgency