David Reed

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Member Since July 9, 2008 , From Austin TX, United States
David Reed is WalletPop 's Mortgage Expert
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Answered: What happens when a refinance company tells ...

The loan officer should have never made such a suggestion but there's not a lot you can do. Your note to the lender is a promise to pay each month regardless of who told you what. You could file a ...

Answered: Sudsidy recapture for rural development loans

Each month, the government subsidizes a portion of the house payment for those with very low monthly income. This subsidized portion accrues each month in an account and is typically paid off when ...

Answered: Walking away from mortgage in Georgia, what are ...

Nothing prohibits it legally. You can't go to jail for it. The loan will go into foreclosure and the bank will sell it to someone. Your credit will be harmed tremendously for the near term.

Answered: My mom and dad are in their 70's. They got a ...

I got an email from a couple two weeks ago in a similar situation, yet the husband has been disabled for 40+ years with a congnitive disorder and his 65 year old bride is still working. They've owned ...

Answered: Ex boyfriends judgement on my property

Not sure. You may be able to work it out if the signature of the quit claim were notarized, showing the date was before the judgment and the judgment was filed after he gave up his ownership. This ...

Answered: Timing

You can start right now but you wouldn't be able to close because the new lender would want to see the old loan closed, along with its current terms. But you can certainly make a loan application in ...

Answered: Seeking finance 30% return in One Year

If you have an asset to secure other than a good idea, you might try that approach. But aren't those boxes already being sold in mass-consumer electronics stores and also sold cheaply to lower income ...

Answered: In debt and mortgage trouble

Not sure there's a magic answer. Chase, along with every other mortgage lender, has a "workout" division that can take past due payments, put them into the original loan balance to get them caught up ...

Answered: GMAC not honoring legal aggrement

Sheesh, I dunno. You're already doing what I would suggest. Where is the copy of your original note/terms. It would seem to me that simply faxing/attaching a copy of your soft prepay agreement ...

Answered: Co-Op Financing

Because that's where the co-ops are. Co-op financing is hard to come by, there are no co-ops where I live for instance so there's no co-op loans. It's not necessarily restricted, just exists where ...

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