Sorry, double post.

 

I'm in the process of buying my first house too , I got approved for 100k on my own and houses I'm looking at , they want so much !

I am getting Peed , my appartment rent is 775 a month and Im try to make my morgage about the same amount

 

Since you're not in a hurry, any kind of schedule other, I concur with the Refi and staying put until actual time to move on. You'd still be paying down principal as opposed to tossing the $$$ to the abyss while renting.

Various places are "reporting" better housing uptick. Personally, I'm a bit suspecting of that as I'm still not sure the bottom of the mortgage crash has been seen. Especially in light of the Title issue mentioned. Now that is news to me. Our house in CO original lender was Country Wide, which then got assumed by BoA. We've had very fortunate tenants and our market out there....seems flat.

How would I go find out if my title has any problems given that I'd like to not have it be a surprise if/when come to sell?

Links to any articles are welcome.

 

Zman am I reading correctly that you are NOT losing your house then? If I am way behind the time sorry...

But if this is the case, then I am happy to hear it!

 

As it is right now I'm not losing it, have meeting with Trustee on April 9th. It's up to him now, LOL. But the lawyer said everything looks good and should be fine. After that day, I'll start working on it and finish what I started, and it will be worth well over 300K.


Anyway, back on topic, sorry VW.

 

Glad to hear it, and good luck!

 

Thanks man.

 

The SEC is suing Wells Fargo to enforce a subpoena demanding records of mortgages that were bundled into securities and sold. The house I was looking to purchase was foreclosed on by Wells Fargo and then sold to BoA -- I'm betting it's tied up in some of this nonsense.

You may want to review all of the documentation you have to ensure all papers are properly dated and/or completed with signatures. That's part of the Clear Chain of Title issue.

Bah, no sweat.

 

If you can refi and pay the house completely off in 6 years that's the way I would go.


Have you guys ever heard of "produce the note"? Supposedly banks can't foreclose if they can't find the original contract you signed.

 

I know folks that have had their mortgages 'annulled' so to speak, as the bank could not produce paperwork proving the owners owned them a damn thing.