USDA about my home loan

You can have them sign a quick claim deed which will remove their name from the deed, which means they have NO rights to, they have to sign a release of liability in order to get their name off the mortgage. But if they dont, which my ex would not, all that means is that they are liable for the mortgage if you default. Not a big deal if you dont default, if you do , SUCK FOR HIM. lol

i have been in my home for 10 yrs now. i pay 7.25 percent interest. i would like to pay down my house before i retire in ten yrs. does usda rural dev refinance to a lower rate?

Hi lil,

You need to contact your lender and check out if he can refinance the loan for you. You can even contact other lenders to check out if you can refinance it or not. However, in order to refinance the loan, you should have a good credit score, stable income and equity in the property.

why do they check your checking account once you have sent the four months of records on your account. how does it affect your possiaablity to get a loan. my mother has an account and all the bill money is put in hers and she writes the checks.

I am in the process of a Usda loan,it went to underwriting last week at the bank it has a in house underwriter.My question is what happens from there?Does it then go to Usda for another underwriting?Thank You

Hi Racheal,

You've mentioned that your loan has gone for a underwriting with the in-house underwriter. Once it has gone for underwriting, then there should not be another underwriting for the same loan. The in-house underwriter will look into your loan application and check your eligibility.

Thanks

joy: i'm not quite sure what you refer to here, but lenders are always updating information. perhaps that's what is happening. please elaborate a little bit.

I had a direct phone number for making payments via phone and lost it. It is not on my monthly statement. Could you please provide me with that number. Thank you

clg, it would be a smart move to contact your lender - this is a forum for questions, answers, ideas, etc. we, here, are not your mortgage lender.

have the usda taken my payment for the month of sept.

Hi cox,

Didn't you receive any statement from USDA mentioning that they had received your payments? If not, then you need to contact your lender and check it out with him.

Thanks

>>what happens to my house when i die. there is still a balance due

An heir is going to inherit the home and they'll have to refinance it if they want to keep it, or sell it.

we purchased our home about two years ago. i drive school bus for a private company and did not meet the annual minimum hours in washington to be eligibile for unemployment. my family and i relied heavily on credit cards that summer. this year i qualified for unemployment, and even though i filed the 1st of july, did receive any $ until the 1st of sept. we have maxed out our credit cards ($10, 880), are behind on utilities and could only make part of our usda payment. what happens to our home loan if we file for chapter 7 bankruptcy? we want to keep our home.

As you want to keep the property, I would suggest you to go for Chapter 13. If you file Chapter 13, your unsecured debts would get discharged. As far as the mortgage is concerned, your lender would give you a repayment plan to pay off the dues. This will help you in saving your property.

What do you mean by "Pay off the dues"? What are"the dues"?