USDA about my home loan

Hi deanori,

Your monthly mortgage payment is your "due". Though a person files bankruptcy and gets discharged, the lender still holds the lien on the property. If the borrower wants to save the property after bankruptcy, then he should reaffirm the mortgage with the lender and pay off the dues.

Thanks

to be frank, i've never heard of a mortgage or loan payment referred to as "dues" until i stumbled upon MortgageFit a couple of years ago. because i could figure out, in context, what people were describing, i never questioned the usage.

but yes, quite simply, dues is the monthly payment you make on your loan. nobody is referring to the social club you might belong to. but wow...even some churches consider a sunday offering to be "dues." of course, we all know that we should be paying tithes.

okay...tithes is 10% of your gross income (all income). it's the first 10 per cent.

HOW DO I FIND OUT THE MY LENDERS NUMBER FOR MY INCOME TAX AND THE ADDRESS

amanda, that's a strange question. do you know who your lender is? do you get statements in the mail for your monthly payments? you apparently have access to a computer, so why aren't you able to look up the lender in an internet search?

i'm afraid we can't help you when we don't know who your lender is.

My in laws have a home loan through USDA, my mother inlaw passed away from cancer, my father in law wants to put my husband on the title of the home. There is still an exisiting mortgage, you do this with these types of loans?

Your father-in-law will have to first remove your deceased mother-in-law's name from the property deed by filing an affidavit of heirship at the county recorder's office. Once this is done, he will have to sign a quit claim deed and add your husband's name to the property. As far as the mortgage is concerned, both of them will have to contact the lender and refinance it.

I am a single parent, currently buying a home through USDA and I want to know if I die what will happen to my loan. I have three small children and I wanted to know if USDA would let another family member take over the payments so my kids can have a home.

If the loan payments are not made on time, then the lender will have the rights to foreclose the property. The lender would let a family member of yours to take over the payment. In order to take over the payments, the lender would ask your family member to refinance the loan in his/her name.

sabrina, you need to sit down with a financial advisor to figure out a way to best preserve your home for your children. if you don't have a will, you need to develop one.

generally, as far as payments on that mortgage are concerned, the lender isn't going to even begin to get antsy unless and until payments are late.

My mother had a USDA loan and has passed away while still owing on it. It was for a Mobile Home that is on my property. I gave her life land lease for the spot the home is on. I do not want the mobile home what will happen next?

Hi Bubba,

If your name is not on the mortgage, then you're not liable for it. If the lender does not receive the payments, then he would foreclose the property. Your credit won't get affected and you won't be liable for the balance dues.

Thanks

Bubba, as an heir, wouldn't you want to be able to sell the home so as to pay off the underlying debt? You won't have any rights to the home, inasmuch as the mortgage is still in existence. Clearly, if your Mom had a will, that will have some bearing on what you'd be required to do; but the lender is going to be looking for payments pretty soon, too.

i need the mailing address for making my payment its no where on my bill

Cathy, since none of us on this website know who you are paying for your loan, we cannot give you an address. Here's a hint on how to figure it out: do an internet search for the company that you're paying and you'll probably find out their phone number and address. Call the number given and ask for the address, and I bet they'll give it to you.

Does USDA Refinance their own home loans. I have been with them 8 years @6.125% and would like to refi with a lower % rate.
Thank you