Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Lizzie asks…

How do I contact HUD if I think my mortgage company is wrong?

I cannot get any answers or communication from my mortgage co. since I applied and was told I was approved for a HUD Partial Claim Loan. I signed the papers, the MOrtg.co signed and mailed back to me. now they say *(mort.co) they changed their mind. who can i call. I really think what happend is my Mort co never filed the papers with HUD after they were signed & approved. and they just noticed that. I need to talk to someone at HUD and get a straight answer.

Your Questions About Foreclosures

The Expert answers:

Call your local HUD office and ask them if you have a loan or partial loan whatever on file with them? The Mtg. Co. May have just backed off with interest rates going up or something. I don’t blame you. Someone should give you a straight ans. If your local office won’t help go higher, ask to get the ph. # for the state office and talk to someone there. Good luck.

Your Questions About Foreclosures

Helen asks…

Where can I find hud listings in Virginia Beach?

I am interested in purchasing a hud/foreclosed home in the virginia beach area. I am having problems finding this info online. Any info for
info online only would be appreciated.

Your Questions About Foreclosures

The Expert answers:

I found VERY interesting information about your answer & options here.
Http://buy-a-foreclosure.blogspot.com/
GOOD LUCK

Your Questions About Foreclosures

Ruth asks…

Can I drop my HUD insurance on an FHA loan after a certian period of time?

My wife and I purchased a home in 9/2008. I remember our mortgage person telling us that after we pay a certian percentage of our loan we can drop our HUD insurance? I can’t remember what she exactly said. So I’m wondering if anyone knows what it is that we can drop and how much of the loan needs to be paid? Thanks!

Your Questions About Foreclosures

The Expert answers:

You have to pay down 20% from beginning balance or have that much equity built up over the period of time you’ve owned it.

Your Questions About Foreclosures

Ken asks…

What are the most common items that are closing costs and disclosed on the final HUD-1 settlement statement?

What are the most common items that are closing costs and disclosed on the final HUD-1 settlement statement?

1. These include earnest money, appraisals, loan application fee, and processing and origination fees.
2. These include inspection fees, credit reports, loan application fee, and processing and origination fee.
3. These include credit reports, appraisals, loan application fee, and processing and origination fees.
No, pick out of the three.

Your Questions About Foreclosures

The Expert answers:

Inspection fees paid up front to a home inspector that has nothing to do with your loan comapny would not be factored into a HUD 1 Settlement Statement.

The best answer would be #1, as earnest money is also entered on the settlement statement in addition to the items listed in #3.

Your Questions About Foreclosures

Carol asks…

I have a FHA loan on a HUD home, will the government shutdown affect my closing?

We are scheduled to close on April 14, 2011. Our home is a HUD home and we have a FHA loan. I heard that all FHA loans will be on hold while the shutdown is in affect. Is that for new applications or does it affect loans that have been approved and ready to close? Will the closing stop because it is a HUD home or can we still close?

Your Questions About Foreclosures

The Expert answers:

It will likely be delayed. The loan is not fully approved until closing, and the HUD offices will be closed, there will not be anyone available to sign the closing papers for the seller.

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Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures

Your Questions About Foreclosures

Your Questions About Foreclosures