Q: I haven’t paid my mortgage in over a year and they just put a foreclosure letter on my door! I have tried to talk to the mortgage company and they will not help me…they told me to just do what I am doing. What can I do to resolve this? Read More.
Q: What type of loan (equity line of credit or loan) would be better to take out to pay off credit cards and do minor home improvements on an investment property? Total debt is $87,000 and have 2 credit scores over 710. Read More.
Q: I have a credit score in the high 700s and will be going into foreclosure on a home. Can you tell me what that will do to my Fico score? Read More.
I want to use my current home as an income-producing property, but am having trouble getting a loan. Can you help?
Q: I own a three-family home in Holyoke, Massachusetts, and would like to use it as a rental/income property and purchase a home in a more rural area. Can you help me find a lender who doesn’t see in only black and white? I spoke with a lender who said that they would not consider the rents from all three apartments because it wasn’t on my taxes as such. I tried to explain that I am living in one apartment and my mother in another, so the two apartments weren’t rented out. I have all three apartments rented out–$700, $700, and $850 per month covers ALL the mortgage, taxes and insurance, and leaves me with $950 income at the end of the month. I am so frusterated and any help on such a lender or your professional suggestions would be … Read More.