ON Canada, email me at victor_catalan@centum.ca and let me try and help you. I am not sure what your hold back is and I am interested to know. Victor Catalan - you financial success partner !

Powered by

I found out that a secure c/c, only the applicant receives a credit score while the other card holder doesn't. my husband and i want to start building our credit so later on we can obtain a mortgage for a home. should my husband also get a secure c/c to enable him having a credit score and then later close it after a regular c/c can be established? or should we just have the one secure c/c and later on with a regular one start building his credit along with continuing mine? can you obtain a mortgage when only one person of a marriage has a credit rating? thanks!

You should be able to add a spouse as an authorized user and the account should show up on the spouses credit report. It will count in their score. It might be a good idea to each get a small secured credit card. Use each card for small purchases and pay in full each month. In about a year, you should be able to get a regular credit card or convert the secured card to a regular account. Converting to regular credit card accounts would be much wiser than closing one of the accounts. You will need a lot more credit history than a credit card for a year before you can qualify for a mortgage. For starters, plan on putting aside money every payday toward a downpayment and closing fees.

Powered by

I have all the funds secured (the closing costs, the mortgage approval, the whole nine-yards), i've found a nice house i want in an area that's great for me. so, i look up the agent, give them a call during normal business hours...and get sent to a voicemail. so, i wait an hour (it's still during normal business hours) i call again, and get sent to voicemail again. so, this time i leave a voicemail. the next day, i still havn't gotten a returned call. so, i call his business cell as well as his office phone (during normal business hours) and get sent to voicemail on both. i leave messages. the next day, i still havn't gotten a return call. do i have any other options at this point? i have the funds secured and everything and i really want the house, i'm literally just waiting for the guy to do his job right and return my call. the guy is the owner of the real estate company. i cannot seem to find any other agent working for the company.

You should be contacting a buyer's agent, not the listing agent...ask friends and family for someone they may have worked with in the past.

Powered by

Buyers had 30 days from the signing of contracts to secure firm mortgage commitment.it was in a rider our lawyer added. it stated that they would get a mortgage for a specific amount "at the going rate" of the day it is issued. also the buyer had to notify the seller if they received a commitment or not within the 30 days.they did not.the buyer may have received the mortgage commitment and turned it down cause they didn't like the terms.n default at end of this extension we are being told the bank switched the terms on them after the fact and they weren't able to afford the payments. is this the seller's problem? the contract had an "on or about"as a closing date. the buyers went beyond 30 days to secure financing. we were told they forfeited their contingency and therefore went into a binding contract. is this true? our lawyers set a time being of the essence date for the last time for closing. we gave them 2 extensions.they still have no mortgage. will they be in default at end of

depends on the wording in the contract. the buyer typically doesn't have to accept a loan that is bad, just because it was offered.

Powered by

My contract says i had 30 days from signing to secure a mortgage. i have not been able to do this. it also said that the lawyers must have a statement or notice in writing that i have not been able to get the mortgage ( or a letter if i did get one). i realized this just now and have not sent anything to anyone! it is also worded that closing will be on or about nov 20th. i believe closing can be at the latest dec. 20th. will i be in default as of now or after the 20th? will i lose my deposit? this is a new york state contract of real estate sale. i did have a pre qual but the bank wanted to ask for more down payment and therefore give me less in the actual mortgage. i decided i didn't want to do this. i am now applying to 2 other banks to get the best deal. the sellers are getting on my case cause they said i changed the terms of the contract. the contract does have a specific amount with a specific lender mentioned.

Regardless if it is a New York State contract, what was being written and signed by both Buyer and Seller is bindable by law. In your agreement, it would clearly stipulate when is the day of the contract's expiration for you to acquire a mortgage. And yes, you are certainly well to lose your deposit.

Powered by

Hi i'm looking to get a va secured mortgage. i know my credit will not be much of an issue in getting pre-approved, but will it matter that i don't have any money set aside in savings and checkings? what about having my checking account go in negative, will this have an affect? for the house particular house that i am looking for, seller will pay the maximum of the closing cost allowed, and the remaining balance will be gifted from a relative, so i will probably be able to do this with virtually no money, which is exactly what i have in my bank account. will my bank account be an issue even if my credit is good and the mortgage is well below my maximum approval?

We just used my husband's VA loan and they are looking for no negatives, verification of deposit, and we had to have a balance of 1900, plus they will want letters if there are large deposits that werent direcet deposited ...we have great credit, and our mortgage was 18,000 below our approval amount

Powered by

Filed chap 7 1/05. mortgage was to be reaffirmed. court in 3/05 to settle case. filed for divorce immediately after and temporarily moved out of house. mailed forwarded entire time with exception of first week i had moved out. moved back in house 2/06, (paid ex's late fees &jan. pymt, all pymts since have been on time anand with divorce, i'm to have mortgage put in my name. found out that mortgage was never reaffirmed. contacted attorney that handled case, told me that he had 'done everything he was supposed to', that 'all paperwork in regards to my case were sent to me', that he was 'no longer in provate practice', and that he wouldn't do anything to help. mortgage company will only say re-open case, file reaffirmation, and re-close. i can't afford attorney, much less filing fees. i'm in desperate need to have this handled! my credit is suffereing and i can't even qualify for a secure credit card! i'm also required to have the mortgage placed solely in my name. help!

contact the bar about this atty in your state and see if they can make him do his job

Powered by

I signed a purchase agreement in january, and wasn't to close until june. a change of circumstances has come up which, unfortunately, makes it impossible for me to live in the house. i contacted the realtor and explained the situation to the sellers, and i even offered some cash in addition to the earnest deposit money to make up for the two months the house was off the market. the sellers refused the offer, and said they may sue me for specific performance. i was looking for loopholes, and according to my financing contingency addendum i must be able to secure a conventional or privately insured conventional mortgage. i've already been pre-approved for a loan, and the lending agent said he's not going to deny me for the loan even though i told him i can now no longer comfortably afford the house, but the only loan i was approved for is an fha loan. is this something i'll be able to use in order to get out of the contract?

It maybe worth your time to have a lawyer review the sales contract; it’s hard to say without knowing all the facts what your potential liability maybe Though in general, while a civil remedy under contract law is specific performance where the courts force you to perform the contract, it’s a very expensive litigation process to commence, its usually brought by the buyer to force the seller to hand over, very rarely a seller will succeeded in forcing the buyer to actually buy, to many factors outside the courts control, for example the loan Many factors can happened during the litigation process that would make it impossible for you to obtain a loan, so the suit is fruitless if you can not obtain a loan based upon change of facts during the litigation, so in my opinion the seller is bluffing on the specific performance complaint, best bet is to spend a few hundred and consult a lawyer