How many times did you miss payment on mortgage? That will decide what your credit score is (from Equifax) which will ultimately decide whether youir lender will renew your mortgage. Check with your friendly neighbourhood mortgage broker, and they will be able to get you a good deal.

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My wife and i are separated and going through a divorce. she has said that she does not want anything to do with the house (there is no equity at present and i am paying the mortgage). my wife left the matrimonial home when we separated. i need to keep the house on as i have my two children who i have to stay over three/four nights a week, i do not want to sell it. i have looked into remortgaging the house in just my name but cannot raise the necessary amount. can i get her name removed from the deeds - she is thinking about declaring herself bankrupt as she has racked up a lot of debt since we separated and cannot afford the repayments

You may want to ask a lawyer, but maybe she can quitclaim it to you. If you live in a community property state you really should have an attorney. If she files bankruptcy, it may impact you. Good luck.

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This year i paid off the mortgage on my house. i put the house up for sale, and i decided that after the homeowners insurance would expire, i'd risk going without renewing it, since i never filed even one claim in 15 years. i didn't take the time to cancel the insurance, because i thought that the policy would automatically cancel if i didn't pay it. the house was sold four months after the expiration date of the homeowners insurance, but the insurance company insists that i must pay them for the four months (which comes to $314) because the policy automatically renewed. i refused to pay it, so they have turned me over to collection. do i need to pay it? what happens if i ignore the collection notice?

Well, of COURSE you have to pay. You didn't take the time to cancel the insurance. The policy did NOT automatically cancel, likely because your state insurance department doens't allow it. If there HAD been a fire, and the insurance company would have been required to pay, they are ALLOWED to go after you for the premium. If you don't pay, they will sue you, and win.

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My husband left me and our son on november 2007 so he can be with his girlfriend and told me that we were getting divorce. on february 2008 we had to renew our mortgage. he filled out mortgage application with no co-sign. the lady from quicken loan came to my house and told me that i had to sign some papers. both me and my ex said that i should not signed anything because i have no income and we were getting divorce, but she insisted for me to do it because i was still legally married at that times, so i signed the papers. my ex stop making mortgage payments since december last year. we got divorce on few months ago with an agreement that my ex husband will take full responsibility for the house and expenses related to the house. few days ago, i received summon from the court with my ex name and mine as defendants and it said that i am responsible for the house being foreclosure. i called the lawyer who represent the mortgage company and she simply said that i signed the document so i am responsible for it and suggested to find a lawyer. i look at the mortgage documents. the application has no co-sign and only has my ex name. but then i found out that quicken loan put my name on the deed (the original deed has only my ex name), and my name on the mortgage sheet (but not mortgage application). whenever i called the mortgage company they won't talk to me because they said my name is not on the mortgage list. is there anyway i can get away with it. my ex told me not to worry because the divorce decree mentioned that he will take full responsible for the house. i just spent 8000 for a divorce lawyer fees and i don't make a lots of money from my jobs since i just starting getting back to work. i am taking care our son by myself, working full time and going to school. please help me. thank you. on the mortgage section (b) "borrower" is my ex name and my name, husband and wife is that mean i also a borrower? or is it because my name is on the deed. i really appreciated anybody help who answering my question. thank you.

I'll be honest...I didn't read your post because 99% of it has nothing to do with the foreclosure. Your name is not on the loan...that means you are NOT legally responsible for the MORTGAGE with the bank. If your name is on the TITLE..that makes you an OWNER of the home and whenever a house is foreclosed on, ALL OWNERS must be notified. Your credit is not going to be affected because there is no mortgage account to tie the foreclosure to on your report and the fact you signed no legal contract with the bank. What you signed with Quicken Loans is called "marital interest documents"...they are required by your state anytime you are legally mmarried, the day of the closing of the loan, whenever the financial situation on the mortage changes. It is common and is NOT a mortgage note. The documents ONLY state that you are legally aware of the changes...not one thing more....that prevents one spouse from stripping the equity of the house and gambling it away without the other spouse knowing about it. It is that simple..you are making this WAY more complicated than it is. If you no longer live in the home, you do not have to get an attorney....b/c you don't have a right to the house, per your divorce decree. Nothing an attorney can do for you.

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Probably, i have to leave canada for a while but i want to keep my house in gta. my mortage will be matured one year later. can i renew it right now? also, i plan to put my house in lease market when i away. any suggest? does it sounds work? thanks.

What do you mean by mature? If you can find a good tenant who pay a rent that covers your housing expenses renting should be fine. A good tenant will keep the house in good condition. After one year, will you return to the same house? If yes, are you going to refuse the tenant to renew the lease.

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My friends are in the 40th day of a 45 day escrow and the lender is now asking them for verification that the husband's green card will be renewed when it expires in 3 months. there is no way that they can get this verified within the next couple of days. is this a new law or is this discrimination by the lender? they have been living in this country for several years and they both have good jobs; they can afford the house that they want to purchase. who could they contact to get help?

They are not be discriminated against, but they obviously are not citizens of this country. Consider if you were a lender and you were asked to give out several thousands of dollars to someone who you know may have to permanently leave the country in 3 months . Would you take the chance, especially in today's environment? While the request has some timing issues, it is certainly a valid request.

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Hi all, i have a 5 yrs term mortgage that i got 2 years ago for a 4-plex i purchased. last month i contacted an appraiser who appraised the property. based on the appraisal the property is worth around 100k more than purchased. this means i can apply for refinancing and potentially take out some equity from the house. here is my dilemma: the mortgage is with excellent conditions - good interest. i got it through a mortgage broker with a big bank in canada. i have 2 options for the purpose of refinancing: either contact the bank who provided the mortgage directly or apply through a mortgage broker who can decide to work with different banks. the problem with going with a mortgage broker is that he already told me the new conditions will be worse than current conditions i have. if the current bank approved my refinancing application it would be with the same or better conditions! on the other hand, if i go with the current bank am i not taking a risk that if they do not agree to refinance the property because i do not meet their criterias (i am self employed now), then they will also not automatically renew my mortgage in 3 years when term is over!? note: if i do not contact them now, then my understanding is that the bank will automatically renew my mortgage since that is the law in canada: as long as you pay all your mortgage payments on time, the mortgage is renewed automatically without the need to re-apply/go through the application process again! i'm just not sure if i contact them now for refinancing and fail, that they will not keep record of my new 'bad' information (i.e. self employed, less stable, etc. whatever caused them not to approve me) and not automatically renew my mortgage when the term is over! bottom line i do not want to lose twice - once not being approved by the good/big bank now, and second damage my chance to be automatically renewed in 3 years. thanks & regards.

Unless things are really, really different in Canada as the USA then your mortgage will not automatically be renewed when it comes up in 5 years. Rather you will have to re-apply for a loan and if they don't like that you are no self-employed they won't renew. So, assuming this is the case there is nothing lost by going with your current bank. However, if you are worried just go with a different bank (or the mortgage broker, though I've never had any luck with them). I doubt the new loan your current bank would give you would be much better than a new loan from a new bank, so it doesn't matter so much which bank you use.

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Hazel renewed the $94 698 mortgage on her house for a 3-year term at 7.50% per annum over 20 years. her house has an assessed value of $137000, and the residential mill rate is 9.78. determine hazel's monthly payment, including taxes.

For a 20 year loan of $94,698 at 7.5%, the monthly payment is $762.88.

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My boyfriend has an l-1 visa and its going to expire in october and he can renew it after it expires. he wants to buy a house and was i wondering if he could get a mortgage with his immigration status???

Does he have a job? Has he stayed out of trouble? Do you know for sure that his visa will be renewed? All you can do is ask, and the worst they can say is no.