Hello Hendrick - Ontario Canada, you can refinance and get an equivalent 20% from your equity and use it for downpayment. I would guess this will be a rental property. There are ways to do it. Send me a quick email at victor_catalan@centum.ca and we can take a look at your case and see if you have enough equity to pull.

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I brought my property in 2007 with my farther this was because my husband had bad credit. now my husbands situation has improved and we would like him put on the mortgage instead of my farther. how simple or complicated is this and are there any costs involved. we are out of our original fixed term agreement.

You can't just add or subtract names from your mortgages. You have to refinance it. If his credit has improved and the value of your home is still holding, this is a great time to refinance. Get your dad's name off your property and relieve him of any possible responsibility for it.

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2009.i want to lend another 5,000 now and change my term to 30 years does anyone know if i will have to wait untill my fixed rate agreement is finished in june 2009.and if i do get it do you think the payments would remain the same as i am increasing my mortgage to over 30 years instead of 25 years.thanks

What does the agreement say the rate will be after the fixed rate period ? It could be anything and mean your monthly payments can go through the roof.Another 5000 under those terms is very risky.

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I bought a house almost two years ago with 3 friends- after 4 months one of them up and left and we agreed to buy her out. there was no arguments and we all came to an agreement but or mortgage are still messing about processing the request. its driving me insane they keep saying they have everything they need but then demanding more. this has gone on for over a year. our two year fixed term contract expires in october can we(the 3 remaining owners) just get a new mortgage provider without her name on? then get her removed from the deeds- therefore not having to deal the rubbish mortgage provider we have now? we havent paid her yet we are waiting until she signs the deeds. she hasn't paid anyhing on the property for over a year.

Absolutely. You can remortgage with a new lender, and therefore change the terms of your original mortgage to best suit your current situation. For more advice on appropriate lenders and current mortgage rates, see: http://www.simplyfinance.co.uk/articles/articles/Mortgage/Remortgage/Remortgage_Process.html

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I just recieved a pre application disclosure and fee agreement. it says designated lenders and list 3 then it says private lenders and it says, a balloon mortgage placed with a private lender need not have a term of at least three years. does this mean they want to do a balloon loan. i wanted a fixed rate loan. im just worried about signing it.

No, a disclosure is just a disclosure. Nothing else. It is not a contract, not an offer and not a loan commitment. It is saying that if you agree to a loan through a private lender and it is a balloon mortgage , it can be less than 3 years. It does not mean you are applying for a balloon mortgage. The signature on that disclosure is just to say yes, the mortgage broker has follow state laws in telling you all these.

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My husband and i have banked with lloyds tsb for many years and for the last 10 years, we have endured mistake after mistake. however, the last mistake they've made has left us in a right mess and i'm desperate for advice. six years ago, along with many others, we received notification that our endowment policy was not going to reach its target. we decided at this point to switch to a straight repayment, cash the policies in and used them to extend our property. it was a worrying experience at the time and certainly put us off having an endowment mortgage ever again. however, you can imagine our surprise when we received a letter 2 weeks ago, asking what provisions we had in place to ensure our 'interest' only mortgage would be paid at the end of it's term. my husband phoned them immediately, confident the letter had been generated by mistake and to our horror, discovered that it wasn't. the woman on the phone told us our mortgage had been interest only for 5 years and advised us to make an appointment to see a mortgage adviser at our local branch. we managed to get one that day and after much investigation, he discovered that it had been switched to 'interest only' 3 years ago. thankfully, my hubby and i are fanatical about keeping records and we have been able to track down ever letter, mortgage statement, etc. during the period in question and there has been nothing to alert us to the fact this had happened. there's actually a lot more to this, like the fact we have actually had 3 meetings in the last 3 years to discuss new fixed rate terms and at no point was it mentioned. they are even continuing to make mistakes following he complaint, as we received another letter this morning to say our 'new' mortgage agreement was in place and yet again... it's "interest only". this was following our appointment to sort the mess out. can anyone advise us on what we should be seeking from the bank? we will be happy for them to put us back where we should have been had their mistake not been made, but i fear this might be unlikely. any advice will be greatly appreciated. no, we definitely hadn't agreed to any different terms and the mortgage adviser we spoke to, couldn't even find any correspondence that would indicate why the mortgage was switched at all. no signed agreements, or requests from us are on their system. he advised us to complain and it took us 4 days to pull together a letter, as we had so much 'evidence' to link to each paragraph. my hubby is used to creating prosecution files (he was in the police for 16 years and is now a counter fraud specialist)... but we do feel incredibly out of depth with this and vulnerable. we did think about a solicitor, but then we're also mindful of incurring added costs. i think if we don't get anywhere with the bank, we will have to consult legal advice before continuing to the ombudsman. i can't tell you how scared we are, as we stand to lose an awful lot and our mortgage is in a right mess.

I would think that you would have a Hard time trying to fight this situation yourselves. I would suggest that you go to your Solicitor and they will find the Correct Person to deal with this Matter

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Why on earth was a question about the recession removed? no reason was given, but i cannot for the life of me see how this violates the terms of agreement!!!! question: are you and your family recession proof? question details: 2008-04-08 04:31:50additional obviously a recession will affect everyone, but the question is really; how much? if you own your own home, or pay a fixed rate mortgage, you're likely to be in a better position than renters whose rents might rise. if you're not working or in temporary or casual employment you'll be affected more than if you have a permanent contract. violation reason: [none given] how would that offend anyone enough to report it? it's not like i've never recieved a violation notice before, but this one wound me up. and i know you're right that it's just trolls and i should ignore them - but come on?!!?!?!!??! thanks for all the great answers!!

Go to the forum and fill in the appeal form http://help.yahoo.com/l/us/yahoo/answers/first_appeal.html

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I moved into a shared house in september 2009 (2 exisiting tenants, 1 live-in landlord) on the understanding it was a legitimate landlord-tenant arrangement. this was particularly important as i am claiming the rent as a business expense and using the house as a weekday base (3-4 nights a week) whilst i work away from home. i have my main family home elsewhere. on moving in i duly paid my first month's rent plus security deposit on the understanding i would receive a tenancy agreement. however, confronting my then live-in landlord on this she quoted her insurance and mortgage doesn't allow it. does this mean she was renting her house out illegally? since this time, she has accepted employment abroad and moved out of the property last week, and a new tenant moved in over the weekend. during december she changed her mortgage and we now have an ast for a fixed 3 month period. however, my personal circumstances require me to move out immediately (my partner is 33 weeks pregnant) so i can be home every night to give help/support. i have told my landlord this and she reminded me the ast is for 3 months and to make her a reasonable offer. where do i stand? bearing in mind we had no agreement or safety certificates prior to this month (january 2010). i think she should let me go quietly - she has had almost 4 months of rent from me, 3 of which have been without any agreement or certificates! advise please! i managed to get a receipt slip from her from the money i paid

If you didn't sign anything then you owe her nothing. Just pack up and leave and don't worry about it. If she is out of the country she will not bother you. You will probably lose your security deposit so you should use it up if you can.

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I just got a letter that my fixed rate will be switched to an adjustable plus the prime rate. i have never been late on a payment and that's not what my agreement is. wouldn't it be like my mortgage company suddenly sending a letter stating that my fixed 30 year term loan is now an adjustable based on whatever rate they want plus prime? is it because obama is currently in the process of passing a bill to stop cards from changing terms so they are quickly switching all fixed to high rated adjustables while they still have time? i hate them so much, the crooks.

Yup, the most likely explanation is that this practice is going to be illegal in about a year , so they are doing it now.

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When our lease is up at our current property, my husband & i are thinking about moving into a "rent/lease to own" property here in las vegas...we don't have good credit & have heard that this is the best way for us to "eventually" own our own home...i was wondering if anyone else out there has every done this rent/lease to own thing. i don't want to get ripped off if it's not a good deal, you know? there seem to be plenty of lease/rent to own homes available out here, but i'm wondering if it's a legit deal or a rip off. how long do you have to "rent" before you own the property? how much is the typical downpayment before you can actually move in? is it like a typical rental agreement, where if something breaks during the lease term they fix it or is it like a mortgage..you break, you fix? what happens if at the end of the lease term you decide that you need more space or just don't like the place anymore? do you get your "rent credit" back? or lose it like you would with rent? any help would be great...especially if you could give us a website to visit or a property management company that handles this type of thing so we could talk to a real person instead of just doing computer research. we're not in a rush as our current lease isn't up until april 30,2010...we would just like as much information on this subject as possible so as to make an educated decision. our other option is just to rent again...but we'd really like to look into rent/lease to own... i've read that when you do this type of "rental deal" , at the end of your lease term you "buy back" the house...i'm wondering what exactly this means. is this where you go & have to get your actual financing from a bank? i'm confused on all the lingo i've been reading. help me!

Every rent/lease to own deal is different and you work it out with the seller.This is a completely legal deal and is much more common when people are having trouble selling their homes. The reason it would be good for you is 1) if you expect the property values to go up in your area and you can lock in the price now, and 2) all or part of your rent is applied towards the down payment. If your credit is not too good, it also might be just as well for you to continue renting for another year or so , pay off bills and improve your credit score while you save up. If you want more information, I suggest you work with a real estate agent who is an experienced buyers agent. They would be able to advise you and negotiate a good lease option. Do your research and take your time because you should be able to find a good deal in your area.