Can you explain why they will not renew? If they closed, another company would take over administering the mortgages and you will just renew it.

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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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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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I have a investment house located in orlando, fl paid $ 315,000.00 minus $ 62,000.00 second mortgage that i paid from all my savings so i still owe $ 253,000.00 interest only and to be renew in october.i've been trying to find a way to try to get out of that situation without losing to much money,i know there will not be such thing as not to lose money , so i tough about few solutions and would like to know your opinion or suggestions: my primary house is paid off and i can sell it for the amount that i owed on my investment so should i sell it and paid off my investment and keep it renting it and find me a apartment or try to sell my investment at which which will be approx $ 150,000.00 and take that money from my primary sold house and pay them off and start a new life, or just let it go and still sell my primary house and wait for the mortgage company to see what will happen,short sale or foreclose on it , that will hurt me but i need to find a way to go back to happiness and less stress family. i just talk to a attorney and he is telling me to go short sale but it can end up costing me a lot of money just in attorney fees and trash my credit. thank you for helping me.

Hi Andre P For me i would suggest you to have a short sale, in future you can earn more then now you have, but it depend how hurt it can be, if it is too hard for you handle then just make a sale so can exchange a your happiness and reduce stress. -- Eric http://forexsoho.com/

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I bought my first and only house 3 years ago on a 90% deal fixed rate. i'm now looking to re-mortgage and having spent £30-40k on the property am hoping that it will be valued at substantially more, perhaps even enough to let me get at the 75% rates. so how does it work? oh, and i'm in the uk and the fixed rate period of the mortgage has expired. ordinarily i think i'd go through a comparison checking website to see the best deals and then approach those companies to see what they'd offer. however because of the works i've done, extending the house and refitting units the value should be so far above what it was three years ago. i think the mortgage companies will want me to get a valuation, but without knowing which one i'm going with then i won't know which companies valuations they'll accept? what do i need to do first? last time i went through an ifa but he's since now retired.

As the previous Steve has mentioned some areas have dipped in price so you may need to build that into your calculations. However assuming the value of your house has risen you now have a couple of options. One is to see what your existing provider can offer you in terms of product. They will probably use a desk top valuation eg. no one leaves the office and will be calculated using historical house price movements therefore won't take into consideration the improvements you have undertaken. They should give you the option of having the house revalued although this will be at a cost to you. The second option is to remortgage. As you quite rightly said any new provider will want a valuation done. The cost of this will depend on which deal you choose (many have free valuations). Do however be aware that lenders offering free valuations (depending on the company) often use drive by valuations. Its worth checking this out first as again I expect depending on where the extension is if a drive by valuation takes place it will make very little difference. Do note its the lender that will arrange the new valuation not you as they will want it done by a surveyor of their choice.

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My wife and i own a house and are trying to obtain a new homeowners insurance policy. you see, we've lived here for 2 yrs and were robbed 2x in the first 13 months...we since installed a good alarm system, put security doors up and haven't had any problems. it's not a bad neighborhood perse, maybe just bad luck, living on a corner and such. our insurance is "non-renewing" our policy and we're trying to find a new one, but it's tough as you can probably guess. it's really pissing me off, as this is not our fault, we make sufficient income, have excellent credit (i know this means little to insurance), but are currently working with the company that handles our car insurance. they tried one place and were told no and are currently looking into another. what happens if we aren't able to find anything, at least right away? i believe that our mortgage company says that we need insurance (states on contract). we only have about a week to find something, otherwise... advice? i know some of you would say to move, but that's out of the question. house prices are down right now, so we're going to ride it out. what we need to know, is what we should do right now, or what our options are. i seriously don't know why the mortgage company needs to get involved, as it has nothing to do with that... we're responsible, college graduate young couple with their first house. what a lousy experience this has been. thanks for all of the advice. yes, its down to the wire now. hopefully the agent is able to find something by monday, otherwise i'm going to another local guy. we only have one week left to find something. i live in ca and to answer the last poster's question, my driving record is clean (13 yrs). this is all a big nightmare.

Credit actually means ALOT to insurance companies. Also, the mortgage is getting involved because if the house burns down, the insurance pays off their loan - no insurance, defaulted loan. It has everything to do with them. Now, you have very few options right now. Moving would do nothing by the way because the loss reports are run on the person, not the property, so these losses will follow you for 3-5 years. You need to continue shopping. Contact an independent agent who has numerous companies and see who will take you on. Your other option is that you can get insurance through the mortgage company, but it is very expensive and normally covers fire only with no personal property coverage. The other option (in PA at least) is the state insurance program. This is also very pricey, but may offer broader coverage than the mortgage policy. Unfortunately, you are very high risk right now - get whatever you can and ride it out until it has been 3-5 years after the claims (depends on your state). 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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Any and all help or suggestions will be most welcomed. i have gotten some very valuable answers to a previous question before. you actually helped me more and faster than the insurance agent. blessings and thanks,, now, here's another... (boy this is confusing if one never has gone thru this before.) as my house was destroyed by fire, considered a "total rehab" by the insurance company, now the insurance company informs me that they will not renew my home owners policy due to start a new year on june 1. (2011) only one more monthl. i have asked my agent to find me another carrier to insure the property "as is" perhaps with some limited coverage. i am about to try to sell it "as is" as a total rehab. that means contractors who are interested in it need to walk through all nine rooms and the basement. if the two contractors who are interested back out or dont offer enough to cover the mortgage (along with the insurance payoff) i intend to list it with a realtor who is waiting for the listing. but i am terrified to let people walk around in here because of the fire damage and fear some one will get hurt or worse. (something falling on them, breaking thru a weakened floor, etc.) i would feel terrible as a human being if this happened, also have realized that i could be sued too. (and of course they would be right). just dont know what to do. have you knowledgeable people out there especially in insurance or real estate, ever heard of an insurance policy that will offer some sort of coverage for a situation like this.. ? blessings and thanks to you who may have some answers to this. (please no nasties, i have enough problems and will report you.) thanks to all you good people who have cared. i am not looking for or expecting to make money on this. i have two mortgages out on the house which i can not afford to pay as the house is not habitable and i dont know how much it is going to cost me to live elsewhere. i am a senior citizen who was about to put the house on the market anyway in a few more weeks when the fire happened, i had just got done doing some nice cosmetic work, was waiting to have the rugs cleaned and a cleanout man to come take unneeded extras out... then an accidental fire caused by a refrigerator (compressor) fridge was only 8 years old. the house is still standing, and boarded up and winterized w all utilities off. no one can get in unless i let them in. i cannot rehab, the actual cash value will go to the first mortgage holder and some to the second, if i sell for a nominal fee for just the land, the 2 proceeds (sale of house and acv payoff) hopefully will just cover what i owe plus attorney fees... i would consider that a blessing but prospective b

Very few - if any - insurance companies will insure a total loss house. The structure is an "attractive nuisance". Meaning, it will attract children who could get hurt and you will get sued. If you do not want to rebuild the structure, then you need to bull doze the house and clear the lot. Then you sell the lot and the new owner can build the home of their choice.