Unfortunately my home was foreclosed and I tought, the 1st and 2nd mortgage disappears and the procces will ended. But suddenly I started receiving calls from the bank lender of the 2nd mortgage. They said I still owed them even if the home was foreclosed and if I didn’t pay them, they will reported to [...]

in order to avoid a foreclosure…Is this wise? or should I do a loan modification…what’s best DO NOT REFINANCE! if your having trouble with your mortgage you can modify your loan to put yourself in a better position. In this market it’s incredibly hard to refinance not to mention it’ll be really pricey to pay [...]

As a previous person mentioned, you can deduct the interest on a second home (house, houseboat, camper- anything that you can live in) with a $1,000,000 limit on the principal owed. e.g. Assuming interest rates are equal, if the mortgage on your first home is $800,000, you can only deduct the amount of interest relating [...]

I want to rent my house out and buy a new home. Will I be able to get a mortgage on the new home? Yes, of course, most adults over 40 or so have multiple mortgages. There is nothing at all unusual about that. Obtaining 2-4 is easy, after that it gets tougher. addthis_url = [...]