What steps do you need to take to convert into securities mortgage debt you underwrite?
105001
Im only answering this question so the person above me can get credit for their answer.\n :)
786217
You should try contact your lender for payment options.  Or, find a lender that will buy your debt and offer a lower payment option
246277
Either go to a lawyer or there are some really good software programs that lead you through it step by step.  Unless you are ROLLING in money, it is easy enough to do yourself.
621909
go to the SEC website
1039921
I am a mtg broker. I would do a fixed HELOC and combine all your debt into it. If you pay all your debt separate, you are paying interest on the cars, credit cards, etc which are NOT tax deductible. Your mtg debt is. \n\nCongrats on having your home free and clear!
520061
Start with calling your broker ... he'll advise you about the rest.
606426
go to a bank and use it as your collateral tomake the loan secured
1107520
you should be able to get a mortgage as that is a secured loan
727067
High risk low reward.\n\nYou will have to draw up some hefty condominium documents (two or four owners can't be permitted to vote on much too many tie votes) to handle all of the day to day operations of the common elements owned by the association.\n\nYou would find better investments with larger complexes that will be easier to convert.
701323
sorry for your loss.  well, i'm not sure why you can't sell.  that really would be your best option.  even if things get back on track, you are "mortgage-payment poor".  you need to find something more inside your means.  hopefully you don't owe more on the house than its worth.  if you do, maybe bankruptcy is your option.  a chapter 13 allows you to setup trustee payments for the deficiency balance, and resume normal payments once a month.  that way you dont have to worry much about the past due amount.\n\nhave you tried refinancing?  there may be an option there.  if not, maybe you can talk with your mortgage company and setup a forebearance agreement (a payment plan BETTER than the one you have, that would help you get caught up).  do you have equity in your house to do a 2nd mortgage and consolidate any other debts you have?   maybe doing that would save money monthly from your budget.  i don't know, just some suggestions for you.  good luck... it will work out eventually.
33824
Should have posted this in the Finance area. LOL\n- I found this. Check this out: http://www.reversemortgage.org/
391715
Talk seriously with the company or loan agent.  Lay down your cards.  They will be happy to know that your are sincere and willing to pay under reconstruction basis.  It pays to be honest and pay your debts.  Most people I know are not responsible enough.  I am proud of you.  Goooooooooo. Boy.  They'll understand you.  Trust me.
480454
You would have to know what the rate is first.\n\nif the interste rate was 8.0% ( I am using US Funds)\n\n200,000.00 x 8% =16,000 x 25 = 250,000.00\n\nMortgage payments per month = $2,185.00\n\nCheck with a bank or mortgage company to get it converted if needed.\n\nIt is very important to know what rate you will be paying.
42498
If the short term debts have higher interest rates pay them off first. you'll get a lower rate on the mortgage.
299517
Go to a Mortgage Lender...they service loans to poor credit, although if it is too bad, they may want you to clean it up a bit before loaning to you anyway.  A loan that takes into account poor credit is going to at least double if not more the percentage rate of your mortgage.  When you go to look for your loan, be sure to watch for all of the hidden costs (that goes for ANY mortgage)...never sign anything until you have seen a Good Faith Estimate which will disclose any and all fees that are associated with your mortgage!  If you don't understand it, find someone who will help explain it to you....don't let the lender that is "offering" you the loan do the explaining...they can try to make everything sound "okay" and you can get yourself into a mortgage that you can't get out of.  Be Careful!!!   and Good Luck!!!
761113
First, pull out all your paperwork and read the fineprint VERY CLOSELY.  Often, buried with in the agreement, is an option to apply for a "deferement" or "forebarence" (which suspends your payments while you go through a hard time but interest still accrues).\nAlso, check for a "forgiveness" clause if you are unable to pay due to a major disability making it impossible for you to get work.\n\nNext, discuss Consolidation with your private loan agents, this would lessen the overall interest burden on you.\n\nIf you can not apply for a forebarence, consolidate or re-negotiate your payments, double check with a lawyer to make sure your private loan agencies are not giving you the shake down.\n\nIt can be dangerous to take out a loan to pay for a loan, but if you must, there is that option putting up a house or car for collateral.\n\nPerhaps family could lend you money (Make sure you have a signed contract with them even through they are family!).  Of course that is not an option for everyone.\n\nAlso, double check your budget to make sure that you are only spending what you need during times in your life when you are strapped for cash.
1140704
Warmspirt,\n\nI'm sorry but there are many misconceptions out there about reverse mortgages.  Many of them are listed by some of these replies.\n\nThere really is only one downside to taking out a reverse mortgage. The children are not left with 100% of the value of the home for an inheritance.  From my experience and my own personal view, most children would want their parents to live their life to the fullest and don't care if part of their inheritance is reduced.  It is YOUR home and you worked hard to pay for it.  You should enjoy the benefits of it.\n\nThe house is still in your name it just shows that there is a mortgage on the home like any other conventional mortgage. You can take the full amount in a lump sum, split it up in monthly payments or leave it in a line of credit which right now has a growth rate of about 7%.  With the line of credit you are only charged interest on what you pull out of the line of credit and that interest rate right now is right around 6.5%. The rest of the money sits there untouched until you need it. These loans are set up so that there should always be equity in the home to pass along to your heirs.  Also, you can repay the loan at anytime with no prepayment penalty.\n\nAll of this money is tax free and there are no monthly payments to make. You CAN make a payment if you want and are concerned about keeping the balance down. You even get a tax break if you pay back the interest you are being charged.\n\nThis is a much better option than a home equity loan which you have to make high monthly payments and if something happens and they get behind could lose their home.  With an FHA reverse mortgage there is NO way to ever lose your home or be foreclosed on.\n\nSo really the only downside to reverse mortgages is that the heirs wouldn't get 100% of the home value for your inheritance.\n\nI'd be happy to send you some more information if you would like. This is what I specialize in and our company can do reverses almost anywhere in the country. If you would like some more information please email me at bburns@griffinloans.com