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Best options for borrowers facing payment problems

By Jack Guttentag, Sunday, August 10, 2008.

An uncomfortably large proportion of my mail these days is from borrowers with serious payment problems. In most cases, I can't help them for reasons discussed below. In a few common cases, I try.

In one common case, the borrower has two mortgages, which add to an amount well in excess of the value of the property, and can no longer afford both payments. If the same lender holds both mortgages, and if the borrower can afford a reduced payment, his objective should be to persuade the mortgage lender to modify the notes to lower the payments.  more...

Will shopping multiple lenders hurt credit?

By Dian Hymer, Sunday, August 10, 2008.

It's not uncommon for home buyers to talk with several mortgage brokers or lenders to compare loan products and interest rates. One buyer who shopped around was scolded by a mortgage broker when he found out she was talking to more than one broker. He told her that she was ruining her credit score by allowing multiple credit inquiries.

Too many credit inquiries can negatively affect your credit score, but you can control the damage. And, credit inquires make up a relatively small part of your credit score.  more...

Homeowners feel title office should pay for mistake

By Benny Kass, Sunday, August 10, 2008.

DEAR BENNY: We just bought a house in a community association and the title company handled all the fees and the settlement charges. We have been in the house for three months and we just got a $200 bill for an initiation fee for our association. The property manager told me that the title company should have called and asked about fees. Although we paid three months of fees in the settlement charges for the association, the title company never inquired about an initiation fee.  more...

Something to chat about Premium Content

By Alison Rogers, Sunday, August 10, 2008.

Two years ago (aw, c'mon guys, I swear I'm still a rookie) I wrote a column about hanging out on the Internet to gain customers. I expressed shock about how mean people could be when they could hide behind electronic identities, and I questioned why chat boards weren't a better place for lead generation.  more...