beach_babe971 asked:


i seen people start their business years ago and they are very successful….but how do you start lending out 100,000′s to thousands of people for buying properties?

im takling about “A” lenders. not sub prime lenders.
i know no one has millions and millions of dallors to lend out in california the average home is 500,000. so how do these businesses have 100,000 of customers. where does that money come from?
how do you get the money to have a mortgage company?

Reginald

Roxanne K asked:


My daughter and son in law have gone through chapter 7 bankruptcy in Oregon. They had a 1st and a 2nd mortgage (which was a home equity loan). There is an auction date set for the sale of their home, but their first mortgage company is giving them the opportunity to ‘save’ the home through a loan modification before it goes to auction. My son-in-law has had recent employment and there is a slight chance they could stay in their home if the details are worked out. My question is this; can the 2nd mortgage (home equity-different lender) come back and lien the house? Or worse yet, foreclose even though the 2nd was discharged during bankruptcy? My daughter doesn’t want to bother with modifying the 1st if there’s a big chance of the reviving the 2nd. This is in the state of Oregon, but maybe the laws are the same in all states.

Thanks for the input!

Agnes

Bobbi asked:


I have tried for over a year to get my loan modify. My mortgage company says my loan is to big to use the Obamas plan. Okay, why can’t the mortgage amount be lowered to the current market value, spread out over 40 years, with a lower interest rate? Sounds to good to be true, right, but this is what they are saying can be done and I just do not know of any success stories! I have been told about NACA. Does anyone know how to get to talk to a supervisor of that company? I know this is alot, but, if anyone has any information on how to save a home PLEASE let me know!

Lloyd