I purchased a home 18 mos. ago. I financed using ma's credit-mine is BAD, my $- I believe income undisclosed. Loan under ma's name- deed states we are joint tenants w/right of survivorship or something like that. I have an 80/20 loan w/rates of 12.5 and 8%. I've made all pmts with my ckg acct, had 2 late pmts <20days ea. on the larger loan.
I live in cook county, il, my taxes went up 138% (sr exempt prev yr) I will be slammed with the taxes for last yr + proj taxes for nxt yr on Jan 1-my lg mtg will double! I don't want to lose my home, what options do I have? Mom turned 65 in Feb this yr. I am on disability from work rt now, but sufficient income to make pmt before increase. Can the loans be combined or something w/lower interest? What about this PMI thing when do they stop charging it? PLEASE HELP!
2007-12-02 08:08:49 · 1 answers · asked by mattysmom 1 in Business & Finance ➔ Personal Finance
since you have only owne the home for 18 months unless the value of the house has really increase you will be a one big bind -- i would check and see i the value of the house has really risen in yes -- you migh be able to refin and combine both loans!!! good luck!!!
2007-12-06 07:25:40 · answer #1 · answered by Anonymous · 0⤊ 0⤋