mandy asked:


My friend foreclosed his primary home. He lived there for 2 years.
He also had a second home which he has owned for last 5 years. He had rented out his second home for last 2 years and now he moved to his second home. so technically has has stayed in his second house for 3 years in last five years. Would this be counted as his primary residence now, once he is living there for the Mortgage Forgiveness Debt Relief Act of 2007.

I assume the first house also qualified for Mortgage Forgiveness Debt Relief Act of 2007.
Isn’t the definition of a primary residence that you have to live in it for 2 out of last 5 years. Why would that be considered as an investment property. My friend did not do this at the same time. There was a gap of 6 months between both foreclosures.

Andrea

ronidl76 asked:


Is it a good idea? I just sell my home, and over the next year, I 'm going to work on fixing my credit. ¿(No mortgage or rent to family life) how to do this type places really helps you to increase your credit while paying off debt? How much does it cost, cause I know they're not doing it for free.

Victor

toolate asked:


? get approved for 270,000 but the broker said that due to our account qualify for the pr? stam but the payment of government be? during 2000. did not ask? but that if we pay our debt pr week? xima (est disease? operate on money owed) cu then? nt long must we wait before we apply? esper? bamos try and get a mortgage that is not? anything between 1800-1950 m? s. ? Too? N all runners attempting the same pr? Stamos in other owrds should try a different broker or your broker is not ONLY our own? ? C? Mo brokers operate? ? compared with all the same? as or different?

Kelly

ROMEPOWER asked:


What homeowners qualifies for this Law?
What kind mortgages?
Year of foreclosure? 2007 and beyond?
1st and 2nd Mortgages?
How this relate to the Deficient Judment law in Arizona?

Barbara

scooby199 asked:


I heard there is a 2 year minimum for number of years property is owned in order to qualify for this relief. Is this true?

Alice

lilmisssassy_48125 asked:


How much also does it effect trying to get a mortgage?

Kansieo.com

JP asked:


Hi - I am considering entering into a short sale of my townhouse, but I was wondering if anyone can advise me on if whether or not the Mortgage Forgiveness Debt Relief Act 2007, applies to the difference between what I purchased the townhouse for in 2006 and what it will ultimately sell for (much lower) in 2008? Thank you in advance!

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