FHA REFI

[Anonymous]

Just got appraisal back from house and $30.0K short to do cashout refi to pay my mortgage off, solar loan and this judgement.

Mortgage broker saying I can do a streamline IA BUT judgement has to be dealt with.

My friend is helping me negotiate with judgement/atty.  now to show them there is no equity to pay of the liens ahead of them, my current mortgage and pay them.

As I posted before the original judgement was $13.0K (then they added in interest) for a balance of $24.0K.

Now am trying for $2.5K (because if I do streamline I have to cover closing costs of about $2.0K).

I had originally offered $5.0K but now can try to come up with $2.5K (balance goes to closing).

Why do i feel like they are not going to settle? 

I have an idiot on my loan and my deed and that is the main impetus to refi my house (to get rid of him-he's an alcoholic, pot smoking free loader) but of course is on my loan and deed.

feeling very defeated right now.

[StartingOver10]

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@Anonymous wrote:

Just got appraisal back from house and $30.0K short to do cashout refi to pay my mortgage off, solar loan and this judgement.

Mortgage broker saying I can do a streamline IA BUT judgement has to be dealt with.

My friend is helping me negotiate with judgement/atty.  now to show them there is no equity to pay of the liens ahead of them, my current mortgage and pay them.

As I posted before the original judgement was $13.0K (then they added in interest) for a balance of $24.0K.

Now am trying for $2.5K (because if I do streamline I have to cover closing costs of about $2.0K).

I had originally offered $5.0K but now can try to come up with $2.5K (balance goes to closing).

Why do i feel like they are not going to settle? 

I have an idiot on my loan and my deed and that is the main impetus to refi my house (to get rid of him-he's an alcoholic, pot smoking free loader) but of course is on my loan and deed.

feeling very defeated right now.

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Having an idiot on your deed is not a good thing - as I'm sure you know. But it is an entirely separate process to remove him/her (whoever) from the deed than a refi. This is something you can take care of outside of closing. Have you done that?  It may improve your chances of negotiating a lower amount on your judgment - maybe not, but it certainly will be better for piece of mind.  Don't do this yourself. Go to a good real estate attorney or a good title company.  It is an easy process, but there can be some errors if you aren't familiar with the process. I see it fairly frequently where the QC was filed incorrectly because no one used a real estate attorney nor a title company.

[Anonymous]

The refi was to remove him from financial responsibility from my property (getting refinanced under my name only) at which time he would sign a quitclaim deed ....he won't sign quitclaim without being off the loan.

That is where I am stuck.

And then this ex employer (who is the judgement lien) is a total jerk.  This has been sitting since 2009 (there is nothing to collect) until of course now I try to refi my house-I didn't even recall this until it reared its ugly head when they ran title. 

If no judgement I would have been ok to do fha streamline (it is now the judgement that is hindering everything). 

Unless they settle for what I can pay them (even $2500 is a stretch) I can't refi and can't get rid of this asshold ex boyfriend.  he is a digusting piece of trash.

I was even considering walking away from my house just to be away from hiim.

[Anonymous]

Do you mean a partition action?

It is SUPER expensive to do (hire an attorney). I spoke to one atty and her retainer was $10.0K to start.

The idiot will leave if I get him off the loan.

From my mortgage broker this am:

Our other option would be to go FHA streamline so we don’t take any equity out and we don’t count the solar or the debts against you BUT the judgement would have to be paid by you out of pocket by again…either paying  it off with money from a 401K or savings account prior to loan funding.