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November 13, 2008

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Is this a violation of the law?

November 12, 2008
clarky2213 asked:


I work for a mortgage broker in Missouri. We are not lisenced in any other states, including Illinois. When we are contacted by customers in Illinois we submit the loan to the lender in another companies name. We have designated phone lines and email accounts for our “Illinois” company. I am concerned that I may be committing wire fraud if I continue originating these loans. If anyone has any information regarding this please share. Thanks.


How much time does it usually take in Missouri for foreclosure?

November 12, 2008


insanemom3 asked:


We are filing for bankruptcy in order to relocate for my husband’s job. It’s going to take at least another month for us to find a place to live and have the money for deposits, etc. The mortgage co. called today and said they are referring it to their foreclosure dept. as of tomorrow. We still have to come up with the filing fee for the bankruptcy as well. We cannot sell the house outright because we are upside down in it. Does anyone have experience with this and can give me an idea of a timeline? If we have to leave before we are able to get the money, we will be living on a campground and I really would not like to do that with three kids.