Refinance Mortgage

because real estate agents need to disclose in advance that they are agents when purchasing their own from directly from seller. Is it same with mortgage brokers? In California?

If you hold a real estate license, being actively used of not, you must disclose it to the seller. If not, there is no law law that says you have to disclose you are in the lending industry.

I’ve been fortunate to regain employment and save for a downpayment on a home. If I did a short-sale on my previous home in October 2009, when it it likely I can qualify for a mortgage again.

I hope soon. You should talk to a loan officer because it really depends on your credit score. I heard that you can buy as soon as a year after short selling. Good for you that you have saved for a down payment. Buy soon because it’s a great time to buy.Good luck!

Is it possible for me to refinance my mortgage to purchase land for my son who would like to self-build a home for him (and his family) to live in.

If you have the equity, the credit score and the financial profile to support it, you can refinance your mortgage for anything you want to.

I want to sell my current home, but think I will get about $30 K under what I owe. Would I be able to take that amount, and roll it into the new mortgage on the loan of a new home?

No.

You could contact your mortgage lender and attempt to do a short sale, where they agree to accept less than what is owed, but this does damage your credit and is time consuming and a roll of the dice. Other than a short sale, you can wait the market out or bring cash to closing, you cannot carry over debt from one property to another.