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Can one person in a family trust borrow mortgage funds in their own name?
Wiki User
∙ 12y ago
You need to review the provisions of the trust to determine how it operates.
Wiki User
∙ 12y ago
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What is an example of an open-ended mortgage loan?
Open-end mortgages permit the borrower to go back to the lender and borrow more money up to a certain limit and if certain conditions have been met. The additional funds are loaned at the interest rate of the original mortgage.A similar type mortgage would be an equity credit line mortgage.Open-end mortgages permit the borrower to go back to the lender and borrow more money up to a certain limit and if certain conditions have been met. The additional funds are loaned at the interest rate of the original mortgage.A similar type mortgage would be an equity credit line mortgage.Open-end mortgages permit the borrower to go back to the lender and borrow more money up to a certain limit and if certain conditions have been met. The additional funds are loaned at the interest rate of the original mortgage.A similar type mortgage would be an equity credit line mortgage.Open-end mortgages permit the borrower to go back to the lender and borrow more money up to a certain limit and if certain conditions have been met. The additional funds are loaned at the interest rate of the original mortgage.A similar type mortgage would be an equity credit line mortgage.
What is the borrowing power of the president?
Concurrent powers give the power to borrow money.
Can you borrow monies from mutual funds?
No. You can sometimes borrow money from a 401k or other retirement plan, but not from a regular mutual fund account. To get money out of mutual funds, you do a redemption.
What happen your mortgage if you lost your incame?
If you have mortgage insurance that covers the reason of your income loss (disability, involuntary unemployment) then the insurance company will pay the premiums according to your policy's benefits schedule. If you don't have mortgage insurance, you can use savings, retirement funds, borrow money, or you can try to negociate your mortgage terms with your lender. Unfortunately, many mortgage clients believe they don't need mortgage insurance and they find themselves forced to file for bankruptcy and lose their home if something happens. The PMI (private mortgage insurance) will protect your mortgage payments and help you keep your home!
Who gets the money to pay off first mortgage at closing?
The funds from the new mortgage are advanced to your solicitor who pays out the current first mortgage.
What provides the funds needed for expenses such as property taxes homeowners insurance mortgage insurance?
Which of these provides the funds needed for expenses such as property taxes, homeowners insurance, mortgage insurance, etc.?
Can you borrow funds against money owed to you that is secured by a life insurance policy on the life of the person who owes you the money?
Absolutely not, you can only make a legitimate loan through a bank
How does an AARP Reverse Mortgage Calculator help seniors?
An AARP Reverse Mortgage Calculator helps seniors estimate how much they could potentially borrow through a reverse mortgage loan based on factors like age, home value, and current interest rates. It provides a rough idea of the funds they may be eligible to access as a financial resource for retirement planning.
Can an executor allow a house to be foreclosed on if there is no money in the estate to pay monthly mortgage?
Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.
What can you use your reverse mortgage proceeds for?
Anything you want. There are no restrictions on how you use your funds.
Is the payment you receive from a reverse mortgage taxable?
No, the money is considered borrowed funds, so no income tax is due on the funds. Liberty-ReverseMortgage.com specializes in Reverse Mortgage Loans. If you are looking for any How Reverse Mortgage works, its pros and cons or guidelines, call (888) 202-4479
What is the difference between wholesale and retail mortgage?
A wholesale mortgage is done through a broker who then originates it with the bank that funds the loan. A retail mortgage is originated directly with the bank that will fund the transaction.
