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Mortgages

Using property (e.g. normally real estate) as collateral to obtain a loan that is paid by the borrower in installments.

500 Questions

Is there a picture of how big 5 acres are?

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An acre is equivalent to about 43,560 square feet, so 5 acres would be approximately 217,800 square feet. Visualizing this size can be difficult, but it's roughly the size of multiple football fields laid side by side or roughly the size of 5 square city blocks.

What does thoreau mean by saying that he must not pursue his own interests while sitting upon another mans shoulders.... i must get off him first?

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Thoreau means that he cannot prioritize his personal goals and desires while benefiting from the exploitation of another person. He must first rectify this inequity and stop taking advantage of others before pursuing his own interests. This statement likely reflects Thoreau's commitment to justice and fairness.

What is psychometric chart in humidification?

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A psychrometric chart is a graphical representation used to analyze the properties of air in relation to temperature, humidity, and other parameters. It helps visualize how these properties interact and impact processes like humidification. By using the chart, engineers and researchers can design and optimize systems for humidification based on the specific conditions of the air.

What zodiac sign has the lowest suicide rate?

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There is no conclusive evidence to suggest that any specific zodiac sign has a lower suicide rate than others. Suicide rates are influenced by various factors such as mental health, socioeconomic status, and access to resources, rather than zodiac signs.

What states require a survey for a mortgage loan?

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Some states require a survey for a mortgage loan as part of the closing process to confirm the property boundaries and identify any potential issues. Requirements vary by state and lender, so it's important to check with your specific state's laws and your lender's policies. Some common states that may require a survey include Texas, Florida, and New York.

What states require surveys for mortgage loan closings?

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Some states require surveys for mortgage loan closings, such as Texas, Florida, and New York. It is recommended to consult with a local real estate attorney or title company to determine the specific requirements in your state.

Does a GA Bank have to have an original copy of the recorded deed?

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In Georgia, a bank typically needs the original recorded deed to ensure that the property is properly transferred and that they have a valid security interest. Having the original document provides proof of ownership rights and protects the bank's interests in case of any disputes or legal issues. It is important for the bank to have the original copy for their records and legal compliance.

How do you evict a relative living in your house in Mississippi?

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To evict a relative living in your house in Mississippi, you must follow the formal eviction process. This involves providing written notice to the relative, filing for eviction through the court, attending a hearing, and obtaining a court order for the relative to vacate the premises. It is advisable to consult with an attorney to ensure that you follow all legal requirements.

Can a relative witness the promissory note?

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Yes, a relative can witness a promissory note as long as they are not a party to the agreement and do not have a financial interest in the transaction. However, it is generally recommended to choose a neutral third party as a witness to avoid any potential conflicts of interest or challenges to the validity of the document.

What law is broken when a mortgage company charges a late fee when the payment was received within the grace period?

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Charging a late fee when a payment is received within the grace period may breach the terms of the mortgage contract. If the contract states that payments made during the grace period are considered on time, then charging a late fee would violate that agreement. It would be advisable to review the terms and conditions of the mortgage contract to determine if the late fee charge is justified under the agreed terms.

Is it legal to require a satisfaction for an unrecorded mortgage?

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It depends on the laws in your specific jurisdiction. In some places, it may be legal to require a satisfaction for an unrecorded mortgage as a condition of the loan agreement, while in others it may not be enforceable. It is advisable to consult with a legal professional in your area for specific guidance on this matter.

Does a sheriffs deed of trust eliminate a 1st Senior Mortgage?

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No. The mortgage remains in first place as an encumbrance against the property.

No. The mortgage remains in first place as an encumbrance against the property.

No. The mortgage remains in first place as an encumbrance against the property.

No. The mortgage remains in first place as an encumbrance against the property.

Do you need a survey if no mortgage is required?

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If no mortgage is required, a survey may not be necessary unless there are other property boundaries, easements, or zoning issues that need to be identified. However, having a survey can still provide valuable information on the property's boundaries and features, which can be beneficial for future planning or potential legal matters.

Can you go to jail if you stop paying and don't return rent to own furniture?

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No, you cannot be arrested for not paying rent-to-own furniture. However, the rental company may take legal action and take you to court to recover the furniture or the outstanding payments. It is advisable to communicate with the rental company and try to find a resolution before legal action is taken.

Can you go to jail for keeping rent to own furniture in Texas?

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Yes, failing to make payments on rent-to-own furniture in Texas can lead to civil consequences (being sued, collections, credit damage) but not criminal penalties like jail time. However, if you deliberately and illegally sell or dispose of the furniture instead, that could potentially lead to criminal charges like theft or fraud which may result in jail time.

Is Joint Tenant the same as right of survivorship?

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Yes, joint tenancy and right of survivorship are closely related concepts. Joint tenancy refers to multiple owners holding equal shares of a property with a right of survivorship, meaning that when one owner passes away, their share automatically transfers to the surviving owner(s).

What are the laws regarding second mortgages?

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Second mortgages are loans taken out on a property that is already mortgaged. The laws regarding second mortgages vary by jurisdiction, but generally, they give the lender the right to foreclose on the property if the borrower defaults on the loan. It's important to carefully review the terms of the second mortgage agreement and understand the legal implications before proceeding.

How much is the average mortgage balance in the US?

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The median household income in the United States is $46,326.
When you break this down by 12 months, it wind up to $3,860/month

Answer: That's the average monthly salary, not the monthly mortgage payment! If you paid out your entire salary in a mortgage payment, you'd have nothing left for other expenses, like utilities and food.

How do you find your mortgage survey?

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To find your mortgage survey, you can request a copy from your mortgage lender or contact the surveyor who conducted the survey. You can also check with your county or local land records office as they may have a copy on file.

What is an environmental quality survey?

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An environmental quality survey is a method used to assess and evaluate the condition of an environment in terms of air, water, soil, and biodiversity. It typically involves gathering data on pollution levels, ecological health, and other indicators to determine the overall quality of the environment. The results of such surveys can help inform decision-making processes aimed at enhancing environmental protection and sustainability.

How does a Deed in Lieu Foreclosure affect Socia security benefits?

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A Deed in Lieu Foreclosure can impact Social Security benefits if the forgiven debt is reported as income, potentially increasing the recipient's income and affecting benefit eligibility. It is important to consult with a tax professional to understand the implications on Social Security benefits.

What is the redemption period for Kansas?

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In Kansas, the redemption period after a tax sale is typically 3 years for agricultural land and 2 years for other types of property. This allows the property owner the opportunity to reclaim the property by paying the delinquent taxes, interest, and penalties within that time frame.

What states have the statutory right of redemption after foreclosure?

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Several states have statutory rights of redemption after foreclosure, including Alabama, Connecticut, Delaware, Iowa, Minnesota, Mississippi, Missouri, Tennessee, and Wisconsin. These states allow homeowners a period of time after foreclosure to buy back their property by paying the outstanding mortgage debt.

Are deficiency judgments allowed in Minnesota after foreclosure?

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Yes, deficiency judgments are allowed in Minnesota after foreclosure. Lenders can pursue borrowers for the remaining loan balance if the proceeds from the foreclosure sale are not sufficient to cover the debt owed. However, there are limitations on when and how deficiency judgments can be pursued.

What is the summary of judgment and foreclosure sale date in Florida?

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In Florida, a judgment is a court ruling that confirms a debt owed by a party. A foreclosure sale date is set when a property owner fails to repay a mortgage, and the lender seeks to sell the property to recover the debt. This process allows the lender to auction the property to the highest bidder in order to satisfy the outstanding mortgage debt.