The easy answer is that football is a winter sport, so it's played with seasons starting in early autumn and ending in late spring, with a summer break. But as it's played in both hemi-spheres theres always pro-footballing taking place somewhere.The complicated answer is that theres no general rule,…
No. Home equity loans are revolving credit lines. In simple terms,
that means you could pay on that for three years and not even touch
the principal. I wouldn't do it. Maybe rolling it into a
consolidation loan if you have enough equity in your home, but not
No. You want…
I don't think getting paid on commission will present as much of an obstacle as the fact that your husband has only held his current job for 3 months so far. Banks and mortgage companies usually prefer you've held a job for about two years if I recall correctly. I don't know what his past work histo…
All of the title insurance underwriter as well as many many title agencies have websites that can direct you to a local agency in your state/county/community.Simply keyword into your web browser: title insurance search, title insurance, or title insurance companies. Many title insurance underwriters…
Renting vs. Buying
Is renting cheaper? No. Given the same house it will almost always be cheaper to own than to rent. Here is why: Somebody owns that house. And there is probably a mortgage on it. Let's say the mortgage payment is $500. If I owned it and rented it to you I would not charge your $50…
Absolutely! And this is something I would certainly consider! To do
this, you will need to contact your Local Public Housing Agency -
the related link provides contact information for all states.
Section 8 tenants tend to keep their house for a long time, not
move in and out so quickly. There are …
Deductions for Rental Property
Here are opinions and advice from FAQ Farmers:
It depends. This is from Tax Topic 505 at IRS.gov: "Your main home is where you live most of the time. It can be a house, cooperative apartment, condominium, mobile home, house trailer, or houseboat that has slee…
That's simply called ... drum roll, please ... "the closing."
Sometimes it's called a "complimentary closing."
Good luck with your letters.
It could also be called the valediction.
Well, not every one can get a copy of your credit report. Only people related toLegitimate business need to access your credit report.
You may be able to lower your cost of credit by consolidating your debt through a second mortgage or a home equity line of credit. Think carefully before taking this on. These loans require your home as collateral. If you can't make the payments — or if the payments are late — you could…
Refinacing After Debt
Paying off debt will help you get a lower rate when refinancing. Keep in mind though that even after you have cleared up debts, they still remain on your credit report for a period of time (varies by state I believe). The sooner you can get them cleared up the better i…
The Annual Percentage Rate (APR) is a measure of the cost of credit, expressed as a yearly rate. It must be disclosed before you become obligated on the account and on your account statements.
The issuer also must disclose the "periodic rate" -- the rate applied to your outstanding…
In a Chapter 7 case, one can normally reopen a bankruptcy to add a creditor as long as the debt was incurred before the bankruptcy case was filed and the debtor simply forgot to list the creditor on his or her petition. The court charges a filing fee of $155 to reopen a case and a $26 amendment fee …
Yes. Married people can file individually. The marriage actually has nothing to do with it though.If you filed, no matter what, you can't file chapter 7 again for 8 years, provided you received a discharge. He can file anytime he wants.If you have any joint debt, you may want to consider Chapter 13.…
It depends on what the civil judgment was for. For example, judgments for medical or credit card collections may normally be discharged by any chapter of bankruptcy. But, if for example the civil judgment was for damages caused from drinking and driving, or for an intentional tort, such as battery o…
It depends. If you have something to hide, then I would not file bankruptcy - it becomes a Federal Crime.Most of the time Trustees will ask to see any and all bank statements for a few months (normally 3) up to the date of filing. They may ask some questions related to how you spend you cash, and ma…
You need your Bankruptcy Chapter 7 to be discharged first before getting a loan to buy a house. Most lenders require two to four years of re-established credit before they will consider making you a loan. However, many lending sources are competing today to make loans to borrowers with …
That depends on how high an interest rate you are willing to pay. How much cash you can put down, issues of that nature. The general rule 18-24 months after your bankruptcy has been discharged. Some lenders will see you as a better risk, because you will be more or less "debt free."
There are ma…
If you have several jobs, most likely the ones that will be considered are the ones you can prove that you have held for a year or more. This includes part time, moonlighting jobs if you wish to have that income considered. Keep a good file with paystubs, award letters and so on. If you …
Banks can foreclose in as short as 90 calendar days.
The answer depends on your life goals and style. But, in general, a
3 bedroom, 2 bath will be easier to resell.
Single? Middle-aged and childless? Retiring and traveling? For a
place to live, close to jobs, family, and entertainment venues, a
small, well-located condo may be the best answer. The a…
Try this: "THE FIRST TIME HOMEBUYER BOOK" - written by a professional working agent and really informative! Maybe one or more of these interesting books might help make the whole homebuying ordeal a little less stressful. The 106 Mortgage Secrets All Homebuyers Must Learn - But Lenders Don't Tellb…
Usually closing cost will include origination fees, discount points, lenders fees, escrow fees, credit report cost, title insurance fees, title search fees, flood certificate, notary fees. Other closing costs include title insurance, courier fees, wire fees, and mortgage and deed taxes as well as re…
Buying a home can be a daunting experience. Here is some advice from Answers.com contributors on what to ask/do during home showings:
You can ask whatever you want, but they don't necessarily have to tell you the truth. Open Houses are a great way to see a house, not a great way to get info on it. …
It depends what law are in your state. It could be common law marriage, but you might want to consult a lawyer about it.
Division of a joint propertyThe answer may be in the deed. Two names? Two owners. Whether they are related by law, or have a contractual understanding between themselves, i…
Not all cash. You have to pay some cash to buy any home (the down payment). Therefore you buy it the same way you would buy any house.
Yes, for the most part, you will have to have some qualifying element.
If they've cosigned for the mortgage, yes.The only time a partner (husband/wife, usually) doesn't need to be there is if the mortgage and title papers are all in one person's name.
The only people who really need to be at a re-fi is the lender's attorney and your attorney-in-fact (somebody …
All sorts of lenders offer mortgages for as little as 3% down. It depends on what you qualify for, and what kind of financing you want to accept (MI, second mortgage, etc.)Ask around.
Do a little research. We've bought homes with NO downpayment.Yes, it really is possible.But for most people, …
Seller's Concessions or seller contributions are the amount or percentage of closing costs that the seller agrees to pay from his or her proceeds. This amount should already be included in the contract. If you need any further help with this feel free to call my office (214)607-1445.
Yes you can. But when you refinance your 2nd mortgage you have to inform your 1st lender and 2nd lender both.
Home equity line is a line of revolving credit with an adjustable
interest rate whereas a home equity loan is a one time lump-sum
loan, often with a fixed interest rate. Home equity loans come in
two types: closed end and open end. Both are usually referred to as
second mortgages, because they are s…
Co-Op Equity Lines of Credit
Before applying for a home equity loan, check with each lender to find out what their Loan To Value Ratio (LTVR) is, depending upon how much equity you have in your co-op this will have a big impact on what you can qualify for.
Often this is easiest if you go to the bank or credit union where
you have your mortgage. You can check with others, but there may be
an application fee as well as costs for the appraisal, depending on
the amount of the loan you are seeking.
I am assuming this was a cash-out refinance. On a refinance the money is usually funded within 3 days of the closing. It sounds to me that your lender is taking you for a ride. Did he send you a good faith estimate showing you that you would be receiving 17,000? Also at the clo…
Home Equity Lines of CreditA home equity line of credit is a form of revolving credit in which your home serves as collateral. Because the home is likely to be a consumer's largest asset, many homeowners use their line of credit only for major items such as education, home improvements, or medical b…
Home equity loan refinancing means paying off an existing mortgage with the proceeds from a new loan, using the same property as collateral. It is a second mortgage. It is important to note that you may be subject to the same costs you paid to get your original mortgage, including settlement costs,…
Mortgage loans and home equity loans are two different types of
loans you can take out on your home. A first mortgage is the
original loan that you take out to purchase your home. Second
mortgage means cover a part of buying of your home or to cash out
some of the equity of your home. It is importan…
If you are considering refinancing your home loan, you'll find that the process reminds you of what you went through in obtaining the original mortgage. That's because, in reality, refinancing a mortgage is simply taking out a new mortgage. You will encounter many of the same procedures, and the sam…
The fees described below are the charges that you are most likely to encounter when refinancing.
Application Fee. This charge imposed by your lender covers the initial costs of processing your loan refinance request and checking your credit report.
Title Search and Title Insurance. This …
If you're refinancing your mortgage or applying for a home equity installment loan, you should know about the Home Ownership and Equity Protection Act of 1994, especially if you have bad credit and are considering a high-rate, high-fee loan. This law addresses certain deceptive and unfair practices…
Beware of this situation: You can't pay your mortgage and face foreclosure. A "lender" contacts you, offering help. First, the lender requires you deed the property to him, claiming this is a temporary safety measure to prevent foreclosure. Once the lender has the deed, he …
Watch out for this situation: A contractor offers to do some work on your home, saying he can also arrange the financing through a lender. Once you agree, the contractor begins work. The lender then appears with papers to sign. He may rush you into signing a document before you have tim…
In deciding whether to refinance an adjustable rate mortgage (ARM) you should consider these
Is the next interest rate adjustment on your existing loan likely to increase your monthly payments substantially? Will the new interest rate be two or three percentage points …
Yes you can just keep on refinancing until you have reached the maximum of your home's fair market value. The fees will add up to a huge amount and you will never get out of debt. There will come a time when you default on your payments and the bank will take your home by foreclosure.
Yes, you can refinance a home that is listed for sale.
I, like many, have refinanced property/homes that are either for sale and even those with sale contracts on them.Not only can you use the more normal types of finance, including lines of credit, etc., but the class (or t…
Many people who have filed bankruptcy know little about the process. Often times debtors are unaware of their options in a chapter 13 because they rely on their attorney; their attorney has a fiduciary relationship with the debtor. A bankruptcy attorney's job is to know bankruptcy law, not the mortg…
How Soon You Can Refinance
You can refinance as soon as a lender is willing to offer you a loan. The guidelines that lenders follow change almost daily. Most banks require seasoning of at least 12 months before you can refinance a mortgage.
Here is more input:
I am a Realtor, and I have researc…
You can change your mind anytime, you aren't under contract to do a refinance with any lender. You can walk out at the closing if you feel like it, never let anyone pressure you to sign for a loan you know is bad or even have a bad feeling about.As a footnote most states have what's called 3 days of…
... this article explains what you probably need to know. There seems to be a federal minimum rate (which varies by the amount and term of the loan), which must be charged before it's considered a gift. There may be a way around it, however.
In a word, yes. But maybe not at the best rates. I refianced 2 years ago to get some cash to pay off credit cards, do some home improvement, etc. But the rate I got then was 10.3% and it's an ARM. So, I'm now trying to refiance and get a lower rate, but what I'm finding is that since …
I am a Realtor in Texas. I have worked with many buyers and they all have different preferences in this area. It always seems to hinge on how much cash you can afford (or want) to come up with at closing.Ideally, I believe it is best to pay the closing costs up front, rather than wrap them into the …
Absolutely! 2yrs after you discharge a chapter 7 BK, you are eligible to refinance with many "sub-prime" lenders, who lend money to people in your particular situation.The best thing for you to do is contact a mortgage broker, like myself, who can research what program would fit your financial situa…
Yes, but the holder of the second has to agree to it. Its called subordination. Normally when a first mortgage is paid off the second moves into the first position unless the holder agrees to "subordinate" the second.
Yes, you can leave the second alone but the second mortgage …
I presume owner carry homes are kind of apartments so you can get equity line of credit .
FHA will not penalize you. Find a FHA approved lender in your area and as long as your payment history in your chapter 13 was good, they should be able to help you. You must go through the court and trustee. They must approve your new debt. It must make a lower rate, payment etc.).You can also buyou…
Refinancing after a bankruptcyThe time period you have to wait depends on what chapter bankruptcy you filed.Generally, you are able to refinance 2yrs after a Chapter 7 discharge.If you are in Chapter 13, you can refinance the next day with many lenders. You can email a mortgage broker like myself to…
Yes, if you have used any of the credit available to you. For example, if you have used $10,000 of a $20,000 line of credit then you have to add that $10K to the balance of the total owed on the property.
A Home Equity loan is an additional loan from your first and second
mortgage. It does not require a refinance process. However,
consider if you want to saddle your home with any more debt, given
that you may not have much equity. If you are paying PMI, it may
also change that position.
When refinancing with a lender whether or not you use a mortgage broker, you should have all information about the proposed loan disclosed to you in writing in advance of signing or paying for anything. Compare apples to apples by comparing loans with the same term, and amount. Look at the interest …
I have been a mortgage originator for over 10 years and I am not aware that any such law exists.
Different lenders have their own criteria but most would allow a refinance if the property has recently been listed for sale. They would merely require proof that it is no longer on the …
It depends. If say you only owe $6000 on your entire mortgage and plan to live there the rest of your life-payments are under say $300 a month, I probably would NOT pay it off. There are some tax advantages of course if you can deduct interest as long as you can.
On the other hand, if…
Most lenders would like to see you season the loan you have for 6 to 12 months however there are others that do not but the rates are or can be higher.The most importaint thing in doing a secound is credit score [middle]. With 800 I can almost do anything.Also the Loan to Value [ the percentage of t…
How long do you have to wait to refinance?? Ok this all depends on a couple of items. First did your loan have a prepayment penality??. If so I would recommend you wait until that period of time is over. Call you lender and ask. If you do not have a prepayment penality. Know that most loans have at …
You can get a home equity loan immediately. In fact, some lenders are packaging home equity loans or credit lines as a combo with the closing on the first mortgage.Of course, to get a home equity loan you have to have some home equity...i.e. a market value greater than the first mortgage.
Equity is the value of your home less the amount owed on the mortgage. A home equity loan is a loan secured by the equity in your home. Your lender will use an assessment to decide your home's value and the amount of equity available to abstract. If the available equity exceeds your mortgage balance…
This may apply to escrow accounts for taxes. When a new home owner initially purchases a house the lender may require that an escrow or impound account be set up for taxes and insurance. The borrower pays monthly into the account. When the loan is refinanced, the home owner may have t…
Yes, you can obtain a home equity loan or line of credit through the Bank of New York. They also offer mortgage loans on cooperatives.
Yes, you can obtain a home equity loan or a line of credit on co-ops through the Bank of NY.
It's true that Bank of New York offers home equity loans or l…
Generally mortgage can be refinanced but only if you are looking to reduce mortgage payments, as it can be done at lower interest rate. Actually if you want to make a multiple refinance then it will definitely reduce your overall financial profit. Penalty checking is the major factor in mortgage ref…
You may write off up to 100,000 dollars. Also, the interest expenses you pay on a home equity loan may be deductible no matter what you use the money for. The deduction can save you money on your taxes on your return as long as you itemize your deductions on Schedule A of Form 1040. If you claim you…
Yes you may, in a refinance your HELOC could be paid off the same way as any other type of debt such as a credit card. The same goes for a second mortgage, as long as you have built enough equity in your property you can refinance and pay off the 2nd mortgage and leave yourself with just one mortgag…
This is possible. When you do a Chapter 13 refi you are ususally refinancing your 1st, 2nd, etc, liens on you title and the outstanding debts held by your trustee. So if on your your charge sheet is a debtor lets say his name is XYZ you pay him off and everyone else on your list this takes you out o…
Just because you can get the loan, you may want to consider paying
off the debts in another way so that you do not increase the burden
of debt on the home beyond what it is worth. Keep in mind that in a
new subdivision, the new homes are going to be worth more than your
"used" home, regardless of th…
Most banks require seasoning of atleast 12 months before you can refinance a mortgage. Though I work with banks that will do a refinance even 1 day after funding.As a footnote most states have what's called 3 days of rescission. Your broker is supposed to explain this to you. Basically you are allow…
Generally, your best bet is to contact a wholesale mortage broker, who has access to several lenders to refinance you. If you have a decent amount of equity in your home, your situation will be more lendable.
Banks do not refi chapter 13 they are for the most part l…
who is selling it and why? Is it being foreclosed? If so... you can find another family member or something to buy the home, try and refinance it , or try to catch up on deliquent bills with the mortgagee.
If it is in foreclosure you can file a chapter 13. It will st…
Yes it is, depending on the state.
Let me answer the question this way: the addition of somebody with low credit can't help a mortgage application, and may kill it. A lot depends on the mortgage being applied for (all mortgages have, as a criteria for acceptance, a range of acceptable credit scores) and how low, in fact, the spouse's…
You cannot refinance a mortgage if you don't already have a mortgage, so how did you get a mortgage if you are an illegal immigrant with no social security number?
You should attain legal status first.
All you have to do is submit a request to refinance to the trustee. The lawyer stands nothing to gain. They would rather you refinance because they know they will get their money.
No, unfortunately you can not get a home equity to pay off your bankruptcy but there are other alternatives to pull yourself out off that situation and give yourself some financial room to breathe. Check with a certified credit counseling agency to get the best advice. In general if you can, reduce …
No you can not get a home equity line of credit but you can refinance and pay off the chapter 13 with the new mortgage.
This is a difficult question to answer in a paragraph. Assuming that you are talking about an interest only loan. The benefit is that it gives you much more control of your monthly housing expense. An ARM will change periodically depending on the type of loan however LIBOR loans are base…
Debts of a Spouse
No, you do not become responsible for debts incurred before marriage. However, debts incurred during the marriage are "marital debts" and subject to an assignment of responsibility by a divorce court, unless otherwise specified in a prenuptial agreement. However, the creditors g…
If, he will go away, then do it the way below. Otherwise, remove yourself for the safety of your child. The other stuff will resolve over time.
Call the police and have him arrested for assault and battery. Call protective services and notify them of your endangerment and they will come and…
1) Review all the return, refund, shipping and handling policies as well as the some other legal terms. If you cannot find them, ask the seller either through an e-mail or telephone call to indicate where they are on the site or to provide them to you in writing. Â· 2) Check that the Internet conne…
Cash Flow ManagementThis is advice on cash flow management from the Federal Consumer Information Center and the Small Business Administration:Failure to properly manage cash flow is one of the leading causes of small business failures. Understanding the basics will help you with your cash flow manag…
The Co-op prospectus will list the manner in which shares are allocated to each apartment in the complex or building. The board of directors will or has decided on an operating annual budget by which to pay staff members, taxes, insurance, pay for fuel, repairs to common areas, and many other expens…
That depends on what other contractual arangements might have been made. The deed does prove ownership. However, in some states if you had a verbal agreement for repayment and your father can prove it, he can collect his money. And obviously if you have any agreement in writing concerning the proper…
He could, as long it was not seen as an attempt to keep property from creditors. If any legal action was imminent/pending against the spouse, it could be subjected to fraudlent conveyance charges by the court.
According to a recent news story by NPR, the average size of a new
American home is 2,349 square feet.
According to the US Census Bureau, the average size of a new US
home built in 2006 is 2,469 square feet.
If you mean number of people living in the house - 2 to 4 people
then the average square…
Especially in todays and the forseeable future credit environment, probably not. The previous answer was erased as commercial and out of Wiki guidelines; New mortgage, new debt? Well, real tough - not impossible. Especially with the concerns over subprime lending in todays market (which you by bei…
An Adjustable Rate Rider is a supplemental mortgage document related to your Mortgage Note. The Rider spells out the rules that determine how and when and by how much your variable interest rate changes. Only ARM loans, or adjustable rate mortgages, have an Adjustable Rate Rider. An interest only p…
After the Chapter 13 plan is approved, whether the rental is included in the proposed plan or not. Until then the trustee holds all your assets in the bankruptcy estate. Once the plan is approved, you become the "debtor in possession" and can manage your property as long as you don't try anything il…
A timeshare is a consumer debt. A mortgage is a document that pledges a piece of real estate to the bank in the event the loan is not repaid. When you buy a timeshare, you do not actually have any rights to the physical property, even after you've paid your loan and all associated fees. You have sim…
PO Box 961206Ft Worth TX 76161
If you already own the land much cheaper. But for a good sized arena with chutes for horses and cattle will probably run between $10,000 and $15,000. Maybe a little less if you can do some of the construction yourself.
An amortization table would give you the answer. If this is a real life situation and you are in the US you would be getting screwed at this rate of interest.
All together there were some 17,000 people employed in this industry (14,000 of whom were production workers).
You can sell as soon as you take title: immediately. You can actually sell it before you take title. It's called simultaneous closing. At title signing, the property would be signed over to your buyer instead of you. This may not work if you have purchased the house with a standard loan. There are u…