What is average mortgage for American home owners?

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average mortgage is $225,000.00 with payments of $1780.00 principal & interest for a period of 30 years.
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What does the average American pet owner spent their money on?

What Pet Owners Buy . Dog food, doggie snacks, and doggie toys in that order, with the occasional additional expense for the vet visits for inoculations and check-ups, and then finally, for a dog license annually. That's how I spend my money on my dog. Can't tell you much about cats or other pe (MORE)

When refinancing a home does the new mortgage have to be in both names of owners?

Answer . That is the decision of the lending institution, but it would be very unusual for a lender to not insist on all title holders being a party of the refinancing.. Complications can arise when there is a difference in the persons who are named on the property deed and those on the mortgag (MORE)

What happens to the mortgage if a house does not sell and you lose home owners insurance?

You still owe the mortgage. And you must continue to maintain the homeowners insurance. If not, the lender who holds the mortgage has the right to place "forced coverage" on the property at great expense to you. When they add "forced coverage" they simply increase your mortgage payment to adjust for (MORE)

If a mortgage is paid off is home owners insurance required?

Generally no. Homeowners insurance may be required by any creditor for whom your home has been put up as collateral on a debt. If there are no liens on your home there is no one requiring you insure it.. That said, it is highly risky, financially, to fail to allow a home to be uninsured for even a (MORE)

What is the average cost of the existing home mortgages in America today?

The average cost of an existing home mortgage depends on several items.. Interest Rate. Closing Cost. Length of mortgage or term of mortgage. The amount of the mortgage.. If you can provide more details to the question I will provide you with a complete answer.. I have one question for you. Ar (MORE)

Is a home mortgage covered and paid in a basic home owners insurance in the even of death?

No. To cover mortgage debt an insurance company can write a life insurance policy on the mortgage holder/s. This policy usually is a term life insurance policy that in the event of death pays the balance due on the mortgage at the time of death. The term of the policy would be the length of the mort (MORE)

If your home owners insurance is part of your mortgage payment and you stop paying your mortgage what happens to your insurance coverage?

Once you have defaulted on your mortgage or have gone into foreclosure all your rights on the homeowners policy are null and void. all rights of recovery revert to the Mortgage company. . Basically you become uninsured and the mortgage company remains insured through the policy term. . Also if the (MORE)

What If the home owner dies does the property owner's heirs have to pay the mortgage?

The estate must be probated in order for title to the property to pass to the heirs legally. That's the first step that must be taken so that someone will have the legal authority to deal with the bank. Someone must pay the mortgage or the bank will take possession of the property by foreclosure. Yo (MORE)

My name is on deed but not on the mortgage. The other owners passed away. Who owns the home?

If you owned the property with "them" as joint tenants with the right of survivorship the property bypassed probate and became your sole property when they died but it may be subject to the mortgage. Mortgages by less than all of the joint tenants who own real property together are treated differe (MORE)

What percentage of Americans own their home property and do not have mortgages?

According to the article in the related link one-third of Americans own their property and are mortgage free. That figure varies by location. The figures from the latest census are not available but that statistic probably remains stable since those are the people who seem to manage their finances w (MORE)

What is the average cost of home owners insurance in Michigan?

Like most places, the "average" cost of homeowners in Michigan is a rather meaningless number, unless you happened to live in a particular area of the state, and had a home whos coverage happened to be, right on the "average". To put it another way, if two people have the identical same home and fur (MORE)

What is the average cost of home owners insurance in your area?

Depending on your area, it will be different than mine or someone else's. Therefore, you should find your local newspaper or simply go to a insurance company. They often time give you their quote and the quotes of others. The average cost will be unique for each area.

What is the average age of a home owner?

The average age of a home owner purchasing their first home in this age is around 20's. The age used to be 30's, however, with less money needed for down payments the younger the housing buyers are getting.

Can a home owners association foreclose on a home in Florida without informing the mortgage company?

Foreclosure is a legal process whereby all interested parties are included, or the foreclosure procedure cannot be completed. If you believe that your association is foreclosing on your title, and you believe that your mortgage lender has not been informed, you can inform your lender, since the mo (MORE)

Does home owners insurance cover the mortgage if you die?

No. Homeowners insurance provides property and liability loss insurance. It is not life or disability insurance. You can purchase a term life insurance policy that decreases in coverage along with the mortgage balance on your home. You can even purchase a joint policy that would pay the house off wh (MORE)

How much on average does home owners insurance cost in California?

How much does the average home in California cost? These types of questions are impossible to answer and if I gave you and answer it would be useless to as well. There are eight different homeowners forms for different situations and so many different variables that homeowners policy premiums probab (MORE)

Does the bank sell a reverse mortgage home on owners death?

Yes, unless the mortgage is paid off by the heirs if they want to keep the property. Yes, unless the mortgage is paid off by the heirs if they want to keep the property. Yes, unless the mortgage is paid off by the heirs if they want to keep the property. Yes, unless the mortgage is paid off by th (MORE)

Do you need home owners insurnace after you pay off your mortgage?

You don't HAVE to cover your property with homeowners insurance once your home has not mortgage but you could lose everything if you had a fire or if someone was injured on your property. Some HOA's require some type of insurance on every property regardless of mortgage. Its not a wise decision to (MORE)

How many TVs does an average American home have?

The average American home has about 3 televisions. The number of televisions owned jumped from 1.57 in 1975 to 2.43 in 2000 as the internet began showing popularity. The number keeps growing in the 2000's but slowly.

How much does an average US home mortgage cost?

The average United States home mortgage will depend on the location, age and size of the house. In February 2013, the average house in the United States cost $152,000. As for the actual mortgage rate, that will depend on the length and type of mortgage one gets. On average, a 30 year fixed rate woul (MORE)

Can home owner associations hamper residents from doing a reverse mortgage?

There is no standard. Your mortgage lender or potential mortgage lender is best qualifiedto answer your question in your particular situation. Your answeralso depends on the type of common interest community where you ownreal estate: HOA, condominium or co-op. Recent federal rulings on behalf of Fr (MORE)