Do anti deficiency laws pertain to refinanced first mortgages?
According to the Anti Deficiency laws, anti deficiency laws applies to the refinanced first mortgage as long as the property is used as a primary residence of the purchaser.
I refinanced in the year 1998 and I need to have the first mortgage cancelled which is Fleet Mortgage Company. How do I contact the bank who acquired the mortgages from Fleet?
You are responsible for paying off mortgages you granted on your property. Any buyer would have the title examined, the mortgages would be disclosed and the proceeds of the sale would be used to pay off the mortgages before you get any surplus. If you want the buyer to take the property subject to the mortgages you must make arrangements with the bank IF it agrees to allow the assumption of the mortgages. Most lenders…
A type of mortgage where a second mortgage or home equity loan is taken out by a borrower at the same time the first mortgage is started or refinanced. Piggyback mortgages are frequently used to lower the loan-to-value ratio (LTV) of a first position mortgage to under 80%, thereby eliminating the need for private mortgage insurance (PMI).
The Home Owners' Loan Corporation was a program that was begun in 1933 as part of the New Deal. It refinanced home mortgages that were in default through no fault of the borrower, but because of the dismal economic conditions during the Great Depression. The HOLC was a government-sponsored program which issued approximately one million loans in its first two years. The HOLC gradually wore out its usefulness, becoming replaced by direct reduction loans and…
Night blindness is the first symptom in Vitamin deficiency. Bitot's spots are the first sign in Vitamin A deficiency. Then you have skin related affections and affections related to respiratory and gastrointestinal tract. In advanced stage you have a toad skin. You have keratomalacia and corneal ulcers as the deficiency advances. This ultimately leads to complete blindness. Vitamin A deficiency is still a leading cause of blindness in children in developing countries. Millions of children…
Can you keep your home after filing bankruptcy if you have a second mortgage if you want to reaffirm with your first mortgage?
How can one remove a cosigner from an equity loan if the cosigner is not on the first mortgage title?
A second mortgage is a secured loan on a house (or property) which is subordinate to another loan against the same house or property. In practical terms, in case of default, the first leinholder (first mortgage holder) is paid first. Second mortgages are often considered to be 'home equity' lines and are frequently used for home improvement purposes or debt consolidation.
The type of home mortgage will vary depending on your family and economic needs, as well as location of the home, or services of the bank or mortgage broker. There are traditional, fixed-term mortgages, variable-rate mortgages, as well as Federal Housing Authority mortgages available for single-family dwellings and first-time homebuyers.