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Is it legal to pay 12 months advance mortgage payments on owner occupied property?
Wiki User
∙ 14y ago
Of course. You can pay any payments in advance, although it may be better to just pay down the principal balance instead.
Wiki User
∙ 14y ago
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What is proposed mortgage advance?
The money loaned to the buyer, by the lender. In technical terms the Loan to Value cash figure. For example for a property at 100,000, a 90% LTV mean the buyer will put 10% deposit down. And in this case the proposed mortgage advance is 10,000
Can you pay Bank of America mortgage with credit card?
Bank Of America does not allow payments towards mortgage balance to be applied from a credit card, only a checking account. Cash advance from a credit card can be obtained and then transferred to a checking account which is being used for the mortgage payment.
Can you tell me what corporate advance means from a mortgage company?
Corporate Advance: a charge made to a borrower's account to protect the lender's / investor's interest in a property (e.g. property inspection, comparative market analysis, attorney fees, etc.). This fee is later recouped by the lender.
Do you pay a mortgage like rent in advance?
Mortgages are almost always paid in arrears (I'm not sure if this is a legal requirement, or just the way it's done). This means your mortgage payment is for the month just past, instead of the month coming up. When you pay rent, you never own or have a financial interest in the property. With a mortgage, you will (eventually) own the property outright.
Insure means to?
arrange for compensation in the event of damage to or loss of (property), or injury to or the death of (someone), in exchange for regular advance payments to a company or government agency:
When looking for the best mortgage deals what are some important points to keep in mind?
When looking for a good deal on a mortgage you have to take the points, total cost and amount of income in to consideration. Balloon payments can put a strain on finances so know in advance if and when those parts of the payment will need to be made.
Where can one get a no documentation mortgage?
You can get a no documentation mortgage from Mortgage Rates Experts, Bills, Get a Loan with Bad Credit, Hasty Cash Advance, No Doc Mortgage and other websites.
What is the meaning of corporate advance on a mortgage?
A corporate advance on a mortgage is a payment for a service related expense that is owed by the borrower. These expenses may include such things as foreclosure expenses, attorney fees, and bankruptcy fees.
What is advance guarantee?
buyer will sometimes make an advance payments to the seller to enebled them to start acquisition or production of goods.
Can your property be repossesed if you are not behind in payments?
Yes. When you borrow money you agree to all the provisions in the note and that includes other obligations apart from making the monthly loan payments. You also agree to keep the property adequately insured against loss and to keep your property taxes current. The municipal expenses for real property must be paid on time. If you default on any of those other obligations and the bank must advance money to pay them in order to protect its interest in the property, you must reimburse the bank or it can foreclose.
What is corp adv fee?
These are any costs that a mortgage company has incurred in the collection or servicing of a mortgage. An example of a corporate advance fee would be if the second mortgage company makes a payment to the first mortgage company.
What is advance payment guarantee?
buyer will sometimes make an advance payments to the seller to enebled them to start acquisition or production of goods.
