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Usually this refers to two loans, or mortgages. The first loan is 80% of the sales price of the home. The other 20% is borrowed as a second loan, often a home equity line of credit. If you put the full 20% down yourself, this is usually referred to as an 80% loan-to-value mortgage.
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∙ 16y ago
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What happen to second loan after foreclosure?
They only foreclose on the 1st loan. The 2nd will go as a charge off as bad debt. They may sue you to get a judgment on it. I had an 80/20 loan and on my credit the 80 loan was only showing as foreclosure, the 20 was coming up as charged off
What is the loan to value allowed for seller's concessions?
80%
What is a loan that is amortized over 20 years but the balance of the loan is due and payable in 5 years?
Balloon Payment Loan
How do you calculate loan to value?
Outstanding balance of all monies owed against collateral divided by the collateral's value. ($80 divided by $100 is .80 or 80%LTV)
Can you short sale your house if you have two mortgages?
Yes you can. I am currently purchasing a short sale house from people that had a 20/ 80 loan with two banks. It has been very long and tough but it can definetly be done!
What happen to second loan after foreclosure?
They only foreclose on the 1st loan. The 2nd will go as a charge off as bad debt. They may sue you to get a judgment on it. I had an 80/20 loan and on my credit the 80 loan was only showing as foreclosure, the 20 was coming up as charged off
What is 20 percent of 80?
20 percent of 80 = 1620% of 80= 20% * 80= 20%/100% * 80
What is 80 percent of 20?
80% of 20 is 16.
What is the greatest common factor of 20 and and 80?
Since 20 is a factor of 80, the GCF of 20 and 80 is 20
If you pay off a car loan how does it affect your credit and for how long does it affect it?
It will help it - usually 20-80 points - It actually effects it forever.
What ia 80 percent of 20?
80% of 20 = 80% * 20 = 0.8 * 20 = 16
25% of 80?
Twenty five percent of a number would be 1/4 of it. So that would have "25% of 80" is as "80/4 = 20".
What is 20 percent of eighty?
20% of 80 = 20% * 80 = 0.2 * 80 = 16
20 of is 80?
four 20 of 4 is 80 20 x 4 = 80
What is 130 plus 80 plus 20 plus 80?
The result of the equation - 130 plus 80 plus 20 plus 80, is found as follows;130 + 80 + 20 + 80= ( 130 + 80 ) + 20 + 80= 210 + ( 20 + 80 )= 210 + 100= 310Answer = 310
What is 20 out of 80?
20/80 = 0.25
Will you have problems getting a mortgage if you have average credit and a deferred student loan?
Many banks will give you a loan for a house, but your problem will be getting the best APR on your loan. A good rate is around 6%, problems with credit might get you a 8% APR. Don't get fooled into doing an interest only loan or 40 year loan. Use the 30 year loan and you may have to get an 80/20 (80% value of the home for the first mortgage and 20% on the second mortgage) right off the bat if you don't have a down payment of 20% of the value of the home. No one likes a second mortgage coming into the deal, you can always refinance in a couple of years into one mortgage. Shop around to get your realtor and bank.
