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What is meant by doing a debt consolidation mortgage refinance?
Wiki User
∙ 10y ago
A debt consolidation mortgage refinance is refinancing your home and using the money from the loan to pay off your debts. This can be especially helpful if you have credit cards with high interest rates that you can pay off with a low interest rate loan.
Wiki User
∙ 10y ago
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Can you sign quitclaim deed if you still owe mortgage company?
Quitclaim deeds do not release the person quitting claim from their obligations under a mortgage, although a quit claim deed is a step in the right direction. In order to remove the party who quits claim from the mortgage, you must refinance the mortgage in the name of the party to whom title or interest in the property has been conveyed. The credit scores, income and assets of the party quitting claim can no longer be used for the mortgage, and this has traditionally meant trouble for borrowers seeking to refinance to remove the party who quit claim. Quit Claim deed refinancing can be a complex situation, which requires sensitivity and specific expertise in handling refinance transactions pursuant to quit claim deeds.If you have received property or plan to receive property through the execution of a quit claim deed, for example in case of divorce, the only way to finalize ownership of property and mortgage in your own name is to refinance the mortgage once the property is deeded to you, however the overwhelming majority of lenders will not allow you to refinance property unless you have been on title to the property for at least 12 months..
What is meant by Express Consolidation?
The term express consolidation means that you consolidate your debt in one place and they do it very fast. Some companies may take weeks but if you ask for the express consolidation then it is done in a day.
What is meant by 'pre-issuance' in regards to mortgage insurance?
What is the purpose and and benefits of per mortgage insurance
What is meant by school consolidation?
School Consolidation is when one school is closed and the students and faculty are merged and relocated into another school. This is often done to reduce financial expenses for a district.
Are affiliated with a group who is sending your mortgage documents to the world court system and they will dissolve your mortgage is this possible?
I meant to say our mortgage. Sorry for the mess up
How do you cash a check with the mortgage companies name on it for home repairs?
The mortgage company is considered a co-insured when it comes to claims. You can assign it to the person or company doing the repair or ask the company to assign you the check. This is meant to keep someone from cashing a total loss check and not paying the mortgage company anything leaving them with a lot and a debt.
You are in a Chaper 13 and all payments are made on time you want to refinance your mortgage already approved to a lower interest rate Must you borrow all the money over your mortgage balance to pay o?
You do not understand what is meant by refinancing. Refinancing a mortgage means you borrow at least enough to pay all the existing liens, including mortgages, and the new loan becomes a lien (mortgage) against your property. This will have a serious effect on your chapter 13, assuming there are mortgage arrears included in the plan, or if the plan pays less than 100% to the unsecured. Be sure to review this with an experienced bankruptcy before you try this.
What is meant by balloon mortgage in Anchorage, AK?
Regardless of location a balloon mortgage is when you have a large final payment at the end of the loan period.
What is meant by a consolidation personal loan?
Consolidation personal loans are used to pay multiple debts from just one single payment. They can be used to pay the debts of multiple credit cards, loans and store cards.
What is meant by the terminology fixed mortgage rates?
A fixed mortgage rate is an interest rate that will not change for the term of the mortgage. This is in contrast to a variable mortgage rate which changes frequently based on the prime rate or other benchmark rate.
Where can one find a house mortgage calculator?
The websites of most major financial institutions include detailed mortgage calculators. These are meant to help you make informed decisions when selecting a mortgage.
What exactly meant by mortgage in the banking terminology?
The mortgage is the document that says the loan is secured by the property and if not paid the bank has the right to take the property.
