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what means 'mortgage value' as the real estate property
What else can I help you with?
What is the role of estate surveyor and valuer in mortgage bank?
the followings are some of the roles of an estate surveyor in the mortgage industry: - 1. assessing the value of the property to be mortgaged
What happens after probate if a house is involved and a beneficiary wants to keep it?
The beneficiary can buy the property from the estate. That means the mortgage must be settled and the price must be market value.
What happens when a mortgage holder dies and has no estate?
If by "mortgage holder" you mean the person who secured a loan with a mortgage, then it will be for a probate court to determine a fair settlement of the amount still owed by the estate to pay off the loan. If there is insufficient value left in the estate after settling taxes and other debts, the lender may have to accept the loss. It would seem a bit odd that the estate does not contain the property that was purchased with the loan.ClarificationIf a mortgage holder dies, they have an estate. The debt owed under the mortgage is part of their estate. You now owe the debt to their heirs unless there is some language in the note and mortgage that the debt will be forgiven upon the death of the mortgage holder. In that case, there must be recorded evidence of that language in order to remove the encumbrance from the property.
What is value of homes that have no mortgage in US?
The value of a HOME, that has no mortgage has the same Real Estate market value as one which does have a MTG. The value is assessed by the market conditions at any given time. The most recent 30-90 day sold properties in the same subdivision with similar qualities would provide a current value to all the homes and not just those that are free and clear of a Mtg. An appraiser would give the same Real Estate value to a home with or without a Mortgage attached.
Can a home mortgage calculator help me?
Basically one first inputs a series of variables related to their mortgage. With the addition of a location, it then calculates a fair mortgage value.
What Types of REITs are There?
There are three main types of REIT's.Equity REITsEquity REIT's invested directly in Real Estate and own and manage the properties and therefore are responsible for the properties' asset value. Mortgage REITsA mortgage REIT originates buys and/or sells mortgages for real estate property owners. They make loans that are secured by real estate or purchase mortgage-backed securities or existing mortgages. Hybrid REITsHybrids combine the investing principles of mortgage and equity REITs, diversifying between making mortgage loans and direct property ownership.
What mortgage means?
A mortgage or mortgage loan uses real-estate or personal property as collateral to guarantee a repayment of a loan. A mortgage is a debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments. Mortgages are used by individuals and businesses to make large real estate purchases without paying the entire value of the purchase up front. Over a period of many years, the borrower repays the loan, plus interest, until he/she eventually owns the property free and clear. Mortgages are also known as "liens against property" or "claims on the property." If the borrower stops paying the mortgage, the bank can foreclose.
Are mortgage bonds secure bonds?
A mortgage bond is a bond secured by a mortgage on one or more assets and are typically backed by real estate holdings. In a default situation, mortgage bondholders have a claim to the underlying property and could sell it off to compensate for the default. However, the value of the property may decline.
What is considered an asset in an estate and how does it impact the overall value of the estate?
An asset in an estate is any valuable item or property owned by the deceased person. Assets can include real estate, investments, vehicles, and personal belongings. The value of these assets impacts the overall value of the estate, which is the total worth of all assets minus any debts or liabilities. A higher value of assets in an estate typically means a higher overall value, which can affect how the estate is distributed among beneficiaries or creditors.
What does mortgage home improvement mean?
It means that you take out a second mortgage to help make home improvements on your house. This often raises the value of your house if you are selling it.
If you are living in a home with your parent who dies and there is a mortgage on the home does it have to be included in the probate of the estate. What are the ramifications of not doing so?
Probate is strictly governed by state law. In order for the title to real estate to pass to the heirs the estate must be probated. Generally, the value of the property less the amount of the balance due on the mortgage will be included in the inventory. There will be a notice of the death published in the local newspaper. The creditors of the decedent need to be notified of the death. The property is subject to the mortgage and if the mortgage isn't paid the bank will foreclose. You may need to negotiate with the bank to refinance the mortgage. You should consult with an attorney who specializes in probate.
What is PSI in Real Estate?
I think you mean "PMI" which is an acronym for Private Mortgage Insurance. It applies when more than 80% equity exists in the appraised value of a property. It results in higher interest rates and a higher mortgage payment.
