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How do you calculate average daily balance?
AnswerTake the account balance at the end of each day's business. Add all of these balances and divide by the number of days. Average Daily Balance is the practice of crediting an account from the day a payment is received or debiting an account on the day a charge is made. It is a daily tracking of what is owed. The lender adds the beginning balance for each day in the billing period to the charges made that day, and then subtracts any payments and/or credits made to the account that day. Adjusted Balance adds charges and subtracts payments made during the billing cycle from the balance at the end of the previous billing cycle. This method is more advantageous to borrowers and credit card holders.
What is a repossession affidavit?
It's the sworn statement that the lender files with the state DMV when a vehicle is repossessed. It includes data such as, how the vehicle was repoe'd (voluntarily or replevin order) the default date of loan, the date of repossession, the amount owed, the value of the vehicle, all indentifying information,(date and time, location) and so forth.
Why does the lender need the IRS Form W-9?
The lender requires the IRS Form W-9 to obtain the borrower's taxpayer identification number (TIN) and certification of their tax status. This information helps the lender report any interest payments made to the borrower to the IRS, ensuring compliance with tax regulations. Additionally, the W-9 provides assurance that the borrower is not subject to backup withholding, which could affect the lender's reporting responsibilities.
Who requests a form 4506 T Lender or IRS?
Most lender's ask for verification of tax returns (1040's) to verify everything is 100% correct. The lender sends the 4506-T form to IRS as authorization and an order form. Usually takes 2-3 business days to return, and no you can not request a rush.
How much is owed on a property?
The amount owed on a property typically refers to the remaining balance on any mortgages or loans secured by the property. This can be determined by reviewing the mortgage statements or contacting the lender for the current payoff amount. Additionally, any liens or unpaid property taxes may also contribute to the total amount owed. It’s important to gather all relevant financial documents to get an accurate figure.
Can a co borrower have their name removed from the loan?
Usually no. However, it might be worth contacting the lender to see.
Where can one find the current status and information of your home loan?
One can find the current status and information regarding ones home loan by contacting their lender or loan servicer by telephone on their mortgage statement. Determining who owns the mortgage is crucial in obtaining information.
Where can I find my settlement statement?
You can find your settlement statement in the closing documents provided to you by your lender or title company at the end of a real estate transaction.
Where can I obtain a copy of the HUD-1 settlement statement?
You can obtain a copy of the HUD-1 settlement statement from your mortgage lender or the title company involved in your real estate transaction.
What is the Pay off amount on my house?
That amount should be on your mortgage statement each month. You can probably also get that number from your lender.
In Texas if a mortgagee Buyer leaves the home and the mortgagor Lender has no way of contacting the mortgagee can the mortgagor take house because of abandonment?
The borrower is the mortgagor. The lender is the mortgagee. Generally, if the mortgagor doesn't pay the mortgage the lender can foreclose as long as they reserved the right to do so in the mortgage document. Generally, legal title to real estate does not pass through abandonment.
How can I obtain a copy of a HUD statement?
To obtain a copy of a HUD statement, you can contact the lender or closing agent involved in your mortgage transaction. They should be able to provide you with a copy of the HUD-1 Settlement Statement, which outlines all the details of your mortgage closing.
Where can you find the best mortgage deals in Oregon?
Consult your local yellowpages for their Mortgage Lender Directory. This will give you a starting place to begin contacting mortgage lenders in your area for rates an comparisons.
What is loan outstanding?
How many unpaid debts do you have?
How do you remove your name from a loan?
Pay it off.If you're a cosigner, you can try contacting the lender to see if they'll take your name off the loan; they might be willing to do so under the right circumstances.
How do you find a hud settlement statement from 1994- The Title Company has closed. I'm trying to prove what my ex- to be is saying in our divorce is forged stating he put thousands pre-marital?
You might try contacting the mortgage lender. It is possible that this statement MIGHT be part of their documentation. Also, if you were represented by an attorney and/or a real estate agent at closing, you could try contacting them as well, to determine if they might still retain copies of any of the closing papers. As an aside - he would be required by the court to back up his claim by producing evidence of what he is alleging. If he cannot, the court is unlikely to accept his unsupported word. Aren't you represented by an attorney? If not, you should be, and you ought to be directing this question to them.
What can you do if you notice major damage to the car when you get it back after repossession?
ANY claim about anything is subject to have to be proved. Sooo, get some sort of proof and contact the LENDER ASAP. Got any pics of the car the day before repo? Any reciepts from the week before when you had that repaired or noted that it didnt need repair? Anything like that? Do not waste your time contacting the lender instead sue the lender and the repo moron for the damages.
