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You should be a non-occupying co-borrower on the note, which means that you will not be living at the residence but you are vouching for the primary borrower in case he/she cant make payments. So basically, your credit is on the line. If you didnt handle the situation in that manner there are numerous other possibilities.
What else can I help you with?
How do HELOC payments work?
HELOC payments work by allowing borrowers to access a line of credit based on the equity in their home. Borrowers can withdraw funds as needed and make monthly payments based on the amount borrowed. The interest rate is typically variable and payments may fluctuate based on the outstanding balance.
Is it possible to purchase a house with only 1 year of work history?
It may be possible to purchase a house with only 1 year of work history, but it can be more challenging. Lenders typically prefer to see a stable work history to assess your ability to make mortgage payments. You may need to provide additional documentation or have a strong credit score to compensate for the shorter work history.
What is an example of a mortgage and how does it work?
An example of a mortgage is when a person borrows money from a bank to buy a house. The bank lends the money, and the borrower agrees to pay it back over time, usually with interest. The house serves as collateral, meaning if the borrower fails to make payments, the bank can take possession of the house.
How do foreclosures work?
A foreclosure occurs when a homeowner defaults on their mortgage payments, and the bank sells the house in order to get it money. The homeowner has the right to redeem the house before the sale, in most states.
Can you explain how estimated tax payments work?
Estimated tax payments are payments made to the government by individuals or businesses who expect to owe a certain amount of tax at the end of the year. These payments are typically made quarterly and are based on an estimate of the taxpayer's income and deductions. Failure to make these payments can result in penalties and interest charges.
If you have been making half your house payments each month can they still foreclose on it?
Yes. The mortgage requires you to make the FULL payment every month; failure to do so may result in foreclosure. However, in the United States (and probably in many other countries) most banks are willing to work with you to figure out a way for you to make the payments and keep your house. They'd rather have SOME money than to foreclose on the house and get nothing until the bank can finally sell it to someone else. If you can't make your house payments, then contact the bank and explain the problem.
What are the best tips on how to make ach payments work?
ACH ( Automated Clearing House) payments are electronic payments from one account to another. Some tips on making it work are gather your information, make a list of all your bills, set up the CAH payments you want, record the ACH transactions and the dates they will be deducted. Check and balance the account monthly to make sure the right amounts have been deducted at the right time.
What exactly makes someone a trustworthy lender?
A trustworthy lender is someone that has positive feedback. Also it is someone that is willing to work with you when you run into difficulties with the payments.
If your husband die and have no will and you are not on the deed of the house or on the mortgage loan do you have to live and the house or can you leave?
This depends on where you live. Generally the estate will work it's way through probate court and the home will be awarded to someone. In practice, as long as the payments come in a lender may never question who lives in the home.
How do HELOC payments work?
HELOC payments work by allowing borrowers to access a line of credit based on the equity in their home. Borrowers can withdraw funds as needed and make monthly payments based on the amount borrowed. The interest rate is typically variable and payments may fluctuate based on the outstanding balance.
Is it possible to purchase a house with only 1 year of work history?
It may be possible to purchase a house with only 1 year of work history, but it can be more challenging. Lenders typically prefer to see a stable work history to assess your ability to make mortgage payments. You may need to provide additional documentation or have a strong credit score to compensate for the shorter work history.
Can car payments be taken over when someone dies?
Best way to do this is to talk to the place that holds the note on the car. They will usually work out something. If someone has power of attorney it would help out. They could just simply do a take over payments on the books.
Can you make payment plans to a collection company?
Yes. There are many companys that do this. They work with the creditors and help you make the payments that you can afford.
What is an example of a mortgage and how does it work?
An example of a mortgage is when a person borrows money from a bank to buy a house. The bank lends the money, and the borrower agrees to pay it back over time, usually with interest. The house serves as collateral, meaning if the borrower fails to make payments, the bank can take possession of the house.
When you make life ins payments at work from your check are you making them for that month or the month ahead?
The next month.
How do foreclosures work?
A foreclosure occurs when a homeowner defaults on their mortgage payments, and the bank sells the house in order to get it money. The homeowner has the right to redeem the house before the sale, in most states.
What make someone work for a person?
What makes you work is usually to get money .
