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What is the meaning of a recast mortgage and how does it differ from a traditional mortgage?
A recast mortgage is when the borrower makes a large payment towards the principal balance of the loan, which then reduces the monthly payments. This differs from a traditional mortgage because it allows the borrower to lower their monthly payments without refinancing the entire loan.
What is an advantage of taking a 30 year fixed mortgage compared to other options?
One advantage of a 30-year fixed mortgage is that it offers stable and predictable monthly payments over the entire loan term, providing borrowers with long-term financial security and budgeting consistency.
How does a Home Equity Line of Credit (HELOC) get paid back?
A Home Equity Line of Credit (HELOC) is paid back by making monthly payments that include both the principal amount borrowed and the interest accrued on the outstanding balance. The borrower can choose to pay off the entire balance at once or make regular payments over a set period of time, typically 10-20 years.
What is repossession?
It is where a lender (usually a bank or credit union) recovers collateral that is held in a security agreement and hasn't been paid for.In the usual sense, something purchased using a loan is taken back from the buyer because he has not kept up payments for it. Typically this includes cars and other vehicles.Repossession is the practice of reclaiming property on which a sale contract has not been completed. Until the entire sale price has been paid (along with any interest), the original owner has a lien against the property and the legal right to reclaim it. However, some methods of repossession (such as violating private property) may be unlawful. Reclaiming possession of mortgaged property for an outstanding unpaid loan is called foreclosure.
Is the total interest expense over the entire life of a bond is equal to the sum of the interest payments plus the total discount or minus the total premium related to the bond?
Yes, the total interest expense over the entire life of a bond is equal to the sum of the interest payments plus the total discount (if the bond is issued at a discount) or minus the total premium (if the bond is issued at a premium). This accounts for the effective cost of borrowing, reflecting both the cash flows from interest payments and the adjustments for the bond's initial issuance price relative to its face value.
What is the meaning of a recast mortgage and how does it differ from a traditional mortgage?
A recast mortgage is when the borrower makes a large payment towards the principal balance of the loan, which then reduces the monthly payments. This differs from a traditional mortgage because it allows the borrower to lower their monthly payments without refinancing the entire loan.
If you are delinquent on payments and the debtor threatens repo and you bring the car current can they still repossess?
If they just "threaten" you, and you bring it current, then no. But.. if they send you a letter threatening repossession and calling the entire note, and you do not pay the entire balance on the note, then yes they can take your vehicle.
Is it legal for Bank of America to demand the entire balance of a car loan be paid if the borrower is three payments late?
Yes, its known as an acceleration clause. It was in your contract. That enables the lender to begin the process of repossession.
Is the baby in the uterus throughout the entire duration of pregnancy?
Yes, the baby is in the uterus throughout the entire duration of pregnancy.
So i just got a ford focus about a week ago and are doing monthly payments i'm not completely satisfied with my decision can i trade it in even though i just got it?
Yes, but don't expect to get your entire purchase price in trade.
Can you return a financed vehicle?
Yes. This is called a "voluntary repossession". You're still responsible for the entire amount of the loan, so if the car is worth less than the remaining loan amount, then you'll have to make up the difference. Also, it's still a repossession, even though it was voluntary, and will appear on your credit. If you're not late on the payments yet you may do better to sell the vehicle yourself and use the proceeds to pay off the loan, as this won't ding your credit.
What are some examples of variable rate loans and how do they differ from fixed rate loans?
Variable rate loans, such as adjustable-rate mortgages and variable-rate student loans, have interest rates that can change over time based on market conditions. This means that the monthly payments can fluctuate. In contrast, fixed rate loans, like fixed-rate mortgages and fixed-rate personal loans, have interest rates that remain the same for the entire loan term, providing predictability in monthly payments.
Is shonen jump monthly or weekly?
weekly. Monthly for the entire catalog. -B.
Are film promos the entire movie?
No, film promos are not the entire movie. They are approximately 2 and a half minutes duration.
Is it possible to have a monthly period for nine months?
Yes. Many women have them their entire lives.
What is the statute of limitations of a car repossession in Georgia?
Before your car payment is due, call the lender and ask for extra time. If you're at least a few months into the loan and haven't missed any payments, the lender will probably let you miss one or two months' payments and tack them on at the end. If you don't pay or make arrangements with the lender, the lender can repossess without warning, although many will warn you to give you a chance to pay what's due. If your car is repossessed, you can get it back by paying the entire loan balance and the cost of repossession, or, in some cases, by paying the cost of the repossession and the missed payments, and then continuing to make payments under your contract. If you don't get the car back, the lender will sell it at an auction almost always for far less than it's worth. In most cases, you'll owe the lender the difference between the balance of your loan and what the sale brings in. If you are far behind on your car payments and can't catch up, the truth is that you may not be able to afford the car. Under these circumstances, you should think about voluntarily "surrendering" your car before the dealer repossesses it. This strategy can save you expensive repossession costs and attorneys' fees. Because it also makes life easier for the dealer, you should try to get concessions from the dealer before you give up the car. A dealer will often waive its right to collect the amount left owing on the loan and/or promise not to report the default or repossession to credit bureaus. Try to get the dealer to agree not to report negative information to credit bureaus in return for your voluntarily surrendering the car. Negative information (such as a surrender, default, or repossession) will appear on your credit report for seven years, and will affect your ability to get credit in the future.
Can you sue your roommate for half of the rent for the entire duration of the lease?
If they are on it-yes.
