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If your name is not on the mortgage and you contribute towards it how do you stand if you get divorced with kids involved?
It will depend on the specifics of your situation and the laws of your state regarding whether the property is considered to be separate property or marital property. Even if your name is not on the mortgage/title, it would likely be considered marital property if it was purchased (not received by/purchased from funds received by gift or inheritance) during the marriage. Check the laws of your state regarding divorce/property distribution. * The names on the mortgage only indicate the persons responsible for the repayment of the loan. Ownership of any property is determined by how said property is titled. In community property states all property acquired during a marriage is considered jointly owned. In non-community property if the title does not contain both spouse's names state laws governing marital property take precedence, usually it will be resolved by equitable distribution.
What else can I help you with?
Can you prepay your mortgage?
Yes, you can prepay your mortgage by making extra payments towards the principal amount of the loan. This can help you pay off your mortgage faster and save on interest costs.
Do voluntary mortgage payments get recorded as principle AND interest or principle only?
Not sure about U.S.A. loans, but in Canada, if you pay extra towards your mortgage, the entire payment goes towards the principle only. This is, of course, assuming that your mortgage agreement doesn't state otherwise, and that you are current in your regular required payments.
How do I use an amortization mortgage calculator ?
A amortization calculator is used by putting in how much you owe on your mortgage and at what percent. It then will tell you how much your payments are and how much of that is going towards the principal and how much of each payment is going towards interest.
How can changing your spending habits at the supermarket effect your mortgage?
By making a budget for the Supermarket and sticking to it you will be able to have more money for your mortgage. By changing your spending habits at the Supermarket you will effect your mortgage because you will be able to have extra money from your trips to the market to put towards your mortgage.
What happen when wife name is not on the mortgage after a divorice?
After the divorce why do you need your wife name on the mortgage. You should work to remove the wife name from the mortgage and have sole responsibility towards it unless you guys worked out a different arrangement.
How did the europeans contribute towards the development of Guyana?
business
Do copays contribute towards reaching the maximum out-of-pocket limit?
Yes, copays typically contribute towards reaching the maximum out-of-pocket limit set by your insurance plan.
What is one potential effect of an increase in mortgage interest rates?
Increased mortgage rates for a homeowner mean their mortgage payments increase. Additionally, less money will go towards reducing the principle with an increased interest rate.
Where do extra mortgage payments go, principal or interest?
Extra mortgage payments typically go towards reducing the principal balance of the loan. This can help you pay off your mortgage faster and save on interest costs over time.
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 in arrears for two months on your mortgage can they still go for repossession if you can pay something towards it?
That depends on the financial institution where you have the mortgage. Talk to them, tell them your problem and work out payment arrangements.
What could the students do to contribute towards a greener planet?
Recycle.
