Let the value of the lot be ( x ). Since the value of the house is five times that of the lot, the value of the house is ( 5x ). Together, they total $212,400, so the equation is ( x + 5x = 212400 ), or ( 6x = 212400 ). Solving for ( x ), we find ( x = 35400 ), making the value of the house ( 5x = 5 \times 35400 = 177000 ). Thus, the house is worth $177,000.
What is usually an advantage of homeownership?
Firstly you are building up equity (value) as the home price values rise and you begin to pay down the mortgage. Eventually, after the mortgage is paid off, you own the home lock stock and barrel and when you sell the new buyer will have to cash you out 100%, and you can take those funds and invest in another home of higher value.
When does the Federal Tax Credit for solar panels expire?
The 30% solar ITC (Federal or Investement Tax Credit) has been extended till the end of 2018!
The ITC will now continue at 30% until the end of 2018 for both homeowners and businesses, and then step down over the next three years to 25%, then 20%, then 15%, until it is just 10% in 2022. The ITC is essentially a 30% discount on the cost of going solar.
How will withdrawing cash from my savings affect my profit rate?
bank profits rates can get affected with continuous withdrawals. Higher the balance more will be the profit earned.
When it comes to equity what does it mean to have negative equity or be underwater?
The amount owed is greater than the car's worth
Can I get a modification with incurable debt?
Yes, you can seek a modification even if you have incurable debt. Lenders may consider a modification to help you manage your payments better and avoid foreclosure, especially if you demonstrate financial hardship. It's important to present your situation clearly, including your income and expenses, to show your need for a modification. Consulting with a financial advisor or attorney can also provide guidance tailored to your circumstances.
What to do if U can not pay mortgage?
Call or visit the mortgage company. Mostly they do not want you to lose your home and will help you devise a mutually satisfactory solution. Do not delay with this, act as soon as possible.
Can a loan processor approve a home loan?
No. A loan processor gathers the documents and information needed so that an underwriter can approve (or disapprove) a loan. In general, the loan processor does know what is needed by the underwriter.
How much does a mansion cost to build?
There are many factors that would be needed to determine the cost of any building project. Location, square footage, ect.
An at home is a form of party where the host says they will be at home at certain hours, during which time guests can come and go as they please.
When people take out a mortgage they must pay back the money?
Yes. The money must be paid back to the lender. If not paid back then lender can take possession of the real estate and sell it.
How do you house husband died but house is in both names?
If a house is owned jointly by both spouses, it typically passes to the surviving spouse upon the death of one partner, depending on the type of ownership (like joint tenancy with right of survivorship). If the deceased spouse had a will, the house could be addressed there, but generally, the joint ownership would prevail. If there are debts or other complications, it's advisable to consult with a legal professional to navigate the estate and property transfer.
What are some advantages of owning a house?
owing your own house is a dream for everybody. it is very advantageous to have own house.
there is no tension of monthly rents. you can do anything you like to decorate your house without restrictions.you can feel like king of that area
There are four useful analysis that perform from a single family that are owners. The four analysis are credit reports, income, collateral and automated underwriting.
What is the function of a purchasing cooperative or co op?
The co-operative model is as flexible as any organizational structure and may than not, the very patrons of their establishment, buying a share in the co-op.
Brand A is worth 78 billion while Brand B is worth 33 billion
Does Ryan O'Neal have a trust fund?
Yes, Ryan O'Neal has a trust fund with inheritances of $ 300 million but he might be worth more. Which means he doesn't need to work. His family is worth $ 4.4 billion fortune.