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Home Equity and Refinancing

Home equity is the ownership value accumulated in a property. A refi involves restructuring a debt, usually to take advantage of lower interest rates.

5,740 Questions

Where does a corporation gets it equity from?

From stockholder's equity which is the money the corporation's stockholders invest.

What documents are required for home loan application in India?

To avail a home loan from an Indian Bank you will have to submit your personal, financial and bank account details along with ID,Age,Address proofs.

Does the spouse have to sign the mortgage in PA-Hubby is the one on the mortgage but bank states wife has interest in property so she must sign. Does that mean she has to be a co-applicant?

Yes. If the husband and wife own the property then the wife must sign the mortgage in order to grant the lender the right to take possession of the property by foreclosure if the loan isn't paid.

The note is a separate instrument in a mortgage transaction. The note sets forth the terms of the loan and must be signed by the responsible party. In some cases the lender will allow only one party to sign the note and only that party will be responsible for paying the loan. However, if real property is used as security for the loan both owners must sign the mortgage.

Yes. If the husband and wife own the property then the wife must sign the mortgage in order to grant the lender the right to take possession of the property by foreclosure if the loan isn't paid.

The note is a separate instrument in a mortgage transaction. The note sets forth the terms of the loan and must be signed by the responsible party. In some cases the lender will allow only one party to sign the note and only that party will be responsible for paying the loan. However, if real property is used as security for the loan both owners must sign the mortgage.

Yes. If the husband and wife own the property then the wife must sign the mortgage in order to grant the lender the right to take possession of the property by foreclosure if the loan isn't paid.

The note is a separate instrument in a mortgage transaction. The note sets forth the terms of the loan and must be signed by the responsible party. In some cases the lender will allow only one party to sign the note and only that party will be responsible for paying the loan. However, if real property is used as security for the loan both owners must sign the mortgage.

Yes. If the husband and wife own the property then the wife must sign the mortgage in order to grant the lender the right to take possession of the property by foreclosure if the loan isn't paid.

The note is a separate instrument in a mortgage transaction. The note sets forth the terms of the loan and must be signed by the responsible party. In some cases the lender will allow only one party to sign the note and only that party will be responsible for paying the loan. However, if real property is used as security for the loan both owners must sign the mortgage.

What if you signed mortgage but not promissory note?

If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.

If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.

If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.

If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.

Can a equity loan get audited for predatory lender?

If you feel you are a victim of predatory lending then by all means it should get audited

How many house payments do you have to be behind for a trustee sale?

A trustee sale is a public auction at which a piece of real estate is sold. Trustee sales are held when people default on their mortgages and the lenders take possession of the property, and they are also held when people fail to pay their property taxes and the taxing authority takes the property. Such sales are usually listed in the newspaper so that members of the public are aware of the fact that property is available for sale.

In the case of mortgaged properties, when someone mortgages a property, part of the agreement involves a clause which allows the lender to foreclose on the property if the borrower does not pay. When property is foreclosed, a person is appointed to act as a trustee to handle the repossession of the property and the sale at auction. The purpose of the trustee sale is to collect the balance of the loan. Tax auctions are held for similar reasons.

What is the background research of color changing milk?

Well my teacher told me that you just have to talk about the milk, food coloring, or dish soap you use and just explain how you used it.

What is a monthly payment for a house in California?

The monthly mortgage payment data above are pretty amazing. Compared to 2006, the typical California first-time home buyer today saves more than $21,000 annually in housing costs (adjusted for inflation). We hear all the time that median household income is flat or falling, but that doesn't account for the significant savings in housing costs in states like California, at least for some home buyers, especially first-time buyers. Even with no change in median income, some recent, first-time home buyers are experiencing the equivalent of a $21,000 increase in real income compared to 2006.

What is purpose of a mortgage?

A mortgage is granted to a lender by the owner of real property in conjunction with a loan. The owner must grant a security interest in real property to the lender. A note that sets out the terms for the loan is executed at the same time. The mortgage must be recorded in the land records and then constitutes a lien on the real estate until it is discharged. It will take priority over any liens that are subsequently recorded.

If the mortgage is not paid the lender can take possession of the real estate by foreclosure. Therefore, from the perspective of the lender the purpose of a mortgage is to grant the lender a security interest in the real estate so that it can take possession if the loan isn't paid.

From the borrower's perspective, a mortgage can be used to purchase and improve real estate. It can also be used for any other purpose for which the property owner is willing to encumber their real property by using it as collateral.

What is the definition of home owners loan corporation?

Home Owners Loan Corporation(HOLC) Date:1993 Deffinition-Gave loans at low cost to homeowners so they could continue making their house payments. Hope this answer was helpful to you. Sincerly Faith Rodriguez 02-13-12<3

What is owners equity decreased by?

Owner Equity decreased by:

  1. Reduction in asset value without reduction in liability
  2. Owners drawings
  3. Net loss for current period.

What is the loan management?

If you have a large balance on a high interest rate credit card, paying the balance off can be difficult. That's because the monthly finance charges eat up your minimum payment and the balance only goes down a small amount every month. Though paying off higher interest rate debts first is the way to save money in the long run, it may not be the best method for your finances.

Who is the Leader of home loan department at U.S. Banks Home Mortgage?

Chase Home Finance, LLC engages in originating and servicing residential mortgage loans. It offers mortgage, home equity, and manufactured housing loans. The company is headquartered in Edison, New Jersey. Chase Home Finance LLC operates as a subsidiary of Chase Home Finance, Inc.

343 Thornall Street

Suite 7

Edison, NJ 08837

United States

Phone:

732-205-0600

Key ExecutivesMr. Stephen J. Rotella Chief Executive Officer

Age: 55

Mr. Glenn J. Mouridy President and Chief Financial Officer

Age: 53

Mr. Luke Hayden Executive Vice President

Mr. Richard W. Miller Senior Vice President

Mr. Thomas Wind Executive Officer

Can you make a mortgage payment with cash?

Yes, but you must make certain you obtain a written receipt and then keep those receipts in a file as your proof of payment and in order to compare to your monthly statement to make certain the payments are being applied properly.

Yes, but you must make certain you obtain a written receipt and then keep those receipts in a file as your proof of payment and in order to compare to your monthly statement to make certain the payments are being applied properly.

Yes, but you must make certain you obtain a written receipt and then keep those receipts in a file as your proof of payment and in order to compare to your monthly statement to make certain the payments are being applied properly.

Yes, but you must make certain you obtain a written receipt and then keep those receipts in a file as your proof of payment and in order to compare to your monthly statement to make certain the payments are being applied properly.

How debt equity ratio improved?

Since the debt/equity ratio is determined as a fraction, you either decrease debt or increase equity. Before 2008, home equity increased yearly, but middle class persons kept borrowing against the equity rather than let it increase. Many mortgages are now underwater - the value of the house is less than the mortgage(s). So increasing equity is difficult.

Debt can be improved by 1)discharging debt in bankruptcy, 2) paying down credit cards, 3)never going over credit limits, preferably staying under half of the credit limit and paying the balance due at the end of the period (not the minimum payment due, the full balance). If you have more than one card, you might want to try paying down one card completely. Picking which card to do that to can get complicated, so you might consult a US Trustee approved debt consultation agency.

How long after refinancing your home with VA Streamline can you sell it?

Time Limits on Sales after Refinancing

The Veteran's Administration does not put time limits on the sale of a property after it has been refinanced, as it limits refinancing. You can sell a home with a VA loan any time after the loan has closed.

The VA says that if the loan was approved after March 1, 1988, the VA or the lender has to be notified and approved before the person takes over the existing VA loan.

The property can be sold to anyone and the outstanding VA loan paid off without preconditions.

Short Sales

A short sale occurs when someone cannot make the payments and chooses to sell the property for less than it is worth rather than face foreclosure. The VA only permits short sales if there are severe hardships, such as death of one of the mortgagees, a reduction in income, involuntary relocation somewhere that commuting is not an option or major medical expenses.

The VA will permit a short sale of the home at any point after its refinancing if these conditions are met, even if the borrower recently refinanced in an effort to save the home. However, the VA requires the property to be sold at market value and the short sale is less costly than a foreclosure in terms of related fees. The VA must receive a contingency sale package to accept the short sale.

If the Property Doesn't Sell

You cannot have two simultaneous VA loans using your VA entitlement, because the VA has strict occupancy requirements. This could result in a new mortgage for the second home having a much higher interest rate or down payment requirement. However, you can get one VA loan on a new property while trying to sell the prior one. You can rent out the old home until it sells.