Home Equity and Refinancing

Profits would increase owners equity, loss and drawing would decrease an owners equity.

Yes, you can make your child move back home. Until they are the age of majority, usually 18, they are the responsibilty of the parents.

A television broadcast is an example of _______ transmission.

expenses

If the mortgagee (lender) fails to record a satisfaction within the set time limits, the mortgagee may be responsible for damages set out by statute.

A Satisfaction of Mortgage is a document signed by a mortgagee acknowledging that a mortgage has been fully paid by the mortgagor and that the mortgage is no longer a lien on the property. In order to clear the title to the real property owned by the mortgagor, the Satisfaction of Mortgage document must be recorded with the County Recorder or Recorder of Deeds.

expenses decrease owner's equity where as revenue increases owner's equity

Equity capital is the form of finance which is provided by owners of the business while debt financing is form of long term loan which requires to pay interest. Debt financing has the benefit that interest paid for that is tax deductable while equity capital don't have to pay any interest and that's why it is not a tax deductable so for this type of benefit of debt finance companies tries to maintain proper mix of debt as well as equity capital in the business.

Businesses donate goods and services to the show in return for the free advertising generated by the show when the construction personnel or home owners directly reference the company on the air.

When you "lock in" a mortgage rate you are accepting the offer presented to you by the bank, mortgage lender, mortgage broker, or credit union you are working with. The lender is essentially reserving a spot for you and the money necessary to fund your loan at the agreed upon rate, assuming your mortgage application is approved.

Having a rate lock is very different from a mortgage approval. The lender still has to review your application which will likely include looking at your credit history, the value of the property, and the amount of your existing assets and other debts. The lender won't make a commitment to lend until the application is approved.

A rate lock is generally for a certain period of time, often 15, 30, 45, or 60 days. Once you lock in the rate, if you close within that window of the rate lock, your mortgage rate will not go up even if the market changes and mortgage rates increase. Talk to your mortgage representative about what will happen if your rate lock expires soon before closing due to the approval process taking longer than expected. Some lenders will offer to extend the rate lock, or share the cost of extending with the borrower. This may depend on whether the delay was due to issues on the lender's side or the borrower's.

Locking in a rate is not a binding commitment to take out the loan. Should you change your mind about purchasing a home or refinancing you may always withdraw your loan application. If rates go down after locking in it's important to remember that the lender was committed to providing you a certain rate even if rates went up during the rate lock period. With that said many lenders have policies allowing applicants in this situation to "float down" and get closer to the market rate when rates drop after they have locked in.

A home equity loan like a second mortgage usually has a higher interest rate than a primary mortgage because it stands second in line in case of a foreclosure and doesn't get paid unless there's money left over after the primary mortgage is paid off. The origination fees are usually much lower than for a primary mortgage. I suppose the answer is that you should run the numbers for both ideas and find out which one is less expensive for your particular situation. For a proper comparison run the numbers financing all the loan origination fees (adding them to the loan principal) and for the same end date.

You ask the people who are servicing the loan. Presumably you're asking because they couldn't supply that information. There are loans that have changed hands in poorly documented groupings and are being "serviced" by the wrong company for the wrong mortgage holder rather than the one that actually hold the mortgage all of which eventually becomes a nightmare for the homeowner when the mortgage holder says they never received one or more payments. Make them straighten out the mess before you try to pay off the note.

Only if he has authority to act as her agent by virtue of a valid power of attorney.

If you inherit something of value -- instead of earning it through work -- you pay no tax unless the value of what you inherit is greater than $5 million. In 2013, the amount you can inherit tax-free goes down to a "mere" $1 million.

In other words, if you earn money by working for it, you pay income tax.

If you inherit the money, you pay pretty much nothing unless the amount is truly huge.

To some politicians, this difference in tax rates is called a "flat" tax. Others propose that those who get their money, not by working for it, but by inheriting it, should pay no tax at all -- which these people also insist is a "flat" tax rate.

You aren't holding the money from a 30 day option to purchase that wasn't exercised; you're holding a partial payment for an incomplete transaction. In theory you can assert a demand for specific performance (sale of the house at the agreed price) and hold on to their money temporarily while you perfect the contract by completing the transaction with another buyer. In practice you return the earnest money and move on. Here's why...

First you should be aware that holding that money will make you unpopular with your real estate agent and all the other real estate agents in your area. If you tie up that cash, then its not just your deal that doesn't go through, its whatever house the buyer would have bought instead and the sale of whatever house they're in, or the finder's fee for renting the unit they're renting now to someone else. (and so on for those people ad infinitum) You're blocking the whole chain of deals and commissions. If the real estate community begins to think of you as a "problem" they only show your place to a buyer if they've seen every other listing they have, including MLS. You might find that taking the typical 15-20% beating doing a "For Sale By Owner" and placing ads and charm school courses on how to show it yourself becomes an attractive alternative to never selling the place.

Second, when you hold the money and then sell the house on less advantageous terms you only have a claim against that earnest money for the difference, not the whole amount. In essence you hold the money while you complete the deal that wasn't finished and get the results you would have had from that deal. Unfortunately, in the interim you have to hold that money in trust in a segregated account because isn't even partly yours until the house is sold, you're just holding it in case you have a claim against it. You have to manage the money carefully to generate a decent income without risking any losses, make regular reports to the other party about how much money there is and where its held etc, and then promptly refund whatever is left. You also become responsible to the other party for the sale you make, condition of the house until then, a prompt sale, and so on. If you make any mis-steps you may have to absorb those losses instead of them. You can be held liable as a fiduciary and punitive damages in addition to actual damages could also apply. If you make a better deal, you have painted yourself into a corner by insisting on the deal you made with the first buyer and now have to pay both the extra profit and the earnest money to the people from the first deal whose money you have been holding.

Unless you haven't been paying attention, on balance keeping the money is not an attractive option. You annoy the people you're depending on to sell the place, you give up all rising market profits and assume a boat load of obligations that can wipe out whatever falling market insurance you get.

This is why you smile and say "I'm so sorry we couldn't do business today." and return their check.

If the house went through the estate then the basis was bumped up to the basis used for the estate (the estimated value at either the date of death or 6 months later that was used for the estate tax return). In the current real estate market with the current tiny capital gains tax its hard to imagine a gain on a sale generating much of a tax bill. If the house is in the trusts name, the trust pays the tax, if in your name you pay the tax. However, if you sell a house that wasn't your primary residence the capital gains tax is taxed in the year of the sale.

I suspect you've got this mixed up with having a year to roll over the capital gain on the sale of a primary residence into the purchase of a new primary residence. If the trust is just an estate management vehicle that liquidates when the estate tax is settled, which is common in Virginia because it lets the executor duck most of the accounting rules and all the interim reports, and if the house has been your primary residence because for example you're the spouse of the decedent, and if through the trust you're the sole beneficial owner of the house then its possible you can roll any gain on its sale over into another house. If you have this kind of well planned estate, I'm not sure why you're asking you're question here though...

You might also have this confused with a rule that sets a short time limit for liquidating an inherited IRA that has a trust as its benificiary as opposed to the more normal rules that apply when the original IRA was promptly separated into individual inherited IRAs for the trust's benificiaries.

If you've got multiple houses now, you should check with whoever does your taxes to find out the tax implications of your plans. My guess is declaring this inherited house to be your primary residence to roll over what's probably a tiny a gain over its basis from the estate would trigger an immediate tax bill for any gains rolled over into the house you lived in before you inherited this house. If gains rolled into that house have been offset by the declining real estate market you would probably have to sell that house to only pay tax on the net gain as opposed the gain that was rolled into it. This doesn't seem like a great advantage, but it all depends on your situation.

No. Not unless there was some type of insurance in place to that effect, either mortgage insurance of a life insurance policy.

No. Not unless there was some type of insurance in place to that effect, either mortgage insurance of a life insurance policy.

No. Not unless there was some type of insurance in place to that effect, either mortgage insurance of a life insurance policy.

No. Not unless there was some type of insurance in place to that effect, either mortgage insurance of a life insurance policy.

people playing call of duty

compound

To qualify for a reverse mortgage, the borrower must be at least 62 years old, own their home in full (or be able to pay the balance on their home with the proceeds of the reverse mortgage), and live in that home as their primary residence.

Yes you can refinance and in order to secure a California home loan your spouse would have to sign a quitclaim deed, included in the final loan papers,to the affect that they are giving up their rights to the property. Your lender must put their blessing on this as well and your spouse will receive a questionairre from the tax collector asking if she received any funds (a buyout) in exchange for coming off title.

<Ahref="http:www.affordableloansbykevin.com">California home loan</A>

Certainly, I know people who have done that. As long as the bank is willing to finance the purchase, you are in business.

No, you do not. The deed has a due on sale clause, but no stipulation for renting your home.

In forward exchange rate, the rate is booked in advance for a fixed amount and period,which will remain unchanged in case of any market fluctuation or deceleration.In fact forward exchange rate booking is done to protect or guard against volatile market condition.

In spot exchange rate, the exchange rate prevalent on a particular date is booked for immediate effect.

The FHA 203k Loan is currently (as of August 29, 2012) only available to primary resident owner occupants or qualified non profit groups.