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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
What is the difference between saw sore soar?
Saw is a tool to cut a piece of wood
Sore is when you are hurt or in pain
Soar is when you fly or rise high into the air
Can you refinance a house with negative equity?
At times yes. The new HARP program currently allows refinances on properties up to 125% of their value. After March of 2012 once FNMA and Freddie Mac have updated their automated underwriting engines, lenders may go above and beyond 125%. Each lender may put their own additional rules on top of these rules too. Depending on the lender, your loan must be owned by FNMA or Freddie Mac to be eligible for HARP. Call your lender and ask who owns your loan or use the FNMA look up tool on-line. If your loan is owned by Freddie Mac, it also has it's own look up tool, it's harder finding a HARP lender. As always there are criteria to be eligible for HARP and if you have a second mortgage or HELOC, they have to be receptive to the HARP program too. Best of luck to you.
Who pays taxes on a reverse mortgage home that is no longer lived in?
The owner of the property.
The owner of the property.
The owner of the property.
The owner of the property.
Can the Mortgage be in your name and deed be in both your names not married?
All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.
All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.
All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.
All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.
What House committee makes the rules and regulations that determine who will pay what taxes?
The House of Ways and Means Committee
You may have vested interest in the home, but it doesn't necessarily mean that it is yours now. Get a real estate lawyer and see what you need to do. Gather the proof that you have been making the payments--cancelled checks to the mortgage company are best.
Another PerspectiveNo. You cannot take possession of the property. You would need to bring an action to a court of equity and obtain a court order that transfers all right, title and interest in the property to you. If you lived in the home the court is more likely to view your payments as a form of rent. Courts rarely transfer title when a volunteer pays the mortgage while they were living with the owner. The property will pass to the heirs at law or under the will of the decedent.
What are the documents required for a NRI to get a home loan?
For Salaried Individuals
Almost 95% or more of the NRI's would fall into this Category and they would comprise a huge chunk of the population that apply home loans from banks in India. The documents required would be:
1. Employment Proof - Offer Letter or Contract Letter or Agreement Letter
2. At least 3 months' Salary Slip (Some banks may ask for up-to 6 months' payslips)
3. At least 6 months Bank Statement - Statement from the bank where your employer credits your salary
4. Latest Foreign Identification Copy (Ex: NRIC in Singapore and equivalent identification for other countries)
5. Passport (All non-blank pages)
6. VISA/Work-Permit
7. Residence Address Proof in the Country of Residence/Work - Electricity/Gas Bill, Telephone bill etc
8. Passport Size Photographs (The number may vary from bank to bank. They will atleast ask one photo)
9. Latest Credit Bureau Report (Wherever applicable. For country's like US, Singapore etc this will be required)
10. A Cheque favouring your bank for the Processing Fee
Why it student needs to know about business finance?
Students need to know about business finance to prepare for the future and to make sure they would be successful businessmen/women.
Why television is called one way communication?
Because by itself, you can only receive information, there's no facility to reply. Everything is broadcast to everybody, there's no way for the broadcaster to know who has received it, and no way for the receiver to interact with the broadcast.
Example from the receiver's point of view:
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Satellite companies like Sky would love to have a two-way conversation with a digibox to update a change in subscription. But all they can do is regularly broadcast the personal code for your Sky card to every satellite user, which your digibox will receive and update your subscription and decode the signals broadcast to everybody.
Because they don't know if your digibox was switched on, they will keep broadcasting the same codes over and over again for weeks or months. But if you stop your subscription and then leave your digibox turned off for 3 months, the subscription change will probably not be broadcast any more and you'll still have your subscription.
Increasingly, your television set will be able to use both one-way communication signals and two way communication, so you need to understand like this:
- Anything coming through a TV aerial is one-waycommunication.
- Satellite can be two-way... it's technologicially possible. But it's expensive, and isn't used like that for TV transmission at the moment.
- Anything broadcast via an internet system or using your telephone line is two-way communication.
What is the best bait for catching a mouse?
In my experience, chocolate and cheese works the best, but I think you might want to buy a mouse trap first :')
As long as you keep the original house as your primary residence and remain in it "for the greater number of nights in a year" you will not have to repay.
Caution: If your new purchase is in a different local and a W2 shows your employment being in that new local, odds are you will have to repay so don't try to hold onto the original house and just tell uncle sam it's your main residence.
You need to check the terms of your divorce decree. All your property should have been addressed at that time. It sounds as though you and your ex-spouse still own property together. You need their signature to sell or refinance. Perhaps you should try to buy their interest and then refinance on your own.
How you can check your name in blacklist and how you want to cleared?
To check if your name is on a blacklist, you can start by contacting the relevant organization or authority that maintains the list, such as financial institutions or government agencies. They may have online tools or customer service representatives to assist you. If you find your name listed, you can typically request a review or appeal process to clear it, often requiring documentation to prove your eligibility or rectify any misunderstandings. Following their guidelines and providing necessary information will help facilitate the clearance.
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How much would be a down payment for second time buyers?
Being a second time buyer has nothing to do with the amount required. The down payment as a % of the purchase price depends on the loan program the buyer has selected. A VA or USDA loan may not require any down payment. Conventional loans may require 5, 10 or 20% down. FHA requires about 3.75% down. It is not a "one size fits all" proposition.
Does your spouse have to pay half of the mortgage if he moved out?
If your husband simply moved out there is no way you can make him pay the mortgage without seeking a court order. Since you both signed the mortgage the lender will hold each of you responsible for paying the mortgage. It will not hold you responsible for only half. The simple fact is that if the mortgage isn't paid on time the lender will take possession of the property by foreclosure.
In the case of a divorce, the disposition of marital property will be decided by a judge if the parties cannot agree. There is no way to predict what the judge will decide in your particular case because there are numerous factors about your case in particular that the judge will consider:
- length of marriage
- ability of the parties to gain assets in the future
- minor children
- income levels
- ability to earn income in the future
- value of the property and amount owed on mortgage
- etc., etc., etc.
If your husband simply moved out there is no way you can make him pay the mortgage without seeking a court order. Since you both signed the mortgage the lender will hold each of you responsible for paying the mortgage. It will not hold you responsible for only half. The simple fact is that if the mortgage isn't paid on time the lender will take possession of the property by foreclosure.
In the case of a divorce, the disposition of marital property will be decided by a judge if the parties cannot agree. There is no way to predict what the judge will decide in your particular case because there are numerous factors about your case in particular that the judge will consider:
- length of marriage
- ability of the parties to gain assets in the future
- minor children
- income levels
- ability to earn income in the future
- value of the property and amount owed on mortgage
- etc., etc., etc.
If your husband simply moved out there is no way you can make him pay the mortgage without seeking a court order. Since you both signed the mortgage the lender will hold each of you responsible for paying the mortgage. It will not hold you responsible for only half. The simple fact is that if the mortgage isn't paid on time the lender will take possession of the property by foreclosure.
In the case of a divorce, the disposition of marital property will be decided by a judge if the parties cannot agree. There is no way to predict what the judge will decide in your particular case because there are numerous factors about your case in particular that the judge will consider:
- length of marriage
- ability of the parties to gain assets in the future
- minor children
- income levels
- ability to earn income in the future
- value of the property and amount owed on mortgage
- etc., etc., etc.
If your husband simply moved out there is no way you can make him pay the mortgage without seeking a court order. Since you both signed the mortgage the lender will hold each of you responsible for paying the mortgage. It will not hold you responsible for only half. The simple fact is that if the mortgage isn't paid on time the lender will take possession of the property by foreclosure.
In the case of a divorce, the disposition of marital property will be decided by a judge if the parties cannot agree. There is no way to predict what the judge will decide in your particular case because there are numerous factors about your case in particular that the judge will consider:
- length of marriage
- ability of the parties to gain assets in the future
- minor children
- income levels
- ability to earn income in the future
- value of the property and amount owed on mortgage
- etc., etc., etc.
Is it easy to get a FHA Gov loan?
"no is not easy. The Federal Housing Administration (FHA) runs several programs to promote home ownership. In most cases, FHA loans are mortgages obtained with the help of the FHA. With a small down payment, buyers can purchase a home. FHA loans make it easier for people to qualify for a mortgage, but they�۪re not for everybody."
Can I finance my home remodel by getting a home equity loan?
"The short answer to your question is yes. Home equity loans are designed to give the home owner the ability to access some capital by taking a loan against the equity in your home. These types of loans are often used for home improvement projects, and larger purchases as an alternative to using credit cards or other loans as home equity loans tend to be lower interest loans."
What is a reverse mortgage lead?
A reverse mortgage lead is where you can get names of people that are interested in getting a reverse mortgage. These leads should already have been screened to meet the criteria for a reverse mortgage.
