Home Equity and Refinancing

These loans generally are tied to the prime rate, and may be tax deductible. They are usually revolving lines of credit with little standardization

Mercantile financing is typically done through the sale of mercantile paper. Mercantile paper is a note, acceptance, or bill of exchange made or endorsed by concerns engaged in jobbing, wholesaling, or retailing of commodities

This type of mortgage vehicle gives the borrower the benefit of a low initial rate with the option to refinance to a fixed-rate mortgage at about half the typical refinance cost.

The higher monthly costs make the 15-year loan available mainly to affluent borrowers. This has helped keep default rates low, making it a good intermediate term asset for portfolio lenders and attractive to investors

These organizations specialize in personal loans, which are cash loans to individual borrowers for such purposes as refinancing payments on medical bills, taxes, and insurance premiums.

They represent products offered by the largest financial institutions that are indirectly supported by government sponsored secondary market institutions, such as Fannie Mae and Freddie Mac

Investment companies are typically involved in three activities: investing, reinvesting, or trading securities; issuing face amount certificates of the installment type; and holding investment securities

If you default on the loan, yes.

conventional mortgages

You check to see if you purchased mortgage insurance.

when you get a call that is not blocked but straight through it is toll free

Lucy Addairo

That depends on a couple things: what taxes do you mean? estate or property taxes?

Most states have property taxes, which must be paid regardless of the status of the owner.

In 2010, the estate tax was repealed. So, no taxes should be due on the home to transfer it to your mother's heir(s).

IRAs in an estate would be handled differently, since the income is tax deferred.

Complicating things slightly: if you inherited the house but didn't sell it immediately, you would have to pay a capital gains tax on the increase in the value of the house. Your "basis" in the house would be its value at the time you inherited it; you subtract that from what you sold it for, and pay tax on the difference. If you inherited it 15 years ago, that could be substantial.

Generally, yes, since the home will be used to secure the loan.

If there is a will, the executor makes all mortgage payments from the estate of the deceased.

No

A government may deliver services by direct payment or indirectly by subsidy through a reduction in tax. For example, the deduction for home mortgage interest provides a tax subsidy for investing in housing.

Yes. If you qualify for an amount high enough to cover the first mortgage. You should make certain it will be to your benefit.

I served (1) the civil process clerk for the United States Attorney for the state (there is a federal civil procedure rule for guidance here) and according to the state laws for service as well, with a copy sent directly to the headquarters in Washington DC.

FNMA might not need service upon the civil process clerk but FHFA has taken conservatorship, plus the FNMA has a special position with its own federal charter.

About 20 cents.

Yes.

Generally, yes. That can be confirmed by a visit to the land records office where you can perform research to find out who owns a property.

In another sense, in a title theory state, a homeowner who grants a mortgage actually conveys the property to the bank until the loan is paid. The bank can take no further action unless there is a default. During that time the homeowner has equitable title to the property and is considered the owner. When the loan is paid the bank must record a satisfaction of the mortgage in the land records. If the loan isn't paid the bank will take possession by foreclosure and then has the right to sell the property.