Home Equity and Refinancing

Yes, if the individual has an outstanding credit history AND the equity in the home is still high enough to support the second mortgage.

There are certain interest rate environments that warrant refinances and the current environment, with rates as low as they have been in decades, represents one. The difference, however, vs. other low rate environments is that homes have lost a significant amount of value, putting new and even a subset of existing home equity lines of credit in jeopardy.

believe it or not a significant amount can be saved in total when extra payments are made. remember you are paying taxes and intrest on the total amount. so if the total amount owed is even a few dollars shorter you could save thousands over the term of thirty years. i am not able to give you an exact amount because you did not post the actuall cost of your house or the amount of monthly payment or you insterest rates, but you can definetly save alot of money in the long run even with a few dollars extra each month paid twords your moragage. best of luck to you. prayer is power.

the montly mortgage payments go up or down from year to year.

If you reside in a CP state all debts incurred during the marriage are considered joint regardless of which spouse is the account holder. If the debts were made by the debtor spouse before the marriage the 'innocent' spouse is not responsible for the debt(s). However, the joint marital bank account can be levied and/or liens placed against real property to the extent of the ownership of such by the debtor spouse.

In non-community property states, the spouse who is the account holder is the only person responsible for the debt. However, a joint bank account not held as TBE can be levied by a judgment creditor as well as an encumberance of a lien against jointly owned marital property unless it is also held as TBE.

most homes have mortgages

so if you want to find homes without mortgages you'll just have to tell the realtor if they can lower it for you

Let us take into consideration the following entities that would be used during the explanation.

Bank 'B' - The Bank that is issuing mortgage loans

Customer 'C' - The person who has taken the mortgage loan from the bank

Agency 'A' - The Agency that is going to create the MBS

Investor 'I' - The person who is going to purchase the MBS

Customer 'C' approaches Bank 'B' with the request to issue a mortgage loan of Rs. 1,00,000/-. After all the scrutinizing process 'B' decides to grant a loan of Rs. 1,00,000/- to 'C'.

Agency 'A' buys the mortgage loan that was granted to 'C' at the rate of say Rs. 90,000/- and then packages it into a bunch of securities each with a face value of say Rs. 100/- each. Which means 'A' would be creating 1000 units of the MBS. These MBS units would be available for sale in the open securities market for investors to buy. Our Investor 'I' decides to buy these MBS units. He makes a payment of Rs. 1,00,000/- to 'A' and purchases the units. In many cases 'A' may opt to retain a portion of these units based on the loan mixture to generate revenue for itself.

'B' can now use this Rs. 90,000/- for granting fresh loans to other customers.

This is how a typical MBS gets created and sold in the open market.

bonds

The Federal Aid in Sport Fish Restoration Act, commonly referred to as the Dingle-Johnson Act, adopted by Congress on August 9, 1950, was modeled after the Pittman-Robertson Act, aimed at creating a similar program for the management, conservation, and restoration of fishery resources.

Funds to support the Federal Aid in Sport Fish Restoration programs are received from excise taxes on fishing equipment, fish finders, motorboat fuels, small engine fuels, and import duties. State agencies that sell fishing licenses are the only entities eligible to receive grant funds. Each state's share is based 60 percent on the number of it's licensed anglers (fishermen) and 40 percent on the size of it's land and water area.

Program funds are used by state fish and wildlife agencies for sport fish management, boating access, and aquatic education projects.

You may be able to find this cleaning product in any home cleaning stores.

It is also available on Amazon.

it can be done in a short time.

The amount of times you apply doesn't mean anything to the underwriter of the modification. He/She is looking for three things:

1) That you cannot pay your mortgage at the current rate according to your financial review

2) That you WOULD BE ABLE to pay ALL expenses if your mortgage payment was modified.

3) The reason you can no longer afford the house is due to an economic hardship (you've had a cut in pay, unemployed, etc)

Yes. You are relinquishing any "right" you may have to that particular property.

You can, if the town home is in an approved FHA complex it makes it much easier. If it is not then you have to apply for a spot approval which is asking for an exception to the requirement that the HOA or complex be FHA approved based on the merits of your particular property.

Bac Home Loans Servicing Lp, Isaoa Atima, PO Box 961206, Fort Worth, TX 76161-0206

This is a form that is signed by a borrower during the loan process that allows the lender to order an income tax return transcript from the IRS. This is used to verify that the lender has been provided with accurate income taxes. They have become more prevalent since the housing market crash.

To conduct a short-sale transaction, the bank(s) holding the mortgage(s) have to agree to a short-sale. If your name is not on the Mortgage, technically you don't have a right to conduct a short sale.

Even if you "own" the house (which will be in question during the entire process), the holders of the Mortgage note(s), typically banks or finance companies, actually have primary ownership of the asset (the house).

If you are able to complete a short-sale, even though you are not on the mortgage note, as an owner the bank holding the note may ask you to take partial responsibility for the difference between sale price and mortgage value, or even to put in equity immediately to avoid a short sale situation. If this occurs, and you cannot pay, you will end up with a debt and a schedule to pay that debt. Adding any debt will negatively affect your credit score.

This likely refers to the process to ensure that a property is clean of other encumbrances and debts before a new mortgage is given. Some examples if these might be past due HOA fees.

No.

Any home equity line uses the underlying property as collateral. A home equity line will only be extended if the following are all true:

* The valuation of the home suggests that there is equity left over after meeting the obligations of the primary/first mortgage

* There is not already a second mortgage outstanding

* The credit worthiness of the borrower is good (score of 720+)

Instant equity is usually only generated through the refinance of a house (revaluing the home upwards from where the valuation was when obtaining the first mortgage). At that time, one may cash out part of that equity increase and apply the amount cashed out to the new loan.

The popping of the housing bubble has greatly reduced the number of refinances that provide for cash out.

It's Aberystwyth

No.

Unless you plan to have two homes you live in (such as a vacation home and a regular home) then you are technically an investor because your current home will generate business income (rent).

SSI is a valid income source and can be used to qualify for a home loan. With most lenders you can even use 25% more than the actual income amount to qualify since SSI is not taxed like other income types (this evens the playing field since employed people use their gross income when its known that it will be taxed before they can use it to repay the loan).

What would the mortgage payment be on 600000