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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

Can you buy a house after a deed in lieu of forcloser?

It will take at least 4 years under current conditions to recover your credit enough to be considered for a new mortgage. That's if you become the perfect credit consumer. Perfect payment history and perfect credit to income balances.

Do Kansas property owners pay real estate taxes in arrears?

Yes. First half for the current year is due on or before December 20th. The second half is due on or before May 10th of the following year. For example, real estate taxes for 2010 are due on the following dates:

First Half - 12/20/2010

Second Half - 5/10/2011

Bankrupt a home equity loan?

If you lost the home or no longer own it you can do chapter 7 (if eligible) and have this debt eliminated. If you are still in the home and want to keep the home but reduce or eliminate the second look at a Lien strip through Chapter 13.

How is a tax levy different from a lien on your home?

Levy is by a county or municipality for taxes owed. A lien is for money owed on a home or money borrowed against the home.

If you owe back taxes, then IRS or State taxing authorities may file a notice of lien and a notice of levy, but they are totally different. Tax levy is much more serious and usually a levy is the last tool that the IRS will use to collect the tax debt. When IRS puts a lien on your home, they are doing this to assure they will get paid if you sell it. Having a tax lien will affluence your credit rating; you may not get a new credit card or sign a new lease because liens are public record. If you get a levy on your home, it means the IRS is taking action to collect the debt.

Do you need to register my deceased husband's handgun?

It depends on where you are. There is no national handgun registration and only a handful of states require it.

Can you get a home loan if you owe a school loan?

Of course as long as you have the income to support both loans. If you are past due with your school loans the process will be much more difficult.

Who wrote darling be home soon?

John Sebastion. (The Lovin' Spoonful). John performned this song at Woodstock.

But Clapton does a nice tribute.

What is the Bait Bus?

Bait bus ia abput these girls who trick straight guys into haveing sex with the gay guys the put a blind fold ont the straight guy while a gay guy sucks there dick and when the take the blindfold off there not to happy but the girl ofefer them 2 or 5 grand to screw a gay guy but in the end they just drive without paying them

Can you bankrupt a mortgage?

No, a mortgage is a debt, and can't be bankrupt. Only a debtor can be bankrupt, i. e., unable to meet obligations as they become due.

If you mean, can you file bankruptcy and either surrender the property (c. 7) or get caught up by a c. 13 plan, yes, of course.

What guarantees may a mortgage company insist on?

Lenders can require a variety of conditions such as:

  • that you live on the property
  • that you pay your property taxes to the lender so it can make certain they are paid
  • that you not make changes to the title without notifying the lender
  • that if you breach your agreement the lender can accelerate the loan payment

Why would you not just do a 1031 Like Kind Exchange if your real estate is involuntarily converted?

First of all, a §1031

Like-Kind Exchange only applies to

property used in a trade or business

or held for investment purposes.

Therefore, you cannot take

advantage of §1031 if your home

is involuntarily converted. Second,

the rules under §1033 are much

more flexible than the rules under

§1031. For example, the sales proceeds

in a §1031 Exchange must be

held by a Qualified Intermediary

such as the ES Group until they are

used to purchase the replacement

property. However, the property

owner can hold their own funds

in a §1033 Involuntary Conversion

Exchange. Also, when dealing with

property that is used in a trade or business, or held for investment

purposes, the taxpayer has 3 years

to purchase the replacement property

instead of the 180 days one

would have in a §1031 Like-Kind

Exchange.

What if a landlord doesn't pay mortgage with tenants money?

Then the landlords mortgage will go into default and if he/she continues to not pay the mortgage the property will be foreclosed on, and yes, you will be left in on the street. there is nothing that says (unless it is in specifically in your rental agreement) what your land lord has to do with the money.

What is considered a tax credit and what will reduce the taxes you owe?

When any one has a credit amount that you could possibly receive it could be a good thing for you.

Tax credit is a possible amount that you could qualify for IF you meet all of the rules that have to be met for that purpose. You can have a refundable credit amount or a nonrefundable credit amount. And it could be possible that either one could reduce the amount of your federal income tax liability once your federal 1040 income tax return is completed correctly down to the last line on the 1040 income tax return.

Should you be worried that you drank dish soap?

I drank some by accident I'm freaking out man!!!!

The worst thing that can happen to you is that you get a bout of diarrhoea.

Can you qualify for first home buyer loan even if you have bad credit?

It depends on what you mean by bad credit. FHA financing technically has no minimum credit score requirement but in January they announced an increased in the down payment requirements from 3.5% down to 10% down if credit score is below 580.

Additionally, since FHA does not lend directly, the actual lenders may have their own more restrictive guidelines (they're called "overlays") that restrict their loans to folks with credit scores above a certain number (typically 620) or charge a higher fee or rate below a certain score.