Home Equity and Refinancing

Because houses cost considerably more than cars. You can pay off a house in 5 years, but your mortgage payments during that time would be astronomical.

PO Box 961206

Ft Worth TX 76161

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-No Sound

-A bit confuzing

the 2800 BC......

Since you didn't supply us with the article, we can't help you.

If two people owe a mortgage and one agrees to pay it, the bank is under no obligation to free the other person from their obligations under the mortgage. If the person fails to make the payments both mortgagors will be held equally responsibility for paying the mortgage and in the case of a default it will be reported on both credit records.

The answer is yes, a person can agree to keep paying a mortgage but their agreement will have no effect on the obligations of both mortgagors.

No. Deeds affect ownership of the property. A new deed isn't necessary for a loan modification.

If two people own property together they are each entitled to 50% of the proceeds. The buyer would be obligated to pay each owner 50% unless there is some other written evidence or court order to the contrary. You should consult with an attorney ASAP who can review your situation and explain your options.

That is true

Tax Dept CA6-913-LB-01, P. O. Box 10211, Van Nuys, CA 91410-0211

Try

HSMS

PO Box 88

Croft Road

Crossflats

Bingley

West Yorkshire

BD16 2UA

No. The Internal Revenue Service (IRS) does not and cannot track wire transfers. The BSA (Banking Secrecy Act) forbids it from doing so. However, the IRS can, via a court order subpoena a bank account's details and/or put a monitor on it for account activity, which will naturally then also detect all wire transfers made in and out of this account under monitor.

The IRS can (as we all know) again with proper authorisation, freeze a bank account.

A takeover by a private equity group or groups is a type of takeover where the target company is in effect forced to buy itself at an inflated price. Private equity groups will delist the company from the stock exchange and load it up with a huge amount of debt and sell off key company assets. An example would be the UK company Debenhams where its shops were sold off and then rented back to Debenhams at high rents. Private equity groups will charge the company fees for the privilege of being taken over and will, in a short space of time, pay themselves a hefty dividend. Workers will be laid off and costs reduced to an absolute minimum. After as little as a year they will take the company public again and head for the exit having made a tidy profit and more than likely bankrupted the company. Quite why such criminal activity is legal is any body's guess. This type of takeover is completely different to one company in a sector taking over another. An example might be Ford's takeover of Hertz Rental. When Ford sold Hertz it was in a financially sound condition. After the private equity boys got their hands on Hertz the company was driven into the ground (Read the blogs of Hertz workers).

Maybe, but no homeowner knows in advance how much a bank will accept or even whether it will consider an offer for less than the total amount owed. The best idea is to speak with the bank about getting the principal reduced in a loan modification or allowing the borrowers to pay less than what is owed in order to sell the house in a short sale.

A title commitment is just what it is. It's a commitment. Meaning as long as all of the conditions are met on that commitment, after closing, title insurance will be issued. A commitment is not considered insurance. Your title is not insured until after closing when the new deed and/or mortgage has been recorded. At that point, the title company issues insurance. If you are buying a new home and depending on where you are, you should receive your title policy about 60 days after closing along with either the original or a copy of your deed.

You're really supposed to include ALL your debt in a bankruptcy, especially Chapter 13; you can get by with current month-to-month bills (utilities, etc.), but not mortgages. Most mortgages (including HELOCs) consider bankruptcy itself to be a default, so generally the answer is yes. You need to have your attorney bring the mortgage and HELOC into your plan.

original poster

The answer would be yes, depending. A good rule of thumb is to calculate 43% of your gross income. Then, subtract your monthly payments (credit cards, installment loans and such). You'll be left with a figure that should be close to you eligible amount for a total monthly mortgage payment (principal, interest, taxes and insurance). It would be wise to ensure that even if my calculation allows this total monthly payment to be over 31% of your gross income, that you try not to take a mortgage payment over that amount. Many do, but it stretches them financially.

I hope I'm understanding this right. If you're looking for the term that FHA uses for the minimum down payment (assuming that all other qualification criteria are met), that's called the "Statutory Minimum Required Contribution." At present, it's 3.5%. That 3.5% can't be closing costs and prepaid items, it has to be 3.5% of the contract sales price. It can be person funds or gift funds from a blood relative.

our country's total population is 1.21 billion (upto 2011) and total lending amount from world bank of our country is 9.30 billion (upto 2010)... so you can calculate the individual amount of every citizen...

The three-day right of rescission rule applies to all loans covered under the federal Truth in Lending Act. This is a federal law that applies to loans in all 50 states that fall under the guidelines set in the act. The majority of types of typical loans that homeowners take out on residential properties will be covered by the TILA, and have a three-day right or rescission, including loans in Michigan.

If homeowners owe money on their HELOC (Home Equity Line of Credit), and are not paying the loan back, they can be sued for foreclosure.

The HELOC is secured by the real estate, and the mortgage company has a lien on the home. When the borrowers signed for the line of credit, they agreed that the bank could foreclose on their house if they fell behind on the payments.

Most banks will give potential borrowers a loan commitment, even if the title is not clear because the banks reserve the right to deny final approval and funding of the loan if the title is not cleared by the time of the closing.

A loan commitment does not mean much else than that the bank is willing to lend money to the borrowers based on their credit history and financial status -- not that the home is ready to be transferred and the bank will participate in it.