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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
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.
the answer would be 20%,you would divide 1840 by 9200
What is the Home Owners Refinancing Act of 1933?
The act, which went into effect on June 13, 1933, provided mortgage assistance to homeowners or would-be homeowners by providing them money or refinancing mortgages.
What is prepaid interest charged by a mortgage company called?
Points are upfront mortgage interest that you pay the bank in order to reduce the rate that you pay over the life of the loan.
Are discount points worth it? Sometimes yes. Sometimes no.
The general "buy down" is what we call it in the industry is that you pay a half of a point to get a 1/8 reduction in your rate for the life of the loan.
That's a general rule of thumb. Doesn't always apply, but that's a general rule of thumb. A point is 1%. 1% is one point. And if you're borrowing a hundred thousand dollars, that's $1,000. But if you figure out what the savings are over time, you'll find that by paying half a point or one point you'll usually benefit in the long run.
How do you get a loan payoff at Bank of America?
Bank of America Mortgage Payoff Phone Number: 1.800.763.1255
A pre-approved amount of open-end credit based on a borrower's ability to pay is called a?
Line of Credit
$57,300
When was Olivet home Ballygowan?
Olivet Home in Ballygowan, Northern Ireland, was established in 1971. It was designed to provide care for older people, offering a supportive environment aimed at enhancing their quality of life. The home has a strong community focus and continues to serve the local population.
How is a Pecuniary Bequest for first time home buyer eligible for the tax credit?
Considered unrelated party.
If you are married but your name is not on the deed can you claim the house on your tax return?
No. You can deduct home mortgage interest only if you meet all the following conditions.
You must file Form 1040 and itemize deductions on Schedule A (Form 1040).
*You must be legally liable for the loan. You cannot deduct payments you make for someone else if you are not legally liable to make them. Both you and the lender must intend that the loan be repaid. In addition, there must be a true debtor-creditor relationship between you and the lender.
*The mortgage must be a secured debt on a qualified home in which you have an ownership interest. (Generally, your mortgage is a secured debt if you put your home up as collateral to protect the interests of the lender. The term "qualified home" means your main home or second home. For details, see Publication 936.)
Can you get a house loan without a job?
It is not likely unless you have some other way to guarantee you can make the mortgage payments.
Renewal of pledge of allegiance by Muslims to prophet mohammed when he was on pilgrimage to Mecca under hostile and threatening reaction by mecccans to this move
1. A wind system that influences large climatic regions and reverses direction seasonally.
2.a. A wind from the southwest or south that brings heavy rainfall to southern Asia in the summer.
b. The rain that accompanies this wind
How do you calculate the debt to income ratio?
See, it has to be a ratio of your total monthly income and your total monthly debt payments.
First of all, you should add your monthly income. On the other hand, you have to add your monthly bills e.g. rent, car loan, phone etc. Your total credit card outstanding balance has to be divided by 12 and the figure that you achieve has to be added with your total monthly bill payments. Thus, you arrive at your debt payment each month.
You must ensure that your debt payments shouldn't exceed 50% of your earnings. You can use a debt-to-income ratio calculator to know the correct figure.
an arm and a leg...
A work share mortgage is when more than one title company prepares the title.
Formula for setting a credit line?
divide sales by 365 days add A/R days and inventory days together and subtract A/P day outstanding divide avaerage dail sales by cash conversion cycle
