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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
How do you get out of a second mortgage when the house has been sold on a short sale?
How do you get out of a second mortgage when the house has been sold on a short sale?
Who holds the record for the fastest land powered vehicle on land?
street legal or like rocket cars (land speed record cars)
Not sure on the illegal ones but legal is the mclaren f1 (not f1 lm)
Where to find assessors parcel number?
Assessors parcel number can be found on Tax Sheet. It can be also found on the Assessor Map
What is the maximum annual percentage rate for visa?
The annual percentage rate may vary but it can be increased to an 18% APR.
What is the Difference between machine op and pseudo op?
A pseudo-op is an assembly language instruction that specifies an operation of the assembler i.e
about the base register & its contents e.g. USING instruction. On the other hand, a machine-op instruction. That
represents a machine instruction to the assembler e.g. BR instruction is a machine-op instruction
What should you do if you need to refinance but you are underwater with your mortgage?
There is a program that can help you and the others. I think the company is Freedom USA Investing and they help people with underwater mortgages. They are able to put equity back in the property. The website is "refinanceunderwatermortgagehelp" {dot} com.
The program is able help 99.9% of the people who are underwater and can put the equity back into their property. Nothing like the government programs. Which they have you jump through a bunch of hoops only to tell you, you dont qualify.
http://www.refinanceunderwatermortgagehelp.com
Check it out. you got nothing to lose. It might be able to help you and others.
Take care,
Who is the C.E.O for BAC Home Loans Servicing?
Brian T. Moynihan is the President and CEO of BAC Home Loans Servicing, LP. His address is 100 North Tyron Street, Charlotte, NC 28255
Can you pay your mortgage online?
A large number of people pay their mortgages online. It depends if your bank allows on line payments and if the mortgage company allows on line payments. You will need to contact both of them to find out. If they do, then you will need to get the paperwork.
i use to pay by maill and some time by phon
but becoue of the snow i could not send icoll no body working on weekend
What are the requirements to get a loan for an investment property?
That will depend on the type of financing you are looking at. Traditional loans will each have their own specific requirements and you may not be able to qualify for a few of them as you are looking to purchase an investment property.
There are lenders that loan specifically to investors and cater their requirements to that audience. The interest rates tend to vary from 6-12% depending on the lender and your experience as an investor.
Real estate investing is all about the contacts you make, as well as your experience in the field. Many lenders want investors with a solid background and good portfolios.
Hard money lenders can be another option for investors, though these typically are for short term financing or quick means financing. Hard money lenders base their loans off of the property rather than the borrower's finances.
Feel free to visit our website for more information on the types of lending available for investors. There are also plenty of great real estate investing forums available on the internet as well.
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According to me,you can also make money from it in other ways - as you can rent it out to other people and permit them to settle there at a definite cost. This way you then have an expected sum coming in from their rental fee, possibly sufficient to pay off or help towards your finance repayments and you again have people residing in the home to make certain it all continues running well. Furthermore, a lot of times, when you sell your property in future, then the rents accumulated, will be roughly all profit, with very little of your loan consuming into that.
In conclusion, when you come across some property, having a liking for, on no account, be indecisive to make an offer. Most costs are flexible and if you do not make a proposal, you will never make out whether you can acquire it or not. Hence, never vacillate and state your conditions of acquisition plainly. Also, it is essential to make sure that your investment property is liberated of all sorts of legal problems.
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Depending on your credit history, your income, what you have in savings, your expendable income, and how much you are seeking, will all definitely determine whether or not you actually qualify for any type of loan, much less a loan to invest in property. Property investment loans are high risk now because of the fluctuations within the housing market.
You should sit down and do a budget and assess your personal financial situation first. You need to make sure that you will be able to handle any potential risks involved. Also, it's important to remember that your money will be tied for a certain period of time, so you'll be making payments on the loan until you make your profit. Make sure this is also something that you can handle.
Here are some possible ways you can invest in property if you don't have the money to invest:
Assess your finances and borrow money--possibly against your house, or even from family and friends (make sure to get a signed contract that you will pay them back once a profit is made)
Look into seller financing--some sellers may be willing to make it easier for you to buy
Lease property that has an option to buy--some of your monthly payments would go towards the purchase
Some property owners may be willing to work out a trade--possibly for land you already have or a skill you can use to work off the down payment
Take over mortgage payments
- Find a partner--you've got the brains and the plan, and they've got the cash!
What is a mortgage security instrument?
If I am separted from my husband and not divorced yet can he get a Mortage (Security Instrument) on land that he purchased before we were married but now has my name on the deed without my signature? Or if he has asked me to sign as the mortagor because my name is on the deed of the land, am I acutaly obligated to that debt?
What is best wire transfer or bank transfer?
A wire transfer is where money is sent to someone else at another location,a transfer is when money is taken from one account you hold and put into another account you hold. It's a different process. A transfer is usually much quicker than a wire. I don't know how helpful this was, but there you go.
Nope / False
How does an agency mortgage differ from a non-agency mortgage?
Agency simply means that the loan is backed by either Fannie Mae of Freddie Mac. These loans typically have lower interest rates than non-Agency loan programs, but are more difficult to qualify for.
What is average owner's equity?
(Owner's Equity [beginning] + Owner's Equity [end])/2 (/2 means divided by two)
The purpose of the British Act in 1766 was to?
Declaratory Act, (1766), a declaration by the British Parliament that accompanied the repeal of the Stamp Act. It stated that the British Parliament's taxing authority was the same in America as in Great Britain. Parliament had directly taxed the colonies for revenue in the Sugar Act (1764) and the Stamp Act (1765).
What is the pH number for bac home loan service?
- Wilshire Credit Corp. (a mort. servicer) has said that they have transferred our mort. to BAC Home Loans Servicing the number that Wilshire gave to me is 1-800-669-6607 My advice is to be sure that this is a correct # for such company. The mortgage servicing and transfers are a joke!
Should one place regular savings in revocable trust?
The purpose of a living trust is to avoid probate when you die. This can only occur if your assets are titled in the name of your revocable living trust. Therefore, as a general rule, all of your assets should be retitled in the name of your living trust with two exceptions. Read more at
http://sandiegoestateplanningblog.blogspot.com/2010/02/should-one-place-regular-savings-in.html
What is chase mortgage additional interest address?
This probably depends on where you live. Your absolute best recourse is to call Chase mortgage and ask them. Sure you can ask someone else, guess at the address, but none of this will help you if it's not correct. Just call them or look in your payment book, or on their website.
Generally:
If you signed a promissory note the family member can sue you and obtain a judgment lien. Once recorded you cannot sell or mortgage the property until the lien is paid.
Your family member cannot take your home unless they recorded a mortgage in the land records that reserved the right to foreclose. If they foreclose, they would take the property subject to the mortgage and would need to make the mortgage payments.
Can someone get insurance on a mobile home without having the title to it?
If they have a bill of sale providing proof of ownership, the answer is yes they can purchase insurance on the mobilehome. If there is some kind of contention that they do not legally own the home, it may require more proof to satisfy the company.
What if you stop paying on my second mortgage?
They'll probably, eventually, foreclosure.
(second response)
The first lien holder will pay the second lien holder to prevent them from foreclosing on the property. A second lien would never get away with this, but if they did, boy would they be in the money.
Imagine if you took a home equity loan out on a $200,000 home for $25,000 dollars. You stop paying on the second lien, and they foreclose. Their $25,000 investment just returned $200,000. Be a hell of a day for a bank.
Flip side is, if a home with 2 liens does go into foreclose, the second (junior) lien gets nothing.
