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Loans
Money lent to individuals or businesses in return for interest in addition to repayment of principal. Common types of loans include commercial loans, interbank loans, mortgage loans, and consumer loans.
13,117 Questions
What happens when the homeowner dies and has PMI insurance before the mortgage is paid in full?
PMI has absolutely nothing to do with the death of a home owner. There is no benefit to the PMI in this situation. A Mortgage Life Insurance policy would be of great benefit as it would pay off the mortgage on the house at the death of the homeowner.
Can you go back to school if your old student loans are in default?
no you can not. contact the department or company that your defaulted student loans are located at. some have a repayment/rehabilitation plan. When you complete this you can go back to school. best of luck!
Not as a loan but if you put it into an account such as savings or checking it can then be taxed
A loan is NEVER taxable. (If you invest the money in something, say get paid interest on it, that interest may be taxable, but the principal of the loan never is). Nor is it's repayment ever tax deductible.
A loan does NOT change or increase your net worth. The amount you borrow is entirely offset by an equal amount you owe. A loan is NOT income.
The receipt of loan amounts that are genuine arms-length transactions where there is a legitimate expectation of being repaid are not includible in gross income, because there is a genuine expectation of a liability arising from the duty to repay, and thus loan proceeds, if the transaction proceeds as expected, do not constitute an accretion to wealth.
Interest paid on loan proceeds is includible in gross income.
Most, but not all, discharges of indebtedness are includible in gross income under Title 26, United States Code, section 61(a)(1) [I.R.C. section 61(a)(12)]. However, see Title 26, United States Code, section 108 (I.R.C. section 108) for specific items of discharge of indebtedness that are excludible from gross income.
yes
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
How long does it take to clear a credit card loans?
Identifying an effective way to clear credit card debt is critical if debt repayments are rising at an unsustainable rate. It depends on your debt amount. However, if you can apply some necessary actions to pay your debt fast, that would be much better. Here are some ways you can do:
You can clear a credit card debt by paying extrra each month. Paying the 2% minimum won't help in-terms of clearing credit card debt. It may surprise people to discover that, if just the minimum payment is made, it will take upwards of 40 years to completely pay off the balance. When savings are available, use them to reduce credit card debt.
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!
Can you go to jail for closing your bank account on a payday loan company?
Can I be charged with bank fraud or any other criminal offense for closing an account on a payday loan?
How does Interstate Home Loan Center offer such low mortgage rates on refinancing?
call them! They have been lending since 1996! www.myequityloan.com is their website
516 938 0022
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.
What is usda home loan program?
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The USDA Home Loan Program is a government insured 100% home loan program offered through the United States Department of Agriculture. This loan is available exclusively to USDAapproved lenders.
Most people living in rural areas qualify for USDA Home Loans. Also, many people living in medium sized cities as well as those living on the outskirts of major metropolitan areas may also qualify.
To find out if you qualify for a no down payment USDA home loan, or to learn more, use the contact form on the right side of the page.
If you prefer you can also check your eligibility for a USDA Home Loan.
http://www.usdahomeloanprogram.com/
If you have a Fmha loan can you pay more in principal and escrow?
you should always be able to pay more on the principle if you have any FHA loan. Escrow you most likely would have to call the individual lender and have them add more to the acct should be okay. Might have to call the tax department.
usafhamortgage.com
usafhamortgage@gmail.com
Difference between interest-bearing and non-interest-bearing debt?
Difference between interest-bearing and non-interest-bearing note.
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.
Are mortgage company required by law to release all of the insurance fund?
After you suffer a loss to your building, the insurance company will send the settlement check to your mortgage company, because they technically own your home. With that said, they want proof that the repairs are going to be done. Some mortgage companies will turn the funds over to you with a written estimate, while others may deliver partial funds to you as repairs are completed.
They are required to release the funds to you because you own the insurance policy, not them. If you are having trouble getting the funds released, communicate the situation with your adjuster for advice. A good insurance adjuster may communicate with the mortgage company to assist you.
See the attached link for details on settling a loss.
What is a written promise issued by a corporation to repay borrowed money at a later date?
It is called a proxy
What is the indulgence clause in loan agreement means?
This is typically found in Guarantees and other bank secueity documents. Such a clause means that should there by any variation of the loan (by the Bank extending credit faciltiites or renewing or confirming security documents) the agreement is still vlaid meaning that th Borrowe would still be entitled to repay the sum despite the variation in the agreement. The indulgence clause is important since without it, the agreement would be discharged as a result of the changes made in the terms.
I heard you should have at least a 680 to get decent interest rates.
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.
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!
Can your PMI go up on a fixed rate loan?
You PMI is an insurance policy that you purchase to protect the bank or mortgage company against the loss of you being foreclosed on. Generally, once you get to the point where you owe 80% or less than the value of the property financed, you will no longer be required to pay for PMI. You will have to question this with your bank continuously as they will not automatically remove this coverage. PMI helps you in absolutely no way possible. If you are foreclosed upon and your home is taken, the PMI company will pay the bank for their losses, take your home, then sue you for their losses. Get out of this asap.
