Loans

Usually this information is in your agreement (the "Note"). Typically if you close in May, your first payment will be in July. You can call your mortgage company for the information, or check in with the bank or broker where you got your loan.

Make an appointment with your bank and explain the situation. Do not ignore the problem. The bank does not want your vehicle. Quite often they will accept a lower payment, it makes the loan more expensive but much cheaper than taking out another loan.

the value of mortgaged property does not matter, bank has to stick to its acceptance of the value.

You can you take out a loan if you own the car and have the free and clear title by going to a high-risk lender. This type of loan is called a title loan, and the lender will put his name on the title to your car until the money is repaid.

The usual legal recourse for the cosigner when the person named as the primary on a loan has defaulted, is to make the payments on the loan. Then, the cosigner can take the person who defaulted to court to try and recoup some of the money they are out. If the loan was for a car, some states allow the cosigner to take possession of the car and sell it to recoup losses also.

Yes, but the existing mortgage (and interest on bridge loan) will be a factor in the points and interest on the new mortgage, as the initial risk to the lender is higher.

It Meanns Tew Excnahge

yes...........but you will pay a much higher interest rate and your homeowners insurance will also be much higher Probably not.

No you don't have to if you can find a better rate someplace else you can go there. Its just the person that pre-approved you isn't going to like you very much because he lost a commission. :) but that's their fault if they couldn't give you a better rate...

If we are asking about how a college student can get a home loan then the answer is many: 1. If you work and can qualify for a home loan then you can buy a property on your own. 2. If you want to buy a property because you will be near a college for many years, like medical students do, you can have your parents co-sign for a loan, or have a family member purchase the home in their name and sell it to you via another contract. 3.If could get a stated income loan to pay for the property. In this situation you will need good credit, some down payment money (depending on the market we are in) and someone who owns a business and can say you work there with them. 4. You could find a homeowner that wants out of their house now and is willing to let you take over payments, transfer ownership to your name.

Most mortgages are fully amortizing. Meaning the pay the principal down to 0 over the term. Many today have special payment schedules that allow lower payments originally, even less than the interest due so the principal even grows while your making payments.

On just about any mortgage, the amount of the payment that is principal vs interest changes literally with every payment. You need to refer to an amortization schedule for your specific rate and terms.
Standardly at first virtually the entire payment is interest. The last few years virtually the entire payment is principal.

Yes. However, you should be fully aware that if the primary borrower does not pay you will be responsible for paying the mortgage. You have no other rights in the property.

It all depends on the sells price of the house your looking at purchasing.

Brokers earnings vary.

Much of this depends on the type of broker and what they are brokering.

If someone brokers large ticket items their earning will be much higher than one who brokers lower ticket items.

There are many types of brokers. Each pays the broker in a fee or percentage of the transaction.

Money brokers are known to make high income amounts. They are not however the exclusive broker earners.

Most brokers earn high returns for their invested time.

If you don't pay a loan when due, you default on the loan.

Prepare and incredible business plan. That's the first step. Make sure you are objective about dollars and cents. We all think that we are going to be a booming success right off the jump, but that is rarely the case. You didn't say if you had a detailed plan, where the property will be located, whether you have money to put down, if an established company will be signing to borrow the funds, or if you planned on signing the promise to pay on your own. All these questions and more need to be answered to direct you to the best place to accomplish your goals. If you need assistance, there are many local volunteer agencies now that are ran by former top business men and women. Most are retired from very successful companies and donate their time to help up and coming entrepreneurs. These women and men are INCREDIBLE sources of information for what it takes to make a business really work. They have run into just about every problem you can imagine in their lives. I have found that they often have many connections that become just as valuable as their knowledge. Of course, most of the old timers will not be up on the new technology that is available, but you aren't asking them to program your VCR, you are asking them how to be a success in the long run. I hope this at least answered some of your question. If you want to give more info about where you are in the process, I'd be happy to help you with a laundry list. GET CONNECTED. Making friends is the best way to get anything done.

This could stay on your credit report for as long as 7 to 10 years if the company continues to report to the credit reporting agency. If they don't it could drop off in 3 years. I work for a used car business and pull credit reports all the time. I have great knowledge in this area.

Foreclosure makes your credit score go down. If you already have a car loan, this shouldn't change anything. I've never heard of them changing the interest rate. Credit card companies however can do almost anything they want. If your credit score goes down significantly, they can raise your credit card interest rate. Even if you've always paid on time and never had any problems with them.

No, it isn't too soon to apply for a personal loan. Listen, there is an approach to building your credit history and using your bank to help. First you need to open a savings account with a deposit of $1,000.00. Then a few days later apply for a secure loan using your savings account as security. Pay on it for six months after that pay it in full. From that point on you'll be able to get a personal loan from your bank.

Yes, it's possible and happens a lot. You can simply go to your local DMV w/the title (or call them first to see what all is needed), and transfer the title to the state you reside in. They will take that title, (after properly signed), and send it in and a new title (in same names) will be issued in MA.

yes due to the fact that they are your parents but sometimes depending if child has life insur. they sometimes do not have to pay.

In most states this is possible. Contact a title company or local real estate attorney. You may be able to do a Quit Claim Deed adding yourself to the Title.

This will require the person who is currently on title to sign and approve the addition.

If you use the title company that did the original work for the mortgage they may not charge to draw up the document. My Escrow Officer will frequently do these documents for my clients at no charge.

You will usually have to pay a small recording fee with your county recorders office.

Theoretically, you can obtain a line of credit once you have closed on your home. An equity line of credit would be based on the difference between the value of your home and the current mortgage. Depending on how long it has been since you have owned the home, a lender may either use the purchase price or the current appraised value to determine what to offer you. They will also consider the usual employment, income and debts that you currently have.

Firms often avoid extremely leveraged capital structures due to the increased risk of financial distress and bankruptcy associated with high levels of debt. While debt offers tax advantages through interest deductions, excessive leverage can lead to higher costs of capital and operational constraints. Additionally, firms may prioritize maintaining financial flexibility and stability to navigate economic downturns or unexpected challenges. Ultimately, the potential benefits of tax savings are often outweighed by the risks of over-leverage.