Mortgage Insurance

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).

1. 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!

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.

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.

These days it is typically paid by cash, check or charge.

The term Mortgage Insurance can mean different things to different people and in a variety of situations. I have heard it refer to life insurance designed to pay off a mortgage balance due to death of an insured person. another type of Mortgage Insurance is products such a PMI, which indemnifies a bank or mortgage company in the case of a default on a mortgage loan. In this type of mortgage insurance the person who takes out the loan pays the premiums through their house payments, but will not receive any benefit from the insurance as the only one who gets paid is the bank or mortgage company. The insurance company can then still come after the borrower for the amount of their loss.

The purpose of acts in plays is to break up the storyline into segments or sections. Each act typically represents a different part of the plot, allowing for transitions between scenes, changes in setting or time, and building suspense or tension throughout the performance. Acts help structure the play and provide the audience with natural breaks to digest the story.

Title insurance and mortgage insurance are NOT the same.

Title insurance policies are written to cover a specific tract of land and can be offered to either the mortgage lender (called a lender's policy) or the purchaser of the property (called an owner's policy) and is usually paid out of closing costs. Title insurance protects against any hidden defects in the title to the property that would not be disclosed by a search of the public records, such defects including, but not limited to, a forgery of an earlier transfer document, a missing heir of a previous owner suddenly appearing to claim an interest, or human error in indexing the records. Most mortgage lenders will require a title insurance policy and will pass the cost on the their borrower. Owner's policies are usually optional but highly recommended, as they usually require only a very low one-time payment and can prevent potential attorneys fees and other costs, in a dollar amount up to the purchase price of the property. The insurance policy will protect an insured owner for life, even after he or she moves away from the property.

Mortgage insurance policies are written to cover a specific loan solely to protect a mortgage lender. Mortgage insurance is meant to protect the lender in the case the borrower defaults and does not make his/her payments, so that the lender must foreclose. This policy is most often required when the borrower does not have enough "ownership" in the value of the house relative to the loan amount. (The typical requirement is at least 80% equity, which for a buyer translates to a 20% or higher down payment.) It allows a buyer (in the case of a loan made to purchase property) who normally would not have enough cash for a down payment, or an owner (in the case of a loan made to refinance property) who does not yet have enough equity in the home to still obtain a loan. The conventional belief of financial institutions is the less a borrower feels he has invested in the house, the more likely he is to "walk away." The mortgage insurance is meant to make up the difference in the debt-to-equity ratio. It, too, is a cost passed along to the borrower, but as part of the monthly mortgage payment. With loans insured by the Federal Housing Administration (FHA) program, an up-front mortgage insurance payment will also be required, usually about 3% of the loan amount, paid at closing. Federal law allows the insurance to be cancelled, as it is no longer deemed necessary, once the borrower gets enough equity in the property over time, as he makes payments toward the principal balance of the loan.

This depends on what you mean by mortgage insurance. If you are talking about products like PMI (Premium Mortgage Insurance) look on your escrow billing and it will be listed. If you are talking about a life insurance policy that would be either through credit life with your mortgage company or separately through an insurance company.

This insurance covers the mortgage debt if you should face an untimely death before it is paid. There are life insurance policies that carry optional mortgage coverage insurance that in many cases are more beneficial than what you would receive from your bank. Do some shopping around before making any decisions.

That is typically one of the contingencies that mortgage insurance will pay. The other tends to be when someone loses their job.

When a loan is paid off, the mortgage company gives an estimated payoff amount. This is based on a specific date. If the payoff date is before that date, the interest amount will be less than estimated. The excess payment results in a refund called an ESCROW BALANCE REFUND.

Increased mortgage rates for a homeowner mean their mortgage payments increase. Additionally, less money will go towards reducing the principle with an increased interest rate.

If you mean mortgage protection it is usually the amount you require per month eg £100 of insurance cover per month might be £6 per £100 for example

If you are talking about bldgs insurance then the lender should tell you in their estimation of how much the property would costs to rebuild and you should insure this for a minimum of that amount.

FHA Mortgage Insurance Premium (MIP) is a fee charged by the Federal Housing Administration (FHA) to protect lenders against losses in case of borrower default on FHA-insured loans. This insurance is required for all FHA loans, regardless of the down payment amount. MIP consists of an upfront premium paid at closing and an annual premium that is divided into monthly payments. It helps make homeownership accessible for borrowers with lower credit scores or smaller down payments.

We need to fax over a copy of declaration page to BAC. Need a fax # for the Insurance Dept.

They have several to make it as confusing as possible to work with them. We waited 14 months for our modification after being told to make the work out payments until they completed the paperwork which they stated would take 90 days. We did this while they proceeded with a foreclosure process.

Though I understand that the Government Program Making Homes Affordable requires they provide principal reduction and 4.5% interest rate for 30 years (which they stated on 11/24/2009 we qualified for), the final modification came through with 7.75% for 30 years and a $40 savings from our original loan payment. Additionally, they are taking the 14 months of back payments on to our equity (which is $150,000 below the mortgage), so we've lost 3 or 4 years of payments that were never late until we lost our jobs.

Anyone up for a class action lawsuit? I believe they are reporting to the government that they are modifying fairly (but only doing so in areas where the real estate market is bad (low income areas), and they don't have a chance of reselling the property....

If your property is in a flood plain or your mortgagor requires flood insurance, no, you cannot cancel flood insurance.

So in case they get into an accident their insurance can pay for the damage.

-becuase if you dont have insurens on your house and i burns down in a fire, you have to pay for it all by yourself. if you get in a car reck or if someone totals your car, you have to pay for the dammage. with ensurance you pay a monthly fee and if something like that happens your covered.

I need to report my father's death and collect on his life insurance policy.

The purpose of the National Reclamation Act was to set aside federal lands to collect rain runoff and replenish lakes and streams. It was passed in 1902.

The Elkins Act was imposed to stop the practice of rebates from railroad companies. It was supported as a way to end the influence of certain organizations that used railroads to transport goods. The organizations often sought out rebates from railroad companies after travel was completed.

two different types of death insurance (A+)

If it is an FHA loan, you will pay Upfront Mortgage Insurance (around 1.75% of the loan amount) at the time of closing ( usually added to the balance of the loan ). Then you will pay a monthly MI payment ( about .55% added to the interest rate) every month.