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Can you get approved for a new mortgage if you have an existing home which is being rented out?
Yes, you can. You add the rent to your income and add the payment to your monthly bills. The difference is called "positive cash flow" and it's ideally what you want to have or you will be losing money as a landlord. Owning rental property and making the payments on time with positive cash flow is a good thing when trying to get a mortgage, HOWEVER if you are getting a mortgage for more rental property, expect to pay a higher interest rate. The key is to finance it as your primary residence and live there for a while before converting it to rental property.
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What is the purpose of mortgage protection life insurance?
The purpose of mortgage protection life insurance is to protect the home from being lost in the event the mortgagee passes away. The life insurance will pay off the balance of the existing mortgage to the finance company.
Are foreclosure sales by Master in Equity in South Carolina subject to the prior Owners mortgage debts and other liabilities being passed on to the auction Buyer or do these old debts get cancelled?
Foreclosure sales in SC are subject to taxes, assessments, existing easements/restrictions of record, and any senior encumbrances. Basically, the mortgage being foreclosed on "goes away" and you are provided with a title to the property that is not warrantied to be free and clear.
Is tithing an acceptable monthly expense when being considered for mortgage loan modification?
Is tithing an acceptable monthly expense when being considered for mortgage loan modification?
Who benefits the most by the inclusion of a subordination clause in a mortgage?
It depends on what is being subordinated. Generally, the lender. Homestead exemptions are often subordinated to a mortgage and that benefits the lender.It depends on what is being subordinated. Generally, the lender. Homestead exemptions are often subordinated to a mortgage and that benefits the lender.It depends on what is being subordinated. Generally, the lender. Homestead exemptions are often subordinated to a mortgage and that benefits the lender.It depends on what is being subordinated. Generally, the lender. Homestead exemptions are often subordinated to a mortgage and that benefits the lender.
Is it possible to get a new mortgage on a mortgage free home without income verification?
That is not likely. The main factor in being approved for a loan is not whether there is debt on the property but whether youcan repay the loan. The lender will verify your income to make certain you have the ability to repay the money they loan to you.That is not likely. The main factor in being approved for a loan is not whether there is debt on the property but whether youcan repay the loan. The lender will verify your income to make certain you have the ability to repay the money they loan to you.That is not likely. The main factor in being approved for a loan is not whether there is debt on the property but whether youcan repay the loan. The lender will verify your income to make certain you have the ability to repay the money they loan to you.That is not likely. The main factor in being approved for a loan is not whether there is debt on the property but whether youcan repay the loan. The lender will verify your income to make certain you have the ability to repay the money they loan to you.
You are being offered a ginnie Mae for a re-fi on your existing home mortgage should you be concerned?
are subprime mortgages dangerous
What is the purpose of mortgage protection life insurance?
The purpose of mortgage protection life insurance is to protect the home from being lost in the event the mortgagee passes away. The life insurance will pay off the balance of the existing mortgage to the finance company.
What are football stadiums being used for when football is not being played?
The newer ones have really nice meeting rooms that are rented out for business meetings, as well as lounges that are rented out for parties.
How much does a weekend car rental cost for around town?
Car rental prices vary depending on the car being rented. It also varies depending on the date it is being rented for.
Can you get a mortgage commitment before a title search?
Generally, the title examination isn't ordered until there has been mortgage commitment. The reason is that people (buyers) don't want to pay for a title examination if the mortgage isn't approved. However, some lenders give a preliminary commitment that depends on the title being free of defects. In that case they want the title report a couple of weeks before the closing is scheduled.
Can a civilian assume a mortgage of a VA property?
Yes, a civilian can assume a mortgage of a Virginia property. In order to get a loan for a property in Virginia, the person must have a credit check completed. If they have good credit, their chances of being approved for the loan are higher. If they have bad credit, the bank or loan officer may ask for the person to have a cosigner.
Are foreclosure sales by Master in Equity in South Carolina subject to the prior Owners mortgage debts and other liabilities being passed on to the auction Buyer or do these old debts get cancelled?
Foreclosure sales in SC are subject to taxes, assessments, existing easements/restrictions of record, and any senior encumbrances. Basically, the mortgage being foreclosed on "goes away" and you are provided with a title to the property that is not warrantied to be free and clear.
What are existing debts?
Existing: being here alreadyDebts: what you owe other people
If you're pre-approved for a loan does that mean that you get it?
Being pre-approved means that if you apply for the loan, you will get it.
Is tithing an acceptable monthly expense when being considered for mortgage loan modification?
Is tithing an acceptable monthly expense when being considered for mortgage loan modification?
What is American reverse mortgage?
American reverse mortgage is when you borrow money based on the value of your house. A reverse mortgage has the option of being a lump sum or installments.
Who benefits the most by the inclusion of a subordination clause in a mortgage?
It depends on what is being subordinated. Generally, the lender. Homestead exemptions are often subordinated to a mortgage and that benefits the lender.It depends on what is being subordinated. Generally, the lender. Homestead exemptions are often subordinated to a mortgage and that benefits the lender.It depends on what is being subordinated. Generally, the lender. Homestead exemptions are often subordinated to a mortgage and that benefits the lender.It depends on what is being subordinated. Generally, the lender. Homestead exemptions are often subordinated to a mortgage and that benefits the lender.
