No
Yes, if the line of credit is a home equity line where the home is the collateral for the loan then you will have to prove that you have insurance on the home for the home equity loan. Any time you use collateral for a loan then part of the loan agreement will involve proof of insurance on the collateral.
Yes,you do.
Notify your insurance company and file a claim. Failing this, you will pay the balance owed on the loan. The property that secured the loan, that which was stolen, only acts as security for the lender.
Not all home owners have to pay equity but equity loans are available to all home owners. This loan can go up to a maximum of ´£60,000 this loan is provided by the government using your house's equity as insurance to pay the money back.
No
Yes, if the line of credit is a home equity line where the home is the collateral for the loan then you will have to prove that you have insurance on the home for the home equity loan. Any time you use collateral for a loan then part of the loan agreement will involve proof of insurance on the collateral.
Yes.
Yes,you do.
Notify your insurance company and file a claim. Failing this, you will pay the balance owed on the loan. The property that secured the loan, that which was stolen, only acts as security for the lender.
NO. The mortgage company does not warranty the purchased home. However, If you have acquired equity in the home you might be able to take an additional loan (second mortgage) on the equity to effect you repairs.
Not all home owners have to pay equity but equity loans are available to all home owners. This loan can go up to a maximum of ´£60,000 this loan is provided by the government using your house's equity as insurance to pay the money back.
The usual terms for a home equity loan are that the person takes out the loan using their home as insurance against the loan not being repaid. The loan can last any number of years depending upon its size and length agreed with the loaning company.
If you have equity, you can get an equity loan
a loan not backed by a co-signer who agrees to cover the amount of the loan a person loan without assets to cover the loan amount a home equity loan a loan tkaen on a life insurance policy
a loan not backed by a co-signer who agrees to cover the amount of the loan a person loan without assets to cover the loan amount a home equity loan a loan tkaen on a life insurance policy
If you were to take out a home equity loan and pay for the mortgage recording tax, it would be deductible and the IT-256 form must be used to claim it.