Sentences with phrase «balance on the mortgage»

They receive the death benefit from your mortgage insurance policy to use as they need, including to payoff your outstanding balance on the mortgage loan for your home.

A short sale is a property transaction in which the revenue from the sale falls short of the existing principal balance on a mortgage loan.

A payment by a borrower of more than the scheduled principal amount due in order to reduce the remaining balance on the mortgage loan.

When purchasing your mortgage policy make sure you match the amount of coverage to your outstanding balance on your mortgage loan.

If you're refinancing, enter the current balance on your mortgage into the loan amount section and input the new term and new rate that you'll receive.

Your home must be worth more than the existing balance on your mortgage.

The illustration below shows how much you might save by changing your credit score from 620 to 720 for an average balance on a mortgage, auto loan and credit card balances.

Specifically, in some states, the mortgage borrower can remain on the hook for any unpaid balance on the mortgage even after foreclosure.

Always check your escrow account balance on your mortgage statement each month and make sure it's on track to have enough money to cover your insurance and property taxes on their due dates.

The remaining balance on the mortgage is in the high 150's give or take a few thousand.

You can make an offer to purchase the property, but the lender has to agree with the homeowner to accept less than the outstanding balance on the mortgage loan.

According to Zillow, this is the only report that uses current outstanding loan balances on all mortgages when calculating negative equity, as opposed to basing outstanding loan balances on the most recent loan on a property, such as the original loan amount at the time of purchase or refinance.

You can own your home outright, or have a low balance on your mortgage that can be paid off at closing with proceeds from the reverse loan

People with higher balances on their mortgage loans are more likely to default on purpose than those with lower balances

Lump sum payments go directly towards the outstanding balance on your mortgage principle.

Since the financial crisis, when housing prices tumbled, the disparity between the current value of the home and the total balance on the mortgage has often meant the difference between keeping a home and losing it to foreclosure.

Our clients are now using their monthly savings towards further reducing their principal balance on their mortgage by taking advantage of the pre-payment options available through the lender we placed them with.

Most people require less life insurance once their term policy reaches the end of term... kids likely out of school and independent, you have a smaller balance on your mortgage, and fewer working years ahead of you....

Making an extra $ 10,000 lump - sum payment toward the principal balance on our mortgage sample above would pay off the mortgage two years and four months earlier, saving you $ 19,000 in interest.

Then all you need to do is get out the checkbook once again and write another $ 10,000 check to the primary balance on your mortgage.

The property goes to the judicial sale (homeowner deceased, left balance on the mortgage) but looks like there is a probate involved as well (probate was recorded after lis pendens).

If there's any money left after everyone's been paid, you get to keep it; if not, your lenders can still come after you for any remaining balance on your mortgage loan.

Assuming you've paid down the principal balance on your mortgage loan over the years and you now have a balance of $ 235,000, it would be wise to roll all closing costs into the new refinance mortgage loan.

In January 2012, the average outstanding balance on a mortgage was $ 236,000.

Borrowers can request that PMI be canceled when they pay down the principal balance on their mortgage loans to 80 % of the purchase price.

PMI protects lenders against the risk that the value of the home will fall below the outstanding principal balance on the mortgage, leaving the borrower «underwater» on the loan.

When I last updated you kids back in October, the balance on our mortgage was approximately $ 78,000.

At 10 a.m., a new report will show black and Latino homeowners in the outer NYC boroughs remain in the grips of the foreclosure crisis because the value of their homes is less than the outstanding balance on their mortgages; Council members will call on the city to use eminent domain to seize «toxic» mortgage and modify them, City Hall steps, Manhattan.

Original Loan Amount: The original principal balance on the mortgage (which will include any upfront mortgage insurance premium) plus the new upfront premium that will be charged on the refinance, or

The balance on the mortgage would remain the same, assuming no prepayments, with a balance of $ 226,398 owing at the end of year 10.

If I've budgeted right, the balance on the mortgage - backed overdraft loan goes to zero right before I send the massive payment to the tax department in May and October.

The remaining balance on a mortgage.

Just take the current market value of your home, and subtract the outstanding balance on all mortgages.

The closing costs alone could run as much as 5 % of the balance on your mortgage and those must be paid upfront before the lender will close the deal.

If the balance on your mortgage is $ 150,000, and the value of your home is $ 200,000, the equity is $ 50,000.

my partner is 71, I am 75, We own our condo in CA the balance on the mortgage is 52,000 and the approx value is 150,000 - 160,000.

Based on the value of your home and the balance on your mortgage, you may have equity that allows you to receive cash as part of a refinance.

FHA is prohibited by federal law from permanently reducing the principal balance on the mortgages it insures, but the agency allows up to 30 % of the balances to deferred (and not accrue interest) until the properties are sold.

Sometimes, homeowners are able to cancel mortgage insurance once the balance on the mortgage falls below 80 % of the value of the home.

In the beginning of the repayment period, you are paying little on the principal so your annual interest rate is added to the balance on your mortgage every month; your principal balance does not go down much, if at all.

It used to be that you only had to carry this insurance for at least five years on all loans longer than 15 years, or until the balance on your mortgage was down to 78 % of the original purchase price, whichever took longer.

Historically, the amount of insurance coverage on MPI policies dropped as the balance on a mortgage was reduced.

If the current value of your property is more than the balance on your mortgage, you have equity in your home that you can use to consolidate your debts.

The sellers will not have to pay back the balance on their mortgage.

A decreasing term mortgage life insurance policy specifically covers the outstanding balance on a mortgage.

This type of plan is ideal for providing sufficient death benefits to cover the outstanding balance on your mortgage to avoid leaving a burden of debt for your survivors.

Rental mortgages — All properties are currently rented, which means our tenants helped us pay down $ 5,316.88 of the balances on the mortgages for our rental properties.