Sentences with phrase «mortgage debt on a property»

The higher the level of mortgage debt on a property or portfolio (referred to as leverage or gearing), the greater the potential tax liability;

[A short sale is a sale in which the sales price is less than the outstanding mortgage debt on a property.]

Not exact matches

Wages and prices are assumed to fall proportionally, enabling shrinking economies to «earn their way out of debt» by squeezing out a trade surplus to earn the euros to carry the enormous mortgage debts that fueled the post-2002 property bubble, and the new central bank debt taken on to support the exchange rate.

You can invest in higher yielding properties at much lower valuations for $ 5,000 — $ 10,000 minimums versus coming up with a $ 200,000 + downpayment and taking on $ 1,000,000 in mortgage debt for the median SF or NYC home price.

DTI ratio represents the amount spent on debt payments every month (think mortgage payments, credit card bills, car payments, property taxes, homeowners insurance, etc.) compared to monthly gross income.

It doesn't matter what amount of money you make each month, the lender takes interest in the amount of debt you have to pay on things like vehicle loans, property loans, credit cards, mortgages, etc..

According to the HUD handbook, the borrower's «total fixed payment» includes the monthly mortgage payment (with property taxes and home insurance), along with the monthly obligations on all other debts and liabilities.

Other primary positives include: interest deductibility on real estate maintained, like - kind exchanges on real property maintained, the home mortgage deduction being preserved (but reduced to $ 750,000 of mortgage debt), and reduced foreign withholding on capital gains distributions (35 % to 21 %).

He said: «People will find it hard to believe that Mr Cameron's decision to arrange his finances so that all of his mortgage debt was on a property funded by parliamentary allowances meant no extra cost to the taxpayer, as compared to continuing to share the debt between two properties.»

Moreover, you will be able to get finance sooner than you think since even if you have an outstanding mortgage, you will be able to get a home equity loan based on the equity you build on your home either because you are paying off the mortgage and the debt is reduced or because the property's value will increase over the years.

Bankruptcy will not normally wipe out: (1) money owed for child support or alimony, fines, and some taxes; (2) debts not listed on your bankruptcy petition; (3) loans you got by knowingly giving false information to a creditor, who reasonably relied on it in making you the loan; (4) debts resulting from «willful and malicious» harm; (5) student loans owed to a school or government body, except if the court decides that payment would be an undue hardship; (6) mortgages and other liens which are not paid in the bankruptcy case (but bankruptcy will wipe out your obligation to pay any additional money if the property is taken back by the creditor).

I receive letters from a debt collector every year trying to collect past due mortgage payments on a property that I do not owe.

And, unless you have an acceptable plan to catch up on your debt under Chapter 13, bankruptcy usually does not allow you to keep property when your creditor has an unpaid mortgage or security lien on it.

This means that you gave that creditor a mortgage on the home or put your other property up as collateral for the debt.

Private lenders focus on the market value and existing debts on a property when deciding whether or not to approve a mortgage application.

Various reasons that prompt one to take a second mortgage include covering part of the down - payment on their first mortgage in order to evade the requirement of property mortgage insurance, financing home improvements, and consolidating debts.

The deed of trust — also called a «mortgage» or «lien» — states that the home may be used as «collateral» for repayment of the loan; in the event of payment default, the lender is able to foreclose on the property, sell it, and retain the proceeds to satisfy the debt in question.

Private mortgage lenders in Halton Hills focus on market value and debts on a property when gauging mortgage applications.

Private mortgage lenders in Sault Ste. Marie are not so keen on credit score but being sensitive to risk, they avoid loaning to properties with high debt.

These lenders consider the existing mortgages on the property and they do not give a mortgage if your property has too much debt.

If your home is worth $ 1,000,000 in Timmins and has $ 700,000 in debts, the LTV is 70 % which is enough to get you approved as most private mortgage lenders will loan to a maximum 85 % LTV on a residential property.

Private lenders usually consider the safety of their investment and they will not give you a mortgage if the debt that you have accumulated on the property is too high.

Private lenders are keen about market value and existing debts on a property when deciding whether to approve mortgage applications.

If a property is worth $ 1,000,000 and has debts of $ 700,000, the LTV is 70 %, which could get you a good deal on a private mortgage.

Also you know that unless you have a plan that is approved to catch up on your debt under a Chapter Thirteen, then the bankruptcy will not usually allow you to keep property when your creditor has an unpaid security lien or mortgage on it.

The state data on mortgage debt further reinforces the local variation in property values.

In situations where a borrower is underwater on their mortgage, the amount of the debt that exceeds their property value is treated under the Bankruptcy Code as unsecured, often paid at much less than 100 % under the terms of a chapter 13 plan.

While it's true that at some point you might need to rely on debt — say, for a mortgage, education expenses or an investment property — it should be done with extreme care and planning.

Consider this: after purchasing a house and taking on a mortgage, you indeed have debt — but, (1) it is long term debt, not short term debt, with more time to pay it down; and (more importantly)(2) you now also have equity — the house and property itself (which has value that hopefully will increase over time — tax free).

If a lender sees a very high amount of existing debt in a property they will not agree to put a mortgage on a property.

Our strategy is to be completely debt free, including both mortgages, one on our primary home and one on our rental property.

Even those with a mortgage due on their home already can use the equity on their property to obtain a home equity loan with a low rate of interest and use the money to pay and cancel more expensive debt such as credit card balances, pay day loans, etc..

They are such risk sensitive lenders that they will not issue mortgages on the property with too much debt on it.

Private lenders of bad credit mortgages will look at existing debts on a property as opposed to credit score.

A home loan results in a mortgage lien on your property's title, which secures the debt's repayment to the lender.

Meaning, the price for which your home could be sold on the market today, less any debts registered against the property, such as mortgages and secured credit lines.

If a debt is secured by property, such as a home mortgage or an automobile loan, you have options on how to handle that debt.

With a conventional mortgage (Fannie or Freddie), there are higher down payment requirements not to debt to income limits and / or mortgage insurance add - ons that hurt your net income when it's a 2 to 4 unit property.

If there is a creditor who holds a second mortgage on a property and has not filed a lien, there is the likelihood that a bankruptcy court will require the creditor to file a proof of claim, and the debt will be treated like an unsecured claim.

(1) The following shall be exempt from the Credit Services Organization Act: (a) A person authorized to make loans or extensions of credit under the laws of this state or the United States who is subject to regulation and supervision by this state or the United States or a lender approved by the United States Secretary of Housing and Urban Development for participation in a mortgage insurance program under the National Housing Act, 12 U.S.C. 1701 et seq.; (b) A bank or savings and loan association whose deposit or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or a subsidiary of such a bank or savings and loan association; (c) A credit union doing business in this state; (d) A nonprofit organization exempt from taxation under section 501 (c)(3) of the Internal Revenue Code; (e) A person licensed as a real estate broker or salesperson under the Nebraska Real Estate License Act acting within the course and scope of that license; (f) A person licensed to practice law in this state acting within the course and scope of the person's practice as an attorney; (g) A broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (h) A consumer reporting agency; (i) A person whose primary business is making loans secured by liens on real property; (j) A person, firm, corporation, or association licensed as a collection agency in this state or a person holding a solicitor's certificate in this state acting within the course and scope of that license or certificate; and (k) A person licensed to engage in the business of debt management pursuant to sections 69 - 1201 to 69 - 1217.

All outstanding debts on the credit history are included in this calculation along with the mortgage payment and property tax.

Liens against collateral used to secure debt, like car loans and home mortgages, will not be discharged, and that property can be repossessed or foreclosed on unless you continue to make payments or are able to reach a new agreement with your lender.

When we got married in 2009, I had zero non-mortgage debt and he had around $ 300,000 in debt — car loan, credit cards, law school loans, mortgage and a HELOC on a rental property, etc..

Mortgage applications ask you to list all debts and how much you spend each month on everything from rent or your current mortgage (plus hazard insurance, property taxes, mortgage insurance, homeowners association dues and home equity loans or lines of credit) to credit cards, car loans, student loans, child support and Mortgage applications ask you to list all debts and how much you spend each month on everything from rent or your current mortgage (plus hazard insurance, property taxes, mortgage insurance, homeowners association dues and home equity loans or lines of credit) to credit cards, car loans, student loans, child support and mortgage (plus hazard insurance, property taxes, mortgage insurance, homeowners association dues and home equity loans or lines of credit) to credit cards, car loans, student loans, child support and mortgage insurance, homeowners association dues and home equity loans or lines of credit) to credit cards, car loans, student loans, child support and alimony.

We have defined benefit pension plans totalling $ 90,000 for both of us; approximately $ 200,000 each in RRSPs; collect approximately $ 50,000 per year in rental income from two properties (we have a mortgage of $ 100,000 combined on these properties); I'm still earning approximately $ 100,000 per year and plan to work for the next two years; my husband is retired and although he can collect early CPP, he opted not to do so to minimize taxes; we have 2 daughters; one is 17; the other is 31 and on ODSP due to an intellectual disability; we have no other debts.

In addition to their home mortgage, they also owe $ 309,000 on their rental properties as well as $ 74,290 in other personal debt, including a car loan, equity line of credit and a personal loan that was used to pay for their trip to Africa.

«If they sold both rental properties they could pay down their mortgage and their personal debt and get close to debt - free, an ideal position when living on one income and starting a family,» says Franklin.

Putting 3 percent down on a home, the buyer can't afford to spend more than 28 percent «front end» debt - to - income ratio, which is: the mortgage, property taxes and insurance, divided by the buyers annual income before taxes.

By reinvesting the equity (as long as there is as much debt on the new property as the mortgage payoff on the disposed realty), capital gains tax and any IRC section 1250 unrecaptured gain taxable at the 25 % rate can be completely avoided.

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.