Sentences with phrase «mortgage loan balance»

4 The reverse mortgage loan balance grows at the same rate as the available line of credit.

4 The reverse mortgage loan balance grows at the same rate as the available line of credit.

A person having a huge outstanding mortgage loan balance to pay will be required to take higher life insurance than someone with little or no mortgage balance to pay.

Take the value of your current mortgage loan balance (total) and divide it by the value of your home.

If you leave huge mortgage loan balance behind for your family without any insurance to cover the payments, you may be exposing your family to the risk of foreclosure.

Your home equity grows over a period of time and by decreasing your principal mortgage loan balance, you are in a good position to negotiate.

However, with a reverse mortgage the loan balance grows over time because the homeowner is not making monthly mortgage payments.

However, with a reverse mortgage the loan balance grows over time because the homeowner is not making monthly mortgage payments.

The property has an outstanding first mortgage loan balance of $ 54.6 million, which bears interest at a rate of 6.50 percent and matures in 2016.

An existing policy, either term or cash - value life insurance, can be used for many purposes, including paying off an outstanding mortgage loan balance in the event of the insured's death.

These days, after we max out our 401Ks ($ 24K for him and $ 18K for me), we are just aggressively paying down our remaining mortgage loan balances.

More homeowners than ever paid down mortgage loan balances while refinancing their homes in the fourth - quarter of 2010, according to Freddie Mac.

Today with a FHA loan you must keep your 2nd mortgage loan balance below your home's value.

The Ohio mortgage loan balance increased 0.8 percent from the same time in 2015, about a third of the average national increase.

The mortgage interest on the refinancing should qualify as deductible as long as the new mortgage loan balance doesn't exceed $ 950,000.

For example, if someone with a $ 250,000 home passes away and leaves a reverse mortgage loan balance of $ 80,000, then the estate would sell the home for $ 250,000, repay $ 80,000 to the bank, and keep the $ 170,000 difference.

For example, if someone with a $ 250,000 home passes away and leaves a reverse mortgage loan balance of $ 80,000, then the estate would sell the home for $ 250,000, repay $ 80,000 to the bank, and keep the $ 170,000 difference.

Home equity lenders give you a line of credit up to 85 % of your appraised homes value, minus the current mortgage loan balance.

Important Disclosures: 1 The reverse mortgage loan balance grows at the same rate as the available line of credit.

The due on sale clause generally provides that if you ever transfer the mortgaged property before paying off the mortgage then the mortgage lender has the right to immediately demand full repayment of the outstanding mortgage loan balance.

Borrowers who increased their mortgage loan balance by at least 5 percent accounted for 16 percent of mortgage refinancing.

Speaking at an event held by Women in Housing and Finance, FHA commissioner David Stevens said that «[Mortgage] servicers and lenders have got to start writing down principal» for homeowners whose homes are worth less than their mortgage loan balances.

If you or your heirs choose to sell the home, the reverse mortgage loan balance will be repaid to the lender.

If your home has dropped too much in value, you may have to request refinancing options under special government programs or consider bringing cash to the settlement table to pay down your mortgage loan balance a bit — the latter of which may hurt the appeal of a refinance.

In addition, the borrower may need to set aside additional funds from the loan proceeds to pay for taxes and insurance 5 The reverse mortgage loan balance grows at the same rate as the available line of credit.

When a borrower sells their home, they must repay the reverse mortgage loan balance and their lender will close their account.

The three percent contribution does not drive up the price of the home or tack onto the mortgage loan balance.

Acceleration The right of the mortgagee (lender) to demand the immediate repayment of the mortgage loan balance upon the default of the mortgagor (borrower), or by using the right vested in the Due on Sale Clause.

Because the mortgage loan balance is actually greater than the worth of your property, you may have difficulty getting a regular home mortgage refinance loan, since many lenders are not ready to offer loan products that surpass 100 % in the value of the house.

Pays your mortgage loan balance in the event of your death or disability from accidental causes.

After a borrower passes, heirs take over the responsibility of repaying the remaining reverse mortgage loan balance.

Fees that may be rolled into the reverse mortgage loan balance may include the loan origination fee, servicing fee, and other closing costs.

Mortgage loan balance must be $ 729,750 or less, and the mortgage loan must have been originated on or before January 1, 2009.

By choosing low payments you usually end up with a mortgage loan balance that increases over time.

Perhaps most importantly, the reverse mortgage loan balance may increase faster than the home's value rises, which could erode the remaining home equity while the borrowers remain in the home, leaving little or nothing for the borrowers or their heirs.

Upon the insured's death, the beneficiary receives the death benefit free from federal income taxes and can use the money to pay off the mortgage loan balance on your home.

Some insurance companies even offer decreasing term life insurance, which means the death benefit decreases over time along with your mortgage loan balance.

After a borrower passes, heirs take over the responsibility of repaying the remaining reverse mortgage loan balance.

Fees that may be rolled into the reverse mortgage loan balance may include the loan origination fee, servicing fee, and other closing costs.

Beginning this morning at 9:00 am, the Florida Hardest Hit program sprang back to life, accepting new applications for the federal principal reduction program that promises Florida home owners burdened with underwater mortgages a decrease of up to $ 50,000 in their mortgage loan balance.

Important Disclosures: 1 The reverse mortgage loan balance grows at the same rate as the available line of credit.

You'll also learn how your interest rate and payments could change in the future, and whether you'll incur penalties for paying off the loan early (called «prepayment penalty») or increases to the mortgage loan balance even if payments are made on time (known as «negative amortization»).

In addition, the form indicates if the loan has special features that you will want to be aware of, like penalties for paying off the loan early (a prepayment penalty) or increases to the mortgage loan balance even if payments are made on time (negative amortization).

When a borrower sells their home, they must repay the reverse mortgage loan balance and their lender will close their account.