Sentences with phrase «off appraised value»
The calculation is based either off the appraised value or the original sales price, depending on the length of time the borrower has owned the property.
https://kentuckyfhaloan.wordpress.com/ Not exact matches
«Some program participants mistakenly infer from this language that a borrower (or the borrower's estate) could pay off the loan balance of a HECM for the lesser of the mortgage balance or the appraised value of the property while retaining ownership of the home.
Your estate may retain ownership of the property and must pay off the loan in full or the property can be sold to an unrelated party for the lesser of the unpaid mortgage balance or 95 % of appraised value
In some cases the LTV may be calculated off of the higher of the Purchase Price or Appraised Value.
Up to 80 % of the appraised property value of your home can be used for, debt consolidation, paying off high - interest credit cards and loans, home improvements and renovations, education, dream vacations, car loans, and personal expenses.
For Scenario I I'll assume Premier receives the full appraised value adjusted for inflation and round the number off to $ 200 million.
If you have a second mortgage, the lienholder must either write off the loan or re-subordinate it to the new first mortgage, and write off enough so that the total of both the new first mortgage plus the old second mortgage is no more than 115 % of the home's current appraised value.
I believe this property should appraise for at least $ 180,000, which means if the bank will provide a 70 % loan - to - value mortgage on this property, I should be able to get a loan for $ 126,000 — paying off my private lender entirely and allowing me to pay the bank loan back as well.
In a high - profile case in Calaveras County, a homeowners association, exercising its right to nonjudicial foreclosure, auctioned off the home of one of its members — for nonpayment of association dues — at well below its appraised value, according to American Homeowners Resource Center, an association watchdog group.
Taxes are based off of the property's appraised value (market value).
If on the other hand, you are going with conventional loan (after quit claim deeding the LLC off title and adding your name for 6 months) then we can cash out 75 % of the appraised value vs having to wait 12 months to cash out 75 % of the appraised value with a portfolio lender that closes in LLC.
Some require 6 months to lend off full appraised value, some require 12.