Sentences with phrase «property less the amount»

The value of the equity of redemption to the person obligated on the mortgage, a.k.a. the equity in the property, is the value of the property less the amount of the mortgage.

Not exact matches

Benson said the amount of money Marin homeowners pay in property tax is less driven by the actual tax rate and more driven by the value of the real estate.

The sale amount, $ 575,000 was less than the amount of the last mortgage of $ 760,000 she had taken out on the property after her husband's death.

Short Sales — A bank will often take less than the loan amount on a property to save the hassle and costs of foreclosing.

Copperbank is currently valued at less than C$ 15 million, which is a far cry from the amount of money an investor would need in order to acquire a portfolio of properties similar to what they own.

If you have owned the property for less than one year, the lender must use acquisition cost plus the documented rehabilitation costs for your maximum loan amount.

In the event of a default the property is sold and the bank gets all its money back because they are in a full equity position, the amount lent is less than the total value of the asset so they are only out the time it takes to get the property sold.

It is important to note that this point that the amount offered will be less than the market value of your home, as quick property buying forms look to make a profit when they sell the house on.

Short sale real estate investing is when a developer purchases a property for less than the mortgage amount owed.

At an annual cost of $ 410 million, the Family Tax Relief Rebate provides $ 350 to households with children under age 17 and annual income between $ 40,000 and $ 300,000; the Property Tax Freeze Rebate provides an amount equal to the annual increase in property taxes to homeowners earning less than $ 500,000 in tax cap - compliant local governments and school districts and costs $ 783 million aProperty Tax Freeze Rebate provides an amount equal to the annual increase in property taxes to homeowners earning less than $ 500,000 in tax cap - compliant local governments and school districts and costs $ 783 million aproperty taxes to homeowners earning less than $ 500,000 in tax cap - compliant local governments and school districts and costs $ 783 million annually.

The Mortgage in Erie County is 1 % of the mortgage amount and can be computed by calculating 1 % of the total mortgage amount, less $ 25 where the real property consists of a 1 - or 2 - family dwelling.

Even with the added staff, the amount of manpower committed to inspecting properties for lead (18 1/2) would be less than in Rochester (25), which is a smaller city with less severe problems.

While most local governments increase property taxes by an amount less than the cap, the state will be locked into making payments at the maximum under the cap, Peters said.

The property tax cap generally limits the amount a government entity can increase its annual tax levy to two percent or the rate of inflation, whichever is less.

These properties make the cells ideal for things like windows or roofs, although they are probably less suitable for large - scale commercial applications, such as solar farms, because they need more area to produce the same amount of electricity as more typical silicon - based solar cells.

Governor Walker vetoed a provision that would have increased the amount of money school districts that spend less per student than the state average can raise in property taxes.

Schools receive the largest amount of their state funding through a general fund that distributes money through a formula that gives more to districts with more students with challenges, including those who live in poverty, and less state money to districts with high property values.

The Senate Republican plan also nearly eliminates Walker's proposed $ 20 million increase in aid for rural schools, and increases the amount of money school districts that spend less on each student than the state average can raise in property taxes.

b) If the property was purchased less than one year preceding the application date, the LTV / CLTV (85 %) for the mortgage amount must be calculated using the lesser of the appraised value or the original sales price of the property.

Usually, the amount of your loan can be no more than 95 percent of the appraised property value or 95 percent of the sales price of your home, whichever is less.

If the down payment being made on a property is small, then the size of the home loan is bigger; alternatively, if the down payment is large, then the required loan amount is less.

Add $ 270 in HOA dues, and just $ 1,190 is available for mortgage payments — the loan amount falls to 241,900 — $ 54,850 less, enough to make many properties unaffordable and off - limits.

17 groups, or 50 % of those reporting, cited «short sales» — where servicers minimize their losses by allowing homeowners to sell their property for less than the amount of money owed — as a «very common» outcome for borrowers.

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.

According to Gordon, another way of taxing speculation is to tax real estate sales when the seller has only owned the property for a short amount of time, with the highest rates for those who've owned the home less than six months.

A short sale is defined as selling a property for less than the amount owed on the mortgage.

For newer homeowners, their loan amount will be limited to 85 % loan - to - value based on the lesser of the new appraised value or the sales price of the property when acquired.

A short sale is accomplished when an offer is placed on your property that the lienholder (lender) agrees to accept, but is an amount less than the amount owed on the loan.

They may acquire property jointly, but the amount of guaranty on the loan may no exceed the lesser of 40 percent of the loan amount or $ 36,000 ($ 50,750 for certain loans over $ 144,000).

The regular amount you pay into your escrow account each month to cover property taxes is probably a little more or a little less than your property tax bill.

The guaranty is based on each veteran s interest in the property, but the guaranty on the loan may not exceed the lesser of 40 percent of the loan amount or $ 36,000 ($ 50,750 for certain loans over $ 144,000).

A short sale occurs when real estate is sold to a third party for an amount less than what is owed on the property.

If the veteran makes a downpayment of at least 5 percent, but less than 10 percent of the purchase price of the property, the funding fee is reduced to 1.50 percent of the loan amount (2.25 percent for reservists).

If the property is now worth $ 250,000 the loan amount is less than the value of the property.

This investment amount is the difference between the HECM principal limit and the sale price for the property as well as any fees that are not financed into the loan, less the amount of the earnest money deposit.

This amount is usually calculated as the cost of the property less depreciation.

On the other hand, if the loan is less than 80 % of the value of the property, the lender will rest assured that the value of the property will be able to cover the mortgage amount if there is need for foreclosure.

$ 225,000 loan amount, 70 % loan - to - value, 740 credit score, property in WA, lock period of 30 days, debt - to - income ratio of 30 % or less, escrow account applied (meaning your tax and insurance costs are collected monthly with your mortgage payment).

$ 225,000 loan amount, 100 % loan - to - value (0 % down), 740 credit score, property in WA, lock period of 30 days, debt - to - income ratio of 30 % or less, escrow account applied (meaning your tax and insurance costs are collected monthly with your mortgage payment).

You will only be asked to do this if you have more than 15 % equity in your property (banks have traditionally not lent money in excess of 85 % of the property's value), if the amount being released was above a de minimis value (i.e. your IP usually wouldn't expect you to remortgage to release less than # 5,000) and if your IP believes you can afford the repayments (see IVA Remortgage).

Usually, with a credit history which is less than perfect, you will have an 85 % credit limit on the amount of money you can guarantee with your property.

Where the current fair market value of your property is less than the amount you owe on your loan, the lender may agree to a short sale allowing your property to be sold for less than the amount of the loan balance.

A reverse mortgage doesn't do anything to your home's equity that any other mortgage wouldn't do; the only difference is that you don't have to repay a reverse mortgage until the death of the last surviving spouse, and assuming the amount you owe on the reverse mortgage is less than the property's value, your heirs would inherit the difference.

If the fair market value of a property is less than the amount owed on a first - priority mortgage, a Chapter 13 debtor may be able to remove additional mortgage liens through a process known as «lien stripping.»

Finally, tax liens can be crammed down, and removed from property, often by paying much less than the amount of the lien depending on how much equity there is in the property.»

Some lenders may agree to accept less than the full amount of the shortfall debt by securing part of the debt on a new property as part of your mortgage and writing off the rest.

Sell the property, even if its current market value is less than the amount that is owed (a «Short Sale»);

Translation: If you run into hard times, have an FHA mortgage and the property must be sold for less than the mortgage amount then HUD will not come after you for the unpaid balance.

A short sale is essentially what happens when a home is sold for less than the amount of money that remains on the mortgage because the owner owes more on the mortgage then what the property is worth.

As the interest amount (PPI installment + regular interest) is less than Rs 2 Lakh, he can claim the entire amount u / s 24, even if it is a Self - occupied property.