Sentences with phrase «than your current mortgage balance»

You do this by borrowing more than your current mortgage balance.

Not exact matches

He or she borrows more than the balance owed on the current mortgage.

For refinances starting June 11th 2012 and after, the current upfront fee of 1 percent of the loan amount is being reduced to a mere 0.01 % — equal to $ 10 on a $ 100,000 mortgage — while the annual insurance premium is being cut by more than half, to 0.55 percent of the balance, down from 1.15 percent currently.

On the other hand, if you don't live with a partner, your children have their own homes and your house's current value is greater than your outstanding mortgage balance, you may not need to include it.

Many homeowners who are current on their payments find the home is worth less than the outstanding mortgage balance.

A Short Sale is an option of a homeowner selling a home for less than the balance on their current mortgages and the mortgagee agrees to a reduced payoff.

In a cash - out refinancing, you take out a new mortgage for an amount that's larger than your current principal balance.

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.

I current have a mortgage with less than 14 years on the term with an outstanding balance of approx 100k.

If you're underwater on your primary residence, your first mortgage lender must agree to write off a portion of the balance (at least 10 %) to get your current mortgage balance down to no more than 97.75 % of your home's current ugly value.

This is when your current home value is greater than your outstanding mortgage balance.

In order to take advantage of this program, your mortgage balance must be higher than your home's current value, and your mortgage lender would have to agree to write down your existing mortgage amount by at least 10.

The Mortgage Forgiveness Debt Relief Act of 2007 says that on foreclosures, short sales and mortgage restructurings for less than the current balance on the mortgage, there will be no tax on the forgiven dMortgage Forgiveness Debt Relief Act of 2007 says that on foreclosures, short sales and mortgage restructurings for less than the current balance on the mortgage, there will be no tax on the forgiven dmortgage restructurings for less than the current balance on the mortgage, there will be no tax on the forgiven dmortgage, there will be no tax on the forgiven debt, if:

If your balance on your current mortgage is already more than 80 % of the home's value, chances are you won't qualify.

A Short sale is a pre-foreclosure arrangement between a homeowner and their lender, where the lender will allow the owner to sell a property for less than the amount of the current mortgage balance because the property is no longer worth what it once was.

You'll get a lot more coverage for 20 years, but since it's a 20 year term instead of 30, your premium will still be lower than the «mortgage insurance» offers and probably even lower than the 30 year level term policies other agents are quoting you for the current amount of the balance.

While you do want a healthy balance of debt types, secured debt like a mortgage looks better on your credit score — provided you are current on your payments — than unsecured debt like credit cards.

You may be eligible for a short sale if your Wellington home's current value is lower than the owing mortgage balance.

Your Home Can Be Considered «Under Water» You may be eligible for a short sale if your Wellington home's current value is lower than the owing mortgage balance.

Cash - Out Refinance When a borrower refinances his mortgage at a higher amount than the current loan balance with the intention of pulling out money for personal use, it is referred to as a «cash out refinance.»