Posts tagged "mortgage"

We financed a house,and asking for advise? 30 year mortgage $460.00 a month(house insurance included)?

Question by : We financed a house,and asking for advise? 30 year mortgage 0.00 a month(house insurance included)?
we financed a house through a finance company.Everytime we pay the note more money goes to the interest than it does the balence.Is this legal? Also we bought the house”as Is” and we discovered termite damage in the walls of the house,and was not told about it.what legal steps can we take?

Best answer:

Answer by Shopper
My very first mortgage payment only $ 10 went towards the principal.
Your principal does increase every month by just a little bit.
It’s the way mortgages work – most of the interest upfront.

You can only sue the previous owner if they knew of the damage and did not disclose it.
You will have to prove that the damage was obvious to them.
My parents got sued for not disclosing, but they clearly knew there was a problem and did not disclose it. They had to pay for all repairs.

Add your own answer in the comments!

What happens if there is gap of time between two insurance policies in a home with a mortgage loan?

Question by syrdell: What happens if there is gap of time between two insurance policies in a home with a mortgage loan?
I had an oversight with the payment of my homeowners insurance and by the time I realized my insurance was unpaid, 45 days had elapsed. I am in the process of fixing the problem, but, will the lender force me to buy their “force placed insurance” if I can not get coverage for the past uninsured lapse of time? Before I call the lender to ask I want to be informed.

Best answer:

Answer by onthefasttrack
no you have like 90 days in most cases but you go to long and you will be forced to take there insurance and it will be for a year then you can get others and that ins they get you is expensive !!!! Just get insurance on it now before they catch you ! Plus they will put that insurance into the house payment and you might loose your house if you cant pay it!

Give your answer to this question below!

What happens if there is gap of time between two insurance policies in a home with a mortgage loan?

Question by syrdell: What happens if there is gap of time between two insurance policies in a home with a mortgage loan?
I had an oversight with the payment of my homeowners insurance and by the time I realized my insurance was unpaid, 45 days had elapsed. I am in the process of fixing the problem, but, will the lender force me to buy their “force placed insurance” if I can not get coverage for the past uninsured lapse of time? Before I call the lender to ask I want to be informed.

Best answer:

Answer by onthefasttrack
no you have like 90 days in most cases but you go to long and you will be forced to take there insurance and it will be for a year then you can get others and that ins they get you is expensive !!!! Just get insurance on it now before they catch you ! Plus they will put that insurance into the house payment and you might loose your house if you cant pay it!

Add your own answer in the comments!

We financed a house,and asking for advise? 30 year mortgage $460.00 a month(house insurance included)?

Question by : We financed a house,and asking for advise? 30 year mortgage 0.00 a month(house insurance included)?
we financed a house through a finance company.Everytime we pay the note more money goes to the interest than it does the balence.Is this legal? Also we bought the house”as Is” and we discovered termite damage in the walls of the house,and was not told about it.what legal steps can we take?

Best answer:

Answer by Shopper
My very first mortgage payment only $ 10 went towards the principal.
Your principal does increase every month by just a little bit.
It’s the way mortgages work – most of the interest upfront.

You can only sue the previous owner if they knew of the damage and did not disclose it.
You will have to prove that the damage was obvious to them.
My parents got sued for not disclosing, but they clearly knew there was a problem and did not disclose it. They had to pay for all repairs.

Give your answer to this question below!

What happens if there is gap of time between two insurance policies in a home with a mortgage loan?

Question by syrdell: What happens if there is gap of time between two insurance policies in a home with a mortgage loan?
I had an oversight with the payment of my homeowners insurance and by the time I realized my insurance was unpaid, 45 days had elapsed. I am in the process of fixing the problem, but, will the lender force me to buy their “force placed insurance” if I can not get coverage for the past uninsured lapse of time? Before I call the lender to ask I want to be informed.

Best answer:

Answer by onthefasttrack
no you have like 90 days in most cases but you go to long and you will be forced to take there insurance and it will be for a year then you can get others and that ins they get you is expensive !!!! Just get insurance on it now before they catch you ! Plus they will put that insurance into the house payment and you might loose your house if you cant pay it!

Give your answer to this question below!

We financed a house,and asking for advise? 30 year mortgage $460.00 a month(house insurance included)?

Question by Carl f: We financed a house,and asking for advise? 30 year mortgage .00 a month(house insurance included)?
we financed a home by means of a finance company.Everytime we pay the note much more income goes to the interest than it does the balence.Is this legal? Also we purchased the property”as Is” and we discovered termite damage in the walls of the house,and was not told about it.what legal methods can we take?

Greatest answer:

Answer by Shopper
My really very first mortgage payment only $ 10 went towards the principal.
Your principal does boost every month by just a little bit.
It really is the way mortgages work – most of the interest upfront.

You can only sue the prior owner if they knew of the harm and did not disclose it.
You will have to prove that the harm was clear to them.
My mother and father got sued for not disclosing, but they plainly knew there was a dilemma and did not disclose it. They had to pay for all repairs.

Give your answer to this query beneath!

Home Mortgage Insurance

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Which Type Of Insurance Couldn’t You Do Without?

Article by Arty Luna

From one day car insurance to insuring your face, there are various types of insurance. Some people just seem to insure for every possibility whilst some are quite underinsured, some even illegally so. When it comes to insurance, the question is, is it worth being over or under insured? Insurance is of course a gamble. Nonetheless it is more than just that. When you insure your motorcar, you are surely hoping not to have an accident or to ever claim on your insurance. But insurance in this case is a requisite rather than a choice. But even when it comes to car insurance, you do have lots of choices – How much excess to have, the amount of legal cover, how much cover for your stereo equipment?

What about life insurance? Necessary or not? Well I suppose it depends on whether you have any family who need to be financially secure after you demise. But how much life insurance do you require? Firstly it is necessary that you have enough to pay off any unsettled debts, such as your mortgage. Then secondly leave enough so that your loved ones can have enough cash to keep them in the style that you would like them to be kept and in which you can manage.

House insurance, should you buy it? Buildings insurance is fundamental. What would you do if your premises was structurally damaged or destroyed? How would you be able to rebuild it if you had no insurance? Contents insurance is a different matter. Some folks argue that rather than take out insurance to cover theft or damage to your belongings, you could put aside a sum of cash every month. This would bring into being a fund that you could use should you need it. If you don’t need it then you have some capital to save or use for other things. This strategy is risky however. If you lost everything in your house how much would it cost to replace it? How much would it cost to replace just one of your most treasured belongings? What if this happened before you had enough capital in your pot?

Have you ever driven a car for just 1 day? Did you take out one day car insurance? Some folk don’t’. This is mad when you can get cover for such a low amount of money. Not only that, but it is a legal requirement to be insured while you are driving an automobile on UK roads. Even if you only mean to drive a vehicle for just 1 minute you should take insurance. The risk far outweighs the money that your premium will cost.

Insurance is something that we all need; all have to buy, but sometimes don’t purchase. Make certain that you are covered, and that you don’t get caught short when you need it most. But make certain that you take out only the insurance that you need. Don’t make the mistake of being over insured, or under insured. Read the small print and get the cover that you require.

Life has many twists turns and surprises, be safe.

About the Author

Arty writes for a number of insurane websites including 1 day car insurance.

Whole life insurance + “enricher” or extra payments on the mortgage?

Question by Mathew Cartier: Whole life insurance + “enricher” or extra payments on the mortgage?
I spend an extra 500 on my mortgage payment every month, I am content undertaking this. It will have my mortgage paid off in 17 years instead of 30. My insurance coverage agent has told me that I would be far better off taking that added income and putting it into a entire life insurance policy with an “enricher” rider, taking the tax advantage of my mortgage interest, and enabling the life ins. policy to develop to a point where it can be used as a spend-off. I have never heard of this ahead of and am definitely confused. Paying off my residence is a pretty critical matter to me but so is life insurance.

Finest answer:

Answer by Judy
Insurance agents are there to make income by selling items.
They do not have your very best interest at heart.

He just wants you to spend for his new Lexus that he is preparing to acquire.
With less debt – you don’t need as a lot life insurance.
Complete life insurance is not the best deal anyway – term is.
Suze Ormand is always saying this.

There is no far more rewarding feeling that paying off a residence.
Get pleasure from the peace of mind you will have in your future years.
And preserve an eye on this insurance agent – do not make hiim rich.
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Know much better? Leave your personal answer in the comments!

Today’s Mortgage Rates: Which home loan is best?

Texas Mortgage Info: How your mortgage person structures your loan is more important than the getting a low rate. To get the lowest 30 year or 15 year fixed rate consider avoiding PMI (mortgage insurance) even though these loans have higher rates; they have lower payments.

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