Question by sittingpretty2: What does holding the mortgage mean?
I am interested in buying a house and the seller is willing to “hold the mortgage”. What exactly does that mean, and would I be the legal title holder/owner of the property?
Best answer:
Answer by the tax lady
Don’t know.
“Land Contracts” do not pass title, but other sales can.
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Watch the full episode 127 of the Keiser Report on Tuesday. This week Max Keiser and co-host, Stacy Herbert, report from Cairo on war profiteers blaming foreign ‘financial terrorists’ for the economic collapse that they helped cause. They also talk about Gaddafi’s billions and China’s gold. In the second half of the show, Max talks to investigative journalist and blogger, Hisham Allam, about Egypt’s revolution and what his investigations into corruption are finding in terms of the Mubarak family’s loot. KR on FB: www.facebook.com
Video Rating: 4 / 5
Question by denise: What is a ” wrap around mortgage”?
Best answer:
Answer by realtor.sailor
It’s used when the seller is financing the purchase. That’s where a seller has a mortgage on the property and rather than require the buyer to obtain a new mortgage which would payoff the seller’s mortgage, the seller holds a mortgage that “wraps around” his mortgage. Here’s a simple example; the seller’s mortgage is $ 500 per month. He sells the property and the mortgage payment from the buyer is $ 750 per month. That makes the seller’s mortgage payment and puts $ 250 in his pocket.
This vehicle may not be available with today’s mortgages, but you don’t know until you ask.
realtor.sailor
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Video Rating: 4 / 5
Question by acesup199: Does anyone actually read those “your approved mortgage” in your bulk mail?
Or do you just delete them like I do? Has anyone actually tried to get a mortgage through them?
Best answer:
Answer by bearcatgirl109
No. I delete those right way. Those are scams.
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Question by that guy 676: how does one say “subprime mortgage” in French?
Best answer:
Answer by Luke
prêt hypothécaire à haut risque
What do you think? Answer below!
As many Americans struggle with mortgage payments that are quickly becoming unaffordable, some banks are teaming with non-profit counseling organizations to make the loans ,more affordable.(July 5)
Video Rating: 2 / 5
Two years ago, Debra and her family lived in a nearly 2000 square foot home on an acre and a half of land. Then her husband lost his job and they began to work 4 jobs between them to pay the mortgage, until one day they remembered they had a choice. Before having their son, Debra and her husband Gary had spent 9 years living in very tiny homes in South America. Living small hadn’t felt like a sacrifice, but a way to stay focused on what is important. They decided they wanted to get back to that. They stopped working so hard, sold or gave away all of their extra stuff and began looking for the perfect tiny home. Debra had always liked the Mississippi shotgun style homes, and one day, while browsing craigslist, they noticed an ad for a local Arkansas company custom building tiny homes for a price that could mean an end to house payments. Six weeks and 000 later they had their own fully paid-off dwelling. Today, Debra, her husband and 13-year-old son live in a 320-square foot home that is not a sacrifice, but exactly what they need. Original story here: faircompanies.com Home designed and built by Slabtown Customs: slabtowncustoms.com Debra & Gary’s home business: www.etsy.com
Question by nerdgrl9: What is a “vendor take back mortgage”?
I am in Ontario, Canada…Can anyone explain what a vendor take back mortgage is and how it works in detail?
Thanks!
Best answer:
Answer by Christian93
In today’s market, a Canadian home seller may offer a take-back mortgage to help a potential buyer qualify for the purchase. In most cases, a take-back is used by a motivated vendor to ‘sweeten the deal’ in a slow housing market.
Basically, a take-back mortgage means that the vendor lends the buyer some of the equity in the home to help with the purchase. It is much like a second mortgage.
But if a take-back is offered, should you take it? As a vendor, should you consider it?
The answer is yes, but only if you are convinced that the deal makes good solid sense.
For more, click on the link below.
I got your email, but was unable to reply: This was my answer to your question: “I am not real sure about that, but if you will click on this link, it will take you to a Website. There is a link where you can email Rick Lanicek for questions. He may be able to help you. http://www.primelendingonline.com/
God Bless you.”
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Video Rating: 0 / 5
Street protests try to block evictions as more Spanish mortgage defaulters tumble into a deep pit of long-term debt. (July 7)
Video Rating: 4 / 5
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