When a loan is obtained, what must be repaid in installments is the amount collected and the interest due, which is the bank’s remuneration for the loan disbursed, and other related expenses. So how do you calculate interest on a mortgage? Let’s take a look. When a bank issues a mortgage,Continue Reading
For most of us, a home is the most expensive investment we’ll ever make, and it’s a good option. Throughout the scripture on the opening pages of Genesis, God speaks of the land as a possession and investment worthy of our efforts, saying in Jeremiah 29:5, “Build houses and makeContinue Reading
Before buying a house, you should save a lot of money for a 20% prepayment. If you can’t, it’s a safe bet that your lender will force you to take out private mortgage insurance (PMI) before you sign up for the loan if you’re taking out a standard mortgage. TheContinue Reading
The reverse mortgage is a way to obtain an income to complete your payment when you retire, taking advantage of your home. It can be instrumental, but it also has its risks. There are many ways to take advantage of a house to retire better and complement the public pension.Continue Reading
Purchase contract The contract for the sale of a home can be made either in a private document, or in a public document (authorized by a Notary Public ), but the buyer has the right to demand the public form (the Civil Code says that it must be recorded in a public deed).Continue Reading
Depending on his financial situation and his previous financial transactions, a borrower may need to obtain new credit or make a credit consolidation, in addition to a first mortgage loan. The second mortgage allows the use of real estate held as collateral despite the existence of a first mortgage. If the second lender hasContinue Reading
Can you transfer a mortgage? When you sell a home or one of the owner’s moves, it might make sense to transfer the mortgage to the new owner. Instead of applying for a new loan, paying closing costs, and starting over with the higher interest charges, the homeowner will onlyContinue Reading
Buying a house is no longer for life. If before the signing of a mortgage was a unique moment for many families who saw the dream of buying their first home come true, now the panorama regarding housing is quite different. Either because the real estate market has been reactivating in recent years afterContinue Reading
Most people think of bankruptcy as liquidating assets to pay off debts before any remaining balances are discharged. However, a Chapter 13 bankruptcy is about creating a court-ordered plan to pay off your debts. With Chapter 13 you have at least some income, but there is no reasonable way youContinue Reading
If you have difficulties paying your mortgage, you can request a deferment until March 30, 2021. During this time, the creditor entity may not demand payment of the installment or any of the concepts. You will also not be able to increase the debt with new surcharges or interest. The accumulatedContinue Reading