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Settlement Costs Included in Annual Percentage Rate
July 11, 2002, Revised December 4, 2004 In principle, the APR should include all settlement costs that would not arise in an all-cash transaction. Unfortunately, the current definition violates this rule in a number of instances, with no rhyme or reason. The columns below ... more... Stated Income Loans: Lie to Get a Better Rate? June 20, 2005 Stated income loans are also called ?liars loans?, because in some cases, the rules virtually invite the borrower to lie. The case below is a great illustration. ?My husband makes $7,000 a month but has a credit score of 503. I make $1250 and have a score ... more... |
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joint tenancy related definitions |
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Joint Tenancy
Joint Tenancy Ownership of a property by 2 or more people, each of whom has an undivided interest with the right of survivorship. Example : Two people own a house in joint tenancy. Each owns half of the entire (undivided) property. If one dies, survivor will own the entire ... more... Reverse Mortgage Reverse Mortgage, Reverse Annuity Mortgage, RAM A form of mortgage in which the lender makes periodic payments to the borrower using the borrower's equity in the home. A mortgage used by the elderly that provides income as a way of converting their home equity into a ... more... |
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More about joint tenancy
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