Mortgages

More in Mortgages

Are Home Appraisals a Tax Write-Off?

Home appraisals, for owner-occupied home purchases or refinancing purposes, are not a tax write-off. If the home appraisal is completed for a charitable donation of a house, it becomes tax deductible as part of the value of the property donated. If you've had a serious casualty ...

Credit Union Mortgage Vs. Bank Mortgage

Both credit unions and banks provide consumers with a variety of financial products and services that include mortgages and home loans. While lending options vary from institution to institution, there are pros and cons to financing options available through banks or credit ...

How Do Equity Accelerators Work?

The majority of Americans use 30-year mortgages to finance the purchase of their primary residence. With a 30-year mortgage, the overwhelming majority of the monthly payment goes toward interest. After five years, the typical 30-year loan still has 97 percent of the principal ...

How Treasury Yields Affect Mortgage Interest Rates

Treasury yields are related directly to mortgage interest rates, which affect home buying and refinancing decisions. Yield is the ratio of annual interest payments to current market price, expressed as a percentage. Treasury yields are a function of monetary policy and general ...

Can I Claim My Parents House if I Pay the Mortgage?

Not all good deeds lead to punishment. If done correctly, paying your parents' mortgage is an example of this. As long as the mortgage meets conditions imposed by the Internal Revenue Service, you can claim the interest you pay as a deduction on your taxes if you have ownership ...

How to Use a 401(k) as a Reserve for a Mortgage

When you secure a mortgage for a personal residence or investment property, your lender will require a large amount of personal information, including your credit report and history, your employment information and the value of your assets – specifically your liquid ...

How Much of a Tax Deduction Do You Get Back on Home Loan Interest?

The home mortgage interest deduction is a major tax break for homeowners and is among the oldest of income-tax deductions. It was included in the original Income Tax Act of 1913 as a way to encourage homeownership, and survived the 1986 tax act that eliminated most other ...

Are Surviving Children Responsible for Mortgages?

In most cases, children are not obligated to pay a deceased parent's debt. However, if the child wishes to keep a home with a mortgage, the child may be responsible for making the payment. Even if the child isn't directly responsible, the estate is often required to satisfy ...

Do I Get the Deed After I Pay Off My Mortgage?

You've paid off your mortgage loan, and you're ready to celebrate. But before you do that, you first need to officially inform your county's land records office that you have finished paying back your loan. Do this correctly, and you will receive your mortgage note or deed of ...

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