What precautionary steps i should take before buying a land/plot in India (Tamil Nadu).?
Answers: see the vc certificate
land patta
goverment approval
water ,road,hospital facility... check the documents- make sure they are perfect.
check if the plot is under loan.
hope that helps
if you can afford it, go look at it yourself!
What is the main difference between FHA and Conventional Loan?
Why most people cart convetional loan rather than FHA?which one is better? Safer? what is the difference?
Answers: Read here: http://www.fhainfo.com/fhavsconventional...
You don't want to do an FHA loan if you can qualify for a Conventional loan, because the rates are better on Conventional loans, and you can do an 80/10/10 to avoid PMI altogether.
Some seller also, will not entertain a buyer who have FHA financing, which is perfectly legitimate.
FHA loans typically lend at a lower limit than a conventional loan, but also provide the leeway of purchasing with smaller amount equity, lower downpayments, lower PMI rates, and better rates for people near imperfect credit. A conventional loan is really simply better for people borrowing substantial purchase amounts but hold perfect credit and can qualify for PMI avoidance type loans such as an 80/10/10 or an 85/15. Be meticulous of these loans though, as the secondary mortgages are commonly set up as interest only loans to lower the money deceptively, leaving you next to a large amount to payoff or reifnance at the close of your mortgage.
What should be the cost for not making a final balloon gift?
I have give them plenty of time,,what can i do..if i foreclose it will go to auction and may filch up to 6 monthsAnswers: hmmm ... than info should be on the note!... give them plenty of time for what?? are you holding a note?? can they not obtain a loan now?? can you modify the loan, extending the jargon for a little while?
If you hold the minute and don't want to foreclose then settle with them and breed arrangements to make payments.