Mortgage Financing Tips

The amount of the regular payments necessary to amortize a title loan in Atlanta over a given period of time depends on several factors: the frequency of payments (usually monthly for mortgage loans), the terms or period of repayments, the interest rate, and the amount borrowed. The table below shows the monthly payments for each one thousand dollars borrowed at various interest rates and terms. You can apply the table to any principal amount simply by multiplying the factor shown by the number of thousands of dollars borrowed.

Term of Loan

Interest Rate    20 Years        30 Years         40 Years

6%                      7.16                  6.00                  5.50

7%                      7.75                  6.65                  6.21

8%                      8.36                  7.34                 6.95

9%                      9.00                  8.05                 7.71

10%                    9.65                   8.78                 8.49

11%                   10.32                   9.52                 9.28

12%                   11.01                   10.29              10.08

13%                   11.72                   11.06               10.90

14%                   12.44                  11.85                11.71

15%                    13.17                  12.64               12.53

16%                    13.91                 13.45               13.36

17%                    14.67                 14.26               14.18

18%                    15.43                15.07                15.01

Several observations can be made the level-payment fully-amortized loan. The principal balance declines very slowly during the early years. After five years of regular payments on the loan in the foregoing example, the principal would be reduced to $95.880, a reduction of only $4120. Since principal amortization is in a sense a form of forced savings, some households might prefer to minimize, or even eliminate entirely, the amortization component. If the owner wishes to resell the house after five years, it will probably be easier for a prospective buyer to “take over” the loan if balance is still quite high. On the other hand, the lender will generally prefer a relatively more rapid reduction in principal, since the loan is seen as a safer investment if this occurs.

Each monthly payment is partly allocated to interest and partly to principal. These allocations change over time.

The level-payment fully-amortized loan is very widely used in single-family home financing, and quite commonly employed with commercial and industrial property as well. However, beginning in the late 1970’s, both federal and state regulators of lending institutions began to permit loans.  For example, adjustable rate mortgages (ARMs) permit modification of the interest rate during the life of the loan (with concomitant changes in maturity or monthly payment).  They have become popular among lenders, who are seeking relief from the financial stress they have experienced as a result of holding portfolios of fixed-rate mortgages during recent periods of rapid fluctuation in their cost of funds for title loans in Atlanta.

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Land Descriptions

Land Descriptions

Land Descriptions

Land is fixed in place so if it is to be divided among various people, it must be marked by monuments where they exist or directions must be given explaining how it is or can be a monument to designate a car title loans Atlanta location. The earliest land holding were dependent upon found or set monuments that delineated limits of ownership. But monuments and marks on the earth’s surface are subject to destruction or movement by intentional or unintentional means. Trees die, wooden stakes rot, rivers change their course, and ploughs remove stakes. Certainty of boundary lines dependent upon monuments may be destroyed with the destruction of the monuments marking them. To cope with the problem of replacing lost or destroyed monuments, especially in the Nile valley of Egypt where frequent floods destroyed many land markets, man invented measuring methods that would enable him to reset new monuments reasonably close to the spot occupied by the old monuments. Measurements start from some definite point, a monument, and go a fixed distance in a given direction. By relating numerous monuments to one another by measurements, a lost monument can be replaced by distance and direction from other monuments.

Land ownership have shape, size, and location. The shape and size of a parcel of land may be defined without the aid of monuments, i.e., a square, a parallelogram, a circle, or an irregular parcel by bearings and distances. But the place where the particular shape is located is related to a fixed monument on the face of the earth. Theoretically the position of land can be defined by latitude and longitude without the aid of monuments, but, because of technical difficulties in pinpointing a particular latitude and longitude, it is rarely done. All the advancements in land location technique have not eliminated the monument as the ultimate means by which land is controlled.

In the early days in the United States free surveys often existed. A surveyor could start at any point, survey a selected quantity of land, monument, and describe it. He was not limited by previous ownership or previous surveys. Today practically all boundary surveys are dependent partly or wholly upon monuments or points previously established on the earth. If a new parcel is described, it is related to existing boundaries which in turn are related somehow to a fixed monument. If a new parcel is established by survey, it is done by measurements from fixed monuments. Monuments are the backbone in relation to where land is located and help direct you to the nearest location for car title loans Atlanta.

Boundary Control and Legal Principles

Types of meters and bounds conveyances

Several types of Atlanta car title loans and bounds descriptions exist, some being so closely related to subdivision descriptions that they could be considered as a quasi-subdivision description.

Described by Successive Bounds

In the most common metes and bounds description, and the one normally considered to by the true metes and bounds description, all the bounds are described in successive order, the bounds being fixed by reference to a map or document, by bearing and distance, by monuments, or by all three. The purpose of any convey, by written language, a parcel of land of the exact shape, size, and location offered for sale by the grantor. Although it is desirable to use as short a description as possible, it is often necessary, when a clear intent is expressed, to use many words describing each bound. All too often a shot description can alter the meaning of a deed, and a long description written by an unskilled person frequently shows conflicts among the terms of a deed. The following quasi-metes and bounds descriptions are discussed along with true metes and bounds descriptions.

Scrip Conveyances and Stationing

Describing a road easement or right of way by a strip deed, the form “A right of way for road purposes over and across a strip of land lying 30 feet on each side of the following describe d center line:” is used. Generally the stationing system, that of starting from an arbitrary point called and assigning each point on the line a station that is dependent upon its distance from the starting point, is employed. If a point is 1,327.62 feet from the arbitrary starting point, said distance being measured along the center line of the strip, the station is 13+27.62. Every 100 feet along the center line, be it on a curve or angel, is an even station; the plus number is the added distance beyond the station. The stationing system was devised for the convenience of the surveyor in note keeping and map notations. Any object along a right of way, such as power pole, may be located by a simple note.

Conveyed by Division Line

A portion of lot divided by a road or a natural monument is described precisely and simply by the form “all of lot 12 lying northerly of U.S.  Highway 80 as it now exists” or “all of lot 12 lying southerly of Boulder Creek.” Longer descriptions result from the usage of the form “all of lot 12 lying northerly of the flowing described line.” The bearing and distance description of the line following the general statement requires many more words that the two simplified example above.

Land Conveyed by Distance

The shortest quasi-metes and bounds deed is of the type “the easterly 50 feet of lot 2.” The junior deed, “all except the easterly 50 feet of lot 2,” is for the remainder of the lot. This type of deed is easy to write, but it may be misinterpreted by the parties of the deed, since the 50 feet is measured so as to give the senior deed (the buyer) the maximum area whereas the junior deed has the remainder of the area of  the land for locations of Atlanta car title loans.

The Statute of Frauds and Part Performance

The Statute of Frauds

The Statute of Frauds

No law says the parties must have a contract at all or an Atlanta title pawn is null and void. If P is merrily walking down the street one day, spots V’s house with a “For Sale” sign in the front yard, and decides she would like to buy it, she can simple knock on V’s door and begin haggling with him about the price. If they can agree, P come pull out her checkbook and write V a check, in return for which V can write a deed to the property (the bank of an old envelope will do) and immediately hand it to P. Presto, the transaction is completed! Even here a purist might argue that there was an (oral) executor contract of sale for a few brief moments, but if so it was an executor contract of sale for a few brief moments, but if so it was an exceedingly ephemeral and unimportant one.

In real life things seldom happen this way. Instead there is usually a rather detailed written agreement of sale, often filled in on a printed form. Considerable time say 30 to 90 days or more commonly passes between the contract’s execution and its performance by a deed to her.

Why the delay, and why the need for a detailed contract? Two reasons stand out at Atlanta title pawn:

  1. P wants to be certain that V really owns the property, and that V’s title is “good” or “clear” or marketable.”  This determination takes time and money, and P does not want to go to the trouble unless she is confident that V is committed to completing the sale at the agreed price.
  2. P need to borrow part (usually most) of the money needed to buy the house. Again, obtaining a loan involves time, trouble, and considers P’s application for a loan unless she has a signed contract of purchase.

 

These are the two most pervasive reasons a contract and an “executor period” are needed. You may be able to think of many more. Here are a few possibilities:

  1. P needs time to sell her previous house or terminate her existing lease and to arrange to move her personal effects.
  2. V needs time to find another home and to arrange to buy or rent it.
  3. P is concerned about the physical condition of the house the roof, plumbing, furnace etc. and wants an expert to inspect them and report it, since she will live close to a semi truck title loans.

 

Introduction to Mortgage Financing

 

Mortgage financing Tips

Mortgage financing Tips

Mortgage financing Tips It is quite rare for a buyer real estate to pay cash. In the majority of cases, he or she must obtain financing from an Atlanta title loan or some source to complete the purchase. Although financing can take a wide variety of forms, it is usually one or a combination of the following: (1) a loan from a third party lender (a bank) to the buyer; (2) the “taking over” by the buyer of the payments on an existing loan which the seller or some former owner obtained from a third party lender; and (3) financing provided by the seller himself, in the form of a deferral of receipt of some portion of the purchase price.

The obligation to repay the financing cases is generally represented by a promissory note (or sometimes by a bond or contract) requiring monthly or other regular installment payments. Since real estate is usually considered to be excellent security for a loan, most financing which is extended to enable the purchase of realty is also secured by that same realty, commonly by means of an instrument known as a mortgage or deed of trust.  Thus a mortgage involves a transfer by a debtor-mortgagor to a creditor-mortgage of a real estate interest, to be held as security for the performance of an obligation, normally the payment of a debt evidenced by a promissory note. If the debtor defaults on the note, the mortgage can have the real estate sold and the process applied toward payment of the debt.

Of course, not all mortgages are related to sales or purchases of property; an owner may borrow money to start a new business or to send his or her children to college, and may give a mortgage to secure repayment of the loan. In American law, the characterization of a mortgage as “ purchase money” in nature has important consequences with respect to its priority as against competing liens, and some states with respect to the ability of the lender to obtain a “deficiency judgment” if the borrower defaults and the real estate does not bring enough to pay the debt. However, the details of doctrines are outside our present scope.

Today most mortgages are amortized or repaid over a substantial number of years. Until the 1930’s most mortgages, however, were of the “balloon-note” type. Typically these were short –term mortgages for three to five years, and borrows made only interests payments until the maturity date of the motorcycle title loans Atlanta.

What are mutual funds?

What are mutual funds?

What are mutual funds?

Mutual funds are investment companies that accept funds from many investors who have similar investment objective and use the pooled funds to purchase a diversified portfolio of securities one of which would not be accessible at title pawn Atlanta. For example, bond funds restrict investment to bonds, equity funds invest in stock, and balanced funds invest in both stocks and bonds. In exchange for the investment, the investor is created with a number of shares in the mutual fund. The price of mutual fund shares fluctuates with the performance of the securities owned by the fund. The owner of the mutual fund shares may sell his for her shares of the mutual fund at any time.

Administration of mutual funds

Management companies (such as Dreyfus, Fidelity, and T. Rowe Price) administer mutual funds. These companies have investment advisers who analyze investments and make recommendations, and fund managers who decide when to buy and sell securities. Each mutual fund is designed and managed to meet the investment objective of a specified group of investors. Common investment objectives of mutual funds included current income, capital appreciation, income and appreciation, conversation of principal, and tax avoidance. The Fidelity Magellan Fund, administrated by Fidelity Investments.

Composition of mutual funds

Although sometimes viewed as monoliths, mutual funds are made up to many individual security investments. Portfolio composition refers to the individual securities in the portfolio. Under “Composition,” we learn that as of January 1997, Fidelity Magellan had 5.7 percent of assets in cash, 93.5 percent in stocks, and 0.8 percent in bonds. The stocks in the portfolio, cyclical industrial companies had the highest weighting (23.2 percent), followed by services (16.3 percent) and energy (16.1 percent). Under “Portfolio Analysis,” we learn that Fidelity Magellan held 529 different stocks and 26 fixed-income (bonds, for example) securities. The largest individual security position we are in US Treasury notes (2.90 percent), Caterpillar (2.01 percent), and CSX (1.53 percent). The fund manager, Robert E. Stansky, is free to buy and sell securities at any time. If the fund manager invests in securities that perform well, the portfolio will also perform well. The securities selected do not perform well; the overall performance of the portfolio will also be unfavorable.

Mutual fund share prices: The NAV

One of the most quoted values with regard to mutual funds is the net asset value. The net asset value (NAV) of a mutual fund is the per unit price of the fund – the price at which shares are purchased and redeemed by semi-truck title loans.

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Types of Mutual Funds

Types of Mutual Fund

Types of Mutual Fund

Motorcycle title pawn is one of the many different types of mutual funds or financial instruments that are available. The wide range of funds permits investors to match their investment objectives with the stated objectives of the fund. Next we briefly describe each of the major types of mutual funds. Then we discuss some guidelines for choosing the fund that’s right for you.

Growth Funds

A goal of many investors is growth in the value of their investment. Growth funds are mutual funds that emphasize capital appreciation rather than current income. Growth funds can be divided into two categories: long-term growth funds and aggressive growth funds. Long-term growth funds invest in large, mature companies that are expected to perform well without undue risk to the purchaser. Examples of long-term growth funds include Long leaf Partners, Fidelity Blue Chip Growth, and Harbor Capital Appreciation. Aggressive growth funds seek higher rewards but also accept more risk. Aggressive growth funds invest in new companies that have just “gone public,” small companies that have yet to establish a record of performance, and other, more speculative investments. The AIM Aggressive Growth Fund, Janus Mercury Fund, and Franklin Small Cap Growth Fund are examples of aggressive growth funds.

Income Funds

Income funds are mutual funds that emphasize current income rather than capital appreciation. Some investors, especially retirees who have a fixed-income and face a low marginal tax rate, prefer current income to capital appreciation. Current income from such funds can be used to supplement other sources of retirement income. Some income funds invest in government and corporate bonds. Other income funds invest in stocks with high dividend yields. Income mixed (or balanced) funds invest in government and corporate bonds as well as stocks issues, generating income from both interest payments and dividends. Some mutual funds that emphasize current income include Smith Barney Equity Income, USA Income, and Oppenheimer Equity Income.

Growth and Income Funds

Some investors desire a mix of current income with capital appreciation potential. Growth and income funds combine these objectives by purchasing common stock in companies that have a proven record of dividend payments and also have growth potential. Investors receive a steady stream of dividend income and at the same time are provided long-term capital gains incomes. Examples of funds that combine these objectives include Kent Growth and Income, Mutual Beacon, and Principal Preservation S&P 100 Plus.

Balanced Funds

Another common offering is a balanced fund. Balanced funds are mutual funds that have several objectives. These funds attempt to maintain principal, generate income, and provide long-term growth so as to avoid a motorcycle title pawn.