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judge · Joined: 11 Aug 2009 Posts: 1 0.00 Dollars($)

What are Credit Related Expenses

smithsussane · Posted: Wed Aug 12, 2009 12:38 am Post subject:

Hi judge!

Welcome to forums!

As far as I know, credit related expense is considered to be the foreclosed property expenses along with the provision for losses. To know about this, you can check out the given page:
http://www.mortgagefit.com/credit-related.html

Feel free to ask if you've further queries.

Sussane

manoj_gopale · Joined: 16 Feb 2009 Posts: 488 0.00 Dollars($)

judge

welcome to mortgagefit...

I will give a small example to elaborate this in current scenario.
Suppose you buy one property where you put your own $ 50,000 and rest $ 3,00,000 is loan from bank.
Now the market value of the home is less than what you owe to the bank i.e. $ 2,00,000. So if the house is foreclosed or short selled at $ 2,00,000 then your credit related expenses are $ 2,00,000 plus property taxes for the ownership period plus interest charged by the lender on the mortgage....

So it is really a big loss to face the foreclosure.It should be the last option on person's agenda....
keep in touch.....

gmakerley · Posted: Wed Aug 12, 2009 9:16 am Post subject:

off topic much?

Company	Loan Type	APR	Est. Pmt.
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Property State:
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