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 harrywallace07
Joined: 25 Aug 2009
Posts: 42
-0.10 Dollars($)
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 Posted: Fri Aug 28, 2009 6:28 am Post subject: shared appreciation mortgage |
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| what is shared appreciation mortgage |
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Realgeni
Joined: 13 Apr 2009
Posts: 1434
99.76 Dollars($)
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| Posted: Sat Aug 29, 2009 12:50 pm Post subject: |
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harrywallace07
Welcoem to the forum
For Shared Appreciation Mortgage the buyers need to pay less interest rate to the lenders providing a share of the future appreciation value of the home. The rate if interest is based on the the appreciation
One of the requiremsnts is that the buyer shoudl nto have owned ahouse in the last 3 years
Good luck and feel free to ask |
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robertcampbell07
Joined: 25 Aug 2009
Posts: 52
-0.11 Dollars($)
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| Posted: Sun Aug 30, 2009 8:49 am Post subject: |
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The share of the appreciated value is known as the contingent interest, which is determined and due at the sale of the property or at the termination of the mortgage.
you need to take care for:
how the appreciation will be determined: There are 2 ways,an appraisal or sale. In either case, if you (the borrower) do not have the appreciation money to pay the lender at the time it is due, the lender may force a sale.
what happens if the house does not appreciate in value or depreciates? |
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ross090909
Joined: 04 Sep 2009
Posts: 82
0.00 Dollars($)
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| Posted: Thu Sep 17, 2009 10:04 am Post subject: |
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