Home arrow Mortgage Forums arrow Forums: Learn from other's experiences arrow

Is it legal in Texas to amortize a loan according to the us

Author Message
Icon Mini Profile jmh2734





Joined: 24 Jul 2008

Posts: 1

1.34 Dollars($)
Post Posted: Thu Jul 24, 2008 9:57 am    Post subject: Is it legal in Texas to amortize a loan according to the us
Like 0
Dislike 0

Is it legal in Texas to amortize a loan according to the us rule?

Can you use the use the US Rule of amortization on a mortgage loan repayment in Texas? This type of amortization is also know as negative amortization.
Johnny1

Guest







Post Posted: Fri Jul 25, 2008 3:31 am    Post subject:
Like 0
Dislike 0

I am not sure about that. Why don't you check it out by an attorney?
Icon Mini Profile ckalvesmaki

Community Expert
Community Expert



Joined: 28 Jan 2006

Posts: 378
Location: Dallas
56.51 Dollars($)
Post Posted: Fri Jul 25, 2008 1:51 pm    Post subject:
Like 0
Dislike 0

Neg Am loans are allowable in TX as long as the home is not an A6 property........however I do not believe this loan is offered anymore.
_________________
Cedric Kalvesmaki
***Professional Disclaimer***
While I am a Mortgage Professional, this advice is generic in nature only.

888-383-9019

emails and PMs gladly answered
www.freedommortgagetexas.com

Freedom Mortgage
I live in TX but cover all 50 states
angela

Guest







Post Posted: Sat Oct 03, 2009 7:11 am    Post subject: deed of trust
Like 0
Dislike 0

the title company kept our warranty deed for ten years and i asked her why and she said it came back in the mail and we just didnt bother sending it again. What do you think thats all about? Who records the release of deed of trust?
Icon Mini Profile gmakerley
gmakerley
Community Mentor
Community Mentor

best lender badge

Joined: 09 Nov 2007

Posts: 12330
Location: bloomfield, ct
50.03 Dollars($)
Post Posted: Sat Oct 03, 2009 9:51 am    Post subject:
Like 0
Dislike 0

it's a bit odd, angela, but you're still the owners, so i'd think it's not particularly hazardous to you. the answer you got was a bit flippant, and i'd suggest you get back to them to let them know you're not happy. it may not reap a great benefit to you to do that, but someone else might profit from your doing so.
_________________
George M. Akerley
Independent Contractor - Mortgage Consultant
Word of Excellence Editing/Writing/Proofreading
860-221-5044
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Highlights
Bookmark this page
Share |

Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

MortgageFit on Twitter

Followers (265)








Community Chat

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 0.065 seconds.