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Keep your mortgage documents and related home sale records for at least seven years after selling your home. This includes proof of mortgage payoff , the closing statement and receipts for capital ...
A mortgage statement is a document containing the latest details about your loan, including your monthly payment. The law requires your mortgage lender or servicer to send you statements for each ...
Form 1098 is used to payments of mortgage interest, mortgage insurance premiums and points in excess of $600. Lenders and businesses that receive these payments are required to record them on Form ...
Chancel repair liability. Chancel repair liability is a legal obligation on a small number of property owners in England and Wales to pay for certain repairs to a church, often the local parish church . Where people purchase property within land that was once rectorial (part of a rectory or glebe ), they may acquire a responsibility to fund ...
In finance, a security interest is a legal right granted by a debtor to a creditor over the debtor's property (usually referred to as the collateral [ 1]) which enables the creditor to have recourse to the property if the debtor defaults in making payment or otherwise performing the secured obligations. [ 2] One of the most common examples of a ...
Payment protection insurance ( PPI ), also known as credit insurance, credit protection insurance, or loan repayment insurance, is an insurance product that enables consumers to ensure repayment of credit if the borrower dies, becomes ill, disabled, loses a job, or faces other circumstances that may prevent them from earning income to service ...
You might not remember it, but in 2019, Congress reintroduced a federal tax deduction for private mortgage insurance (PMI), that extra monthly fee lenders charge if you make a down payment under ...
For many homeowners, one of the milestones on the path to financial independence is being able to pay off their mortgage. With typical mortgages lasting 30 years, it can take a long time to meet ...