The portion of principal and interest due on a loan that is written off when deemed to be uncollectible.
Without knowing what the term and rate is on the existing 1st and 2nd mortgage it is hard to answer this question. To get a better hold on this decision it would be beneficial to use a loan consolidation calculator or mortgage payment calculator. A refinance that consolidates two mortgages is similar in process to
One mortgage point equals 1% of the loan amount. Points are generally used to reduce the interest rate on the mortgage loan, though this is not always true. If points are reducing the interest rate, the more points that a borrower pays, the lower the interest rate. A mortgage calculator that analyzes closing costs can
Wainwright Bank & Trust Company is a Boston based bank that has 12 additional bank branches in the surrounding area. Wainwright Bank is positioned to provide consumer and commercial mortgages, loans, and deposit services to individuals, families, businesses, and non-profit organizations. Lending program provided by the bank include; adjustable rate mortgages, fixed rate mortgages, fixed
May be required on new loans to determine if there is an infestation of termites or other pests in the home, generally reserved for FHA loans.