Archive for the ‘losses’ tag
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Tony Walker Finanicial: Borrow Against Your Insurance
www.tonywalkerfinancial.com orcall 1-877.499.WALK Retirement Specialist – Tony Walker, from Tony Walker Financial, talks with a caller about borrowing against their Life Insurance. Tony has over 25 years of experience in the financial services business and is a leader in his community. He is an author, a film maker, and currently appears every Monday morning on NBC affiliate WAVE TV in Louisville Kentucky, where he is co-host on a live call in show answering questions from an audience of over 500 thousand households. And just as importantly, Tony has a real pulse on what Americans are thinking since he works personally with so many people, from all walks of life.
Tony Walker Financial: A Money Minute – What is Long-Term Care Insurance?
Tony Walker, Retirement Specialist, from Tony Walker Financial, shares his thoughts on retirement and money. Learn more about him on: www.tonywalkerfinancial.com 1-877.499.WALK Tony has over 25 years of experience in the financial services business and is a leader in his community. He is an author, a film maker, and currently appears every Monday morning on NBC affiliate WAVE TV in Louisville Kentucky, where he is co-host on a live call in show answering questions from an audience of over …
Can i get a mortgage for more than the purchase price if it’s less than the value of the property?
I’m looking at a repossessed house which is on the market for 48k. According to the HIP it was bought in 2004 for 20k and was repossessed 1year ago.
By my reckoning, there shouldn’t be too much owing and the lender may be willing now just to recoup their losses as they’ve been trying to sell for a while.
The problem is that the house needs repairs to make it habitable and i’m looking at ways to finance the works.
If i put in a cheeky offer which is accepted of say 30k, could i borrow say 40k on a mortgage which is still less than the current value of 48k? I’d be putting down a deposit of 4k which would be the necessary 10% on a 40k mortgage.
Alternatively, would it be necessary to take a personal loan for the repairs and refinance when the work is done, paying off the loan by remortgaging?
D’uh, why didn’t i think of asking the bank??
I’m seeing a mortgage advisor tomorrow but asking on here first is going to help me to know the questions i need to be asking them. Perhaps another answers user has had a similar experience?
Thanks Robin, The house is in the North East of England, North of Newcastle.
Enough with the spamming please!
