I beleive so as this would cover the admin cost to prepare the discharge documents and confirm that the file is indeed paid up.

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We are first time home buyers and before we start looking for a house, we made sure that we are already pre approved. can a bank cancel their pre approval even if there are no changes in your credit worthiness and application details when you applied for the loan? what are the common reason? do we have to do another appraisal if we change lender?

Yes. A lender can deny the loan right up to the day of funding. But it is rare unless your financial circumstances change.

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I don't need more credit, i always pay off my credit cards on time. so what i want to do is to apply for the credit cards, fulfill the requirements to get the bonus points / certificates, etc., then cancel these cards once i get the bonus points. i will pay off the cards on time, accumulate no debt, no need to apply for mortgage either. does this affect my credit score? if i do this repeatedly with a bank, does it lower my chance of being approved for a card? thank you very much for your help.

Yes, it negatively affects you. Every time you apply, the credit card company checks your credit report leaving a hard inquiry. You lose points for have those inquiries. If you already have a high credit score it actually affects you worse than if you have a low one because each inquiry will cost you more points on average. You also lower your chance of being approved because, the companies look at a credit card spree as someone who is desperate for credit and more likely to run up a huge balance and be unable to pay it off. They really don't like potential write-offs.

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The full details of the situation follow the first paragraph the time being of the essence extension deadline expires jan 7.we do not have a firm mortgage commitment in writing from the buyers from a lender yetthat is 6 banking days from now! also, if buyers want to do walk through they were given the option in contract to do it 48 hours before.that only gives us 4 days to get ready.we live out of state and need a full day for traveling. we will need time to get lodging, get paperwork from the bank in order like the payoff for our mortgage.we will need to have the tax adjustments,and fuel and other stuff essential to closing made available.the more i go over this in my mind the less likely closing seems to be able to happen! we want to know asap as to whether they are ready to close.their agent has only said"it looks very promising for them".how long does it take for a bank to approve a mortgage?they applied to this bank over a week ago.they have been at this for over 2 months! can we demand to get a mortgage commitment in writing by tomorrow? ***the following is the question asked prior with full details will we be entitled to the buyer's deposit? we are in contract to sell our home. the buyer's had a mortgage commitment contingency clause. the clause specifically stated that they had to get a mortgage within 30 days of contract signing. it also stated that they had to let the sellers know whether or not they obtained the mortgage within the 30 days or the contingency would be waived and the contract would be binding. if they gave notice that they couldn't they or the seller could cancel without penalty. they did not give notice and we found out they did get a mortgage but they didn't like the terms. also, because they didn't notify us they didn't allow us the option of canceling. they got another mortgage but again did not like the terms. our lawyers sent a time being of the essence letter. their attorney was upset. we then offered them an extension of the time being of the essence. now their lawyer is again upset cause they wanted an extension of the contingency. he is threatening on challenging this so they won't give up their deposit. it sounds to us that they have no intention of trying to get another mortgage because they just can't get the amount and rate that is acceptable to them. we heard through a reliable source that they have no credit history and are having concerns with the monthly payments that they will have. we don't want their deposit but instead really want to close on the house. however, after all is said and done we have paid an extra month's mortgage taxes, maintenance, fuel electric etc on this house. ( we have been moved out for over a year) there were also verbal promises of closing within the 30 days and that they were "good for the money" . we,again, gave them an extension for closing to get a mortgage but they are upset. it seems they wanted another mortgage commitment contingency! sounds like their now trying to get out of the contract without penalty? we will not be the ones to default. their lawyer told our layer they will challenge the extended time being of the essence . what a mess! we're hoping it won't come to that and we will close on the house. they have to understand that the market is killing sellers everyday. the longer our house is tied up in this contract the more chance we will not be able to sell at this price when they finally cancel! are we entitled to the deposit at least?

"Time is of the essence" means exactly that. If one of the parties to a contract with that stipulation cannot perform the terms by that date, then that party is in breach of contract. The remedy is breach of contract damages, which in your case is the deposit (presuming your contract states that the deposit is "liquidated damages.") (BTW, "Time is of the essence" only has an effect if it is in the original contract. It is meaningless in an after-the-fact letter.) If I were in your shoes, I would say enough is enough with these deadline extensions. I would say that if buyers want another extension, then they must pay $X for that option. But, that's just me. Suggest it to your lawyer. Verbal promises are pretty much meaningless. Get it in writing. Also, if they got a mortgage, then they met the financing contingency, which means they cannot back out on that basis. Unless, of course, the financing contingency laid out specific terms for the financing, and the buyers were not able to get a mortgage within those terms.

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I have just recieved a letter fromhalifax bank about my mortgage account.it has been written in letter that we recently cantacted you about your mortgage property and unfortunately we do not appear to have recieved a reply.i now have reason to believe that you may have either let your property without our consent ,or left it unoccupied.while this may be an oversight on your part,it is breach of your mortgage breach. in these circumstances we will now take whatever action in necessaryto protect our security and we may reassess your mortgage and the basis on which we treat it. as we have not heared from you will now treat any tenacy you have granted as unauthorised.if you are letting your propertyand wishto apply for our consent please contact us to discuss this matter further. it is important you tell your building and contents insure,s if the property is let,or unoccupied for any time.failur to do so many results in your cover being cancelled.if you are insured through halifax general insurance please call us 0845 6006003 to discuss your circumstances. plesae kindly tell me that what should i write in reply? plesae kindly tell me in english.i have to ans today to this bank. best regards. waiting for yours reply.

It seems you should make contact personally at once. If you have been or are in violation of your mortgage, you best act quickly to get back in complance. I would suggest you take your documents to a real estate lawyer... soon. ps. This isn't a homework question. Homework means this you're studying in school.

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How do the land sabbath and jubilee years work (leviticus 25)? god says, "when you come into the land which i give you, then the land shall keep a sabbath to the lord" (leviticus 25:2; see exodus 23:10-11). following verses explain that each seventh year was to be a land sabbath, during which no crops were to be sown or harvested. if any produce grew by itself, it could be used for daily food by the farmer and the poor of the land (verse 6). debts incurred by the poor during the previous six years that had come due were to be canceled at the end of the seventh year (deuteronomy 15:1-11). after seven cycles of sabbatical years, a total of 49 years, the fiftieth year was proclaimed a jubilee (leviticus 25:8-12). again, the land was to rest from cultivation (verse 11), and all families that had become poor and had mortgaged their land could return to their possession (verse 13). these were major economic laws given by god, designed to prevent undue wealth acquired through acquisition of farm land from accumulating in the hands of the rich while the poor become further impoverished. god repeatedly emphasizes that people are not to oppress one another (leviticus 25:14, 17). deuteronomy 15 says that following these economic laws would bring god's blessing (verses 4, 6, 10). god wants people to learn to be generous and compassionate—to have a "give" attitude rather than one of "get." today's world, however, is characterized by materialism and greed. farmers driven by economics try to milk the last bit of production from their tired soil and livestock. economies collapse in wrenching depressions—or major recessions—and great hardship affects the world's economy approximately every fifty years. people practice selfishness and oppression of others. god's land sabbath and jubilee are intended to prevent this hardhearted attitude and the economic curses that naturally result. man is to forego his crop willingly in the sabbatical year and the jubilee by letting the land rest. he is to acknowledge god as the true owner of the land and be thankful for his generosity. in addition, he is to share the good things of the earth with others who are less fortunate. the rest from tilling the land provides opportunities for education, travel, community service, and spiritual reflection. god promises to perform a miracle by granting abundant crops in the sixth year of the cycle so that the bounty would suffice until a new crop could be harvested two or three years later (leviticus 25:20-22). this would be a continuing witness of god's power as provider, just as the manna in the wilderness had been. the question naturally arises, then, how can a christian apply these laws of god now? obviously, an individual cannot observe all the details of these laws, since that would require national legislation. an individual cannot have his own debts released, and there is no divinely appointed inheritance for each family today. but these laws are all for man's good, so we ought to observe them to the extent that this can be done in the present system. even where a law cannot be practiced in the letter, it should be kept in the spirit. we must not oppress anyone in our dealings, and we must strive to be generous, kindhearted, patient, and forgiving. a farmer who owes money to banks probably cannot let all his land rest every seven years, since he owes mortgage and other loan payments that must be made each year. in such a case, it is suggested that the land be rested in rotation so that each field receives its rest sometime during a seven-year period. if one is able to rest the whole farm at once, so much the better. he can reckon his seventh year from the time of his baptism or from the time that the knowledge comes to him regarding the land rest. (observant jews in the state of israel count their sabbatical years in the sequence 1993-1994, 2000-2001, 2007-2008, and so on.) god wants us to take care of the soil and to recognize that we are merely tenants on his land, responsible for maintaining its fertility. virtually all agricultural colleges know the benefits of crop rotations and of "resting" land by putting it in pasture or cover crops periodically. good soil conservation measures should also be practiced. god is concerned with how we use the resources he allows us to manage. he is judging each of us by how we deal with and treat our fellowman (i peter 4). thus, his laws and instructions are not archaic or quaint customs but living laws to be observed by god's people. where are the brains when we need them? let's talk about it, all of us on r/s. nothing is impossible with god. i know this seems impossible. i just wanted to put this out there so we could talk about it. thanks for your opinions. i sent this same thing to the president when he had that question forum. i know it was passed by. i know that god will take care of his own. i was thinking that morgages could be sqashed and home owners could have their homes free and clear and the government pay them off since the president is dishing out money like its water to a few big cats. there was a lady that wanted him to give every one $50,000 each. why do they show us the money machine anyway? that is so disrespectful.

I agree with you that nothing is impossible with God, but you have to realize and open up your eyes a little more and see that God is not going to 'fix' this economy. This bad economy has all been staged by the Satanic Illuminati NWO members, whose plan is to get rid of Judeo/Christian religions all together. There is no real 'flaw' in our economy, this is all an act, a well thought out economic depression just to scare people into a One World Government, from where takes place a One World Religion. Don't see the signs? The recent "One World Trade Center" Talks with China about "One World Currency" Government's ownership of businesses, which by definition is Socialism. Do you see a pattern here? I strongly suggest watching The Obama Deception. (Don't worry, its a non partisan film, so its not republicans bashing the democrats, it just exposes the NWO plans to destroy our nation and enforce a Martial Law, which would turn US into a military state.) Here is the link http://video.google.com/videoplay?docid=7886780711843120756

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. what does leasing a car involve? (points: 2) purchasing a car from a car dealer rather than from the previous owner using a loan to buy the right to use a car only on specific days of the week paying off the car loan over a period of time that's longer than the car is owned renting the car for a specific period of time and paying for its depreciation 2. when can a bank repossess someone's car? (points: 2) when the owner buys a used car when the owner gets into an accident when the owner cancels the insurance when the owner defaults on the loan payments 3. which of these makes a student loan different from other types of loans? (points: 2) students don't have to provide any collateral to get a student loan. student loans are sponsored and guaranteed by the government. the principal on a student loan is paid off before the interest is applied. the payments on a student loan can't be shown on an amortization table. 4. which of these describes how a five/one arm mortgage works? (points: 2) the monthly payment is one-fifth of the total purchase price of the house. the interest rate is fixed for five years and then changes every year afterward. the interest rate charged on the mortgage is five times the normal interest rate. the annual fees on the mortgage are only charged during the first five years of the loan. 5. what is one of the advantages of getting a government-sponsored mortgage instead of a conventional mortgage? (points: 2) government mortgages are easier to get approved than conventional mortgages. government mortgages allow home buyers to spend more money on their house. government mortgages charge lower interest rates than conventional mortgages. government mortgages prevent the government from taking the property for public use. 6. what is one advantage of using a credit card to make purchases? (points: 2) you earn interest on your purchases. you can buy something now and pay for it later. you automatically improve your credit history. you get instant access to your checking account. 7. match each of the fees below with the situations where a credit card customer would get charged. (points: 2) matching: answer potential matches: : annual fee 1: the credit card company requires a yearly payment for the right to use the card. 2: you use a new credit card to pay off the $1,000 balance on another credit card. 3: you pay your minimum payment one week after the due date. 4: you withdraw $500 from an atm using your credit card. : balance transfer fee : cash advance fee : late payment fee 8. why is it important for people to maintain a good credit history? (points: 2) so that the irs won't investigate them for tax fraud so that it's easier to list the expenses on their personal budget so that they know all of the fees associated with their credit cards so that they have an easier time getting loans and credit cards 9. which of these credit card features would be best for customers who think they might not be able to pay their balance at the end of each month? (points: 2) no fees for cash advances a high balance transfer limit a low annual percentage rate an annual fee that can be waived 10. match each of the credit card terms with its definition. (points: 2) matching: answer potential matches: : annual percentage rate 1: number of days to run a balance before fees or interest are charged. 2: a listing of a person's financial information and history 3: a credit card with money in a savings account to act as collateral. 4: the amount of interest paid on unpaid balances. : grace period : secured card : credit report

Okay, I've listed them as if your choices were a, b, c, d in that order: 1 is d, 2 is d, 3 is b, 4 is b, 5 is c, 6 is b, 7: 1 is annual fee, 2 is balance transfer, 3 is late payment and 4 is cash advance. 8 is d, 9 is c, and 10: 1 is grace period, 2 is credit report, 3 is secure card and 4 is annual percentage rate.

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Its a long story but here goes. i had applied last year in july to get a government loan to buy a home through the usda. well, i got approved on september 28th 2010. they told me to look for a home, get an inspection, a survey, and a termite inspection on which ever home i chose. i found a beautiful home outside the city (which is one of the regulations with usda). it was a foreclosure, was at a great price and a perfect location. i didn't have alot of money so i asked my dad to help me out and i would pay him back when my tax refund came back in february. my broker put in the offer and i put down $1000 in earnest money and was waiting for the inspection to be done. well it couldn't be done because the meter box was empty. the closing date was for december 13th with the seller but they gave me an extension till december 29th because the meter was finally put in on the 23rd. we finally had the inspections and survey done by the 28th. well i called my case worker from usda to ask her if everything was ready and she said that it was but they hadn't been released the funding from the government and would likely be in january. my broker talked to the realtor and the realtor was able to get an extension from the bank (seller) and they gave me until january 23rd. the realtor told my broker that they wanted another $1000 in earnest money and that it would be non refundable if it didnt go through. i signed the new agreement for the 24th and waited. on january 20th, the usda told me that they hadnt gotten the funds yet so i would have to wait a little longer. i started to panick because the seller would charge $100 per diem daily after that date. my broker tried talking to the realtor agent again and he was able to push for the 11th of february. well on the 9th, the bank (seller) called the realtor and told them that they were not going to give me anymore time. they cancelled it out and sent a form to the realtor who then sent it to my broker who sent it to me which was a release of money form to the title company. i was needing to sign it so the title company would release the money to the seller. i was so upset. my father decided to help me get the house. during that time, usda said they would be taking about 3 months to get the funds from the government. they had heard that congress was having problems and everything was put on hold. my father decided to put in an offer under his name since we had already paid for the inspections and survey. the realtor said no one could put in an offer until the earnest money was released to the bank (seller). i asked why should the bank (seller) keep the money and i was told that since the contract included a non refundable clause, i couldnt fight it. i went ahead and signed the form and sent it off. i investigated all the paperwork and found no where where it stated it was non refundable but only if i canceled the contract. i didnt. they did. i asked my broker for a paper stating that and all she sent me was an email that the realtor had sent her. it was just a regular email which did state the word nonrefundable but in his own words. well we submitted another offer through my dads name and the realtor sumbitted another buyer's offer as well. he failed to tell us till the last minute. well after all that the other buyer's offer was accepted! after all i have been through. i feel that they should not have kept the earnest money since it was out of my control. can i fight this? i have a feeling the realtor didnt want to share his commission with my broker so he made sure his other client would bid higher so he could keep 100% of the commission. anyways, i am working on my credit so incase the whole usda doesnt go through with what is going on with congress, someday i may qualify by myself for a mortgage. i was once told by an attorney that i should still be able to get reinbursed if i send the bank (seller) a letter. if they dont want to give it back, then i can go to file a small claim in court. i would appreciate any advice.

the waybreal estate works is the contract has to have contingencies, the most important one is the seeler must obtain financing if you did not have that contingency in the contract and did not close by the specified date you lose your ernest money, the contract is very clear you ahve no recourse