Morgage Rates, Morgage Calculators, Morgage Refinancing
A quitclaim deed is a term used in property law to describe a document by which a person (the "grantor") disclaims any interest the grantor might have in a piece of real property, and passes that claim to another person (the grantee).
An example of a circumstance where a quitclaim may be used is where one spouse (grantor) is disclaiming any interest in property that the other spouse (grantee) owns. A quitclaim deed would typically be used in this circumstance.
Another common form of quitclaim deed is the tax deed, which is used by government authorities when selling properties seized for nonpayment of taxes, as the authority will not promise that the buyer will obtain clear title to the property. It may be possible to obtain such assurances, for a fee, from a title insurance company or an attorney who performs a title search.
In most common law jurisdictions, a quitclaim deed is not technically considered to be a deed at all and in some jurisdictions a buyer who receives a quitclaim deed may not be considered a bona fide purchaser for value unless the quitclaim deed meets certain requirements. It fails to meet all five traditional tests of a true deed found in common law. Instead it is considered to be an instrument of estoppel, which means it estops or prevents the grantor of the quitclaim deed from later claiming that he or she has an interest in the property. Title companies may be unwilling to issue title insurance based on a quitclaim deed; thus, quitclaim deed holders may have to obtain further proof that a bona fide sale occurred or institute a "quiet title" action in a court to obtain clear title.
The grantee in a quitclaim deed (or a grant deed or warranty deed) receives no better title than what the grantor possessed.
In the Commonwealth of Massachusetts, a quitclaim deed is known as a release deed.
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Morgage Refinance Rate-Term vs. Cash-Out Morgage Refinance
A rate-term morgage refinance has a home loan amount that is just enough to re-pay the balance of your existing Morgage loan. The purpose of the morgage refinance could be to reduce your Morgage interest rate, adjust your home loan term, or both. Cash-out morgage refinancing, has a home loan amount that exceeds the current Morgage balance. The higher loan amount converts some of your home equity into cash that you receive at loan closing.
Home Equity Loan and Home Equity Line of Credit
A home equity loan has a fixed interest rate and term, your payment is the same every month. A home equity line of credit has a variable interest rate with a draw period of 10 years and a repayment period of 15 or 30 years. During the draw period, your monthly payment may be as low as the interest on your outstanding balance. Home equity loans offer terms between five and 30 years. Home equity lines of credit can be drawn on for 10 years.
morgage Calculator
Morgage calculators are often one of the first steps in the morgage refinance process. Use a morgage calculator to determine the morgage amount you can afford and the monthly Morgage payment. If you'd like to qualify for a larger morgage when refinancing, then use our morgage calculator and consider an adjustable rate morgage. An adjustable rate Morgage has a lower interest rate than a fixed rate morgage. The lower interest rate will allow you to qualify to borrow more money, for the same monthly Morgage payment.
morgage Qualification
To determine the maximum Morgage amount and monthly payment that you can afford for your new home or your morgage refinance, use our morgage calculator. morgage calculators can also be used to calculate payments for home equity loans or debt consolidation loans. Each Morgage calculator makes it simple to estimate how much you can afford to borrow and your monthly payment.
morgage Loan
If you know the monthly Morgage payment that you'd like for your morgage refinance, then use the morgage calculator to simply calculate the morgage loan amount based on the term of the loan and interest rate.
Morgage Prepayment
If you're thinking of refinancing your current morgage loan for a lower monthly Morgage payment, then enter the new morgage refinancing terms, add an additional amount to the monthly principal payment and calculate the interest saved by paying your Morgage loan balance in less time.
morgage Amortization
It's easy to keep track of the principal, interest and Morgage balance of your loan with our morgage calculator.
Morgage Refinance Calculator
If you are considering refinancing your present morgage loan, then use our morgage calculator to compare your present loan with the new morgage loan. Even though the monthly payment may be lower, the total of payments may be greater for the new loan.