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2. Mortgage recasting: What it is and how it works - AOL

   www.aol.com/finance/mortgage-recasting-works...

   The monthly payment is $1,074 (excluding escrow payments). After 10 years, your outstanding mortgage balance is $162,684. You then decide to make a $50,000 lump sum payment to recast the loan ...

3. A Guide to Property Taxes on Your Home - AOL

   www.aol.com/property-taxes-used-calculate-them...

   Calculate the taxable value: In this case, the assessed value is $500,000. Apply the millage rate: The millage rate is 15 mills, which equal 1.5% for every $1,000 of assessed value. Calculate the ...

4. Closing documents: A guide for homebuyers - AOL

   www.aol.com/finance/closing-documents-guide...

   The title insurance documents pertain to the lender’s policy, which you’ll pay for with your closing costs but only protects the lender, not you. If you chose to purchase a separate owner’s ...

5. Loan servicing - Wikipedia

   en.wikipedia.org/wiki/Loan_servicing

   Loan servicing is the process by which a company (mortgage bank, servicing firm, etc.) collects interest, principal, and escrow payments from a borrower. In the United States, the vast majority of mortgages are backed by the government or government-sponsored entities (GSEs) through purchase by Fannie Mae, Freddie Mac, or Ginnie Mae (which purchases loans insured by the Federal Housing ...

6. What is a mortgage escrow? How it works, as explained ... - AOL

   www.aol.com/mortgage-escrow-works-explained-nj...

   "Basically, what an escrow account does it allows you to make your property tax and your insurance payments in smaller monthly chunks, rather in large chunks, say every three month for property ...

7. Escrow - Wikipedia

   en.wikipedia.org/wiki/Escrow

   In the US, escrow payment is a common term referring to the portion of a mortgage payment that is designated to pay for real property taxes and hazard insurance. It is an amount "over and above" the principal and interest portion of a mortgage payment.

8. Mortgage calculator - Wikipedia

   en.wikipedia.org/wiki/Mortgage_calculator

   The fixed monthly payment for a fixed rate mortgage is the amount paid by the borrower every month that ensures that the loan is paid off in full with interest at the end of its term. The monthly payment formula is based on the annuity formula. The monthly payment c depends upon: r - the monthly interest rate. Since the quoted yearly percentage ...

9. Guide to closing on a house: What to expect during the ... - AOL

   www.aol.com/finance/guide-closing-house-expect...

   You will pay closing costs and escrow items at the closing. These fees include property taxes, HOA fees if they apply and utility bills. You will likely need a certified check or cashier’s check ...