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2. What happens when you pay off your mortgage? - AOL

   www.aol.com/finance/happens-pay-off-mortgage...

   When you pay off your mortgage, your lender will provide you with paperwork to show you have paid off your home loan in full. You must collect all the necessary paperwork, and in some cases ...

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

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

   3. Run a title search. Run a title search on the property you are purchasing early in the closing process. A title search will bring up any issues with or claims against the home, such as a ...

4. Dave Ramsey’s 7 Tips for Quickly Paying Off a Mortgage - AOL

   www.aol.com/dave-ramsey-7-tips-paying-120027516.html

   Divide your payment by 12 and add that amount to each monthly payment, or pay half of your payment every two weeks. This bi-weekly payment schedule adds up to one extra payment each year, saving ...

5. Mortgage assumption - Wikipedia

   en.wikipedia.org/wiki/Mortgage_assumption

   Mortgage assumption is the conveyance of the terms and balance of an existing mortgage to the purchaser of a financed property, commonly requiring that the assuming party is qualified under lender or guarantor guidelines. [1] All mortgages are potentially assumable, though lenders may attempt to prevent the assumption of a mortgage loan with a ...

6. Mortgage underwriting in the United States - Wikipedia

   en.wikipedia.org/wiki/Mortgage_underwriting_in...

   This is calculated by adding the monthly liabilities and obligations (mortgage payments, monthly credit and loan payments, child support, alimony, etc.) and dividing it by the monthly income. For an example, if a borrower has a $500 car payment, $100 in credit and loan payments, pays $500 in child support and wants a mortgage with payments ...

7. Loan origination - Wikipedia

   en.wikipedia.org/wiki/Loan_origination

   When the borrower refinances his/her loan, they can pay off the remainder of the debt. Example: If the borrower owes $1,500 in credit card payments and has a gross monthly income of $3,000, his DTI ratio would be 50%. But if the borrower owes $1,500 in payments and has a gross monthly income of $2,000, his DTI ratio would be 75%.