There are a number of examples of this type of investment activity, ranging from municipal projects to real estate.
One example of a self-liquidating asset would be the construction of a building or toll bridge for use in a city or town.
Consult with your tax advisor with regard to interest tax deductibility.
The standard rate index shall be the Maspeth Federal Savings commercial interest rate for similar type property or the Prime Rate plus 1%, whichever is higher. Closing costs MUST be paid at closing with newly issued Commercial Line of Credit check.
Mortgages can be distinguished in three categories in terms of amortization: 1.
Interest-only mortgages with no payments of principal (no mortgage loan amortization) 2.
Mortgages are loans the are secured by property that is used as collateral or security for the loan.
Mortgage maturity refers to the date at which all agreed payments, as specified in your original mortgage paperwork, have been paid. Depending on the length of your loan term, and the type of amortization on your mortgage, you may or may not have completely paid off the mortgage at the date of maturity.These are known as “balloon” mortgages, named for the substantial balloon payment due at maturity.Many borrowers expect to refinance when their loan matures and the balloon payment comes due, but circumstances do not always allow it.While this equitable right exists, it is a cloud on title and the lender cannot be sure that they can repossess the property.Therefore, through the process of foreclosure, the lender seeks to foreclose (in plain English, immediately terminate) the equitable right of redemption and take both legal and equitable title to the property in fee simple.