Again got approved for 20k personal loan and 10k balance transfer

[Guest]

14 minutes ago, problem said:

can someone explain this......mortgage teesukuni house koni, house edhina cash party ki ammesukovachu ani okallu.......house dhi that possible........asalu mortgage lo unna house ni ela ammachu......

Haha..all real estate transactions go through title company, through escrow account. Cash ante they write a check to title company not to you. Vaallu nee mortgage check chesi balance interested direct lender ki migilina proceeds nee account ki pothay

[problem]

5 minutes ago, Guest said:

Haha..all real estate transactions go through title company, through escrow account. Cash ante they write a check to title company not to you. Vaallu nee mortgage check chesi balance interested direct lender ki migilina proceeds nee account ki pothay

Ardham kaledhu dude, explain chestava koncham, mortgage check chesi, balance interest and migilina proceeds enti......can you explain that clearly 

[ekunadam_enkanna]

1 hour ago, problem said:

can someone explain this......mortgage teesukuni house koni, house edhina cash party ki ammesukovachu ani okallu.......house dhi that possible........asalu mortgage lo unna house ni ela ammachu......

Ledu. Ammochhu evadaina bakara gaadu dorikete.  Bakaras unte, america ni kooda ameyyacchu.

Title companies will pay off the existing mortgage with the money buyer paid. The remaining will be given to the seller.

https://smallbusiness.chron.com/title-company-closing-occurs-56499.html

Quote

The title company's first task is to investigate the property's history of ownership, or chain of title, and identify encumbrances on the title. An encumbrance is any claim on a property that affects the owner's right to possess, occupy or enjoy the property, such as a mortgage, a tax lien or an easement

 

[problem]

7 hours ago, ekunadam_enkanna said:

Ledu. Ammochhu evadaina bakara gaadu dorikete.  Bakaras unte, america ni kooda ameyyacchu.

Title companies will pay off the existing mortgage with the money buyer paid. The remaining will be given to the seller.

https://smallbusiness.chron.com/title-company-closing-occurs-56499.html

 

I got that point ......oka house ni 300k ki ammeste, 250k mortgage unte, renting 50k seller ki vastadi...naa ques enti ante 250k mortgage unna house ki, 300k ki ammeste, seller ki motham 300k ela vastadi......how is that possible

[Guest]

20 hours ago, problem said:

Ardham kaledhu dude, explain chestava koncham, mortgage check chesi, balance interest and migilina proceeds enti......can you explain that clearly 

simple gaa ante

suppose you bought for 500K and 100K down, mortgage is 400K. You sold it for 600K, in this case title company pays your lender 400K from 600k and the remaining( proceeds) to your account

 

[ekunadam_enkanna]

12 hours ago, problem said:

I got that point ......oka house ni 300k ki ammeste, 250k mortgage unte, renting 50k seller ki vastadi...naa ques enti ante 250k mortgage unna house ki, 300k ki ammeste, seller ki motham 300k ela vastadi......how is that possible

It is not possible with reasonable buyers or sellers, since reasonable sellers and buyers use escrow agents and title companies.  The moment a buyer wants some form of mortgage,  title company will pay off the mortgage on the property that the buyer is buying. However, you can find some 'stupid' buyers, who don't want to deal with title companies; this is the case when one is paying "hard cash" in suit cases.  Even chinese who offer full cash, they wire their money (from hong kong) to an escrow agent in America.