Any item of value that can be quickly turned into cash
Your liquid assets are the easiest to cash, which is especially helpful when you are gathering money for a down payment on a home. The best examples of liquid assets are certificate of deposits (CDs) and money market accounts. Real estate, boats, antique furniture, and collectible plates are not liquid assets since they take time to sell.
Mortgage definitions and Real Estate Terms, Consolidating loans, refinancing mortgages and reverse mortgage process available to anyone. This consumer information site contains several tools and guides to aid in purchasing or refinancing a home or commercial property.
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Showing posts with label Cash reserves. Show all posts
Showing posts with label Cash reserves. Show all posts
Monday, June 12, 2006
Friday, April 14, 2006
Cash reserves
Money put aside in case of a financial emergency
Most lenders want to know that you have enough savings, either in a checking or savings account, a security or even a 401K retirement fund, to provide a cushion for unexpected expenses in the future. Lenders are typically looking for an amount that is twice your monthly mortgage payment.
See: Mortgage
Most lenders want to know that you have enough savings, either in a checking or savings account, a security or even a 401K retirement fund, to provide a cushion for unexpected expenses in the future. Lenders are typically looking for an amount that is twice your monthly mortgage payment.
See: Mortgage
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