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| Subject: what does it mean to show mortgage? |
Sharon and nisha can u explain me?
[07-06-2010,23:56]
[***.229.237.36]
khan |
(in reply to: what does it mean to show mortgage?)
your house is worth $100. you have $80 that you owe the bank for your house. that debt is called a mortgage. When you take the value of your house and subtract the mortgage - that is your equity. It is what is left after you pay your debt that CIC wants to see for settlement funds
[08-06-2010,01:30]
[**.154.245.217]
Sharon |
(in reply to: what does it mean to show mortgage?)
If you have any LOAN pending with bank on your house, you have to show it.
Best luck,
Nisha
[08-06-2010,09:15]
[***.94.228.6]
Nisha |
(in reply to: what does it mean to show mortgage?)
Sharon and nisha! what if i buy home in cash. bz i didnt take loan from any body, i paid cash.
[08-06-2010,19:03]
[***.229.235.37]
khan |
(in reply to: what does it mean to show mortgage?)
then you don´t have and debt against the house and the full value can be declared for settlement funds
[09-06-2010,02:00]
[**.154.245.217]
Sharon |
(in reply to: what does it mean to show mortgage?)
so u mean i show the transfer letter of my home or make a paper from the society office?
how to make exactly the evaluation paper, i mean procedures?
How i can satisfy canadian immigration office that this home belongs to me and have worth of xxx$?
[09-06-2010,02:41]
[***.229.235.40]
khan |
(in reply to: what does it mean to show mortgage?)
Khan,
You have to take the transfer papers fromt he society office on their letter head stating your home address. and then hire someone to evaluate your property value and he/she will be able to give you a written report of your funds.
Nisha
[09-06-2010,09:48]
[***.94.228.6]
Nisha |
(in reply to: what does it mean to show mortgage?)
show the sales document or the tax notice. you don´t need an appraisal. No doubt the house value is in excess of the minimum settlement funds.
All CIC will care is how hard it would be to sell your house and bring the cash with you.
[09-06-2010,13:50]
[**.154.245.217]
Sharon |
