2006-10-03 13:28:03 · 3 answers · asked by sobraled 1 in Business & Finance ➔ Personal Finance
It is the amount of the Loan to Value ratio that will be increased to determine the new Loan to Value (LTV) Ratio's limit. If you have more questions email me.
2006-10-03 13:33:56 · answer #1 · answered by NOIZE 4 · 0⤊ 0⤋
In short, if you have a mortgage loan in the amount of $100,000 and the max amount that loan can go negative is 115% of the $100,000; that's grossing up. Some lenders have different maximums on negative loans. Some are 110% or the 115%. If a person is going to put a second mortgage on your home then the they shourld calculate your current loan balance at 115% and then apply the maximum second mortgage they can do on your property. You can find the maximum gross up in your promissory note. This is how it's done in California.
Hope this helps!!!
2006-10-03 22:40:53 · answer #2 · answered by CA Girl 2 · 0⤊ 0⤋
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2006-10-04 08:06:00 · answer #3 · answered by stock_trade_expert 3 · 0⤊ 0⤋