recapture

Hi tknorr,

As far as I know, recapture allows you to buy back your shares at some future point in time, if you wish. But as you have already paid off the principle, I did not understand why you need to pay the recapture. Has the lender asked you to do so? If you could explain your situation, it will be easier for me to answer your query.

Thanks.

I received a letter letting me know that since i signed a recapture at the time of borrowing my loan, I have the choice of deferring my payment, paying it in one lump sum, or speading it out in payments. I have had my appraisal and am waiting for the response on the amount I need to deal with. I was just wondering how they come up with the amount. Do they take the value of the house versus the recapture and I pay the difference? I guess I need the whole recapture option spelled out.

Hi tknorr,

I would suggest you to speak to your lender and check out the whole issue with him. Your lender will be the best person to let you know the amount you need to pay.

Thanks