0
Can someone who is on the home deed but not on the mortgage get a home equity line of credit?
Wiki User
∙ 12y ago
The persons who are on title must both sign for a equity line of credit.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
In new york state if your name is on the deed and not the mortgage can you apply for a home equity line of credit?
Yes, you own the house
Can you take out a home equity loan on a house if you are not on the first mortgage but are on the deed with your parents?
Yes but your parents being on the deed will have to also sign.
If your name is on the warranty deed but not on the mortgage loan are you on any credit reports?
No ditto answer---NO
Can you get a home equity loan if you don't have a mortgage?
I am assuming you mean that you own the house outright. The answer (provided you own the home without a mortgage) is yes. Home equity loans are designed for people who wish to borrow against the equity in the home. Remember, you have to own the home in order to use equity. This means your name has to be on the deed. (See related link below for more information.)
What are the negatives and positives of having someone cosign on a home loan if you have less than perfect credit?
the pros are obvious. you get to buy the house whereas you couldn't with poor credit on your own. if they are a percentage owner on the deed they would get those proportional proceeds when the house would sell. ideally you would have them on the mortgage, but not on the deed.
In new york state if your name is on the deed and not the mortgage can you apply for a home equity line of credit?
Yes, you own the house
If you pay cash for an investment property how soon can you take out an equity line?
You can apply for an equity credit line mortgage as soon as you take title- when the deed has been recorded in the land records.
How do you get your mortgage payments counted on your credit score if you are on the deed but not on the mortgage?
Refinance the mortgage with you listed as a borrower. You will not be reported to the credit bureaus by being listed on the deed since you have no obligation to pay the debt.
Can you take out a home equity loan on a house if you are not on the first mortgage but are on the deed with your parents?
Yes but your parents being on the deed will have to also sign.
If your name is on the warranty deed but not on the mortgage loan are you on any credit reports?
No ditto answer---NO
Your name is on the deed to a house but not on the loan are you entitled to half of equity?
Yes. If you are a joint fee owner and you didn't sign the mortgage then your half interest is free of the mortgage.
Will your spouse's credit score be affected if your individually owned property is foreclosed spouse's name is not on the deed?
Your spouse's credit score should not be affected if he/she is not on the deed or on the mortgage that was foreclosed.
If you are on a promissary note but not on the deed do you sign the mortgage?
If you are not on the deed then you don't own the property. If you don't own the property then you should not promise to pay the mortgage. A co-signer on a mortgage and promissory note is completely responsible for paying the mortgage. If the primary mortgagor (who in this case is the owner of the property) defaults on the mortgage the lender will go after the co-signer of the note for payment. A default will ruin your credit. If someone has asked you to sign their note and mortgage then you should require they execute a new deed with you as the co-owner of the property.
Can a house be foreclosed on if one name is on the mortgage and someone else s name is on the deed to the land or parcel?
That depends on whose name was on the deed when the mortgage was executed.
In Florida can you have a home equity line of credit and still file a deed in lieu of foreclosure?
You will not be able to keep your home equity line of credit if your house is in foreclosure or anything similar to it. This is standard across the United States.
How can you transfer your mortgage to your mother who has less than perfect credit if both of your names are already on the deed?
You can't transfer the mortgage, but you can remortgage in her name only.
What would happen if you lives with your mother who dies with an unpaid mortgage and your name not on the loan or deed?
Children will normally inherit their parents' property, which will include the equity in a house, even if the mortgage is not fully paid.
