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Got a home loan and gifted a percentage to sister. I now want to refinance or put on the marketShe refuses to sign anythingI can't sell or refinance. If I foreclose Will this affect her credit?
Wiki User
∙ 15y ago
Who is on the title to the property? and who is the loan name under?
Wiki User
∙ 15y ago
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Why is it bad to do a 100 percent refinance?
If you refinance and you don't have enough equity in your home, then you are paying refinance fees and adding to your debt, plus your house isn't worth what you are paying so there is more liability to the bank. Banks don't like to take risks on the owner defaulting since they rarely get what the house is worth if they have to foreclose.
When creditor puts lien on your home will mortgage company make you pay it or foreclose on your home?
As long as you keep making your mortgage payments the bank can't foreclose. However, you cannot refinance or sell the property until the lien is paid. If you sell, the net proceeds after paying off the mortgage would go to the lien holder to satisfy that lien.As long as you keep making your mortgage payments the bank can't foreclose. However, you cannot refinance or sell the property until the lien is paid. If you sell, the net proceeds after paying off the mortgage would go to the lien holder to satisfy that lien.As long as you keep making your mortgage payments the bank can't foreclose. However, you cannot refinance or sell the property until the lien is paid. If you sell, the net proceeds after paying off the mortgage would go to the lien holder to satisfy that lien.As long as you keep making your mortgage payments the bank can't foreclose. However, you cannot refinance or sell the property until the lien is paid. If you sell, the net proceeds after paying off the mortgage would go to the lien holder to satisfy that lien.
What percentage of people refinance?
Only about 6% of people refinance. However, over the past few years, refinancing has become increasingly popular in the United States.
Is a home equity loan considered a refinance?
No. It is home equity line of credit that is secured by your home. You use it to buy things and if you buy too much and can't make the payments the bank can foreclose and take your home.
If you don't pay can they take your home?
The IRS could get a lien on your home for failing to pay any income taxes that may be due. If there is a federal tax lien on your home, you must satisfy the lien before you can sell or refinance your home.
Can you force a foreclosure to get your name off of a mortgage?
Generally, to remove one person from a mortgage that person must transfer their interest in the mortgaged property to the other and then the remaining sole owner must refinance the property in their sole name. The existing mortgage must be paid off.In your case you ask if you can force a foreclosure to get your name off. Only the lender can foreclose and only in the case of a default, i.e., not paying the mortgage payments. If the lender does foreclose, both your credit records will be equally damaged.Generally, to remove one person from a mortgage that person must transfer their interest in the mortgaged property to the other and then the remaining sole owner must refinance the property in their sole name. The existing mortgage must be paid off.In your case you ask if you can force a foreclosure to get your name off. Only the lender can foreclose and only in the case of a default, i.e., not paying the mortgage payments. If the lender does foreclose, both your credit records will be equally damaged.Generally, to remove one person from a mortgage that person must transfer their interest in the mortgaged property to the other and then the remaining sole owner must refinance the property in their sole name. The existing mortgage must be paid off.In your case you ask if you can force a foreclosure to get your name off. Only the lender can foreclose and only in the case of a default, i.e., not paying the mortgage payments. If the lender does foreclose, both your credit records will be equally damaged.Generally, to remove one person from a mortgage that person must transfer their interest in the mortgaged property to the other and then the remaining sole owner must refinance the property in their sole name. The existing mortgage must be paid off.In your case you ask if you can force a foreclosure to get your name off. Only the lender can foreclose and only in the case of a default, i.e., not paying the mortgage payments. If the lender does foreclose, both your credit records will be equally damaged.
Home loan online refinance rates are offered as low as what percentage on the Lending Tree homepage?
Home loan online refinance rates are offered as low as 3.13% APR according to the Lending Tree homepage. The percentage APR a person qualifies for will depend on the type of loan received and the type of property.
Is it worth doing a mortgage refinance to save 1% per year on the interest?
It's not about percentage; it's about real dollars saved annually. In order to determine if a refinance is the best option, speak to your mortgage lender. You'll want to calculate what your new monthly payment would be and then determine if the refinance would be worthwhile, considering closing costs, etc. You can also use this calculator: http://www.mortgage101.com/refinance-calculator
Can you refinance your car?
Yes you can refinance a car.
Is the california refinance rate higher than illinois' refinance rate?
The California refinance rate is higher than the Illinois' refinance rate. California's refinance rate is 4.375. These facts are according an online source.
How soon could you refinance after you purchase a car?
As long as your current loan shows on your credit and can be accessed by the refinance company, you can refinance anytime. There is no set time to refinance.
Why would you waive your right of homestead?
You would waive your right of homestead if you want to refinance your home. A bank will not loan money on property that is subject to a right of homestead. It could not foreclose if there was a default and a homestead was in effect. The boilerplate language in mortgages contains a clause that the signer is waiving rights of homestead in the property.
