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If a home equity can't be paid off at the time of selling a house can you put it on a credit card or roll in to the next mortgage?
Wiki User
∙ 15y ago
You will not be able to include it in your new home purchase. You can pay it off with a credit card or any other means of credit available to you. Be careful though. If you add too much "other" debt, you may not qualify for your new home.
Wiki User
∙ 15y ago
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Is your credit history affected by a lien that is put on a house?
If there is a mortgage/equity loan involved,that loan will report on your credit history. The lien will report on the title of the house. A title search will be conducted if you are selling or refinancing the house.
Can they take your house if you do not pay your credit card?
Only if the credit card an "equity line of credit" which is secured by a second mortgage on the property. But then, if her name is not on the house, she couldn't have used it for security on the credit card, so NO.
What if the estates debt is a mortgage?
The executor of the estate has the option of continuing to pay the mortgage and thereby continuing to own the property (which is presumably a house) or selling it. When you sell a house that has a mortgage, some of the purchase price will go to you, based on your equity in the house, and some will go to pay off the mortgage. If there is little equity in the house, or if the housing market is very depressed, you may realize little or no profit on the sale of the house, but you won't have to continue paying the mortgage.
Can you sell your house with judgments on your credit report?
Sure; the problem in such a case would be getting a mortgage to buy a house, not selling a house.
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 get a new mortgage after you pay off the lien on the house?
Generally yes, if you qualify as to your ability to pay and your credit score and if there is equity in the property.
If the lien is on your house why do you need a credit check if you are taking a home equity loan?
There are several key factors to acquiring a mortgage, equity and credit are two of the more significant. In general the better credit you have the more equity you can access. If you need any help with this feel free to call my office (214)607-1445.
Can a second secured mortgage loan be discharged?
Yes, if there is no equity in the house to secure that second mortgage, or the equity is less than the exemption.
Do you have to own the house to get equity loan?
Yes, you must be the owner of the property. If you only rent the premises you cannot get an equity line of credit. There can be a mortgage, but you must have some equity. In other words, it must be worth more than you owe on it.
Does home insurance pay for home equity line of credit when you have a house fire?
No, it won't pay your mortgage note or your equity line note, but your homeowners insurance will pay to repair the fire damage to your home.
What is equity line of credit?
An equity line of credit is issued based on the amount of equity you have in your home. If you have a $100,000 house and owe $75,000 then you would have $25,000 in equity.
Can I refinance my mortgage if I have low equity in my house?
Yes it is possible to refinance your house if you have low equity. But you must have at least 20 percent equity before your refinance will be apporoved.
