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Should a home be insured for enough to pay off the mortgage plus replacement cost?
Wiki User
∙ 15y ago
Unfortunately, no insurance broker will insure a home for both mortgage and replacement cost. If the price you give them is excessive they can independently valuate the property or in the event of a fire ete..they will only give you market value
Wiki User
∙ 15y ago
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Who is responsible for a mortgage if the owner dies before its paid off and the house is left to her son in a will?
The mortgage should be paid by the remaining estate. If there is not enough cash left to pay off the mortgage, the house can be sold and the mortgage paid at closing, or if the mortgage is assumable, the son may take on the mortgage as his own debt and keep the house.
Can a home equity line of credit be used to pay down the principle and remove private mortgage insurance on a first mortgage?
Yes, assuming you have enough equity in the home to get a line of credit. But, if you had enough equity there should not be any PMI. 4lifeguild
Can you pay off first mortgage using home equity line of credit?
Yes. If you qualify for an amount high enough to cover the first mortgage. You should make certain it will be to your benefit.
How to write Budget letter explaining how you will pay your mortgage?
To write a budget letter explaining how you will pay your mortgage, you should be thorough. Include information on all of your income. Next include all of your expenses. Show that you have enough money to pay the mortgage plus your expenses.
How do you use mortgage in a sentence?
He was fortunate enough not to need a mortgage and paid for the house outright from his savings.
What are your job responsibilities as a health insurance agent?
Your job responsibility as health insurance agent should be two-fold. Your prime duty should be to look after the interest of the insured person and assist him from choosing the right policy to assist him in filing of claims. At the same time, you should be careful enough not to compromise with the interest of your insurer. You should be cautious enough so that no materials facts or information are concealed by the insured that might cause harm to the insurer in the long run.
What is required to get a California home mortgage?
The requirements to get a California home mortgage are similar to a home mortgage in any other state, which include stable income, a large enough down payment, and enough savings in liquid assets.
If you foreclose on your home and proceeds are not enough to pay the first and second mortgage what happens to the second mortgage lien?
You still owe the money to the mortgage provider.
Why should you sue a mortgage company?
There are many reasons why you would sue your mortgage company. Each reason would be because the mortgage company wronged you in some way (for example, not putting enough of your monthly payment toward principal). If you feel you have been wronged by your mortgage company, please contact your state attorney generals office.
IS it better to prepay your mortgage or save the same amount?
If you have enough money to pay off your mortgage and no other debts, you should pay it off. If you have other debts, you should pay off those with higher interest rates before those with lower. If you have credit cards, you should pay them off and cancel them.
When they say its affordable are they paying you?
No, it means that they reckon you should have the money to pay for whatever it is they are trying to sell. For instance if you take out a mortgage to purchase a house, then it is important that your monthly repayments for the mortgage are affordable. In other words that you are earning enough money to pay off the loan and have enough left to live on afterwards.
Can you obtain a home equity loan on a family home that does not have a mortgage?
Yes, as long as you have a good enough credit rating to qualify for the mortgage.Yes, as long as you have a good enough credit rating to qualify for the mortgage.Yes, as long as you have a good enough credit rating to qualify for the mortgage.Yes, as long as you have a good enough credit rating to qualify for the mortgage.
