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Why do most people take a mortgage loan when they purchase a house?
They take the loan to purchace the house.Not many people have $400,000 + in their bank..Thus they borrow it from the bank.
can i get a loan to fix my house and not take out second mortgage?
can i get aloan to fix my house without taken a second mortgage out
If you refinance the house after a year can you take the cosigner off the mortgage loan?
Yes.
Is a mortgage loan a secured loan?
It's not unusual for people to get so excited about buying their first home. This type of loan take up with bank or loan company to buy house or any other property. Before completing a mortgage application, make sure you are prepared for the mortgage application process. Your eligibility depends upon your repayment capacity & credentials as determined by Lending Institution.
Can you get a refinance loan with a credit score of 400 if your house is in foreclosure?
Your house is in forclosure, this means you do not pay your mortgage. Unlikely a bank would take such a risk!
Why do most people take a mortgage loan when they purchase a house?
They take the loan to purchace the house.Not many people have $400,000 + in their bank..Thus they borrow it from the bank.
can i get a loan to fix my house and not take out second mortgage?
can i get aloan to fix my house without taken a second mortgage out
If you refinance the house after a year can you take the cosigner off the mortgage loan?
Yes.
Is a mortgage loan a secured loan?
It's not unusual for people to get so excited about buying their first home. This type of loan take up with bank or loan company to buy house or any other property. Before completing a mortgage application, make sure you are prepared for the mortgage application process. Your eligibility depends upon your repayment capacity & credentials as determined by Lending Institution.
When someone dies what happens to the mortgage loan?
It is normal for people with a mortgage loan to have a life insurance to cover the amount of the loan. If this is the case the insurance will pay off the loan and the property will become part of the dead persons estate in its entirety and (after inheritance tax) the heirs will inherit it. If there is no insurance then the outstanding balance of the mortgage becomes a charge on the estate of the deceased and if there is not enough money available to pay this, then the house will have to be sold to realise this money. If after the sale of the house the estate is still short of funds to cover the mortgage (after funeral expenses are met) then the mortgage company will have to take that loss.
Can you get a refinance loan with a credit score of 400 if your house is in foreclosure?
Your house is in forclosure, this means you do not pay your mortgage. Unlikely a bank would take such a risk!
If you have a second mortgage and filed chapter 7 what is your obligation to the second mortgage?
If you don't pay the 2nd mortgage the lender will take the house. It is a secured loan so, meaning that they get something in return for lending you the money. If you don't pay back the money, they get the house.
Do people actually pay cash for houses?
"It is extremely uncommon and unlikely that people would pay cash for a house. The vast majority of people take out a mortgage when purchasing a house, which is a loan of money which gets paid back slowly to a bank or other institution."
Are you responsible for loan debt if you are on the deed to house but not on the loan?
No. Not unless you signed the note. However, the lender may have the power to take possession of the property by foreclosure if the mortgage loan isn't paid.No. Not unless you signed the note. However, the lender may have the power to take possession of the property by foreclosure if the mortgage loan isn't paid.No. Not unless you signed the note. However, the lender may have the power to take possession of the property by foreclosure if the mortgage loan isn't paid.No. Not unless you signed the note. However, the lender may have the power to take possession of the property by foreclosure if the mortgage loan isn't paid.
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.
Is paying off a house or loan cheaper?
Paying off a house is cheaper. You already have interest on your mortgage, why take a loan and increase your interest? Aim to pay off your house unless you are looking to buy a new one. Get a job tubby.
What is meant by a mortgage?
A mortgage is a loan with your real estate as security for the loan. If you fail to make regular repayments of the loan the lender can take possession of the real estate and sell it to repay the loan.
