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Yes, No, Maybe...YES if you can afford to own 2 homes...NO if you can't afford them both. MAYBE if you can pay cash or qualify for a mortgage. Do you have a mortgage on the 1st home? What's your debt to income ratio with owning the home you have now? and What's your debt to income ratio if you owned the second home? If you need a mortgage...call your bank or mortgage broker, if they can help, they will. You can own as many homes/houses as you want...it's a matter of can you afford them? What is your purpose for a 2nd, 3rd home...rental, vacation home, etc...?
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∙ 16y ago
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What does mortgage home improvement mean?
It means that you take out a second mortgage to help make home improvements on your house. This often raises the value of your house if you are selling it.
If you are selling your house do you have to pay off your second mortgage or can you keep making payments?
When you sell your home all liens against the property have to be paid so you will have to pay off the second mortgage at the closing.
Do I have to pay capital gains tax when selling a house?
If the house is your main residence, NO. If however it is a second home or another property you own (say to let out), YES.
Can you roll a first and second mortgage into one and take out money for home improvements when you do?
Yes if you have enough value in your home.
What are the dangers of a second mortgage foreclosure?
The biggest problem with second mortgage foreclosures is that you can lose your home even if you are still current on your first mortgage. The second mortgage, if defaulted on supersedes you first mortgage.
Can you turn in the keys on one home without risking your other home?
I am guessing here, but I would think that the second home would be considered an asset so they would go after it to help pay for the first one.
What does mortgage home improvement mean?
It means that you take out a second mortgage to help make home improvements on your house. This often raises the value of your house if you are selling it.
Your home recently foreclosed you had a first and second loan The first loan handled the foreclosure487k now you are left with the second loan 117K What happens now?
When your home is foreclosed on, the first or second can start the process. If you have a first mortgage and a second mortgage, your first mortgage is the first lien holder. Therefore if the second was first to foreclose they would have to pay the balance or negotiate the balance (agree to lower payoff). When a home is foreclosed on, all debts against the home are extinguished.Normally in a foreclosure the first mortgage will not negotiate with the second mortgage, in this instance the second mortgage would be out of the picture. VALUE (appraisal) plays a huge role in this process.
What are the some ways to purchases your own houses in the US?
There are 2 ways to purchase a home. The first is with your own funds. You may buy a home without the aid of professionals, but this is generally not reccommended. The first step is to contract a Realtor who will help you find the home and facilitate the transaction in exchange for a comission that is paid by the seller (usually) and split with the selling Realtor (6% total normally). The second way is with borrowed funds (or a mix of your own and borrowed). For this you must obtain a mortgage lender and be approved for the appropriate loan. Then you would use a Realtor to find and purchase the home.
How do you sell your home?
There are a few options in selling your home. The first would be independently selling, as in you personally would place your home on the market by first getting it appraised and then listing your prices in local papers or online. You can also go through a real estate agent or another properly trained home selling professional. These agents should be well informed in the housing market and know how to sell a home- but they charge a commission that can give them incentive to sell early. Good luck in your sale!
Can you drive your first car home without insurance?
No.
Is selling a home in 2013 harder than selling a home ten years ago?
Yes selling a home in 2013 is a lot harder then selling a home ten years ago. Many people are in debt or loosing their jobs and can not afford to buy a house.
Where is the second cave in lost in blue?
There is not a second one there is only the first one. But in lost in blue 2 there is a second home.
If you are selling your house do you have to pay off your second mortgage or can you keep making payments?
When you sell your home all liens against the property have to be paid so you will have to pay off the second mortgage at the closing.
Should you refinance first home before buying a second home to be a primary residence and then renting out the first?
housing and urbon developing
In a 2 story home do which levels is warmer first floor or second floor?
Usually the second floor.
Who is the first second third home minister of India?
Chuck Norris.
