answersLogoWhite

0


Best Answer

Technically, yes. Mortgage loans are secured by a note and deed of trust that state the length of the loan. A lender and borrower may agree to alter this term and sign a loan modification. This most commonly occurs when the borrower has difficulty paying the loan and the term is extended to make the payments more affordable. There are regulatory restrictions to how long certain mortgages can be stretched out; for example, you can't get a 50 year second mortgage.

User Avatar

Wiki User

13y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Can you change the length of a mortgage in America?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What are some examples of mortgage lenders of America?

Wells Fargo Mortgage, Bank of America, Chase, Ally Bank/Rescap (GMAC), Amerisave Mortgage and CitiMortgage are some examples of mortgage lenders of America.


Can a lender change the terms of a mortgage deed?

change mortgage from tic to jtwrs


What is the average cost of the existing home mortgages in America today?

The average cost of an existing home mortgage depends on several items. Interest Rate Closing Cost Length of mortgage or term of mortgage The amount of the mortgage. If you can provide more details to the question I will provide you with a complete answer. I have one question for you. Are you asking the question of; what is the average closing cost of an existing mortgage in America Today. If that is your question, the answer is 3-5% of the loan amount. Frank Thomas Sr. Loan Consultant www.lowermymortgageratestore.com


Where can you find a rbs mortgage calculator to use online?

RBS (The Royal Bank of Scotland) offers a mortgage calculator through their official website. You will nee to the the amount and length of the mortgage you are interested in. They also offer a repayment calculator and a rate change calculator.


What is the average length of a mortgage?

About 30 years


How can one use the BBC mortgage calculator?

To use a mortgage calculator, you type in the length of your mortgage, the amount of principal that you owe, and your mortgage rate. It will then tell you what your payments will be.


Where are the mortgage banks located in America?

Many banks offer mortgages and can be considered a mortgage bank. These mortgage banks such as Bank of America, can be found in any Metropolitan area and in most neighborhoods of any city in America.


Where can one find the current mortgage rates from Bank of America?

One can find the current mortgage rates from Bank of America on the official Bank of America website. Currently their rate on a 30 year fixed mortgage is 3.625%.


Where would one locate an online mortgage calculator from Bank of America?

An online mortgage calculator can be found on the bank America site. It will be in the mortgage area of the site that provides information to the consumer and tools to calculate a mortgage loan.


What type of mortgage has payments that can change?

varialbe-rate mortgage


What affects the size of your monthly mortgage payment?

Your monthly mortgage payment is affected by the amount of the loan, the interest amount, and the length of time of the mortgage.


What is the Average length of a us mortgage?

25 years.