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Can you get a new mortgage after you pay off the lien on the house?
Wiki User
∙ 12y ago
Generally yes, if you qualify as to your ability to pay and your credit score and if there is equity in the property.
Wiki User
∙ 12y ago
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Can a mortgage company put a lien on my moms paid off home if she is a cosigner for my mortgage that is deliquent?
Yes, the mortgage company can do that. She co-signed for the loan and is responsible for it if you don't pay. She can lose her house.
Why would a mortgage release be on public record file?
A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.
Does the next of kin have to pay off a mortgage when the borrower has deceased?
Whoever inherits the house would need to either pay off the mortgage or refinance the house to take ownership of the house. The debt is not paid--unless the deceased had mortgage insurance--and the lien is still due. Of course, the house could be put up for sale, but only if payments are current and not in foreclosure.
What is a house mortgage?
A mortgage is a loan from a bank used to purchase real estate. Until the loan is paid off the bank has a lien on the property. The property cannot be sold or refinanced until that mortgage is paid.
When creditor puts lien on your home will mortgage company make you pay it or foreclose on your home?
As long as you keep making your mortgage payments the bank can't foreclose. However, you cannot refinance or sell the property until the lien is paid. If you sell, the net proceeds after paying off the mortgage would go to the lien holder to satisfy that lien.As long as you keep making your mortgage payments the bank can't foreclose. However, you cannot refinance or sell the property until the lien is paid. If you sell, the net proceeds after paying off the mortgage would go to the lien holder to satisfy that lien.As long as you keep making your mortgage payments the bank can't foreclose. However, you cannot refinance or sell the property until the lien is paid. If you sell, the net proceeds after paying off the mortgage would go to the lien holder to satisfy that lien.As long as you keep making your mortgage payments the bank can't foreclose. However, you cannot refinance or sell the property until the lien is paid. If you sell, the net proceeds after paying off the mortgage would go to the lien holder to satisfy that lien.
Can a lien hinder the transfer of land title?
If there is an existing lien on your property you can transfer the property to a new owner but the land is still subject to the lien. The new owner would have to pay the lien. Take care if the lien is a mortgage. In most cases the transfer of a property encumbered by a mortgage will trigger an immediate demand to pay off the mortgage. A property tax lien for delinquent taxes gives the town legal title to the property. You should also make sure your grantee is aware of the lien as it may have a detrimental affect on their use, enjoyment or continued possession of the property. Especially if a title examination will not be performed.
If a married couple is divorcing and they are on each others deeds to each others houses and one has a lien on his house how do get them off each others deeds?
You would have to deed your interest in your spouses house back to her. If the lien is in both names you would either have to refinance in the new owners name only or see if the bank will allow a qualified assumption of the existing mortgage.
If your mother puts your name on her house through a life estate do you need a new mortgage or will her original mortgage still be in effect?
If you're saying your mother issued a new deed with your name on it, while there was already a mortgage lien, then the old mortgage would continue to apply until it is paid off, regardless of who owns it. The mortgage company may be very upset that the deed was changed without its permission, and could accelerate the note (meaning total payment of principal is due immediately).
Should you pay off your house mortgage?
Yes, you should pay off you house mortgage because otherwise, you do not truly own your house.
What is the telephone number for the bank of America lien release department trying to get a satisfaction of mortgage that was paid off in 2009 but the mortgage is still showing open as of record?
bank of america lien release phone number
Can a bank put a lien on your house if you do not pay off a personal line of credit?
If the "line of credit' is in the form of a mortgage recorded in the land records then the lender can foreclose and take possession of the property. If it's not a mortgage then the creditor can seek a court judgment and if successful can then record a lien against your property. The property can't be mortgaged or sold until the lien is paid. If not paid and if the lien is for a substantial amount the creditor can sieze the property and sell it in most jurisdictions.
What is the legal effect of a lien placed on your unit for unpaid condominium assessments?
The effect is that you cannot mortgage or sell the unit without paying off the lien.
