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Can you leave your home to your niece in your will and add her to the house title even if you still have a mortgage?
Wiki User
∙ 13y ago
You can leave your home to your niece in your will but you should do it right now and don't put it off. However, you should check with your bank before you make any changes in the title to the property. There may be a clause in your mortgage that prevents deed changes.
Wiki User
∙ 13y ago
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Do you still owe the house when you enter to reverse mortgage?
You still own the house if you have a reverse mortgage, yes.
Can you put a house with a mortgage in a trust?
Yes. There are almost no obstacles if you still own and live in the house after.
Do you still have to pay back your mortgage if your house for sale?
Of course. Until you pay off the mortgage loan, you have to pay payments on the home.
What are some of the pitfalls of reverse mortgage?
The biggest pitfall of the reverse mortgage is that it is one of the more expensive credit options available. Because these loans are aimed at the elderly, other pitfalls maybe that an elder may need to move to assisted living and will still have a mortgage to pay, if the loan owner is unable to stay in the home all other family members must leave the house as per the mortgage rules, and if a reverse mortgage owner(s) dies the loan is still due.
Lisa and house was appraised at 115000. She still owes 42000 on her mortgage loan. How much equity does Lisa have in her house?
$73,000
Do you still owe the house when you enter to reverse mortgage?
You still own the house if you have a reverse mortgage, yes.
Who has to leave the house when a legal separation is taking place and who is responsible for paying the mortgage?
You can be separated and still live in the same house. No one has to move.The mortgage payment is made by the person whos name is on the mortgage. If it is in both names you are both responsible.
House was repossess can you still get a mortgage?
it is quite unlikely that you will be able to get a mortgage lender with that history.
Can you put a house with a mortgage in a trust?
Yes. There are almost no obstacles if you still own and live in the house after.
Are you able to still leave a mortgage in Minnesota after BK and not be liable?
Yes, you can walk away from a mortgage and not be liable for a deficiency (even in recourse states) if the mortgage was listed in the bankruptcy.
Do you still have to pay back your mortgage if your house for sale?
Of course. Until you pay off the mortgage loan, you have to pay payments on the home.
What are some of the pitfalls of reverse mortgage?
The biggest pitfall of the reverse mortgage is that it is one of the more expensive credit options available. Because these loans are aimed at the elderly, other pitfalls maybe that an elder may need to move to assisted living and will still have a mortgage to pay, if the loan owner is unable to stay in the home all other family members must leave the house as per the mortgage rules, and if a reverse mortgage owner(s) dies the loan is still due.
What happens if your landlord's house is foreclosed?
As long as your landlord has control of the property he still has the right to collect rent: whether the house is foreclosed is between your Landlord and his mortgage lender. If the property is taken over by the mortgage lender they may ask you to leave. There may be some form of protection available for you, the Tenant, before you are forced to leave. Get legal assistance as soon as you learn about the foreclosure so that you can be prepared for what's next. You may or may not be required to leave soon.
Lisa and house was appraised at 115000. She still owes 42000 on her mortgage loan. How much equity does Lisa have in her house?
$73,000
Lisa's house was appraised at $115000. She still owes $42000 on her mortgage loan. How much equity does Lisa have in her house?
73000
Lisa's house was appraised at 115000. She still owes 42000 on her mortgage loan. How much equity does Lisa have in her house?
73000
Husband-and-wife buy a house together the wife's name is not put on the deed until the second mortgage but the second mortgage is now paid off do we still share the deed of trust?
If a husband and wife buy a house together and the wife's name is not put on the deed until the second mortgage, yes, the deed is still shared after the second mortgage is paid off.
