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Yes you can. I am currently purchasing a short sale house from people that had a 20/ 80 loan with two banks. It has been very long and tough but it can definetly be done!
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∙ 14y ago
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Can you have two residential mortgages on two separate houses?
Yes
Can you have two mortgages for one property?
Yes. It is possible to have a mortgage and get a second mortgage on the same property. In some cases there are more than two mortgages on a single property.
What is better a short sale or a foreclosure?
A short sale is always better. I will tell you why very definitively. When you purchase a home on a short sale you are helping a homeowner salvage their credit and dignity and helping them out of a bad situation. You are also preventing a large loss for the bank and getting a great deal for yourself. Everyone wins if it is done correctly. A foreclosure will have a very bad effect on a homeowner's credit and the bank will in most cases take a bigger loss than they would in a short sale. A sellers credit in a short sale will be damaged to a lesser extent than a foreclosure. In most circumstances if you have done a short sale you will not be able to get another loan for two to three years. In a foreclosure it is usually around five years before you can purchase another home.
Can one person have two mortgages?
Yes. Many people do, especially if they have let property.
If you have two houses can you sell them both and buy another house and not pay capital gains tax?
No. And if neither house is your main home (primary residence) you will have to report the sale of both houses on your income tax return and be subject to income taxes on the sale of the capital gains on both houses.
What are the release dates for My First Sale - 2010 My Childhood Home or Two Mortgages 1-2?
My First Sale - 2010 My Childhood Home or Two Mortgages 1-2 was released on: USA: 1 April 2010
What happens if your home does not sale at the foreclosure auction?
at the auction sale of my home the sale was stopped. i did not file bankruptcy. i have two mortgages own by investors need to make a decision to or to move?
Can you short sale a two story house due to a physical disability?
Not all sellers nor all properties qualify for short sales. The lender must agree to it (meaning they must decide if it is advantageous to them). How big your house is and any disability is immaterial.
How to buy a house on short sale?
Give the Short Sale Lender Time to Respond. Make your offer contingent upon the lender's acceptance. Give the lender a time frame in which to respond, after which, you will be free to cancel. Some lenders submit short sales to committee, but most can make a decision within two to three months
Can you get a boat loan after you short sold your house?
I've tried two places so far, Southeast Financial and First Premier. Both have denied my claim. It's been two years since I was forced into a short sale by the bank on a secondary property. I have a 675 credit score and haven't missed a payment other than the short sale in 20 years. Not sure if I'll ever get a loan...
The sale price oh house panit is two gallons for 15.00 How much is one gallon of house paint?
7.50
Can you have two residential mortgages on two separate houses?
Yes
Can you have two mortgages for one property?
Yes. It is possible to have a mortgage and get a second mortgage on the same property. In some cases there are more than two mortgages on a single property.
Should you deal on a house before selling your current home or wait until after you sell?
If you can support two houses then make the deal. Otherwise, you may need bridge financing and could be stuck with two mortgages.
What causes a spontaneous dead short in a house?
A dead short is two inunsulated wires touching together, so you have to find those two wires.
What is the definition of homestead?
Homestead actually has two definitions. One of the definitions is that it a house or a building. The other definition is that when a person's house is exempt from forced sale that the house would be in during debt.
What is better a short sale or a foreclosure?
A short sale is always better. I will tell you why very definitively. When you purchase a home on a short sale you are helping a homeowner salvage their credit and dignity and helping them out of a bad situation. You are also preventing a large loss for the bank and getting a great deal for yourself. Everyone wins if it is done correctly. A foreclosure will have a very bad effect on a homeowner's credit and the bank will in most cases take a bigger loss than they would in a short sale. A sellers credit in a short sale will be damaged to a lesser extent than a foreclosure. In most circumstances if you have done a short sale you will not be able to get another loan for two to three years. In a foreclosure it is usually around five years before you can purchase another home.
