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Can you take out a mortgage to pay off loans that you already have out?
Wiki User
∙ 11y ago
yes, when you take a second bond on your mortgage your pay less interest rates so that is the better option
Wiki User
∙ 11y ago
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How can you pay your mortgage?
The easiest way is by working with a credible mortgage company; this will not only provide you with the best financial solution possible, but will also take a lot of the stress off of buying a house. A mortgage company will look at your income and credit information, as well into the nature of the house you are looking to buy itself, to determine if you are eligible to receive any type of loans. Once this process is finalized and approved, you will forwarded the loans at the place of settlement. Get in contact with a good mortgage company and they will help you determine the best way for you to pay off your mortgage.
What are the mortgage refinancing loans?
Mortgage refinancing loans are a way to save money usually by lowering your monthly payment or by lowering your interest rate. They also allow you to pay off your Mortgage if you're switching from a 30-year loan down to a 15-year loan.
Can you sue your mortgage company for not closing your loans because interest rates go up?
Highly unlikely! Look at your contract and you will see a variable rate mortgage is structured to do exactly that... vary. If the mortgage company "closed" your loans you would be without a mortgage and therefore without a house, unless you paid off the loans. Unless your contract for some reason stipulates that your loans terminate when interest rates go up, which would be very weird, you simply must pay a higher interest rate or default on your loans. In which case the lender would take your house. That's why a variable rate mortgage is a very dangerous way to buy a house. The best thing to do, if you can, is refinance into a fixed rate mortgage while current rates are low.
Why might a homeowner take out a second mortgage?
A homeowner take out a second mortgage if they are struggling to pay off their first mortgage. You can read more at www.bostonapartments.com/mortgage/second-mortgage/second-mortgage.html -
Where can one get loans to pay off debts?
A person can get loans to pay off debts from a mortgage lender. However, how things are in our day in age they most likely won't approve the loan because of bad credit history.
Can you sell your paid for home if the loans you co-signed for are not paid the loans are being deferred and your home was the collateral?
Your home is not paid for if it was used as collateral for loans. A loan that has real property as collateral is called a mortgage and a mortgage is a lien against your property. You cannot sell your home until the mortgages have been paid off or in the case of a sale arrangements are made to pay the loans from the proceeds of a sale.Your home is not paid for if it was used as collateral for loans. A loan that has real property as collateral is called a mortgage and a mortgage is a lien against your property. You cannot sell your home until the mortgages have been paid off or in the case of a sale arrangements are made to pay the loans from the proceeds of a sale.Your home is not paid for if it was used as collateral for loans. A loan that has real property as collateral is called a mortgage and a mortgage is a lien against your property. You cannot sell your home until the mortgages have been paid off or in the case of a sale arrangements are made to pay the loans from the proceeds of a sale.Your home is not paid for if it was used as collateral for loans. A loan that has real property as collateral is called a mortgage and a mortgage is a lien against your property. You cannot sell your home until the mortgages have been paid off or in the case of a sale arrangements are made to pay the loans from the proceeds of a sale.
How can you pay your mortgage?
The easiest way is by working with a credible mortgage company; this will not only provide you with the best financial solution possible, but will also take a lot of the stress off of buying a house. A mortgage company will look at your income and credit information, as well into the nature of the house you are looking to buy itself, to determine if you are eligible to receive any type of loans. Once this process is finalized and approved, you will forwarded the loans at the place of settlement. Get in contact with a good mortgage company and they will help you determine the best way for you to pay off your mortgage.
What is the required timeframe for mortgage lenders to retain files for paid off mortgage loans?
The timeframe for which a mortgage lender is required to retain files for a paid off mortgage loan depends on the state that the lender is in. Each state has their own laws regarding mortgages.
What are the mortgage refinancing loans?
Mortgage refinancing loans are a way to save money usually by lowering your monthly payment or by lowering your interest rate. They also allow you to pay off your Mortgage if you're switching from a 30-year loan down to a 15-year loan.
Can you sue your mortgage company for not closing your loans because interest rates go up?
Highly unlikely! Look at your contract and you will see a variable rate mortgage is structured to do exactly that... vary. If the mortgage company "closed" your loans you would be without a mortgage and therefore without a house, unless you paid off the loans. Unless your contract for some reason stipulates that your loans terminate when interest rates go up, which would be very weird, you simply must pay a higher interest rate or default on your loans. In which case the lender would take your house. That's why a variable rate mortgage is a very dangerous way to buy a house. The best thing to do, if you can, is refinance into a fixed rate mortgage while current rates are low.
Why might a homeowner take out a second mortgage?
A homeowner take out a second mortgage if they are struggling to pay off their first mortgage. You can read more at www.bostonapartments.com/mortgage/second-mortgage/second-mortgage.html -
On what terms are mortgage loans usually arranged?
Since the 1930s, mortgage loans made in primary markets typically have been long-term, fixed-rate instruments with level payments that pay off (amortize) the principal balance over the term of the loan
Where can one get loans to pay off debts?
A person can get loans to pay off debts from a mortgage lender. However, how things are in our day in age they most likely won't approve the loan because of bad credit history.
How do you take a partner's name off the mortgage?
You can't take someone's name off the mortgage. The mortgage belongs to the bank and both of you signed a contractual obligation. The mortgage must be paid off and refinanced in one name and the partner must convey their interest to the co-owner. Then the property and mortgage will be in one name.
How can one buy a house with no mortgage?
One can buy a house with no mortgage if they are wealthy individuals who do not need loans to pay off a house. They usually pay the full amount of a house in cash.
How long do rural development loans take?
A rural development loan takes no longer or shorter time to come through than any other type of mortgage loans. That is to same it takes about a month for the loan to come through and 30 years of payments to pay it off.
Can a second mortgage put a lien on a home that is not foreclosed but I owned as a primary home however since foreclosure the first mortgage was paid its full amount and the second mortgage nothing?
A second mortgage already has a lien on the home. If you don't pay the second mortgage they will foreclose and take the home. By paying off the first mortgage you just make it easier for the bank to get their money back out of the property when they sell it.
