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No you cant because part of your mortage is for the land value and part is for the value of the structure/house.

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โˆ™ 2009-08-18 14:12:20
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Mortgages

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When buying a house can you get a larger house loan so you can pay off some of your credit cards and car

How long do you have to wait in Canada before purchasing a house after bankruptcy

What is a mortgage lien

Is home owners insurance required

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Related questions

Can you sell home to co borrower?

If two people both own a home or are both in the process of paying off a mortgage on a home, one of them can certainly buy out the others interest in that home, as long as both of them agree on the price.


How long can you stay in your home after bankruptcy?

You can stay as long as you continue paying the mortgage. Or if you dont plan to keep the house, then you would be able to stay several months before the lender forecloses.


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.


How long do you have to be paying on mortgage insurance before it will payoff on a death of one of the mortgage holders?

This depends on the Terms and Conditions of the Policy, you will find these on the Policy Document itself.


How do you pay back Reverse mortgage?

A reverse mortgage, also known as a Home Equity Conversion Mortgage (HECM) is a relatively new product. A reverse mortgage is a loan against the equity in your home that you don't need to pay back for as long as you live in the home.


How long does a lender have to repossess?

I am 3 months behind on my mortgage? How long until they repo my home?


How long is the average first time buy mortgage?

Most First-Time Home Buyer mortgage programs require a 30-year mortgage although there are some exceptions. Most offer a lower down payment or even no down payment but there are downsides to these programs. Consultation with a reputable mortgage broker and your banker will help cut through the confusing language and give you the best advice.


What are the general deal terms of a remortgage?

It is possible to change the term of one's mortgage. The monthly mortgage payment amount will change since one is paying the mortgage off for either a long period of time or a short period of time.


What does down spending mean?

If this is referring to Medicaid, the process of "spending down" is usually undertaken in order to qualify for Medicaid assistance with paying for long-term care in a nursing home.


How long does it take for a mortgage co to reposses a manufactured home?

There is no set time for how long it will take a mortgage company to repossess a manufactured home. It could be as short as 30 days or take up to a year or more.


How long does it take to get a wells Fargo home mortgage?

A wells fargo home mortgage can take up to anywhere between one hour to three days. It is not a long process, depending on which way you apply for the loan. It's not a long process.


What are the statute of limitations in Georgia for mortgage debt?

As long as the home is still owned, no, there is no limit. The mortgage holder has a lien on the property and that will suffice.

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