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What else can I help you with?
Is it must to purchase house in both the names after marriage in usa?
No. A house may be purchased in either one or both names. However, if both incomes are required to qualify for the mortgage, the bank may question why ownership will be in only one name. Generally, if you want the house in only your name, YOU need to pay for it.
What to do when you pay rent and don't have the house?
Either you pay rent for the house or you don't pay rent because you do not have house. It can't be both the situations.
Second mortgages but im finding it hard to pay and plus the equity in the house is a lot less on what they gave us what can you do?
i have a second mortgage and find it hard to pay the equity in the house is far to low to what they gave what can i do
Can you buy a new house if you are upside down on your house?
Yes, if you have a huge and steady income and can afford to pay both mortgages.Yes, if you have a huge and steady income and can afford to pay both mortgages.Yes, if you have a huge and steady income and can afford to pay both mortgages.Yes, if you have a huge and steady income and can afford to pay both mortgages.
Do you have to have to pay the second mortgage if the house is sell for less than the whole amount?
Yes. You have to pay the second mortgage regardless of how much your home sells for. You borrowed the money, you pay it back.
Can you make a meaningful sentence using the word mortgage?
Failing to pay my mortgage resulted in the foreclosure of my house and the end of my marriage.
If you have a second mortgage and filed chapter 7 what is your obligation to the second mortgage?
If you don't pay the 2nd mortgage the lender will take the house. It is a secured loan so, meaning that they get something in return for lending you the money. If you don't pay back the money, they get the house.
If you are selling your house do you have to pay off your second mortgage or can you keep making payments?
When you sell your home all liens against the property have to be paid so you will have to pay off the second mortgage at the closing.
What is buying a house consumption or investment?
investment if it is new, consumption if you pay rent or are a second-hand buyer
If both parents are not married but together does one have to pay child support?
Yes, both parents are still responsible for the raising of the child. yup its called "common marriage"
What are the similarities between the first and second estate?
They were both loaded with priviliges and did not have to pay any taxes.
What could happen if you have 2 mortgages on the same property and you only default on the smaller of the 2 mortgages?
A mortgage is a promise that you make to the lending company. You promise them that if you don't pay back the loan, then they can have your house. It's no different for the second mortgage except that if you fail to pay either bank, and they both want your house, then the first mortgage holder always wins. If you default on your second mortgage..then they have the right to foreclose and sell your property BUT they have to pay the balance on your first off. If you defalut on your first mortgage then they will give notice to your second mortgage company and give them the option to "accelerate " the mortgage and they can foreclose..but if the second does not then the first mortgage can foreclose and sell your property and only pay the second off if there is enough money from the sale. It really doesn't matter if the mortgage balance is the "smaller" it is who is recorded in first & second lien position.
