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No you don't have to mortgage your house, however if you do mortgage it, you could invest the available cash into a Money Market Mutual fund and cut you monthly payments to almost nothing, or actually make a profit.
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∙ 12y ago
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How do you buy a second house and get a 2nd residential mortgage when you already have a mortgage on your first house?
Sexytime with banker.
Do you still owe the house when you enter to reverse mortgage?
You still own the house if you have a reverse mortgage, yes.
What should I do with my dead father's house he left a mortgage on the house?
Unless you were a co-signer or legally part of the purchase process on either the house or the mortgage, you have no legal responsibility to pay back the mortgage in part or in full. If the house with the mortgage was willed to you, I would consult your family lawyer for help.
Should you pay off your house mortgage?
Yes, you should pay off you house mortgage because otherwise, you do not truly own your house.
can i get a loan to fix my house and not take out second mortgage?
can i get aloan to fix my house without taken a second mortgage out
What is the difference between a construction mortgage loan and a normal mortgage loan?
A normal mortgage is borrowing money to buy a house. A construction mortgage is when you own a house and borrow money against the house for repairs or renovations.
How do you buy a second house and get a 2nd residential mortgage when you already have a mortgage on your first house?
Sexytime with banker.
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 is responsible for a mortgage if the owner dies before its paid off and the house is left to her son in a will?
The mortgage should be paid by the remaining estate. If there is not enough cash left to pay off the mortgage, the house can be sold and the mortgage paid at closing, or if the mortgage is assumable, the son may take on the mortgage as his own debt and keep the house.
What is a good way to get a cheap home mortgage?
A good way to get a cheap home mortgage is by buying a home that is small. The larger the house, the more the mortgage will cost. The mortgage depends on the size of the house.
What should I do with my dead father's house he left a mortgage on the house?
Unless you were a co-signer or legally part of the purchase process on either the house or the mortgage, you have no legal responsibility to pay back the mortgage in part or in full. If the house with the mortgage was willed to you, I would consult your family lawyer for help.
Is there a mortgage on The White House?
no
Should you pay off your house mortgage?
Yes, you should pay off you house mortgage because otherwise, you do not truly own your house.
can i get a loan to fix my house and not take out second mortgage?
can i get aloan to fix my house without taken a second mortgage out
Can you file and keep your house if you have a second mortgage?
You will be able to keep the house provided you keep making the mortgage payments. In a chpt. 13, if the 1st mortgage amount is higher than the house value, you can strip the 2nd mortgage and treat it as an unsecured creditor. If the house value is higher than the 1st mortgage, then you will need to keep paying both mortgages.
What happens when you die and leave a mortgaged house to someone?
They now have a house with a mortgage on it. If they cannot, or do not wish to, pay the mortgage, they will have to sell the house, pay off the mortgage, and keep the remainder of the money. The mortgage holder may require you to get a new mortgage on the property, rather than assume the existing loan. You are essentially leaving them what ever value you own of the house.
I pay the mortgage but my husband paid for the house is it my house?
If you are paying the mortgage, your husband didn't pay for the house. The bank owns the house and you and your husband have an equal share in the equity.
