0
Home is up for foreclosure can you get a new mortgage on another home what will the interest rate be?
Wiki User
∙ 16y ago
Your interest rate, should you find a loan, is going to be awful. It is best to find a place to rent until the foreclosure is sorted out. Have you considered working with the lender to refinance??? Many are working it out with people who have an ARM. I worked in subprime mortgages and they wanted at least a year, but better several years since a foreclosure. This is going to hit your credit score in a heavy way. While you are waiting for time to pass, get a handle on your finances, save up a substantial downpayment and see what you can do from there. You can call banks to find out rates. A broker will charge you 3-5% commission.
Wiki User
∙ 16y ago
Add your answer:
Earn +20 pts
Can a second mortgage put your home in foreclosure?
Yes, any unpaid mortgage can put your home in jeopardy of foreclosure.
WHAT is a stand alone second mortgage and what happens to it when a home goes to foreclosure?
A stand alone second mortgage is another loan that is taken out against your home when the first loan is still in order. If your home goes to foreclosure, you will still owe this money as well.
How many can a home mortgage go into foreclosure?
three
My husband purchased a home then added my name to the deed. Now we are in the process of foreclosing. What happens to my undivided half interest?
If your husband mortgaged his property prior to adding your name to the deed then you acquired your interest subject to the mortgage and the bank can take possession of the property by foreclosure. Your "interest" was encumbered by the mortgage. If you want to keep it then you must pay the mortgage.If your husband mortgaged his property prior to adding your name to the deed then you acquired your interest subject tothe mortgage and the bank can take possession of the property by foreclosure. Your "interest" was encumbered by the mortgage. If you want to keep it then you must pay the mortgage.If your husband mortgaged his property prior to adding your name to the deed then you acquired your interest subject tothe mortgage and the bank can take possession of the property by foreclosure. Your "interest" was encumbered by the mortgage. If you want to keep it then you must pay the mortgage.If your husband mortgaged his property prior to adding your name to the deed then you acquired your interest subject tothe mortgage and the bank can take possession of the property by foreclosure. Your "interest" was encumbered by the mortgage. If you want to keep it then you must pay the mortgage.
What are your rights during a foreclosure on your home?
It actually depends on your state, as the foreclosure laws are set by state. There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure.
Is tax on continuing a second mortgage deductible after filing for a first foreclosure?
Even if you have had a foreclosure, tax on a second mortgage or home equity loan is still deductible.
How do you prevent your home from going in to foreclosure?
By paying your mortgage payments on time.
What to expect in foreclosure of condo not primary home?
The foreclosure of a condominium unit upon which you hold a mortgage should proceed like any other foreclosure.
To whom would one go for advice regarding a home foreclosure?
In the United States, there are government programs in place to help homeowners avoid foreclosure on their home. Some of these programs can help to lower monthly mortgage payments and interest rates. The USA Government website is an excellent source of information for someone facing foreclosure.
Foreclosure in probate?
me and my sister are in probate and faceing foreclosure because of miscommunication on the mortgage payments, what can we do?scared of losing mothers home.
Can you will someone your home if it is not paid for?
Yes. You can leave your property to a beneficiary. However, the beneficiary must pay off the mortgage or the lender will take possession of the property by foreclosure. When you grant a mortgage you are granting the lender an interest in your property. Your beneficiary would take the property subject to the bank's interest.
What is the purpose of an equity home loan mortgage?
An equity home loan mortgage is similar to a second mortgage where it is possible to borrow on the equity of a home. This helps reduce financial pressure like facing a foreclosure on a home.
