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it is quite unlikely that you will be able to get a mortgage lender with that history.
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∙ 14y ago
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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 happens if a house with a mortgage is left to adult children who do not want to assume the mortgage?
The house has to be put up for sale and the profit will be divided between the children. You may also let the bank repossess the house if it has little value.
If loan is not reaffirmed on a mortgage is the property still mine payments are made on time?
as long as you keep making payments the lender will probably not repossess the property. however, if you miss one payment the lender can repossess the property at any time.
Can you put a house with a mortgage in a trust?
Yes. There are almost no obstacles if you still own and live in the house after.
The husband has his name only in the mortgage deed and mortgage insurance if he dies would mortgage company get the house or would the wife?
The mortgage insurance you are referring to is most likely the standard mortgage insurance that is on a loan above 80% of the value of the house. This MI covers the lender in case of the borrower defaulting on the loan. It does nothing to help the borrower. If you are on the deed then you still own the house if your husband dies but if you cannot either refinance the mortgage or continue to pay the monthly payments then the lender will ultimately foreclose on the house and repossess it. What you need is a life insurance policy that will pay off the balance on the mortgage in case of the death of the mortgage holder.
How long does a lender have to repossess?
I am 3 months behind on my mortgage? How long until they repo my home?
Do you still have to pay back your mortgage if your house for sale?
Of course. Until you pay off the mortgage loan, you have to pay payments on the home.
Who has to leave the house when a legal separation is taking place and who is responsible for paying the mortgage?
You can be separated and still live in the same house. No one has to move.The mortgage payment is made by the person whos name is on the mortgage. If it is in both names you are both responsible.
Lisa's house was appraised at 115000. She still owes 42000 on her mortgage loan. How much equity does Lisa have in her house?
73000
Lisa and house was appraised at 115000. She still owes 42000 on her mortgage loan. How much equity does Lisa have in her house?
$73,000
Lisa's house was appraised at $115000. She still owes $42000 on her mortgage loan. How much equity does Lisa have in her house?
73000
Husband-and-wife buy a house together the wife's name is not put on the deed until the second mortgage but the second mortgage is now paid off do we still share the deed of trust?
If a husband and wife buy a house together and the wife's name is not put on the deed until the second mortgage, yes, the deed is still shared after the second mortgage is paid off.
