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This cool link will take you to a site that will tell you all you need to know about being pre-qualified to purchase a first home. http://www.usbank.com/mortgage/learning/pre-qual-approve.html
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Where can one get a new home mortgage?
You can go online to Wells Fargo and Chase for a New Home Mortgage. You can even go to their websites and prequalify. Texas Lending also has on their website a place to apply for a New Home Mortgage.
If your name is on the deed but not the mortgage who is responsible for the mortgage when the house is sold?
The mortgage will be paid off from the proceeds of the sale. The buyer's attorney will make certain the mortgage is paid off before the buyer takes title.
Which of these describes an assumable mortgage?
It can be transferred from seller to a buyer
After foreclosure on a first mortgage is the next buyer of the property liable for the second mortgage?
In almost every state, the answer is "NO".
How does one prequalify for a mortgage?
Pre-qualification for a mortgage is achieved by determining the price range of the home you wish to purchase, having a reasonable down payment for the loan in mind, and making sure to have all of your personal identification readily available when filling out an application for a mortgage loan. You can also call your banking institution and ask for a consultation with a mortgage loan representative.
Is a mortgage enforceable if not deeded to buyer?
Answer: A mortgage runs with the land until it is paid. The buyer would acquire the property subject to the mortgage.
Where can one get a new home mortgage?
You can go online to Wells Fargo and Chase for a New Home Mortgage. You can even go to their websites and prequalify. Texas Lending also has on their website a place to apply for a New Home Mortgage.
Which prequalify loan allow you to apply online with very little credit or for someone who is self employed?
First Equity Mortgage is a prequalify loan allow you to apply online with very little credit or for someone who is self employeed. You can get more information at www.firstequitymortgage.net
If your name is on the deed but not the mortgage who is responsible for the mortgage when the house is sold?
The mortgage will be paid off from the proceeds of the sale. The buyer's attorney will make certain the mortgage is paid off before the buyer takes title.
Who holds the deed the seller holding mortgage or buyer?
the seller holding mortgage
How many loans does Vanderbilt Mortgage currently service?
Vanderbilt Mortgage is a great mortgage company that have been in business for over 30 years. They currently service approximately 250,000 loans. If you are interested in securing a home loan with them they can prequalify you on their site in under 3 minutes.
Which of these describes an assumable mortgage?
It can be transferred from seller to a buyer
What describes assumable mortgage?
It can be transferred from a seller to a buyer.
After foreclosure on a first mortgage is the next buyer of the property liable for the second mortgage?
In almost every state, the answer is "NO".
How does one prequalify for a mortgage?
Pre-qualification for a mortgage is achieved by determining the price range of the home you wish to purchase, having a reasonable down payment for the loan in mind, and making sure to have all of your personal identification readily available when filling out an application for a mortgage loan. You can also call your banking institution and ask for a consultation with a mortgage loan representative.
Who are some companies that are buyers of mortgage notes?
A mortgage note is essentially a promissory note with the property concerned as a security for the loan. Companies that buy mortgage notes include the Texas Note Company, NCR Note Buyer as well as The Mortage Buyer, Inc.
Can a buyer of a second mortgage reinstate the first and make monthly payments even thought the first mortgage is under the name of the previous owners?
The buyer of a second mortgage is buying the rights of the mortgagee (lender) under the second mortgage. A buyer of a mortgage is correctly called a mortgage assignee. Therefore, the buyer of the second mortgage is subject to the first mortgage. The first mortgage needs to be paid, not "reinstated".The property remains subject to the first mortgage until it has been paid off. Even if the property is transferred to a new owner the property is subject to the first mortgage and the second mortgage if there was a second mortgage recorded in the land records. The second mortgage always remains subject to the first mortgage until the first mortgage has been paid.Note that a property subject to a mortgage is subject to all the terms of that mortgage. Mortgages have boilerplate "due on transfer" clauses. That means if there is any transfer in ownership of the property, the lender will demand payment of the mortgage in full, immediately.It sounds like you need to discuss this with an attorney who can review the details of your situation and explain your options.
