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How can a second mortgage loan be discharged?
Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.
What is a home mortgage?
A home mortgage is a loan that is secured by property through the use of a mortgage note that ultimately grants you a mortgage for your home. You can obtain financing on the purchase of your new home or any home.
You are on the deed but not the mortgage. Can you pay the mortgage without being on the mortgage if you want to keep the house?
You can make mortgage payments if you're not on the mortgage. However, you would be a volunteer and paying the mortgage in and of itself wouldn't give you any interest in the property. You would be paying for someone else's property.However, if your name was added to the property after the mortgage was granted you would be protecting your interest in the property by making certain the mortgage is paid on time.
How can I stop paying mortgage insurance?
You can stop paying mortgage insurance by reaching 20 equity in your home, either through paying down your mortgage or an increase in your home's value. Once you reach this threshold, you can request to have the mortgage insurance removed.
Can someone that has a home equity loan with a co-signer just sign the loan over to the co-signer?
No. A home equity is a mortgage and the lender owns the mortgage. The borrower cannot make any changes in the terms. Whoever signed the mortgage is responsible for paying the loan. If the loan isn't paid the lender will take possession of the property by foreclosure.No. A home equity is a mortgage and the lender owns the mortgage. The borrower cannot make any changes in the terms. Whoever signed the mortgage is responsible for paying the loan. If the loan isn't paid the lender will take possession of the property by foreclosure.No. A home equity is a mortgage and the lender owns the mortgage. The borrower cannot make any changes in the terms. Whoever signed the mortgage is responsible for paying the loan. If the loan isn't paid the lender will take possession of the property by foreclosure.No. A home equity is a mortgage and the lender owns the mortgage. The borrower cannot make any changes in the terms. Whoever signed the mortgage is responsible for paying the loan. If the loan isn't paid the lender will take possession of the property by foreclosure.
Are there any loan companies that will give you a loan for another house if you have not been paying the mortgage on your current house?
No.
i have heard of grants that will pay your mortgage while you are in school is this true?
There are no government grants freely given to pay your house payment while you are in school. However, money from educational grants can be used to pay for living expenses, including your mortgage payment or rent.
What are some important factors to consider in regards to a mortgage?
When considering a mortgage, it is important to consider the fees that you will be paying on the mortgage as well as any penalties if you chose to end the mortgage, not just the basics of interest rate, term, and fixed or floating rate.
What are the differences between an open mortgage and a closed mortgage?
An open mortgage allows you to pay off the loan at any time without penalties, while a closed mortgage has restrictions on prepayment and may have penalties for paying off the loan early.
How can one avoid capital gains by paying off their mortgage?
Paying off your mortgage can help avoid capital gains because when you sell your home, any profit made from the sale may be subject to capital gains tax. By paying off your mortgage, you reduce the amount of profit from the sale, potentially lowering or eliminating the capital gains tax you would owe.
Can I refinance my mortgage taking my ex husband off while adding a different person who has better credit than me?
The owners of the property must sign the mortgage so the lender can take possession by foreclosure in the case of a default. Any co-signer should be fully informed that they will be responsible for paying the mortgage if the primary borrower defaults.The owners of the property must sign the mortgage so the lender can take possession by foreclosure in the case of a default. Any co-signer should be fully informed that they will be responsible for paying the mortgage if the primary borrower defaults.The owners of the property must sign the mortgage so the lender can take possession by foreclosure in the case of a default. Any co-signer should be fully informed that they will be responsible for paying the mortgage if the primary borrower defaults.The owners of the property must sign the mortgage so the lender can take possession by foreclosure in the case of a default. Any co-signer should be fully informed that they will be responsible for paying the mortgage if the primary borrower defaults.
My husband cosigned for my 2nd mortgage and he is not on the first mortgage. if we have the same lender for both mortgages and we quit paying on the first mortgage how fast will his credit be impacted?
Since he is not listed as a borrower on the first mortgage his credit is not affected by paying or not paying that mortgage. Even if both loans are with the same company, he is only held responsible for the loan in which he signed.
