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That seems like an error. Go back to the attorney or title insurance agency or whomever worked up and filed the paperwork. Let them know that there seems to be a mistake and that you'd like it taken care of. They should do it all as part of the original fee.

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โˆ™ 2006-04-09 15:39:11
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Q: If your bus partner and you purchased a res. investment property and he signed for the mortgage but both of you are on the deedtitle can one of you refi a portion of the equity by yourself?
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Related questions

Where can one obtain investment property mortgage loans?

One can obtain investment property mortgage loans from many banks. For example, in Canada, the banks that offer investment property mortgage loans include RBC, TD, CIBC, Scotia Bank, BMO, etc.


Do you have to carry private mortgage insurance on an investment property?

no


Can you use the money made on an investment property to refinance your primary property into an investment property?

You can spend your profit from your investment property any way you wish as long as you make your mortgage payments. If you want to refinance then you need to speak with your lender.You can spend your profit from your investment property any way you wish as long as you make your mortgage payments. If you want to refinance then you need to speak with your lender.You can spend your profit from your investment property any way you wish as long as you make your mortgage payments. If you want to refinance then you need to speak with your lender.You can spend your profit from your investment property any way you wish as long as you make your mortgage payments. If you want to refinance then you need to speak with your lender.


Where can one compare investment property mortgage rates?

There are quite a number of various places that one can go to compare investment property mortgage rates. One of the best places to do this is the Lending Tree website.


Can you get a normal mortgage for investment in a UK property or is another mortgage type product available?

If by a normal mortgage you mean a residential mortgage then generally speaking, no - not for investment purposes. However it really depends on what you intend to do with the property, buy the property to rent out (buy to let), buy to renovate and sell (aka 'flip') or any number of other strategies.


What happens if a piece of property you purchased by quit claim deed has a mortgage against it?

You must pay the mortgage or the lender will take possession of the property by foreclosure.


What are some benefits of an investment property mortgage?

There are lots of places online where someone can find information. Especially if they are looking to find some of the benefits of an investment property mortgage. Carrying a mortgage on any Real Estate is dangerous. As a business venture (ie. investment property) it is extremely dangerous. For instance, as a landlord, every month that the house is empty, you are still responsible for making the mortgage payment to the bank. If there is no one signed to a lease, and as the landlord, you are out of work, the bank will come and take your investment away. Sell it, and sue you for the difference.


How does one refinance their investment property?

An individual can refinance his or her investment property by lower one's monthly mortgage payment and increase one's rental income. Use one's equity to purchase additional property.


How are commercial property mortgage rates calculated in general?

Commercial property mortgage rates are calculated primarily on the total value of the property being purchased. Other factors, such as down payment and interest rates will also affect the mortgage rate.


What is the amount that you should have to qualify to keep an investment property?

IF you have an investment property the property is yours as long as you own it or can keep up the mortgage payments on it. It would also become a asset that may be ceased if you were made bankrupt.


Are you required to pay taxes on an investment property when your name is added to the deed for refinancing a mortgage?

Yes


Is it possible to get mortgage financing for an investment home?

Yes, it is possible to get mortgage financing for an investment home through almost any bank or mortgage lender. Most financial institutions have an application that is filled out, on it you are to select investment property; this way for legal purposes the bank and government know this will not be your permanent address.


Are mortgage payments on an investment property an expense?

Any payments you must make from Gross Income to keep the property running are expenses. Although a mortgage is usually also called a Liability Expense, it is still an expense to run the property.


Can a home be foreclosed on when the mortgage is in a different name from What is on the deed?

Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.


Do you have rights to house if married but name not on mortgage or deed?

The answer depends on the laws in your particular jurisdiction and when the property was purchased.


Can an ex wife place a mortgage lien on the property if she already quitclaimed her interest in the property?

No. Only the owner can grant a mortgage on a property.No. Only the owner can grant a mortgage on a property.No. Only the owner can grant a mortgage on a property.No. Only the owner can grant a mortgage on a property.


Is investment property real property?

Yes, investment property is real property.


Why property investment is worth?

Few major reasons why property investment in real estate is one among the best way to accumulate wealth. 1 - Investing in impending cities or town is the best approach to make money. 2 - Rental property investment normally rises in value, which implies sale and reinvestment in higher value properties. 3 - Making a good deal in property investment can make 10-35% returns 4 - You should lessen your mortgage and increase your equity with every mortgage payment made on underlying debt.


Are mortgages on investment properties discharged under a Chapter 13?

You will not end up owning the property without a mortgage...or not paying the mortgage in full if that's what you mean. The mortgagee will be allowed to foreclose and sell the property it is secured by to recover any loss.


Does the terms or the percentages change when canceling Freddie Mac private mortgage insurance on a single family home or a non owner occupied investment property?

NO.. It will not affect your mortgage interest rate.


What are the advantages of having a buy to let mortgage?

A major advantage of a buy to let mortgage is that you have an investment property that you never pay a dime on, your renters do it for you. Depending on the area, there are various tax advantages.


Definition of investment property?

A property purchased with the intention to make a return on investment in the form of either rent or capital gain. Agreed. An investment property is a property one uses for wealth purposes. ======== An investment property can be a long-term endeavor, such as an apartment building, or an intended short-term investment in the case of flipping (where a property is bought, remodeled or renovated, and sold at a profit). Depending on what your goals are, you may want to sit down and make a long or short-term plan and make sure that you factor in all of the possible risks!


Is your property in Michigan exempt if you do not pay your mortgage in Florida?

Your property in Michigan would not be affected by your mortgage in Florida.Your property in Michigan would not be affected by your mortgage in Florida.Your property in Michigan would not be affected by your mortgage in Florida.Your property in Michigan would not be affected by your mortgage in Florida.


What is the difference between renting a property and having a mortgage?

The difference between renting a property and having a mortgage is that when you have a mortgage you are buying the property.


How can you get a reverse mortgage on your partial interest in the property?

You can only get a reverse mortgage on owner occupied property. All parties living in the home must be age 62 or older. investment homes - second homes - homes built before 1976 - do not qualify