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It's better to pay off your mportgage.
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∙ 11y ago
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Does the bank sell a reverse mortgage home on owners death?
Yes, unless the mortgage is paid off by the heirs if they want to keep the property.Yes, unless the mortgage is paid off by the heirs if they want to keep the property.Yes, unless the mortgage is paid off by the heirs if they want to keep the property.Yes, unless the mortgage is paid off by the heirs if they want to keep the property.
What do you do if you inherit a reverse mortgage?
If you inherit property that is subject to a reverse mortgage you must make arrangements with the bank to pay off the mortgage if you want to keep the property. If not then the bank will take possession of the property under the terms of the reverse mortgage.If you inherit property that is subject to a reverse mortgage you must make arrangements with the bank to pay off the mortgage if you want to keep the property. If not then the bank will take possession of the property under the terms of the reverse mortgage.If you inherit property that is subject to a reverse mortgage you must make arrangements with the bank to pay off the mortgage if you want to keep the property. If not then the bank will take possession of the property under the terms of the reverse mortgage.If you inherit property that is subject to a reverse mortgage you must make arrangements with the bank to pay off the mortgage if you want to keep the property. If not then the bank will take possession of the property under the terms of the reverse mortgage.
Is it possible to get a mortgage on a second home that includes enough money to pay off the mortgage on the first house?
You could take out a mortgage on a second home to payoff the mortgage on your primary residence if you have sufficient equity. I guess the question would be, why would you want to do that? Generally, you are going to get better terms on a mortgage for an owner occupied residence vs. a 2nd home all else being equal.
If you are selling your house do you have to pay off your second mortgage or can you keep making payments?
When you sell your home all liens against the property have to be paid so you will have to pay off the second mortgage at the closing.
Can heirs make payments to keep the home of a reverse mortgage?
Yes. They can pay off the mortgage within a certain time period set by the lender.Yes. They can pay off the mortgage within a certain time period set by the lender.Yes. They can pay off the mortgage within a certain time period set by the lender.Yes. They can pay off the mortgage within a certain time period set by the lender.
Does the bank sell a reverse mortgage home on owners death?
Yes, unless the mortgage is paid off by the heirs if they want to keep the property.Yes, unless the mortgage is paid off by the heirs if they want to keep the property.Yes, unless the mortgage is paid off by the heirs if they want to keep the property.Yes, unless the mortgage is paid off by the heirs if they want to keep the property.
Can someone tell me how to do pay off my house?
Paying monthly mortgage is hard, and its not getting any easier I recommend going to the website below and maybe you will find your answer there. Read more: Keep the mortgage or pay off the house? http://www.bankrate.com/finance/mortgages/keep-the-mortgage-or-pay-off-the-house--1.aspx#ixzz1S03p1Mml
Would it be cheaper to get a loan to pay your mortgage off?
Probably not as the rate is usually a lot better on a mortgage
Can an executor allow a house to be foreclosed on if there is no money in the estate to pay monthly mortgage?
Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.
What do you do if you inherit a reverse mortgage?
If you inherit property that is subject to a reverse mortgage you must make arrangements with the bank to pay off the mortgage if you want to keep the property. If not then the bank will take possession of the property under the terms of the reverse mortgage.If you inherit property that is subject to a reverse mortgage you must make arrangements with the bank to pay off the mortgage if you want to keep the property. If not then the bank will take possession of the property under the terms of the reverse mortgage.If you inherit property that is subject to a reverse mortgage you must make arrangements with the bank to pay off the mortgage if you want to keep the property. If not then the bank will take possession of the property under the terms of the reverse mortgage.If you inherit property that is subject to a reverse mortgage you must make arrangements with the bank to pay off the mortgage if you want to keep the property. If not then the bank will take possession of the property under the terms of the reverse mortgage.
Who is responsible for a mortgage if the owner dies before its paid off and the house is left to her son in a will?
The mortgage should be paid by the remaining estate. If there is not enough cash left to pay off the mortgage, the house can be sold and the mortgage paid at closing, or if the mortgage is assumable, the son may take on the mortgage as his own debt and keep the house.
Is it possible to get a mortgage on a second home that includes enough money to pay off the mortgage on the first house?
You could take out a mortgage on a second home to payoff the mortgage on your primary residence if you have sufficient equity. I guess the question would be, why would you want to do that? Generally, you are going to get better terms on a mortgage for an owner occupied residence vs. a 2nd home all else being equal.
How can you get rid of a second mortgage?
Pay it off. You aren't getting rid of it (or the first mortgage) and keep the property that is pledged as security if that's what you mean.
Is it better to pay off a collection agency or get caught up on a mortgage one month behind?
Mortgage should always come first.
If you are selling your house do you have to pay off your second mortgage or can you keep making payments?
When you sell your home all liens against the property have to be paid so you will have to pay off the second mortgage at the closing.
Can heirs make payments to keep the home of a reverse mortgage?
Yes. They can pay off the mortgage within a certain time period set by the lender.Yes. They can pay off the mortgage within a certain time period set by the lender.Yes. They can pay off the mortgage within a certain time period set by the lender.Yes. They can pay off the mortgage within a certain time period set by the lender.
Can a person agree to keep on paying for certain obligations such as a home mortgage?
A person who executed a mortgage has already agreed to be responsible for paying it until it is paid off.
