If you transfer the ownership of the property the lender has the right to demand immediate payment in full of the mortgage and it will. That is one of the provisions included in the mortgage contract that you signed. It is called a due on transfer clause. A sale of the property will constitute a breach of the agreement.
If you transfer the ownership of the property the lender has the right to demand immediate payment in full of the mortgage and it will. That is one of the provisions included in the mortgage contract that you signed. It is called a due on transfer clause. A sale of the property will constitute a breach of the agreement.
If you transfer the ownership of the property the lender has the right to demand immediate payment in full of the mortgage and it will. That is one of the provisions included in the mortgage contract that you signed. It is called a due on transfer clause. A sale of the property will constitute a breach of the agreement.
If you transfer the ownership of the property the lender has the right to demand immediate payment in full of the mortgage and it will. That is one of the provisions included in the mortgage contract that you signed. It is called a due on transfer clause. A sale of the property will constitute a breach of the agreement.
If you transfer the ownership of the property the lender has the right to demand immediate payment in full of the mortgage and it will. That is one of the provisions included in the mortgage contract that you signed. It is called a due on transfer clause. A sale of the property will constitute a breach of the agreement.
Absolutely! A home loan modification is designed to do 2 things. 1. Make the payment affordable for the homeowner. 2. Keep the bank from foreclosing on the house. The bank loses money on every foreclosure, as they are not legally allowed to make a profit. As a result, they are more than willing to find a way to keep the collateral paid. If you sell the house after a successful modification, then they are not taking a loss on the property. Even in the event you have to short sell the property, it is more beneficial to the bank to short sell than foreclose. Modification has no refleflection or bearing on the sale of your home, and you will not be charged any extra fees if you sell a home that has a modified note.
You can do a short sale or pay whatever you owe the bank. Loan modification may work, but that generally needs to be done before entering foreclosure.
what is penalty on the sale tax challan
The mortgage must be paid off at the closing from the proceeds of the sale.
You sure can.
There should be no balance. The sale of the home will probably wipe out the balance of the home equity loan if there is negative equity. Depending on your state, a home equity loan lender may ask for funds from the seller in order to release their lien, especially if the the funds for the home equity loan were used for non-home improvement items. The lender may ask for funds from the seller in order to release their lien in these cases. Can they legally? Possibly. There is a federal forgiveness bill that was passed as far as taxation goes, but there is criteria that has to be met.
Th eloan is repaid with the proceedes of sale prior to you being paid what is left. If the loan is not repaid, you could be in violation of the law for not disclosing the lien.You can not accept money that is collateral against another loan.
You can obtain another home loan, however, you may be subject to paying a much higher interest rate than you would if you had good credit.
A short sale is where the lender agrees to allow the mortgagor to sell the property for less than what they owe on the loan (because the value of the property is less than the loan amount and therefore that's all it can be sold for).
Yes, you can purchase a Short Sale with an FHA loan. There are no restrictions on the type of financing in the purchase of a short sale.
Short Answer: Yes. You signed paperwork on the construction loan that would be very similar to the final loan. They will foreclose and sell the house at a sheriff's sale.
There are 12 Federal Home Loan Banks. They are owned by member institutions including savings and loans, commercial banks, savings banks, etc. The Federal Home Loan Banks serve as whole sale lenders to their member institutions. If you'd like to learn more about the Federal Home Loan Banks, take a look at the book, Mission Expansion and the Federal Home Loan Banks (SUNY Press, 2010).