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My husband and i live with my mother we have a life estate on our deed for her protection. In order to refinance the mortgage we have to remove it. Can we put it back on after we close.?
Wiki User
∙ 12y ago
Probably not, check your mortgage for what can be done with the property. Lenders do not like property encumbered with life estates.
Wiki User
∙ 12y ago
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How do you buy out a spouse's mortgage?
You must pay off the mortgage and refinance. As part of the transaction your spouse must convey their interest in the real estate to you then you can refinance in your own name providing you qualify according to to the lenders requirements.You must pay off the mortgage and refinance. As part of the transaction your spouse must convey their interest in the real estate to you then you can refinance in your own name providing you qualify according to to the lenders requirements.You must pay off the mortgage and refinance. As part of the transaction your spouse must convey their interest in the real estate to you then you can refinance in your own name providing you qualify according to to the lenders requirements.You must pay off the mortgage and refinance. As part of the transaction your spouse must convey their interest in the real estate to you then you can refinance in your own name providing you qualify according to to the lenders requirements.
How do you refinance a life estate property?
Generally, in order to refinance the property the owner of the property AND the life estate holder must both sign the mortgage. If you are only a life estate holder you cannot refinance the property. A lender will grant a mortgage to the owner of the property only and the life estate holder must sign their consent. See related question link.
Where can I learn about refinance mortgage?
If you want any information about refinance mortgage try going to mortgageloans.com. If you need any other type of information call your local real estate firm.
How do you get a co-borrower off a mortgage?
You need to pay off the mortgage and refinance in your own name if you are the sole owner of the real estate.
Which banks offer good assistance as to how to refinance mortgages?
Banks that offer refinance mortgage assistance will provide the best education about mortgage refinancing. Real estate agencies can also assist in locating the best banks to contact about refinancing a mortgage.
What exactly is a refinance real estate loan?
A refinance real estate loan, is a mortage loan that is refinanced with new terms that may include different interest rates, variable or fixed rates, and length of mortgage.
My husband is on the deed we are both on the mortgage and he has died. Am I responsible for the debt?
If the mortgage isn't paid the lender will take possession of the property by foreclosure. If you signed the mortgage then you are responsible for paying the debt on your husband's property. You need to consult with an attorney about having your husband's estate probated. If you're not on the deed the property is part of his estate and his estate must be probated in order for title to pass to his heirs.If the mortgage isn't paid the lender will take possession of the property by foreclosure. If you signed the mortgage then you are responsible for paying the debt on your husband's property. You need to consult with an attorney about having your husband's estate probated. If you're not on the deed the property is part of his estate and his estate must be probated in order for title to pass to his heirs.If the mortgage isn't paid the lender will take possession of the property by foreclosure. If you signed the mortgage then you are responsible for paying the debt on your husband's property. You need to consult with an attorney about having your husband's estate probated. If you're not on the deed the property is part of his estate and his estate must be probated in order for title to pass to his heirs.If the mortgage isn't paid the lender will take possession of the property by foreclosure. If you signed the mortgage then you are responsible for paying the debt on your husband's property. You need to consult with an attorney about having your husband's estate probated. If you're not on the deed the property is part of his estate and his estate must be probated in order for title to pass to his heirs.
Can you refinance a mobile home that is consider real property if it has never been titiled?
You cannot refinance something that did not have a mortgage to begin with. A bank will not work with non titled real estate.
How can one refinance real estate?
A person can refinance real estate by making an appointment with a mortgage broker, or a loan expert from a bank. Before refinancing, take some things into consideration such as the total cost, the tax, monthly, and net savings.
Your mother is a life estate tenant can you refinance without her signing any papers?
No. Your mother would need to consent to the mortgage by signing it. The lender will discover her interest when it has the title checked and will insist that she signs the mortgage.
If someone is the executor of estate and wants to do a modification on a loan they are not on is that an option?
The decision to allow the executor to modify an existing mortgage is up to the lender. The executor could refinance the property with a new mortgage if allowed by the court.
Grandma died and she has a reverse mortgage what happens next?
When a homeowner with a reverse mortgage passes away, the loan typically becomes due. The heirs or estate of the deceased have the option to repay the loan and keep the property, sell the property to pay off the loan, or walk away from the property if the loan balance is greater than the home's value. It's important to contact the loan servicer to discuss the next steps and potential options.
