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What happens if you go for a mortgage and don't tell them you already have a mortgage?
Wiki User
∙ 13y ago
The lender will have the title to the property examined to disclose any outstanding encumbrances. It does not rely on your honesty on the loan application. They will then contact you to say, "Mr. Jones, you have a mortgage on your property that you failed to note on your application. Your application is denied since you have much less equity in your home than first claimed and you lied on your application."
Wiki User
∙ 13y ago
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What happens when you back out of a pre-approved mortgage?
The only thing that happens when you back out of a pre-approved loan is that you those any application fees that you have already given them. Don't let the broker or lender tell you otherwise.
What if you paid already?
tell 'em and dont pay again
How can one use the BBC mortgage calculator?
To use a mortgage calculator, you type in the length of your mortgage, the amount of principal that you owe, and your mortgage rate. It will then tell you what your payments will be.
What is the statute of limitations on second mortgage in CA?
A second mortgage is not included in a Statue of Limitation law. Explain more about your first mortgage, and I will be able to tell you what will happen to your second mortgage.
Where can one find a rbc mortgage calculator?
The RBC mortgage calculator can be found on their website. The calculator will tell you how much your monthly mortgage payments will be. You can also go to your local RBC branch and speak with a mortgage broker.
What happens when you back out of a pre-approved mortgage?
The only thing that happens when you back out of a pre-approved loan is that you those any application fees that you have already given them. Don't let the broker or lender tell you otherwise.
What if you paid already?
tell 'em and dont pay again
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