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fixed-rate mortgage
A mortgage with fixed payments is a loan that has a fixed interest rate and a fixed repayment term. The payments for this type of mortgage remain the same throughout the life of the loan. The main advantage of a mortgage with fixed payments is that you can budget more easily because you know exactly how much you need to pay each month. However, these loans usually have higher interest rates than adjustable-rate mortgages, which means you may end up paying more in the long run. My recommendation: π π π½πππ π://πππ.πΉπΎππΎπππ©πππ€π¦.πΈππ/πππΉπΎπ/π₯π©π€π§π©π¨/π°πππβ‘πππππππ/ π π
No. The co-signer is fully responsible for paying that mortgage for the life of the mortgage. The bank owns the mortgage and the reasons why the primary borrower needed a co-signer is the reason why the bank wanted another person to promise to pay. It will remain on your credit record as an unpaid mortgage until it is paid off. If the primary borrower fails to make payments the bank will go after the co-signer to pay. It is your debt.No. The co-signer is fully responsible for paying that mortgage for the life of the mortgage. The bank owns the mortgage and the reasons why the primary borrower needed a co-signer is the reason why the bank wanted another person to promise to pay. It will remain on your credit record as an unpaid mortgage until it is paid off. If the primary borrower fails to make payments the bank will go after the co-signer to pay. It is your debt.No. The co-signer is fully responsible for paying that mortgage for the life of the mortgage. The bank owns the mortgage and the reasons why the primary borrower needed a co-signer is the reason why the bank wanted another person to promise to pay. It will remain on your credit record as an unpaid mortgage until it is paid off. If the primary borrower fails to make payments the bank will go after the co-signer to pay. It is your debt.No. The co-signer is fully responsible for paying that mortgage for the life of the mortgage. The bank owns the mortgage and the reasons why the primary borrower needed a co-signer is the reason why the bank wanted another person to promise to pay. It will remain on your credit record as an unpaid mortgage until it is paid off. If the primary borrower fails to make payments the bank will go after the co-signer to pay. It is your debt.
Only with the OK of the lender.Once a mortgage has been signed it will remain in effect until it is paid. The bank required a co-signer in order to guarantee that mortgage would be paid if the primary borrower defaults on the payments. The co-signer remains responsible for the mortgage until it is paid off. In order to get your name off a mortgage you co-signed the mortgage would need to be paid off and refinanced in the sole name of the primary borrower.
Your name cannot be taken off a mortgage because the mortgage is owned by the lender. You remain responsible for the mortgage until it is paid off or refinanced without you.
fixed-rate mortgage
fixed-rate mortgage
A mortgage with fixed payments is a loan that has a fixed interest rate and a fixed repayment term. The payments for this type of mortgage remain the same throughout the life of the loan. The main advantage of a mortgage with fixed payments is that you can budget more easily because you know exactly how much you need to pay each month. However, these loans usually have higher interest rates than adjustable-rate mortgages, which means you may end up paying more in the long run. My recommendation: π π π½πππ π://πππ.πΉπΎππΎπππ©πππ€π¦.πΈππ/πππΉπΎπ/π₯π©π€π§π©π¨/π°πππβ‘πππππππ/ π π
Generally, the mortgage should have been executed by both owners. The property would remain subject to the mortgage and the survivor would need to continue making the payments. Owners in a situation where two salaries are needed to make mortgage payments should consider life insurance to cover the amount of the mortgage.Generally, the mortgage should have been executed by both owners. The property would remain subject to the mortgage and the survivor would need to continue making the payments. Owners in a situation where two salaries are needed to make mortgage payments should consider life insurance to cover the amount of the mortgage.Generally, the mortgage should have been executed by both owners. The property would remain subject to the mortgage and the survivor would need to continue making the payments. Owners in a situation where two salaries are needed to make mortgage payments should consider life insurance to cover the amount of the mortgage.Generally, the mortgage should have been executed by both owners. The property would remain subject to the mortgage and the survivor would need to continue making the payments. Owners in a situation where two salaries are needed to make mortgage payments should consider life insurance to cover the amount of the mortgage.
No. The co-signer is fully responsible for paying that mortgage for the life of the mortgage. The bank owns the mortgage and the reasons why the primary borrower needed a co-signer is the reason why the bank wanted another person to promise to pay. It will remain on your credit record as an unpaid mortgage until it is paid off. If the primary borrower fails to make payments the bank will go after the co-signer to pay. It is your debt.No. The co-signer is fully responsible for paying that mortgage for the life of the mortgage. The bank owns the mortgage and the reasons why the primary borrower needed a co-signer is the reason why the bank wanted another person to promise to pay. It will remain on your credit record as an unpaid mortgage until it is paid off. If the primary borrower fails to make payments the bank will go after the co-signer to pay. It is your debt.No. The co-signer is fully responsible for paying that mortgage for the life of the mortgage. The bank owns the mortgage and the reasons why the primary borrower needed a co-signer is the reason why the bank wanted another person to promise to pay. It will remain on your credit record as an unpaid mortgage until it is paid off. If the primary borrower fails to make payments the bank will go after the co-signer to pay. It is your debt.No. The co-signer is fully responsible for paying that mortgage for the life of the mortgage. The bank owns the mortgage and the reasons why the primary borrower needed a co-signer is the reason why the bank wanted another person to promise to pay. It will remain on your credit record as an unpaid mortgage until it is paid off. If the primary borrower fails to make payments the bank will go after the co-signer to pay. It is your debt.
Only with the OK of the lender.Once a mortgage has been signed it will remain in effect until it is paid. The bank required a co-signer in order to guarantee that mortgage would be paid if the primary borrower defaults on the payments. The co-signer remains responsible for the mortgage until it is paid off. In order to get your name off a mortgage you co-signed the mortgage would need to be paid off and refinanced in the sole name of the primary borrower.
Payments in the last 12 months are reported on your credit report. The BK 7 and the previously late payments will continue to show on your credit report, but eventually your ontime payments will be the ones showing. You may be able to get a statement that the house was redeemed in the bankrupcy, but all late notices for the past 12 months and/or a notice of foreclosure will remain.
Yes, your obligation under the promissory note will be discharged, however, the security interest will remain. This means the lender can still foreclose on the property if payments are not made. If you plan to surrender the property to the lender, then this isn't an issue.
Your name cannot be taken off a mortgage because the mortgage is owned by the lender. You remain responsible for the mortgage until it is paid off or refinanced without you.
Possibly. You need to carefully read your mortgage documents to determine if there is a clause that the property must remain owner occupied.Possibly. You need to carefully read your mortgage documents to determine if there is a clause that the property must remain owner occupied.Possibly. You need to carefully read your mortgage documents to determine if there is a clause that the property must remain owner occupied.Possibly. You need to carefully read your mortgage documents to determine if there is a clause that the property must remain owner occupied.
It depends....the 2nd mortgage holder can buy out your first mortgage and then foreclose on the entire property , the chances are higher of this happening is the 2nd mortgage is kinda large or if they are held by the same lender. If the 2nd mortgage holder decides not to buy the first mortgage out then typically nothing with happen because the first mortgage holder is in control. The 2nd mortgage cannot foreclose on the first mortgage so keep the first mortgage payments current.If the 2nd does not buyout the first then the lien with remain on the property and you will be require to pay it off if you sell or refinance the property down the road.Mortgage loan officer PAIn Texas the law is: http://www.avvo.com/legal-answers/tx-foreclosure-second-trust-deed-4498.html
Remortgaging is taking out a new mortgage to replace an existing mortgage with the potential to consolidate debt and reduce payments. The least expensive way to remortgage ones debt is to negotiate with ones current lender for a new mortgage with a lower interest rate, consolidating ones debt at the same time. By extending the length of the mortgage, the monthly payment may be reduced. The alternative is to seek a new mortgage from a different lender and pay off the existing lender. The goals of debt consolidation and reduced monthly payment remain the same.