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In what state is First Option Mortgage located?
First Option Mortgage has it's head office in the state of Georgia. The office is located in Atlanta. The company is licensed in 42 states, and has branches across the United States.
What type of services does First Option Mortgage offer its patrons?
First Option Mortgage is a mortgage lending company which offers many services to its patrons. Some of the services which First Option Mortgage offers are mortgage loans and mortgage calculators.
What exactly is a first option mortgage?
First option mortgage is a mortgage lending company offering numerous mortgage lending and financing products to meet diverse customer needs, financial situations, and long-term objectives.
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Follow up answer but the mortgage states it is a first mortgage while we know for sure that the property already had a morgtage by our dead mother?
Just because the mortage says it is the first mortgage doesn't necessarily mean it is. The time of filing at the court house will determine which is the first mortgage and which is sub-ordinant.
How can one refinance one's FHA loans?
The best and fastest way to refinance an FHA loan is to first discuss the option with the mortgage company. They can determine if refinancing is then an option.
How do you get a 2nd mortgage discharged and keep your house?
You don't. A second mortgage is a secured loan, just as the first morgage. The difference is the first mortgage holder has priority if it involves a lien against the property or foreclosure rights. The only option is to try to negotiate with the lender for reaffirmation of the loan
What is a good reason for refinancing mortgage?
Mortgage refinancing can become a good option when you are facing foreclosure. Of course you have to make sure that you consult your realtor or lender first before doing any actions in relation to your mortgage refinancing plans.
When did women first get the right ti have a mortgage?
In the United States women have had the power to mortgage property as early as the late 1700s in New England.
Where can people get more information on first option mortgages?
"First Option Mortgage is a company based in Dublin, OH and can be reached in multiple ways. They have a secure messaging system on their website as well as a toll-free telephone number."
What happens to the first mortgage when the second mortgage forecloses?
AnswerThe first mortgage would have the first position on the lien. So if the second mortgage company foreclosed on the property - they would sell the property and the sale proceeds must go to pay off the first mortgage company first. Then, if there is anything left over, that money goes to the second mortgage company.For example, there is a first mortgage of 100,000 and a second mortgage of 40,000. The property is foreclosed and sold for 125,000. The first mortgage gets paid off (100,000) and the second mortgage company gets the remaining 25,000.The property owner still owes the second mortgage company the other 15,000.--------------------------------------------------------------------------------------------------------------Not true. Maybe different laws in different states but here the 2nd mortgage foreclosure sale does not directly effect the 1st mortgage. It remains a lien.
Can a second mortgage foreclose without letting the first mortgage know?
The only way would be for the 2nd mortgage holder to "buy out" or "pay off" the 1st mortgage holder. Even then, I believe most states require that the 1st mortgage holder receive notification.
