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You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.
You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.
You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.
You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.
Wiki User
∙ 10y ago
Wiki User
∙ 10y agoYou would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.
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Can you tear down your home as long as you are paying the mortgage?
No you cant because part of your mortage is for the land value and part is for the value of the structure/house.
How do you tear down skyscrapers?
To tear down a skyscraper, crews strategically place explosives throughout the structure and "Blow it up".
Can neighbor tear down garage structure if on property their property line?
Under certain circumstances, yes.
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Azrael's Tear happened in 1996.
What is stitch n tear?
stitch and tear is a type of fabric structure used in textiles.
When was Tear the Signs Down created?
Tear the Signs Down was created in 2010.
When was Tear Down These Walls created?
Tear Down These Walls was created in 1987.
When did Tear Ring Saga happen?
Tear Ring Saga happened in 2001.
What demolish means in industry?
To tear down and remove. As in, "to tear down and remove a building".
When was Tear the World Down created?
Tear the World Down was created in 2009-10.
If you have a mortgage and you tear down the house you had when you got the loan do you have to have insurance until you have rebuild.?
If there is any type of structure on the land it will require insurance..but "raw land" does not require insurance. During to course of construction you will have to carry insurance on the property in case of fire or other hazards. Most lenders want the coverage to be equal to the amount of the loan balance.
How do you spell tair as in I am going to tair my shed down?
The verb is spelled tear. "I'm going to tear my shed down."The same verb is used if you tear paper, or tear your pants.
