No. As long as the payments are sent on time the bank can't take the property. You should consult with an attorney who specializes in probate. If your mother was the sole owner of the property then her estate must be probated in order for title to pass to her heirs legally. If she left a will you should take it with you when you see the attorney.
No. As long as the payments are sent on time the bank can't take the property. You should consult with an attorney who specializes in probate. If your mother was the sole owner of the property then her estate must be probated in order for title to pass to her heirs legally. If she left a will you should take it with you when you see the attorney.
No. As long as the payments are sent on time the bank can't take the property. You should consult with an attorney who specializes in probate. If your mother was the sole owner of the property then her estate must be probated in order for title to pass to her heirs legally. If she left a will you should take it with you when you see the attorney.
No. As long as the payments are sent on time the bank can't take the property. You should consult with an attorney who specializes in probate. If your mother was the sole owner of the property then her estate must be probated in order for title to pass to her heirs legally. If she left a will you should take it with you when you see the attorney.
No. As long as the payments are sent on time the bank can't take the property. You should consult with an attorney who specializes in probate. If your mother was the sole owner of the property then her estate must be probated in order for title to pass to her heirs legally. If she left a will you should take it with you when you see the attorney.
You should be able to enter into a home equity loan, provided that you have sufficient equity in your home. If you own it free and clear, then you should have 100% equity. If this is true, then it should be a no-brainer for any bank, depending on your credit history. The best thing to do is contact your bank, or any local or national bank. Tell them you want a home equity loan. The bank will order an appraisal, which determines the value of the home. Let's pretend the appraisal comes in at $1,000,000; if you own 100% of the house and have no other loans which use the house as collateral, then you will have 100% equity in the house, or $1,000,000 in equity. Depending on the bank, you'll be able to access all or a portion of the equity. When you and the bank agree on the amount of equity (which in addition to your credit score will drive your interest rate), then you close on the loan, the bank forks over the cash, and you start making monthly payments. Equity loans are usually lines of credit, meaning you don't have to draw on the loan all at once, but can use it over time, like a credit card. I would not advise doing this at all; however, if you need the funds immediately, an equity line is a good way to turn your house into cash. Just be sure that you can repay the loan, or you'll end up owing the bank when you sell your house!
Currently the Bank of America doesn't offer home equity release schemes, but rather home equity loans. When taking out a home equity loan, one must be conscious about making the payments on time or risk a foreclosure on the home.
Credit Line payments are payments that you make monthly on a line of credit that you have with your local bank. Many line of credits are based on the equity in your home, but they usually charge much lower rates than a traditional bank loan.
Equity release schemes are also called lifetime mortgages or reverse mortgages. They allow someone to take money out of the equity paid into their house and the house goes to the bank when they die.
Equity Bank's population is 5,200.
Sell the house and cash in.
You should be able to enter into a home equity loan, provided that you have sufficient equity in your home. If you own it free and clear, then you should have 100% equity. If this is true, then it should be a no-brainer for any bank, depending on your credit history. The best thing to do is contact your bank, or any local or national bank. Tell them you want a home equity loan. The bank will order an appraisal, which determines the value of the home. Let's pretend the appraisal comes in at $1,000,000; if you own 100% of the house and have no other loans which use the house as collateral, then you will have 100% equity in the house, or $1,000,000 in equity. Depending on the bank, you'll be able to access all or a portion of the equity. When you and the bank agree on the amount of equity (which in addition to your credit score will drive your interest rate), then you close on the loan, the bank forks over the cash, and you start making monthly payments. Equity loans are usually lines of credit, meaning you don't have to draw on the loan all at once, but can use it over time, like a credit card. I would not advise doing this at all; however, if you need the funds immediately, an equity line is a good way to turn your house into cash. Just be sure that you can repay the loan, or you'll end up owing the bank when you sell your house!
Currently the Bank of America doesn't offer home equity release schemes, but rather home equity loans. When taking out a home equity loan, one must be conscious about making the payments on time or risk a foreclosure on the home.
Credit Line payments are payments that you make monthly on a line of credit that you have with your local bank. Many line of credits are based on the equity in your home, but they usually charge much lower rates than a traditional bank loan.
The best place to start is going to the bank that holds the mortgage to your house and talking to a loan specialist. They go by the worth of your house versus how much you still owe. They use these figures to determine how much equity you have in the house. Aside from that they run extensive credit checks to ensure that you will pay your loan payments on time and in full.
Equity release schemes are also called lifetime mortgages or reverse mortgages. They allow someone to take money out of the equity paid into their house and the house goes to the bank when they die.
Equity Bank's population is 5,200.
Sad fact is the less you owe on the home the more likely you will lose it. If you have little equity then no one but the bank would get anything out of auctioning it off and as long as you are making the payments the bank would rather you stayed there and paid them back. On the other hand if you have a lot of equity in the home then other creditors will ask the court to place it up for auction so they can get what ever is left after the bank is paid back. Good news for you is that house values are dropping fast and that loss comes right out of your equity. Hope all works out for you.
NO. They can't take what you don't have.
If you default on the loan, yes.
Equity Bank's population is 5,200.
Equity Bank was created in 1984.