Yes. The money must be paid back to the lender. If not paid back then lender can take possession of the real estate and sell it.
the amount of money you have borrowed from the bank which you must pay back over 25+ years.
A mortgage company provides loans so people can buy real estate or a home. The company is the intermediate between the lender (government or bank) and the person receiving the money. The person who receives the money must pay it back over a certain period of time with interest. (The interest is where the company makes its profit.)
People get mortgages because most people do not have enough money to purchase a home. They must borrow most of that money from a bank. To get approved for a mortgage the borrower must have a good credit history, have been employed for a substantial period of time, have some savings and have no large debts
Your trustee is the only person who can advise you. However, it has been my experience (mortgage lending) that you must first obtain the trustee's permission to refinance and I believe the full amount is always due to the mortgage company.
You cannot sever a joint mortgage. It must be paid off.You cannot sever a joint mortgage. It must be paid off.You cannot sever a joint mortgage. It must be paid off.You cannot sever a joint mortgage. It must be paid off.
the amount of money you have borrowed from the bank which you must pay back over 25+ years.
The money must eventually get to the mortgage holder. I am not sure what you want to know.
Not necessarily. That must be in the arrangements made when you apply for the loan. Some people refinance to pay off the first mortgage. Some people take out second or third mortgages to get more money for personal use or home improvements.Not necessarily. That must be in the arrangements made when you apply for the loan. Some people refinance to pay off the first mortgage. Some people take out second or third mortgages to get more money for personal use or home improvements.Not necessarily. That must be in the arrangements made when you apply for the loan. Some people refinance to pay off the first mortgage. Some people take out second or third mortgages to get more money for personal use or home improvements.Not necessarily. That must be in the arrangements made when you apply for the loan. Some people refinance to pay off the first mortgage. Some people take out second or third mortgages to get more money for personal use or home improvements.
A mortgage company provides loans so people can buy real estate or a home. The company is the intermediate between the lender (government or bank) and the person receiving the money. The person who receives the money must pay it back over a certain period of time with interest. (The interest is where the company makes its profit.)
People get mortgages because most people do not have enough money to purchase a home. They must borrow most of that money from a bank. To get approved for a mortgage the borrower must have a good credit history, have been employed for a substantial period of time, have some savings and have no large debts
No. Generally, you must own the real estate in order to obtain a mortgage. You must be able to convey the title to the bank for the life of the mortgage. In certain situations a bank may loan money on a leashold interest, however, the leasehold interest must be of sufficient value for the bank to take the risk of loaning money to the leaseholder.
Your trustee is the only person who can advise you. However, it has been my experience (mortgage lending) that you must first obtain the trustee's permission to refinance and I believe the full amount is always due to the mortgage company.
To get a mortgage one must be able to prove that they are able to meet the monthly payments and pay back the mortgage. One must prove their income and tax returns, pass a credit check loan qualification procedure.
Your mortgage must be paid unless you have arranged for some type of mortgage insurance.Your mortgage must be paid unless you have arranged for some type of mortgage insurance.Your mortgage must be paid unless you have arranged for some type of mortgage insurance.Your mortgage must be paid unless you have arranged for some type of mortgage insurance.
The estate of the person who granted the mortgage is responsible for paying the mortgage. If there is no money in the estate to pay the mortgage the lender will take possession by foreclosure. However, if the beneficiaries and heirs desire to keep the property the mortgage must be paid or the lender will take possession of the property by foreclosure. You should consult with the attorney who is handling the estate.The estate of the person who granted the mortgage is responsible for paying the mortgage. If there is no money in the estate to pay the mortgage the lender will take possession by foreclosure. However, if the beneficiaries and heirs desire to keep the property the mortgage must be paid or the lender will take possession of the property by foreclosure. You should consult with the attorney who is handling the estate.The estate of the person who granted the mortgage is responsible for paying the mortgage. If there is no money in the estate to pay the mortgage the lender will take possession by foreclosure. However, if the beneficiaries and heirs desire to keep the property the mortgage must be paid or the lender will take possession of the property by foreclosure. You should consult with the attorney who is handling the estate.The estate of the person who granted the mortgage is responsible for paying the mortgage. If there is no money in the estate to pay the mortgage the lender will take possession by foreclosure. However, if the beneficiaries and heirs desire to keep the property the mortgage must be paid or the lender will take possession of the property by foreclosure. You should consult with the attorney who is handling the estate.
First time home buyers are often given a bit of a break on the amount of down payment that is required. They are also able to withdraw investments for down payment purposes. The funds withdrawn must be put back or taxes must be paid on the money.
You cannot sever a joint mortgage. It must be paid off.You cannot sever a joint mortgage. It must be paid off.You cannot sever a joint mortgage. It must be paid off.You cannot sever a joint mortgage. It must be paid off.