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What else can I help you with?
Do you have to inform your mortgage company if you change jobs?
Yes, it is generally recommended to inform your mortgage company if you change jobs, as it can affect your financial situation and ability to make mortgage payments.
What type of letter should be sent to a mortgage company when your partner agrees on you coming off the mortgage?
First you need to understand that a mortgage company will not normally let one party to a joint mortgage contract off the mortgage. You and your partner can not agree to change the mortgage between you, your contract is with the Mortgage company, NOT YOUR PARTNER.It is not in the Mortgage companies interest to allow a change to an existing mortgage as you are BOTH liable for the payments - if one of you stops paying they will go after the other for all the money.To get out of the situation you have to repay all the money you borrowed and get a new mortgage in just one of your names. This usually means one or other partner has to buy the other out.
Can you change the names on a mortgage loan?
Not without refinancing the existing loan and changing the names on the title to the property..
Would a mortgage company change your homeowners insurance to their name if they were not going to approve your loan?
No.
Can the pre-approval amount change during the mortgage process?
Yes, the pre-approval amount can change during the mortgage process based on factors such as changes in your financial situation, the property appraisal, or updated information provided to the lender.
Do you have to inform your mortgage company if you change jobs?
Yes, it is generally recommended to inform your mortgage company if you change jobs, as it can affect your financial situation and ability to make mortgage payments.
Do you have claim to a house if your name is on deed but you are not married?
You have asked a complicated question. Many people execute a quitclaim deed to a partner or spouse after they have purchased and mortgaged their property. If that is the case, the original owner should notify the bank of the change in ownership and the bank may require the new co-owner to sign a consent to the mortgage. If the bank isn't notified, you acquired an interest in the property subject to the mortgage and the mortgagor has breached their mortgage agreement with the bank. The bank can demand immediate payment of the balance due on the mortgage and can take possession of the property if the mortgage isn't paid. Another possibility is that if the mortgage is paid on time and the bank does find out about the transfer to you and notify the mortgagor that they have breached the agreement then you own a half interest in the property. On the other hand, if two people own property by deed and only one granted a mortgage, the bank has only a half interest in the property. If the mortgage is foreclosed the bank will acquire only a half interest in the property.
Can you change a mortgage to your mother's name?
Consult a lawyer on this. You can sell a property to your mother.
Does a quit deed relieve you of financial responsibility on a mortgage?
No, a quit claim deed only changes ownership of the property. The property will still remain collateral for the mortgage loan. The actual ownership of the property does not change the terms of the mortgage loan and the promise the signatories (you) made to the bank.
Can you change the names on a mortgage loan?
Not without refinancing the existing loan and changing the names on the title to the property..
What is the cost to add a spouse to your mortgage?
A spouse is not added to a mortgage; if the spouse already owns an interest in the property through deed or community property, then the spouse is subject to the mortgage, regardless of whether or not he or she signed it. Note, however, that many mortgages contain "due on sale" clauses which require the mortgage to be refinanced if there is a change in ownership of the property. Contact your bank to see if your loan contains such a clause.
What type of letter should be sent to a mortgage company when your partner agrees on you coming off the mortgage?
First you need to understand that a mortgage company will not normally let one party to a joint mortgage contract off the mortgage. You and your partner can not agree to change the mortgage between you, your contract is with the Mortgage company, NOT YOUR PARTNER.It is not in the Mortgage companies interest to allow a change to an existing mortgage as you are BOTH liable for the payments - if one of you stops paying they will go after the other for all the money.To get out of the situation you have to repay all the money you borrowed and get a new mortgage in just one of your names. This usually means one or other partner has to buy the other out.
Would a mortgage company change your homeowners insurance to their name if they were not going to approve your loan?
No.
Can the pre-approval amount change during the mortgage process?
Yes, the pre-approval amount can change during the mortgage process based on factors such as changes in your financial situation, the property appraisal, or updated information provided to the lender.
Does the terms or the percentages change when canceling Freddie Mac private mortgage insurance on a single family home or a non owner occupied investment property?
NO.. It will not affect your mortgage interest rate.
Why did my mortgage payment go down?
Your mortgage payment may have gone down due to a decrease in interest rates, a change in your loan terms, or a reduction in property taxes or insurance costs.
What does amended the mortgagee clause mean?
It means your mortgage company/loan ownership has changed. Your loan may have been sold and now the entity holding the lien on your property's "legal name" has changed. Or, your original mortgage company may have merged or been bought out -hence the entity's legal name change.
