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No you don't have to mortgage your house, however if you do mortgage it, you could invest the available cash into a Money Market Mutual fund and cut you monthly payments to almost nothing, or actually make a profit.

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13y ago

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Related Questions

Do you have to pay a mortgage on a house you own?

No, if you own a house outright with no mortgage, you do not have to pay a mortgage on it.


Can you demolish a house that still has a mortgage on it?

Yes, a house with a mortgage can be demolished, but the mortgage would still need to be paid off even if the house is destroyed.


What is the difference between a construction mortgage loan and a normal mortgage loan?

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Is my house considered an asset even if I have a mortgage on it?

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Can I tear down a house with a mortgage on it?

No, you cannot tear down a house with a mortgage on it without permission from the lender.


Who is responsible for a mortgage if the owner dies before its paid off and the house is left to her son in a will?

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Yes, you can demolish your house and rebuild even if you have a mortgage, but you will need to get permission from your mortgage lender and follow their guidelines for the construction process.