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What if sale of a house after a foreclosure doesn't cover the mortgage amount?
Then you still owe money to the bank.
How do you get out of a second mortgage when the house has been sold on a short sale?
How do you get out of a second mortgage when the house has been sold on a short sale?
What happens to my mortgage when I sell my house?
When you sell your house, you will need to pay off your existing mortgage using the proceeds from the sale. If the sale price is higher than the remaining balance on your mortgage, you will keep the extra money. If the sale price is lower, you will need to come up with the difference to fully pay off the mortgage.
Can you use your previous rental payments to pay towrad a down payment on a mortgage?
No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.
Do you have to pay mortgage if your house is for sale?
Yes, you are responsible for your mortgage payment until the day of closing the sale to a new owner of the house. Any remaining balance will be paid through the proceeds at closing.
In a judicial sale of a house are you still responsible for any mortgage left on the property or is that foregone with the sale?
no
Your house has bee sold at a sheriff sale the proceeds of the sale covered the first mortgage Are you still required to pay the second mortgage?
The second mortgagee can indeed go after you for payment.
What if sale of a house after a foreclosure doesn't cover the mortgage amount?
Then you still owe money to the bank.
How do you get out of a second mortgage when the house has been sold on a short sale?
How do you get out of a second mortgage when the house has been sold on a short sale?
What happens to my mortgage when I sell my house?
When you sell your house, you will need to pay off your existing mortgage using the proceeds from the sale. If the sale price is higher than the remaining balance on your mortgage, you will keep the extra money. If the sale price is lower, you will need to come up with the difference to fully pay off the mortgage.
Can you use your previous rental payments to pay towrad a down payment on a mortgage?
No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.
Do you have to pay mortgage if your house is for sale?
Yes, you are responsible for your mortgage payment until the day of closing the sale to a new owner of the house. Any remaining balance will be paid through the proceeds at closing.
Do you still have to make mortgage payments on a short sale?
Yes.
Does the next of kin have to pay off a mortgage when the borrower has deceased?
Whoever inherits the house would need to either pay off the mortgage or refinance the house to take ownership of the house. The debt is not paid--unless the deceased had mortgage insurance--and the lien is still due. Of course, the house could be put up for sale, but only if payments are current and not in foreclosure.
Can you sell a house with a fixed mortgage in place?
Yes, you can sell a house with a fixed mortgage in place. The buyer can either take over the existing mortgage or pay it off in full at the time of the sale.
Are you still liable for mortgage after foreclosure?
Only if the foreclosure is a court-ordered foreclosure.AnswerThe mortgage is extinguished by a foreclosure proceeding and sale but you may be liable for any deficiency and costs relating to the sale.
If your name is on the deed but not the mortgage who is responsible for the mortgage when the house is sold?
The mortgage will be paid off from the proceeds of the sale. The buyer's attorney will make certain the mortgage is paid off before the buyer takes title.
