To move your mortgage to a new house, you can either transfer your existing mortgage to the new property or apply for a new mortgage on the new house. This process involves working with your current lender or a new lender to assess your financial situation and the value of the new property. You may need to meet certain criteria and provide documentation to complete the transfer or application.
Yes, you can port your mortgage to a new property if you decide to move, but it depends on your lender's policies and the terms of your mortgage agreement.
A first mortgage can move to second place by virtue of a subordination. The first mortgagee subordinates its lien to the new mortgage by a written instrument that is recorded in he land records. That way, the new mortgage takes priority as the senior lien.A first mortgage can move to second place by virtue of a subordination. The first mortgagee subordinates its lien to the new mortgage by a written instrument that is recorded in he land records. That way, the new mortgage takes priority as the senior lien.A first mortgage can move to second place by virtue of a subordination. The first mortgagee subordinates its lien to the new mortgage by a written instrument that is recorded in he land records. That way, the new mortgage takes priority as the senior lien.A first mortgage can move to second place by virtue of a subordination. The first mortgagee subordinates its lien to the new mortgage by a written instrument that is recorded in he land records. That way, the new mortgage takes priority as the senior lien.
The answer is when he dies the reverse mortgage company will settle up the loan, so you will have to either sell the house or refinance with a new mortgage.
Yes, it is possible to tear down and rebuild a house with a mortgage. This process is known as a construction loan, where the mortgage is used to finance the construction of the new home.
Yes, but the existing mortgage (and interest on bridge loan) will be a factor in the points and interest on the new mortgage, as the initial risk to the lender is higher.
Yes, you can port your mortgage to a new property if you decide to move, but it depends on your lender's policies and the terms of your mortgage agreement.
no
A first mortgage can move to second place by virtue of a subordination. The first mortgagee subordinates its lien to the new mortgage by a written instrument that is recorded in he land records. That way, the new mortgage takes priority as the senior lien.A first mortgage can move to second place by virtue of a subordination. The first mortgagee subordinates its lien to the new mortgage by a written instrument that is recorded in he land records. That way, the new mortgage takes priority as the senior lien.A first mortgage can move to second place by virtue of a subordination. The first mortgagee subordinates its lien to the new mortgage by a written instrument that is recorded in he land records. That way, the new mortgage takes priority as the senior lien.A first mortgage can move to second place by virtue of a subordination. The first mortgagee subordinates its lien to the new mortgage by a written instrument that is recorded in he land records. That way, the new mortgage takes priority as the senior lien.
The answer is when he dies the reverse mortgage company will settle up the loan, so you will have to either sell the house or refinance with a new mortgage.
Yes, it is possible to tear down and rebuild a house with a mortgage. This process is known as a construction loan, where the mortgage is used to finance the construction of the new home.
They now have a house with a mortgage on it. If they cannot, or do not wish to, pay the mortgage, they will have to sell the house, pay off the mortgage, and keep the remainder of the money. The mortgage holder may require you to get a new mortgage on the property, rather than assume the existing loan. You are essentially leaving them what ever value you own of the house.
Yes, but the existing mortgage (and interest on bridge loan) will be a factor in the points and interest on the new mortgage, as the initial risk to the lender is higher.
if the mortgage is in your name then keep paying it off. if the mortgage is in both names of you and your ex then contact the finantial institution for advise so you dont have trouble later down the track with your ex claiming half when the house is paid off.
No, if you own a house outright with no mortgage, you do not have to pay a mortgage on it.
United StatesGenerally, portability of mortgages is not a feature of US lending. You should check with your lender.CanadaIn Canada, you can move most mortgages - it's called 'Porting' the mortgage.
Sad....Because if you move in your new house you will miss your old house
One can find information about mortgage advisors on the 'Which Mortgage Advisors' website. They have help and advice for first time buys and those looking to move house.