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What else can I help you with?
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 exactly is an re mortgage?
Re-mortgage is another word for refinance. By re-mortgaging your home loan, you might be able to secure a better interest rate, saving money in the long run.
Can you re-finance your reverse mortgage?
yes, you can refinance it to a regular mortgage, or if interest rates are lower you can streamline it to a new reverse mortgage.
Is my house considered an asset even if I have a mortgage on it?
Yes, your house is considered an asset even if you have a mortgage on it. The value of the house minus the amount owed on the mortgage is the equity you have in the property, which is an asset.
Is this a good time to re mortgage a house?
Now is a great time to re mortgage your house or any other mortgageable item! You also may be able to bundle your mortgages together and save even more.
What is the definition of 'senior mortgage'?
A 'senior mortgage' is the first mortgage placed on a property. If one re-mortgages one's house, then that becomes known as a 'junior mortgage'. Payment of a senior mortgage always takes precedence over payment of a junior mortgage.
Your credit report show your second mortgage being included in your bankruptcy you never re-affirmed the second mortgage do you still have to pay it?
Never get a second mortgage --- only if you want to keep your house. 2nd mortgagees can foreclose on you
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 exactly is an re mortgage?
Re-mortgage is another word for refinance. By re-mortgaging your home loan, you might be able to secure a better interest rate, saving money in the long run.
What is the difference between a construction mortgage loan and a normal mortgage loan?
A normal mortgage is borrowing money to buy a house. A construction mortgage is when you own a house and borrow money against the house for repairs or renovations.
Can you re-finance your reverse mortgage?
yes, you can refinance it to a regular mortgage, or if interest rates are lower you can streamline it to a new reverse mortgage.
Is my house considered an asset even if I have a mortgage on it?
Yes, your house is considered an asset even if you have a mortgage on it. The value of the house minus the amount owed on the mortgage is the equity you have in the property, which is an asset.
If husband took a mortgage on his home to buy daughter's home before he re-married will wife be held liable to pay this debt by selling the house in case of his death with or minus a will?
no, the only one responsible for payment is the name on the note, not the mortgage.
How do you buy a second house and get a 2nd residential mortgage when you already have a mortgage on your first house?
Sexytime with banker.
Do you still owe the house when you enter to reverse mortgage?
You still own the house if you have a reverse mortgage, yes.
