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Should I refinance my mortgage with 5 years left on it?
Refinancing a mortgage with 5 years left can be beneficial if you can secure a lower interest rate or shorten the loan term. Consider the closing costs and how long you plan to stay in the home before deciding.
Is it a good idea to refinance your 1st mortgage to include you home equity loan if there are only 4 years left on the home equity loan?
It depends. You may not be able to refinance at all if you don't roll both loans in, as the second mortgage holder has to allow you to keep the second loan subordinate to the first. The math you want to do, or have done for you, is to see which option allows you to spend the least amount on interest. The lower interest rate on the new, larger, mortgage should save you more interest than you will spend on the current mortgages, even after you consider closing costs. Tom T. www.startwiththehouse.com
What is the average interest for lowest refinance mortgage rate?
The average interest for the lowest refinancing mortgage rate depends on the company and how long one has been paying the loan and the value of what is left. An example is one to four percent interest rate.
You signed off on the house during the divorce The loan is in both names The deed is in his name TX He refuses to refinance How do you get out from under the mortgage so that you can buy another home?
You have a serious problem. This matter should have been resolved at the time of the divorce. Your ex-husband should have been required to refinance the property to get your name off the mortgage in exchange for your signing your interest in the property over to him. All your bargaining power was present BEFORE the divorce was granted. Your leverage was your interest in the property. If you were represented by an attorney that attorney failed to protect your interests if this issue was left unaddressed and you should complain to your state board of bar overseers. Generally, when a divorce is granted, the parties declare that all matters between them have been addressed and they will have no further claims against each other. Unfortunately, you left yourself responsible for the mortgage on your ex-husband's property. If it goes into foreclosure your credit will be ruined. You need to consult with an attorney who can review your situation and discuss your options.
Mother passed away left you house House is now in your name Equity still in mothers name but you are paying Unable to refinance to get equity paid cuz of housing market cannot claim mortgae interes?
Speak to your attorney. They will be able to complete paperwork to allow the courts to have the property changed to your name. Your mortgage might still be in your mothers name until you are able to refinance or somehow have the mortgage company change the account info, but the house will be in your name with the county courts system.
Should I refinance my mortgage with 5 years left on it?
Refinancing a mortgage with 5 years left can be beneficial if you can secure a lower interest rate or shorten the loan term. Consider the closing costs and how long you plan to stay in the home before deciding.
How do you fill out quit claim deed when husband has left town and wants name off of mortgage and or title?
You cannot take your husband's name off the mortgage. You must refinance in your own name and pay off the prior mortgage. You should have a deed drafted by an attorney.
Is it a good idea to refinance your 1st mortgage to include you home equity loan if there are only 4 years left on the home equity loan?
It depends. You may not be able to refinance at all if you don't roll both loans in, as the second mortgage holder has to allow you to keep the second loan subordinate to the first. The math you want to do, or have done for you, is to see which option allows you to spend the least amount on interest. The lower interest rate on the new, larger, mortgage should save you more interest than you will spend on the current mortgages, even after you consider closing costs. Tom T. www.startwiththehouse.com
What is the average interest for lowest refinance mortgage rate?
The average interest for the lowest refinancing mortgage rate depends on the company and how long one has been paying the loan and the value of what is left. An example is one to four percent interest rate.
Can you refinance after forecloser?
After a foreclosure you no longer own your property. You have nothing left to refinance.
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?
The mortgage should be paid by the remaining estate. If there is not enough cash left to pay off the mortgage, the house can be sold and the mortgage paid at closing, or if the mortgage is assumable, the son may take on the mortgage as his own debt and keep the house.
You signed off on the house during the divorce The loan is in both names The deed is in his name TX He refuses to refinance How do you get out from under the mortgage so that you can buy another home?
You have a serious problem. This matter should have been resolved at the time of the divorce. Your ex-husband should have been required to refinance the property to get your name off the mortgage in exchange for your signing your interest in the property over to him. All your bargaining power was present BEFORE the divorce was granted. Your leverage was your interest in the property. If you were represented by an attorney that attorney failed to protect your interests if this issue was left unaddressed and you should complain to your state board of bar overseers. Generally, when a divorce is granted, the parties declare that all matters between them have been addressed and they will have no further claims against each other. Unfortunately, you left yourself responsible for the mortgage on your ex-husband's property. If it goes into foreclosure your credit will be ruined. You need to consult with an attorney who can review your situation and discuss your options.
Mother passed away left you house House is now in your name Equity still in mothers name but you are paying Unable to refinance to get equity paid cuz of housing market cannot claim mortgae interes?
Speak to your attorney. They will be able to complete paperwork to allow the courts to have the property changed to your name. Your mortgage might still be in your mothers name until you are able to refinance or somehow have the mortgage company change the account info, but the house will be in your name with the county courts system.
I have a 1st mortgage at 7.25 and a 2nd at 13.25. Can I combine both into one 15 year mortgage I have 19 years left on the 1st and 8 years left on the 2nd. Combined both=222,500. Home was asessed 4 years ago at 240,000. ?
If you have enough equity in your home and you have a good credit score, you should be able to refinance both mortgages into one 15 year mortgage. Plus you would probalby get a better rate too. However, you said that your home was assessed at 240K four years ago. Given the current real estate market, in most areas your home would probably be worth a whole lot less than 240K. If that's the case you might have difficulty getting a mortgage (especially if your home is now worth less than the amount you owe on it). Banks are being extra cautious about lending these days. However, every real estate market is different, so it may be possible that your home hasn't lost as much value. Plus, if you've done considerable improvements since the last time it was assessed that will change the situation too.
What should I do with my dead father's house he left a mortgage on the house?
Unless you were a co-signer or legally part of the purchase process on either the house or the mortgage, you have no legal responsibility to pay back the mortgage in part or in full. If the house with the mortgage was willed to you, I would consult your family lawyer for help.
If a person left a house in a will with a mortgage payment what happens with the mortgage?
The mortgage has to be resolved. Either it must be sold and the mortgage paid off, or the person inheriting obtains a replacement mortgage.
If your mother died and left no will does her house go to her daughters if she is divorced and never remarried and their is 3 more years of payments left on the house?
Will or no - upon her death, your mothers debts must be settled first from any estate proceeds. If you want to keep the house, you may want to talk to the mortgage lender and see if you can refinance so you can pay off the mortgage. Otherwise, you may have to sell the house or let it get repressed. When you go to probate over her estate, you'll get some answers from the court. You also should check with an attorney.AnswerGenerally, in the US, If your mother died intestate her property would pass to her children under the state laws of intestacy. Her estate must be probated in order for legal title to her real property to pass to her heirs-at-law. Since there is an outstanding mortgage the estate should be probated ASAP. Once the petition for Administration has been filed and the Administrator has been appointed the Administrator can negotiate with the bank about assuming the mortgage (under the guidance of the attorney who is handling the estate). You can check your state laws of intestacy at the related question link provided below. It is important to keep the mortgage payments current.
