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The lender is not going to allow that. They may allow you to replace one mortage with another. But the mortgage is tied to a specific piece of real estate.
What else can I help you with?
Is it possible to carry a mortgage from one house to another?
No, it is not possible to transfer a mortgage. It is specific to a piece of property. But most lenders will work with you to create a new one for the new property with the resolution of the previous one.
What is a property conveyance?
In law, a property conveyance is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or an easement right in land.In law, a property conveyance is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or an easement right in land.In law, a property conveyance is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or an easement right in land.In law, a property conveyance is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or an easement right in land.
What is an ach transfer?
ACH stands for automatic clearing house but it is an electronic funds transfer from one bank to another
Where can one transfer your mortgage leads?
Various broker websites including Brokermatch, Live Lead Network, Lava Leads, US Mortgage Leads, and Mortgage Leads Direct allow for live transfer of mortgage leads.
How can one buy a house with no mortgage?
One can buy a house with no mortgage if they are wealthy individuals who do not need loans to pay off a house. They usually pay the full amount of a house in cash.
How can you transfer your mortgage to a friend?
You cannot transfer your mortgage to your friend. The lender owns the mortgage. You must discuss the situation with your lender to determine if it will allow your friend to assume the mortgage obligation. If so then you can convey the property to your friend by deed and the lender will execute an assumption agreement with the new owner.Mortgages have a due on transfer clause. That means if you transfer the property to a new owner the full amount of the mortgage will become due immediately as you agreed when you signed the mortgage. You will be the one responsible for paying and not the new owner. Remember that the person you transfer the property to did not apply for the mortgage and was not approved by the lender.
Is there a penalty to pay if you sale your home after a loan modification?
If you transfer the ownership of the property the lender has the right to demand immediate payment in full of the mortgage and it will. That is one of the provisions included in the mortgage contract that you signed. It is called a due on transfer clause. A sale of the property will constitute a breach of the agreement.If you transfer the ownership of the property the lender has the right to demand immediate payment in full of the mortgage and it will. That is one of the provisions included in the mortgage contract that you signed. It is called a due on transfer clause. A sale of the property will constitute a breach of the agreement.If you transfer the ownership of the property the lender has the right to demand immediate payment in full of the mortgage and it will. That is one of the provisions included in the mortgage contract that you signed. It is called a due on transfer clause. A sale of the property will constitute a breach of the agreement.If you transfer the ownership of the property the lender has the right to demand immediate payment in full of the mortgage and it will. That is one of the provisions included in the mortgage contract that you signed. It is called a due on transfer clause. A sale of the property will constitute a breach of the agreement.
How do you do a bridge loan when there is no mortgage on one house?
How do you do bridge loan when there is no mortage on one house?
Where can one get a quote for house and contents insurance in Seattle?
Zillow Mortgage Marketplace is one of the many places in Seattle that offers quotes for house and insurance. Another place is a website called BrainQuote.
Can you transfer a mortgage to another property if one party is now bankrupt?
No. The lender owns the mortgage. You can't make any changes.No. The lender owns the mortgage. You can't make any changes.No. The lender owns the mortgage. You can't make any changes.No. The lender owns the mortgage. You can't make any changes.
What is the purpose of mortgage loans?
A mortgage loan is obtained when one is purchasing a house. In return for using the value of the house as collateral, a mortgage company will provide a loan for the remaining balance.
What are the typical closing costs for a mortgage?
The amount used to buy your house is one thing; The fees required to close that transaction is another thing altogether, and they amount from 3 to 5 percent of the overall mortgage
