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What if property is paid in full and there no mortgage Can HOA still put a lien for non payment of fees?
A lien can be placed upon any property if first, there is a judgment. You first have to have a judgment, where a debt is actually proven in a court of law, leaving a judgment. THen, if not satisfied, they certainly can lien your house. Anyone holding a judgment that is not satisfied can lien your house.
What else can I help you with?
What are the consequences of a late payment on my mortgage?
The consequences of a late payment on your mortgage may include late fees, a negative impact on your credit score, and potential risk of foreclosure if payments are consistently late.
What is the meaning of corporate advance on a mortgage?
A corporate advance on a mortgage is a payment for a service related expense that is owed by the borrower. These expenses may include such things as foreclosure expenses, attorney fees, and bankruptcy fees.
Can you transfer your current mortgage to another property?
Yes, it is possible to transfer your current mortgage to another property through a process called mortgage porting. This allows you to move your existing mortgage deal to a new property, but it is subject to approval from your lender and may involve certain conditions and fees.
What happens if one person stops paying their share of a joint mortgage?
If one person stops paying their share of a joint mortgage, the other person is still responsible for the full payment. Failure to make the payments can lead to late fees, damage to credit scores, and potential foreclosure on the property. It is important to communicate and find a solution to avoid financial consequences.
How can I go about porting my mortgage to a new property?
To port your mortgage to a new property, you will need to contact your current mortgage lender to discuss the process. They will assess your eligibility and the terms of the new property. If approved, they will transfer your existing mortgage to the new property, adjusting the terms as necessary. Be prepared for potential fees and paperwork during the porting process.
How can my house payments go up if my mortgage is fixed?
Even with a fixed mortgage rate, your house payments can increase due to changes in property taxes, homeowners insurance, or private mortgage insurance (PMI). These costs are often included in your monthly payment through an escrow account, and if they rise, your overall payment will too. Additionally, if you live in a community with homeowners association (HOA) fees, those can also increase over time.
How many credit score points do you lose on a late mortgage payment?
750 points plus late fees and other penalties plus all the fees etch.
How is a reverse mortgage satisfied?
When the person making the mortgage dies, the property goes to the lender. Alternatively, you could pay off the amount loaned (plus fees) under the mortgage and get the property back. Hope that helps!Check here for more details:http://www.talkrefinance.com/explain-reverse-mortgage
If you have no mortgage when buying house do you still pay closing costs?
If you are not getting a mortgage and purchasing a house as a "cash deal", you will still pay some closing costs, but none that are related to a mortgage or lender. You will pay for anything on the sales/purchase contract that you have agreed to pay for, which may include recording of documents, certain title-related fees, a survey of the property if you purchased one, and any buyer fees due to the attorney or title company that handles the closing.
If the purchase price for a house is 309900 what is the monthly payment if you put 20 down for a 30 year loan with a fixed rate of 6?
To calculate the monthly payment for a house priced at $309,900 with a 20% down payment and a 30-year fixed mortgage at a 6% interest rate, first determine the down payment amount, which is $61,980 ($309,900 x 0.20). This leaves a loan amount of $247,920 ($309,900 - $61,980). Using a mortgage calculator or formula, the monthly payment would be approximately $1,489. Note that this calculation does not include property taxes, insurance, or other fees.
What are reverse mortgage fees?
Reverse mortgage fees are expensive in the long run. Several homeowners have relied on reverse mortgages hoping to save their homes and still didn't succeed. Be sure to talk to your finance agent. A reverse mortgage does not fit the interest of every homeowner.
Can I port my mortgage to a new property?
Yes, it is possible to port your mortgage to a new property, but it depends on your lender's policies and the terms of your current mortgage agreement. You may need to meet certain criteria and pay any associated fees. It's best to contact your lender directly to discuss your options.
