It all depends on the sells price of the house your looking at purchasing.
Yes, no matter what happens to the owner of your mortgage, you should always make your payments on time. A loan sale or servicing transfer does not mean you can skip a payment.
The primary mortgage lender holds the first mortgage. If his mortgage is not paid, he sells the property. He gets paid. You may have a second mortgage. If the second mortgage lender is not paid, he can sell the property. If he sells the property, the primary mortgage lender gets paid first, then the secondary lender gets paid.
A foreclosure occurs when a homeowner defaults on their mortgage payments, and the bank sells the house in order to get it money. The homeowner has the right to redeem the house before the sale, in most states.
Mortgage foreclosure is a process by which a person, who has a mortgage on land, legally sells that same land. A mortgage can be defined as a property loan.
Yes. You have to pay the second mortgage regardless of how much your home sells for. You borrowed the money, you pay it back.
That will depend on how much the bank gets when it sells the house. If they cover their mortgage and costs, the 2nd mortgage will be paid.
It all depends on the sells price of the house your looking at purchasing.
Yes, no matter what happens to the owner of your mortgage, you should always make your payments on time. A loan sale or servicing transfer does not mean you can skip a payment.
If the bank sells the house for more than you owe. First, if you owe any other mortgages they will get paid first. after all of the liens of your property have been paid, the borrower(you) receives the rest. example you owe 100,000 on mortgage 20,000 on equity line the house sells for 150,000 mortgage and equity line get paid off. and you receive the difference of 30,000 dollars
The primary mortgage lender holds the first mortgage. If his mortgage is not paid, he sells the property. He gets paid. You may have a second mortgage. If the second mortgage lender is not paid, he can sell the property. If he sells the property, the primary mortgage lender gets paid first, then the secondary lender gets paid.
A foreclosure occurs when a homeowner defaults on their mortgage payments, and the bank sells the house in order to get it money. The homeowner has the right to redeem the house before the sale, in most states.
Mortgage foreclosure is a process by which a person, who has a mortgage on land, legally sells that same land. A mortgage can be defined as a property loan.
Flagstar Bank sells it's troubled loans to NationStar LLC
Foreclosure is the legal process whereby a mortgage company takes your home back from you and sells it to recoup the money they loaned to you. if you intend not to foreclose it better file bankruptcy from the experts
You still owe the balance (the amount you owed minus the amount the lender sold the foreclosed home for).
Uncle Hammer sells his car