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ANSWER:The Bank will give you 90 days to make the next payment on the house. If you don't, The house will go into Foreclosure. And you'll be forced to leave. But, ya, the Bank will give you 90 Days.
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∙ 12y ago
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Can you refinance mortgage if you do not live in a house?
I dont think a bank would finance ANYone that didnt have a house , its hard to make the mortgage when your homeless
Staying in a rented house or buying a house is profitable?
In general if you can afford to pay (and continue to play) the rent on a house to live in then if you can get a mortgage on a house where you are paying no more than the rent, then this is profitable (because you end up owning the house yourself). However if are purchasing a house you are responsible for all the repairs to it and you must be aware that the price you agree to buy the house for may go down (it may lose its value) as well as up (it could gain value) and you have little control over this. You also need to be sure you can keep paying the mortgage payments or you will lose your house and your investment.
Can you put a house with a mortgage in a trust?
Yes. There are almost no obstacles if you still own and live in the house after.
Can your spouse throw you out even though your name is not on the mortgage?
This question needs to be more specific, but the answer to it depends on where you live. Generally you can not be evicted without notice no matter where you live or who owns the house. If you live in a community property state you may have rights to the home depending on the situation regardless of who is on the mortgage. The name on the title of the home is more important than the mortgage documents. This is assuming there is no threat of harm that would cause your spouse to fear for their safety.
If you buy your mom's house but she will still live there does she have to remain on title?
If you buy something, then, it belongs to you, regardless of who you bought it from. Answer - She will no longer be on the title or mortgage.
Who has to leave the house when a legal separation is taking place and who is responsible for paying the mortgage?
You can be separated and still live in the same house. No one has to move.The mortgage payment is made by the person whos name is on the mortgage. If it is in both names you are both responsible.
What if your landlord stopped paying his mortgage for a building you live in?
That has nothing to do with the tenant.
Can a family member live in your house if they are not on the mortgage or deed?
Of course they can. Anyone that you permit may live in your house.
Can you refinance mortgage if you do not live in a house?
I dont think a bank would finance ANYone that didnt have a house , its hard to make the mortgage when your homeless
Staying in a rented house or buying a house is profitable?
In general if you can afford to pay (and continue to play) the rent on a house to live in then if you can get a mortgage on a house where you are paying no more than the rent, then this is profitable (because you end up owning the house yourself). However if are purchasing a house you are responsible for all the repairs to it and you must be aware that the price you agree to buy the house for may go down (it may lose its value) as well as up (it could gain value) and you have little control over this. You also need to be sure you can keep paying the mortgage payments or you will lose your house and your investment.
Can you put a house with a mortgage in a trust?
Yes. There are almost no obstacles if you still own and live in the house after.
Do you have to have insurance on your home after you pay the loan off?
In the United States, there is no requirement to have house insurance. However, most banks and lending institutions require you to have insurance while there is an outstanding mortgage on the house. Once you have finished paying off the house, you don't have to maintain the insurance. However, it is a good idea to continue the insurance plan if you can afford it. Without insurance, if your house burns to the ground, you are left with no place to live and no money to purchase or rebuild.
What are some tips that mortgage companies offer when considering a home purchase?
Some common tips that mortgage companies offer when purchasing a home are to live within your means, pay your mortgage payment first and plan for rainy days. Paying a little extra each month towards the principal will help pay your house off quicker.
When they say its affordable are they paying you?
No, it means that they reckon you should have the money to pay for whatever it is they are trying to sell. For instance if you take out a mortgage to purchase a house, then it is important that your monthly repayments for the mortgage are affordable. In other words that you are earning enough money to pay off the loan and have enough left to live on afterwards.
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Can your spouse throw you out even though your name is not on the mortgage?
This question needs to be more specific, but the answer to it depends on where you live. Generally you can not be evicted without notice no matter where you live or who owns the house. If you live in a community property state you may have rights to the home depending on the situation regardless of who is on the mortgage. The name on the title of the home is more important than the mortgage documents. This is assuming there is no threat of harm that would cause your spouse to fear for their safety.
