WHAT IF YOU STILL OWE ON YOUR HOME
5 posters
Page 1 of 1
WHAT IF YOU STILL OWE ON YOUR HOME
What if you still owe on your home. Does that disqualify you for a reverse mortgage loan.
Ralph J- Posts : 20
Join date : 2008-01-28
Re: WHAT IF YOU STILL OWE ON YOUR HOME
I owed on my home and they deducted that from what I could borrow. So I could only borrow the equity in my home which was the amount that was clearly mine if I sold it today. But I did not get the full amount there were other payments.
Sun Shine- Posts : 20
Join date : 2008-02-05
Re: WHAT IF YOU STILL OWE ON YOUR HOME
If you have a low mortgage balance it can be paid off at the closing with proceeds from the reverse loan.
Lizzy B- Posts : 23
Join date : 2008-02-05
Re: WHAT IF YOU STILL OWE ON YOUR HOME
Depends on how much you owe on your home. If you owe to much I don't think the loan will go through in the 1st place. But if it does go through they'll pay that loan off and charge that on top of what you are borrowing.
Linn F- Posts : 20
Join date : 2008-02-05
Re: WHAT IF YOU STILL OWE ON YOUR HOME
If this is what you want to do you'll just need to fill out the paperwork and see what happens. Good luck whichever way you go.
Lizzy B- Posts : 23
Join date : 2008-02-05
Re: WHAT IF YOU STILL OWE ON YOUR HOME
Depends on how much you owe on your home and what your home is worth.
Walter Cabe- Posts : 23
Join date : 2008-01-28
Similar topics
» HOME TITLE
» Can the Lender take my home away
» HOME IS A FARM
» WILL MY HEIRS HAVE A CHOICE IF THEY WANT TO KEEP THE HOME
» HOME FALLS BELOW LOAN VALUE
» Can the Lender take my home away
» HOME IS A FARM
» WILL MY HEIRS HAVE A CHOICE IF THEY WANT TO KEEP THE HOME
» HOME FALLS BELOW LOAN VALUE
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
|
|