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How much money would it take to pay off everybodys home mortgage in the USA?
Wiki User
∙ 11y ago
Less than the total spent on Qes saving the banks
Wiki User
∙ 11y ago
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What is another word for got home?
your home my home everybodys home
Is it possible to get a mortgage on a second home that includes enough money to pay off the mortgage on the first house?
You could take out a mortgage on a second home to payoff the mortgage on your primary residence if you have sufficient equity. I guess the question would be, why would you want to do that? Generally, you are going to get better terms on a mortgage for an owner occupied residence vs. a 2nd home all else being equal.
Where can one find the current home mortgage rates?
One can find current home mortgage rates from: Money Supermarket, Money Savings Expert, Which Mortgage Advisors, Bank Rate, Mortgage News Daily, to name a few.
Why might one refinance a home loan or mortgage loan?
Someone might refinance a home or mortgage loan to take money off of the equity they have in the house in order to make improvements that will increase the value of the home. Another reason could be another investment that would make taking money out on the equity in the home worth it.
What is the purpose of a home improvement mortgage loan?
The purpose of a home improvement mortgage loan is to borrow money against the value of a house in order to carry out improvement work. Typically, this would be intended to increase the value of the house.
What are the reasons to do a mortgage refinance?
Some of the reasons for a mortgage refinance would be lower rates, to get additional money to eventually buy a home somewhere else or even to consolidate two mortgages.
Should home insurance be more than home mortgage?
This depends on how much money you are borrowing on a mortgage. If you have a small mortgage, ie you have borrowed very little and are insuring a big house in a high risk area, the home insurance could be higher but generally most people would be spending thousands per year on mortgage and hundreds on house or contents insurance.
If you foreclose on your home and proceeds are not enough to pay the first and second mortgage what happens to the second mortgage lien?
You still owe the money to the mortgage provider.
There is insurance money for home repairs being held by the mortgage company what happens to this money during a foreclosure?
I really recommend calling your mortgage company to ask.
What are the advantages of taking out a second mortgage?
The advantages to taking out a second mortgage on your home is that it gives you a little extra money to work with. Some people will take out a second mortgage on their home if they need to make improvements on their property and don't have the money to do so. It will also help you to create a home equity line of credit.
What if your husband abandoned you in fl what are his rights to your home he is not on the mortgage and is not giving money towards the home?
they will take the home away
In what situation do we need to cash out our refinance mortgage?
A situation that would require a mortgage refinancing or cash out would be to obtain a better rate or borrow money against the home. The site named Discover has a nice calculator to help with the calculations.
