Unless you were a co-signer or legally part of the purchase process on either the house or the mortgage, you have no legal responsibility to pay back the mortgage in part or in full. If the house with the mortgage was willed to you, I would consult your family lawyer for help.
A reverse mortgage is a home loan taken out by a senior home owner that requires no loan payments for as long as the borrower remains living in the house.
Mostleaders/banks have the same products, your ability to get a mortgage loan will be hinged on your credit score and your ability to purchase a house.
Sorry we do not understand what you are asking. A bank lends money to finance your purchase of a house - the loan made is secured on the house and is called a mortgage. While the mortgage is not paid off the bank actually own the house and you can not raise more money secured against it without the bank's permission. There is no such thing as a "reverse mortgage".
A mortgage is a loan taken out to purchase a house. One can apply for a mortgage by approaching a lender, such as a bank. The bank will need one's information, such as one's credit history and employment records.
A normal mortgage is borrowing money to buy a house. A construction mortgage is when you own a house and borrow money against the house for repairs or renovations.
Yes, a son can purchase a house from his father as long as his father is the owner and there is no outstanding mortgage.
Unless you were a co-signer or legally part of the purchase process on either the house or the mortgage, you have no legal responsibility to pay back the mortgage in part or in full. If the house with the mortgage was willed to you, I would consult your family lawyer for help.
A reverse mortgage is a home loan taken out by a senior home owner that requires no loan payments for as long as the borrower remains living in the house.
If you have been making more than the required payments, then that surplus should have been applied to the principal balance of you mortgage. If you sell the home, you will receive a check for the difference between the purchase price and the principal balance minus fees.
Mostleaders/banks have the same products, your ability to get a mortgage loan will be hinged on your credit score and your ability to purchase a house.
If you purchase a home you have to pay a mortgage which is a repayment of a loan you used to purchase the house. Paying rent is when you sighed a leasing agreement for an apartment you are renting.
Sorry we do not understand what you are asking. A bank lends money to finance your purchase of a house - the loan made is secured on the house and is called a mortgage. While the mortgage is not paid off the bank actually own the house and you can not raise more money secured against it without the bank's permission. There is no such thing as a "reverse mortgage".
The executor of the estate has the option of continuing to pay the mortgage and thereby continuing to own the property (which is presumably a house) or selling it. When you sell a house that has a mortgage, some of the purchase price will go to you, based on your equity in the house, and some will go to pay off the mortgage. If there is little equity in the house, or if the housing market is very depressed, you may realize little or no profit on the sale of the house, but you won't have to continue paying the mortgage.
Yes...those factors make no difference.
A mortgage is a loan taken out to purchase a house. One can apply for a mortgage by approaching a lender, such as a bank. The bank will need one's information, such as one's credit history and employment records.
In short the interest rate is the amount in percentage charged on your capital amount of your mortgage to you pay in addition to the actual amount loaned for the purchase of your house.