Looking to buy a property from a FSBO under a land contract that has an existing 3% equity line of credit mortgage, is there any way we can write the contract to prevent him from going behind our back and renewing the home equity line and or obtaining a new mortgage on the property, we are filing the Land contract at the district recorders office
My mortgage co. is willing to give me a new mortgage with less interest. The largest closing cost it the title process but I don’t know why is this needed since the legal parties should be the same, them and me.
Also, is the title fee based on the cost of the home?
www.OWNavigators.com Principal Reduction Program for distressed homeowners who are upside down in their mortgage. We will negotiate a new mortgage for you at 95% of Current Market Value. Excellent credit or terrible credit, current or behind, we can help you get a new loan if you meet our qualifications. This is not a loan modification program.
When you pay it off, is that called unfinancing, or what? And if you get a new mortgage shortly, is that called refinancing even though it’s a new mortgage? Are the terms and rates usually the same as normal refinancing?
About points, fees etc. And are no-closing cost loans truly ‘no-cost’ – or are they wrapping that fee into the new mortgage?