Is it possible to somehow transfer my current mortgage to another house?
Question by Navid H: Is it possible to somehow transfer my current mortgage to another house? I need to move in about 6 months, this pharmacy but my current mortgage has a nice 5.1% rate. If I sell my current house and buy a new house, approved ed I’d be in the 7% range, shop which means I have to get a smaller house. Is there any options for me to keep this rate somehow? I know there are portable mortgages out there (etrade has one) that let you transfer your mortgage to another house, but I don’t have this kind of mortgage. Should I maybe keep this house and rent it out and just rent a place? Any other suggestions? Best answer: Answer by TreesyUnfortunately, your mortgage is tied to that property. If the lien isn’t released (mortgage company won’t release their security if the loan isn’t paid off. It would go from a loan secured by a home to an unsecured loan… basically a glorified VISA card.), the people who buy the house will have a lien on their property for a loan they aren’t even responsible for. I would suggest talking to a Mortgage Loan officer to discuss your options. There is no charge to do this (if they try to charge you, go somewhere else.) I suggest asking credit unions if they do mortgages. They won’t try to scam you. If you can afford to keep the place as a rental, that might be a good idea. Give your answer to this question...
Read MoreI recently was declined for a FHA loan through one lender, but have now been approved by another. ?
by Vietnam Plants & America plants Question by jellofosho: How often are people who are applying for low doc loans being audited? Just wondering in todays market (july 2008) what percentage of people applying for low doc loans are being audited? whats the likelyhood? audited by the irs Best answer: Answer by bud68Audited by whom? Give your answer to this question below! Question by Missy: I recently was declined for a FHA loan through one lender, dosage but have now been approved by another. ? With the new lender, ampoule I had an appraisal done last week that was significantly less than my appraisal 5 months ago. If the appraisal from 5 months ago was an FHA appraisal, cheapest can it still be used even if there is a more current appraisal? Best answer: Answer by src50No. The appraisal is for the lender and each lender has its own appraisal done. You don’t get to choose. What do you think? Answer...
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