A trustee manages the mortgage on a house in a trust. The trustee uses trust assets, rental income, or other funds to make payments. A beneficiary does not have to pay unless the trust lacks funds.
Who Pays the Mortgage on a House in a Trust? Read More »
After an insurance claim, you might expect to use the payout immediately for home repairs. However, if you have a mortgage, your lender also has a stake in the property. Since your home is collateral for the loan, they want to ensure the money is used for repairs, not other expenses. That’s why insurance checks
How to Get Your Mortgage Company to Endorse an Insurance Check Read More »
A mortgage is a loan used to buy real estate. The borrower agrees to repay the lender over time, usually in monthly payments covering both principal and interest. The property serves as collateral, meaning the lender can take ownership if the borrower fails to make payments. Mortgages are the most common way people finance home
Do You Own Your House with a Mortgage? Rights, Responsibilities, and Misconceptions Read More »
A church mortgage is a specialized loan for churches to buy, build, or improve properties. It allows churches to secure financing for places of worship, educational buildings, or community spaces. It helps fund worship areas, community centers, or expansions.
Church Mortgages – Mortgage Acquisition and Management Strategies Read More »
Yes, you can use alimony as income for a mortgage if it meets certain conditions. Lenders accept alimony as qualifying income, provided it is court-ordered, consistent, and expected to continue for at least three years after the loan closes.
Can You Use Alimony as Income for a Mortgage? Read More »
Yes, you can get a mortgage with an eviction, but it may require extra effort to address the financial impact it causes. While an eviction can negatively impact your credit and financial history, it doesn’t permanently block you from homeownership.
Can You Get a Mortgage with an Eviction? Read More »
Splitting land with a mortgage is possible, but the process requires careful planning, lender approval, and adherence to local zoning regulations. Subdivision can provide financial opportunities, whether by selling a portion of the land, developing it for profit, or dividing it among family members. However, splitting mortgaged property comes with challenges that demand a clear
Can I Split My Land If I Have a Mortgage? Read More »
Yes, purchasing a new home during Chapter 13 bankruptcy is possible. While lenders may have stricter requirements, many government-backed loans, like FHA, VA, and USDA mortgages, offer more lenient terms for Chapter 13 filers.
Can I Get Mortgage While in Chapter 13 Bankruptcy? Read More »
Yes, a spouse can assume a mortgage in a divorce, especially if they are awarded the marital home.
Can a Spouse Assume a Mortgage in a Divorce? Read More »
Yes, a mortgage company can deny reinstatement. While reinstatement offers homeowners a chance to avoid foreclosure, lenders may refuse if certain conditions aren’t met.
Can a Mortgage Company Deny Reinstatement? Read More »
