Is it legalized to cancel credit queue from reverse mortgage if you hold to way of walking away?
We have non recourse reverse mortgage and
we have to move out term. we want to use the
credit line to pay bad credit card debit. Also if it is
a non recourse loan can their be a foreclosure.
We have excellent credit but now moving is
inevitable.
Answers:
ironic mark name
goldy locks
a reverse mortgage is money that goes to YOU every mo for
20 or more normally 30 yrs. IT is repaid in a lump sum at the end
of the entry.
U have to move out--you did not say why. Actually, it does not
issue. It does not matter who lives in the liened home.
u can use the reverse mortgage currency for ANY purpose.
naturally, the lender will foreclose on the house-he is not giving
away money; the house is his collateral. But remember, that
note is not due for years; unless u enjoy a very unusual one
that has a due date surrounded by less than 15 yrs. Source(s): RE broker
Related Questions:
How long will it embezzle for my credit to progress up so i can bring a mortgage?
hi, i am 23 and my credit rating is REALLY bad at the minute i'm in a debt organization program so my credit isnt getting any better, but my boyfriend has said he will pay it rotten...
we have to move out term. we want to use the
credit line to pay bad credit card debit. Also if it is
a non recourse loan can their be a foreclosure.
We have excellent credit but now moving is
inevitable.
Answers:
ironic mark name
goldy locks
a reverse mortgage is money that goes to YOU every mo for
20 or more normally 30 yrs. IT is repaid in a lump sum at the end
of the entry.
U have to move out--you did not say why. Actually, it does not
issue. It does not matter who lives in the liened home.
u can use the reverse mortgage currency for ANY purpose.
naturally, the lender will foreclose on the house-he is not giving
away money; the house is his collateral. But remember, that
note is not due for years; unless u enjoy a very unusual one
that has a due date surrounded by less than 15 yrs. Source(s): RE broker
Related Questions:
How long will it embezzle for my credit to progress up so i can bring a mortgage?
hi, i am 23 and my credit rating is REALLY bad at the minute i'm in a debt organization program so my credit isnt getting any better, but my boyfriend has said he will pay it rotten...