Sentences with phrase «continue making mortgage payments on»

Can you continue making the mortgage payments on one salary?

Divorcing couples become well aware of this fact when struggling over who will continue making mortgage payments on their marital residence.

Not exact matches

Even after your bankruptcy is over, you need to make sure that the payments you want to continue to make (like mortgage or car payments) are made on time.

Accruing interest: While homeowners in foreclosure continue living in their homes (or not) without making payments, mortgage lenders are losing interest on their mortgage loans.

If you choose to reaffirm your secured debts in bankruptcy, you can continue making your mortgage payments, giving you an additional source of on - time payment history data.

While there is never a payment due on a reverse mortgage, there is no prepayment penalty and you can make a full or partial payment at any time without penalty if your goal is to continue to pay your line down.

In addition, the mortgage insurers have to contend with borrowers that are reliant on the low interest rates on ARMs in order to continue making payments on their homes.

If you have less than $ 22,975 (using federal exemptions) or $ 75,000 (using Wisconsin exemptions) of equity in your home (value of the house — amount owed on all mortgages = equity), and are current on your mortgage payments, you can usually continue to make your mortgage payments and keep your house in a Chapter 7 bankruptcy.

While FHA loans are certain to continue attracting buyers and homeowners who want an FHA refinance, higher mortgage insurance premiums on the loans have led some borrowers to pursue conventional financing even if it means they must make a larger down payment.

Looking back at our own financial situation in 2013, we did stick to the basics and continue to grow our net worth — we continued to make extra payments on our mortgage, we contributed money towards my wife's tax free savings account (TFSA) and we managed to keep our monthly expenses as low as possible.

Liens against collateral used to secure debt, like car loans and home mortgages, will not be discharged, and that property can be repossessed or foreclosed on unless you continue to make payments or are able to reach a new agreement with your lender.

Of course, continue to make minimum payments on your mortgage.

Be aware that while chapter 13 bankruptcy can give you time to catch up on your mortgage, you will have to continue making normal monthly mortgage payments if you wish to stay in your home and permanently avoid foreclosure.

Many of these borrowers defaulted on these loans, but many of these borrowers continued to make their home equity loan payment and find themselves stuck with a 2nd mortgage.

On the other hand, obtaining a home equity loan (or home equity line of credit or second mortgage) requires that you have sufficient income to cover the debt - plus, you must continue to make monthly principal and interest mortgage payments.

I'd like to point out that mortgage loan amounts are largely based on the value of the home being mortgaged; if the value changes, it makes more sense to write down a mortgage amount, have the homeowners continue to make payments, and stay in their homes.

And it would impose a substantial tax burden on existing home buyers, many of whom continue to stay current with their mortgage payments even as they struggle to make ends meet.

Every homeowner should have a solid budget to help them continue making monthly payments on a mortgage while putting money aside in savings.

Locking in won't be for everyone, especially if you are making higher payments and your mortgage is below $ 300,000, which most people fit and will continue on that path.

For consumers facing foreclosure or simply concerned about their ability to continue making their current mortgage payments, we offer one on one foreclosure counseling.

As a practical result while you do not owe the money you borrowed, based on the promises in the mortgage, if you do not continue making monthly payments, the lender will begin foreclosure proceedings.

As you continue to make secured debt payments (i.e. mortgage, car loan, etc.) on time, your credit score will continue to improve.

Conversely, if financial hardships make it difficult to continue paying relatively high monthly payments on your original 15 - year mortgage, you might consider refinancing your mortgage for a longer term with lower payments.

Strategic default: The property owner intentionally defaults on mortgage payments rather than continue to make payments on a property with a greatly reduced value.

Thorpe LJ said: «It seems to me little more than common sense that if a recipient of a lump sum twice the size of the mortgage on the final matrimonial home elects to hold back capital made available for the mortgage discharge in order to invest in a bond that bears no income, she can not look to the payer thereafter for indemnity or contribution to the continuing mortgage interest payments.»

And finally you have to consider how much debt your beneficiaries will be left with upon your demise, and if you want them to have the ability to pay off that debt in one lump sum, or to continue to make payments on the mortgage, car loan etc..

Due to these high - stress economic times, we have seen a rising trend of more people continuing to make payments on their mortgages during their «retirement years.»

Home owners may already be in default on a mortgage or may recognize that they will not be able to continue to make payments much longer.

Your existing mortgage wouldn't be paid off because no new loan would replace it, so you'd have to continue making payments on your original mortgage.

But if you prepay and continue making the original monthly payment, you'll save money on interest and pay off your mortgage early.

Then we continued to make ALL MORTGAGE PAYMENTS on her behalf to keep the mortgage current.

Mr. Sellers continues to make his 5.5 % monthly interest and principal payment to the original lender on the $ 70,000 mortgage and pockets the difference as profit.