Sentences with phrase «to pay off one's current mortgage»

In addition, for seniors facing the threat of losing their home to foreclosure, paying off the current mortgage means they may have a way to retain their home.

This new home loan pays off your current mortgage balance and lets you access the equity in your home in the form of a lump - sum cash payment at closing.

If you haven't yet paid off your current mortgage, your lender may agree to extend your mortgage and release you some more money.

In addition, for seniors facing the threat of losing their home to foreclosure, paying off the current mortgage means they may have a way to retain their home.

I used that reinvested money to pay off our current mortgage in full last December.

Refinancing is paying off your current mortgage with a new mortgage loan, using the same property as security.

If the real estate market in your area is good, selling your home may provide the funds you need to pay off your current mortgage debt in full and even leave enough to pay other debts off as well.

Essentially, you're getting a new mortgage on your home and using it to pay off your current mortgage.

In most cases, refinancing your mortgage will require you to find a new lender who will pay off your current mortgage.

Refinancing your mortgage allows you to pay off your current mortgage and replace it with a new one.

Consider taking out a home equity line of credit — often called a HELOC — and using that to pay off your current mortgage.

In the first year of a reverse mortgage loan, you may only access 60 % of your approved loan amount (or the amount required to pay off your current mortgage plus 10 %, whichever is greater).

You should factor in how long you have to pay off your current mortgage.

I am think of refi» ng one of the rentals, taking the cash and paying off my current mortgage.

In order for my colorful dream to become a reality we have to pay off our current mortgage.

As a general rule, refinancing that is, paying off your current mortgage and taking out a new loan at a lower interest rate may be worthwhile if it saves you money.

Refinancing your home also allows you to pay off your current mortgage and replace it with a new one.

Sure, paying off a current mortgage would save the 3 percent or higher interest a person would have to pay, but finding an investment that returns more than 3 percent is not a difficult task.

Or do I pay 300, 000 to the bank to pay off my current mortgage and porting the mortgage means I then will have a new 300,000 mortgage just with the same interest rate.

You pay off your current mortgage, and then can put the rest of the money to some other use.

A lender will let you borrow enough money to pay off the current mortgage and take out an amount up to 80 % of the home's value to fund your remodel.

The reverse mortgage is a wonderful option to pay off a current mortgage and improve one's cash flow (no monthly payments mean more money available to you each month).

First, you need to pay off your current mortgage.

It also will depend on how far along you are in paying off your current mortgage.

In the first year of a reverse mortgage loan, you may only access 60 % of your approved loan amount (or the amount required to pay off your current mortgage plus 10 %, whichever is greater).

You would get one new loan to pay off your current mortgage, and the additional amount would go to you as cash.

Once this is achieved, I would bet your husband is more on board to save more money for the next investment and with mortgage rates this low, let your renters continue to pay off your current mortgages.