2006-07-21 13:15:46 · 6 answers · asked by Jeffrey T 1 in Business & Finance ➔ Personal Finance
Simple question. NO
2006-07-21 13:18:42 · answer #1 · answered by Shadow 4 · 0⤊ 0⤋
Do you own the house? If you do and you paid for it in full then I gues the mortgage has been paid right? Check the terms of the sale first.
2006-07-21 20:20:04 · answer #2 · answered by admyr75 3 · 0⤊ 0⤋
It's possible you may still be liable for the remaining amount, if the lender cannot satisfy the full loan by the selling price of the property.
2006-07-21 20:23:57 · answer #3 · answered by Dale P 6 · 0⤊ 0⤋
legally no. but here is something to think about. when the foreclosure is done and the house is resold some one may be responsible for the difference. when it happened to me i had a cosigner and the got stuck with the house.
2006-07-21 20:24:59 · answer #4 · answered by dennis 2 · 0⤊ 0⤋
On forclosure, you agree upon a price from the bank that is selling. Then you obtain financing on that from the lender of your choice...or pay cash if you have it.
2006-07-21 20:18:45 · answer #5 · answered by Anonymous · 0⤊ 0⤋
you pay the overdue amount and walk away w/the keys. however the previous owners can sue and cause a delay in transfer of ownership.
2006-07-21 20:18:50 · answer #6 · answered by jwdaye 3 · 0⤊ 0⤋