2007-02-02 03:14:53 · 3 answers · asked by Joey S 1 in Business & Finance ➔ Renting & Real Estate
pay off the lien. What is the lien for? borrow the money to pay it and when you refi your mortgage take enough money to pay it back if there is equity.
Good luck,
RE Agent,
Remax
2007-02-02 03:22:22 · answer #1 · answered by frankie b 5 · 0⤊ 0⤋
Can you share with us what it means for a mortgage to renew in Canada? In the UK and the US the loan would just continue with maybe a reset of interest rate. The term (length) of the loan would have been set to end when the property is paid off.
2007-02-02 11:36:01 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Nothing. When you refinance and try to take any cash out, that lien will have to be paid off....which means you get whatever is leftover....or you can pay off the lien in advance and have the lienholder record a release so you can refinance for cash out...
2007-02-02 13:26:53 · answer #3 · answered by boston857 5 · 0⤊ 0⤋