Tag: due-on-sale clause
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Should I Pay Off the Mortgage if I’m Single with No Heirs?
Hold on a minute. Are you sure you have no heirs? Somebody in an extended family is nearly always tracked down when someone dies intestate. Of course, that doesn’t rule out the point of your question. Let’s take a look at the person who dies with a mortgage loan balance — but without naming a…
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Transferring a Deed Before the Loan Is Paid Off? Be Mindful of the “Due-on-Sale” Clause
Are you thinking of transferring your deed? You might be quitclaiming the deed to someone you know, or you might be transferring it into a company or trust. Or you might be getting ready to sell. In all of these cases, check the rules on your home loan. If you have a conventional mortgage loan…
