Tag: mortgage payoff
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Joint Owner With Survivorship Rights, Not on the Mortgage
Perhaps your home’s deed is vested as JTWROS, but the joint owner is not on the mortgage. Will this be an issue if you pass away before your final payoff? This is a common situation for joint deed holders. The good news? This is not complicated. When a property is held by joint tenants with…
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Lien Release: Getting Ready for Your Final Mortgage Payoff (Woohoo!)
Are you closing in on the day you finish paying off the entire mortgage? Or just wondering what that finish line looks like? What steps do you need to take to get that lien off, and own the home free of debt? Let’s take a look.
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Financial Planning for Deed Holders: Keep the Mortgage?
Some deed holders, hoping to pay their loans down early, send extra money toward their mortgage principal each month. Why are they eager to pay down a mortgage balance faster than the loan agreement requires? Is that the best approach from a financial planning standpoint? Here, we go through some factors that prompt some deed…
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If I Have a Mortgage, Who Really Holds the Title to My Home?
A home buyer who uses financing — as most people do — is considered a homeowner, as opposed to a renter. The buyer has paid the seller, so the buyer owns the home, regardless of whether the deal is done with cash or financed. If the property’s value rises (or falls), then the gain (or…
