No, because a mortgage has no liquidity of any funds paid into the loan, save a costly refinance or sale of the home. This is why 99% of Americans don’t pay extra on their mortgage.
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Many real estate investors perform a deal called 'subject to the existing mortgage' when purchasing homes from other people. What occurs is the homeowner Quitclaim Deeds their property into another's possession, without refinancing the loan into ...
Debt Removal Secrets will not work if one still possesses the home. A home is considered a secured debt because an asset can be seized. If the the home is no longer in one's possession, the debt / derogatory mark itself can be removed from the credit ...
Both Mortgage Insurance (MI) and Private Mortgage Insurance (PMI) are a type of mortgage insurance one might be required to pay for with a conventional mortgage, which only protects the lender should the borrower stop making payments on the loan. ...
Yes, a HELOC allows a homeowner to access the equity paid into their homes just like a reverse mortgage; however, HELOCs do not have the incredibly high fees associated with accessing that liquidity (e.g. $0 to $1,000 for accessing up to $1M in ...