Home Selling in Binghamton>Question Details

Enbri31, Home Buyer in Corpus Christi, TX

What do I do to obtain a mortgage on my currenty onwer financed home?

Asked by Enbri31, Corpus Christi, TX Wed Jul 4, 2012

My home is owner financed through an elderly woman, the original contract was for 5 years, but she extened it because I divorced within that time and she was happy with my payment history. I pay her and she in turn pays taxes and insurance on the home. I need to get a mortgage for my balance because she is in ill health and its too much for her to keep up.

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Any local lon officer can help with your mortgage needs....
0 votes Thank Flag Link Wed Jul 4, 2012
You would need to contact a mortgage company, bank or a credit union. Ask them about financing your house they will tell you what else needs to be done. Interest rates are good right now and there are a lot of different choices, they will direct you to the one that fits your credit history etc.
0 votes Thank Flag Link Wed Jul 4, 2012
All you need do is to apply for a mortgage or refi through a bank or mortgage company. The current owner will be paid off in full and you will have a new lender.
0 votes Thank Flag Link Wed Jul 4, 2012
Just speak with a couple of banks or mortgage companies and they will guide you from there. They will do an appraisal to find the value of the property and that will determine if and how much of a loan they will give you.
0 votes Thank Flag Link Wed Jul 4, 2012
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