Refinancing Home Mortgage
For example, I say, 100,000 dollar loan from the bank and is a 30-year mortgage. What if I sell the house 30 years ago?
If you sell your house before you pay off your existing mortgage, you need to set a sale price above the current balance of the mortgage or the difference if the sale price does not exceed the mortgage balance.
Normally, the sale of a house with a mortgage balance of the escrow closing agent will be a demand for payment of the mortgage on your existing mortgage.
Once the purchase transaction is closed, these financial statements Escrow Agent is obligated to pay off your existing mortgage on the balance of earnings. The balance of your gain would be about balance, you still had to pay the monthly mortgage interest that would not be paid in full.
This is about mortgage information questions.
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