A person I hired to help with my mortgage advised me to stop making payments on my mortgage loan so I could qualify for a loan modification. Do I have to do this?
Not making your mortgage loan payQments could hurt your credit score and limit your options. If anyone tells you to stop making mortgage loan payments, they may be trying to scam you.
Should I follow my hired advisor’s suggestion to halt mortgage payments in order to be eligible for a loan modification?
Skipping mortgage payments can damage your credit and may signal a scam if someone advises you to do so.
After I have paid off my mortgage, how do I check if my lien was released?
State property records will show whether your lien is released. You can find information on property records by contacting your local Secretary of State or county recorder of deeds. After you pay off your mortgage, your lender should also return the original note to you. You can also contact the company that paid off your loan to find out if the lien was released. Note that there may be a delay between the time you pay off your mortgage and the release of your lien.
Understanding Loan-to-Value Ratio in Mortgages
When embarking on the journey of mortgage lending, one of the most significant factors we weigh is the Loan-to-Value (LTV) ratio. As seasoned professionals in the realm of real estate financing, we’ve come to recognize the importance of this metric both for lenders and homeowners. The LTV stands as a beacon, guiding the decision-making process […]
