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Mortgage Question

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ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Jan 13, 2011 8:49 PM
If I owe $73,000 on my mortgage and sell my house for $70,000, when does the remaining $3,000 have to be paid? At the time of closing? Or do we pay the bank off incrementally?
Jan 13, 2011 8:49pm
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Jan 13, 2011 8:53 PM
I don't know but I'd guess at closing.
Jan 13, 2011 8:53pm
LJ's avatar

LJ

Senior Member

16,351 posts
Jan 13, 2011 8:55 PM
closing
Jan 13, 2011 8:55pm
ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Jan 13, 2011 8:59 PM
LJ;637501 wrote:closing

Son of a cock.
Jan 13, 2011 8:59pm
mcburg93's avatar

mcburg93

permaban to basement

3,167 posts
Jan 13, 2011 9:18 PM
I make loans at 30% interest not bad for no credit needed but do need a few addresses is all. Also have to verify addresses before money is transfered.
Jan 13, 2011 9:18pm