Mortgage Question

Serious Business Backup 4 replies 228 views
ernest_t_bass's avatar
ernest_t_bass
Posts: 24,984
Jan 13, 2011 8:49pm
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?
justincredible's avatar
justincredible
Posts: 32,056
Jan 13, 2011 8:53pm
I don't know but I'd guess at closing.
LJ's avatar
LJ
Posts: 16,351
Jan 13, 2011 8:55pm
closing
ernest_t_bass's avatar
ernest_t_bass
Posts: 24,984
Jan 13, 2011 8:59pm
LJ;637501 wrote:closing

Son of a cock.
mcburg93's avatar
mcburg93
Posts: 3,167
Jan 13, 2011 9:18pm
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.