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Can a house be sold if used for collateral for a loan if loan paid off after house sold

 
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Vote:
Asked by
Cordie


Can a house be sold if used for collateral for a loan if loan paid off after house sold?
0     In Loan Cont.02

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    Q. What happens to home equity loan after house is sold?


    Home Equity Loan will be paid from the proceeds of the property. You will only get money after the 1st mortgage and Home Equity Loans plus fees are paid in full.

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    Q. House was sold...father passed away...left will....house all paid up....has $5,000 hospital bill, when do we get paid?


    ON Canada - if the insurance is a mortgage life insurance then the insurance company pays the bank and the title is released to you. Your family now owns the house. If the insurance is life insurance, then the insurance company pays you and you deal with the hospital bill. Which one do you have?

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    Can you help us by answering one of these related questions?
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    We need your help! Please help us improve our content by removing questions that are essentially the same and merging them into this question. Please tell us which questions below are the same as this one:

    Q: Can a house be sold if used for collateral for a loan if loan paid off after house sold?
    • 88% - Can a house be sold that was used for collateral?
    • 83% - I have two house one sold and payment loan for second house?
    • 83% - Are you still obligated to pay a secured loan once the house has sold canada?
    • 82% - When a house sold proceeds go to different people does the seller need to file taxes for full amount of house sold?
    • 80% - If line of credit is secured by the equity in your home what happens to loan if house is sold at auction?
    • 77% - House was sold...father passed away...left will....house all paid up....has $5,000 hospital bill, when do we get paid?
    • 74% - If land is collateral for a loan can you split it if loan is paid halfway off?
    • 74% - Are taxes paid on house refundable when house is sold?
    • 72% - When house is sold do you get paid by check?
    • 72% - Who gets paid when a house is sold for less then it s owed?
     

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