Hello Anon, when your mortgage gets paid out by you at the bank or by a sale of the home your mortgage should be discharged by the bank that currently holds your mortgage. In some cases the lender forgets this step but once your mortgage is paid in full it must be discharged. There is a fee for this discharge that the banks ask the clients to pay, but instead of this being just a cash grab the cost is actually passed on because the bank has to pay to register the discharge. i hope this helps. If any reader has any questions please do no hesitate to contact me at any time to discuss this topic or any other question. Regards, Abraham Niyazi - Mortgage Agent - Lic#M08010640 - Centum One FInancial Corp - Lic 10758. Cell: 416-993-4082 Toll Free: 1-866-728-3708 x 115 http://www.centum.ca/abraham_niyazi/ I deal with 25 Banks/Lenders and can do mortgages across Canada except Quebec. Please Google my name to access my articles and videos on many mortgage related topics.

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House is left to 4 members of family. 1 person wants to buy 2 of the 4 out so owns 75% but will need a mortgage. other person does not want to sell or be on mortgage so keep his 25%. have been told not able to be done is this correct?

If a bank took out a mortgage for 75% of the house then if they foreclosed on the mortgage they would take over the 75% ownership and then they would have the additional step of having to sue for partition to force a sale of the property. When the property then sold 75% of the proceeds would go to the bank and 25% is the other owner. In theory this is doable but I really doubt any bank would be willing to go thru the extra hassle (or having to sue for partition to sell the property). So, essentially you were told correctly - no bank is going to be willing to do this. To force a sale the 75% owner could sue for partition himself, which means sell the property and get his 75% out of it (and they could even do this as a 25% owner). Then they could step in with an offer to buy the property and if their offer was better than any others the other owners (unless they are stubborn or stupid) would probably accept it, so the owner would get 100% of the property. Still this is a lot of work and the 25% owner clearly would not be happy, but maybe they are being a bit unreasonable by not allowing a mortgage or sale of the property short a lawsuit.

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Where can i report what may be lies by a person to obtain a mortgage? they are probably getting a fha mortgage at that. fha? fbi? they have a lot on fraud by companies selling mortgage but haven't seen anything on people lying to get a mortgage. the bank? can i look up the bank that financed a mortgage by deed?

Report what "may be" lies? How do you know they have committed "mortgage fraud"? Be specific. Sounds to me like some personal vendetta.

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both are on the deed and equal owners.

In the UK NO. Both parties have to sign to agree the house to be sold.

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I am in the midst of a divorce and i'm trying to be civilized about the situation. both of our names are on the mortgages, me as the primary and him as the secondary. i haved asked him to refinance the house, to which he says he can't do and can't afford. i then asked him to sell the house, but he refuses to do this. he says that he won't sign the papers. if i'm the primary person on the mortgage, do i have any say in selling the house? can i do anything without his signature?

YES AND NO.. YES IF YOU HAVE PROOF THAT YOU HAVE BEING PAYING THE WHOLE MORTGAGE FOR 12 CONSECUTIVE MONTHS.EXAMPLES CAN BE COPY OF WRITTEN CHECKS UNDER YOUR NAME. AND NO IF YOU ARE LEGALLY MARRIED TO THIS PERSON BY LAW YOU NEED HIS SIGNATURE REGARDLESS.

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Other person get half the sale price .we have lived together 3 years and decided to call it a day .

It's a grey area legally as if they have contributed then they could be entitled to something, but not half.

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My boyfriend is changing careers and going into selling mortgages. what are some gifts i could get him for christmas that would help him out or make the job easier?

Transportation-Car;Cell Phone,Nice suit ( Coat and Pant -nice shirt and tie with a tie pin.)Nice shoes ( preferably Black Bostonian).You can buy him out of those if you can,Or buy him a shaving set,so before he goes to office and do the shaving he will remember you for your gift.And if you wanted to be cheap than buy a shoe polish-shoe color and shoe shine brush.Or a Nice Parker or a Shaffer pen. With an Appointment book with a address book.A pocket calculator ( from Texas Instruments) for calculating mortgage.So as a Christmas gift buy for your BF whichever you can afford it.

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I have a loan contract with a person on the title (individual property grant deed) in which the contract for the loan "shall continue until the property is sold". even though i am not selling the property, i have offered a buyout amount for his 10% share and he is threatening to block any refinancing unless i meet his demand for a buyout amount. we differ on the appraisal amount of the property. my appraiser was approved by my lender and is a certified residential real estate appraiser in california and i have no idea if or what type of appraiser he used. can he do this even if he is not and will not be on the original mortgage or the refinanced mortgage? would it be better to rescind the offer and just wait to pay him when i sell at a later date? please let me know if you have any ideas on how to handle this situation.

Yes. The person on the title can block your attempt to refinance. You can wait to sell, but he will have the same veto power over any contract offer as well.

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The loan will be in my name and the payments will come out from my account i will not be making any payments the other person will be paying the money into my account, is this illegal? if the other person falls behind with the payments do i have the rights to sell the mortgage?

I wouldn't do it! My husband put a house in his name for his sister's family, and now we can't get a house (because debt-to-income ratio). They're not having any luck getting the house out of his name (it's been four years), so we're stuck renting until who knows when.

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I know the average payouts on simple things-- mortgages, some insurance products... but i don't know how much money a person makes for selling mortgage insurance. an example would be great too, i would appriciate it. especially if i were to make a career out of selling mortgage insurance, how many times would i need to sell it weekly/monthly to make...approx 70-80k yearkly?

Mtg insurance isn't sold. It is required by a lender if you are not putting at least 20% down. There just isn't a market for a sales rep in that line of work

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I know of this house going real cheap but the roof is shot, really bad shape. the inside looks like something from those tv shows before they fix the house up. can this house even be sold in this condition? would it have to be repaired first?

yes they can its called a 201K you can borrow money that is needed for the repairs on top of your loan,FHA offers to guarantee it in many cases, aks your agent about it