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Can you renew your mortgage with another bank if there is a lein on property

 
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Asked by

Vaughn


Can you renew your mortgage with another bank if there is a lein on property? Thank you for your help.
0     In Mortgage Cont.27

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    Q. Will bank renew morgage if lien on property?


    I think they would. Mortgage is always on first position in terms of liens on the property, then 2nd mortgage, then lien holder. When sale happens, the mortgage will get paid first, the 2nd mortgage, and then the other lien. Pay off the other lien holder so when you sell your home, there will be less headaches.

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    Q. Can i renew my mortgage with a lien on my property?


    how does a person living in Alberta put a lien against a property in B.C.??

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    Q. What happens when your bank won t renew your mortgage?


    Did you speak to a mortgage specialist in that bank to see why the mortgage renewal was declined? You should shop around using a mortgage broker to see what you are qualifying for.

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    Can you help us by answering one of these related questions?
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