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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The payment is 591$ a month .it is a 30 year loan i moved in the home one year ago . how much should i pay each month to have the house paid off in 10 years even though it is a 30 year loan there are no penalaties for paying the house off early

What's the interest rate? That's important to know to give you the proper answer. Are we doing your math homework? =/ If you've lived there 1 year, and therefore have made 12 payments of 591, the amount left due on your loan is 66,908. To pay off the loan in 10 years total (so 9 years from now since you've already lived there a year) you'd need to pay 619.52/month.

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My dad let her move in 12 years ago until she could get back on her feet. 5 years ago my husband and i moved in and my dad moved out (possibly because she was causing problems in his relationship). she has told all of the nieghbors it is her house and many of them think she our parent. she undermines us as adults and tells everyone including family members she "takes care of us". she has not worked in 12 years and could go live with her own elderly mother. she is an ocd horder and fills every space of the house with junk. it is so bad i have considered moving but my husband doesnt want to let her have the house i grew up in, he wants to raise our kids here but we cant even think about having a family until she is gone. i should add that everytime i try to bring it up to my dad (the home owner though i pay the morgage now) he says she is a nice lady. i dont care she is a mess and manipulator.

Get a court to issue an eviction notice at once! You must inform her in writing that she must clean up her stuff because it is a health hazarded. If it is really bad you can call the Dept. of Health or Fire Marshall on her. Hording is a disease but it can lead to serous health and fire hazards. Tell you dad what you want and be HONEST! She is not family and you want to start a family!

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My house will be paid for in 10 years, should i sell my home now and buy another one, or just finish out this loan, and start a new one by buying an additional house in 10 years?

why do you have to buy another house just for the sake of having a mortgage? in 10 years you can live mortgage free and save the money for retirement or vacations, or whatever else you want

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We are paying rent for 1800 a month for the last 5 years and we feel that we are really wasting our money . we have been offered a 300-350k for a mortgage on a fixed interest of 6.5%. our dilema is that how much will we get back after 10 years if we bought a 300k house and sell it in 10 years time. we need the cash then to start life in another country where cost of living is lower. what will actually happen if we can only sell the house at the price we pay for it when we buy the house. we really appreciate your response very much.

I guess the question is, what have you lost NOW for having paid $1800/month for the past five years..... I guess that is my Realtor talk there, but seriously, your value WILL increase unless you buy in a super high risk area like New Orleans or on a fault line or something and the place falls into the earth. Although most of the market in the US is slower now, it is still better than getting NOTHING while renting. You have just made someone ELSE rich. You ARE paying HIS mortgage AND taxes and HE gets the tax benefit of home ownership that YOU DON'T GET NOW!!! Just for the tax benefit alone, I would own!!! Ask your mortgage broker to show you the tax benefit of home ownership!!!! GOOD LUCK

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I have been living in a house for over 10 years and i have been maintaing house for my landlord who was more like my uncle i have known him for 29 years. he passed away but, before he passed he told me and his brother and my husband that i was going to get the house.(not to move i would be taken care of) but, now i dont know what my rights are. i am tired of drama. i love my house but, dont want it to go to his kid (who does not want it). i did not have a lease, or pay rent. what are my rights please anyone there is a will but, the will is very old. i know that he redid his will a couple of years ago because, he told me. it has not turned up. my attorney that i have is also their probate attorney. i guess you would say that is a conflict of interest. my attorney has been told that the house was supposed to be mine many time for many years now before this happened.

contact a property lawyer you may have squatters rights if no rent has been paid and there is no written agreement, if no written will has been made you may be able to show an intent to leave the house to you if the brother bears witness to that

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There is no penalty if i pay early the loan is for 74,000 my payment is 591$ the rate is 5.200i have been in the home since june 18 2008 but never paid anything extra the rate is 5.2000

Try this, not a ten year plan, but 15: Every month pay $20.00 extra for one year to the principal. At the end of one year, around the time you get a tax refund (if you get one), pay all of your tax refund to your principal. If it is less than $1000.00, pay enough to equal $1000.00 dollars. If your refund is more than $1000.00, just pay the $1000.00, or give all of the refund check on the principal. That never hurts. After all, it is money you wouldn't normally have the rest of the year. After paying that $1000.00 +, increase the amount to $40.00 a month over and above the normal monthly payment. Do the same thing around tax time as the year before with the $1000.00 payment. The next year, increase the monthly payment to $60.00 over each month. This should take into account that you will be getting back a tax refund, or if not, that you can make that $1000.00 payment. It also takes into account that based on a normal rate of progression, you should be getting pay increases every year. Every year make the $1000.00 payment, and every year, increase the monthly payment by $20.00 over the previous payment. $20.00, $40.00, $60.00, $80.00, etc. And, EVERY little bit extra that you pay monthly and yearly needs to be annotated on your Mortgage payment as going to towards the principal, not the interest. That is crucial. My wife and I did this and we paid off our house in about 12 years because we put in much more than $1000.00 and $20.00 extra each month. But, this really does work. I hope I explained this well enough to understand.

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There has been a water leak identified between our house and the water meter, most probably at the meter end. if the pipe needs to be replaced can i make a claim through the new buildings certificate? our house is 8 years old, we have only been here for 4 of those, i do not have a copy of the certificate, how would i go about getting a copy? and who is responsible?

the water company should foot the bill.. Plus a new build are under warrenty for at least 10 years..

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I was led to believe that if i have not owned a house for over 5 years i am classed as a first time home buyer. but now my lawyer is telling me that this is not the case. it is extremely expensive - $2,500, which is a ridiculous money grab by the government. what are my rights here? i haven't owned a house for so long, so why should i have to pay land transfer tax? it is for ontario

What jurisdiction are you talking about? It could well be that land transfer tax is payable if your attorney says so. Your "First time homebuyer" definition is for mortgages, and for the recent tax incentive. Your jurisdiction could well use a different definition under their local laws. So -- what jurisdiction?