ON Canada - you need to get a discharge statement from the bank to show that your mortgage is fully paid , Normally the bank will charge you a fee to get this. It is your responsibility to have the discharge registered against the title of the property so the lien is deleted from your record. Then you can ask the registry office if you can get a copy of the title for your use.

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The only loan i have is my mortgage and my credit score is low/bad... if i continue to make on time payments on the mortgage will this be just as good as trying to rebuild my credit with credit cards? i have no credit cards atm... and i want to keep it that way but i also want to get my credit score higher.. thats why i asked about the mortgage loan

Your mortgage loan is definitely helping your score. No doubt about it. If your credit is bad and you really do want to raise your score, this is going to be a slow and painful process. Your score might go up a couple of points a month but certainly nothing big. If you really want it up, unfortunately, you will need more credit lines open. It is best to have 2-3 credit cards and another installment loan like a personal loan or a car payment. If your credit score is real low, you may not be approved for an unsecured loan but you can get a secured card. Don't get one that charges an annual fee. You can get one with a very low limit.. say $300 (best if you get two). Put the $300 deposit in. After 9-12 months they will review the card and make sure you managed it well. If so, they will send back your deposit, raise your limit and convert to unsecured. About 50% of banks and credit unions offer them so check with your bank. Again.. NO feels OR make sure they don't charge a fee after it converts to unsecured. I see you don't want a credit card but really.. you NEED it to establish really good credit. Forget about using it monthly and keeping a balance. Charge something small every 3 months if you think you will be too tempted to use it etc or get out of hand. Pay for a tank of gas, go home, sign online and pay it right off. Then put it back up. If you do this, you will see your score go up nicely after a year. http://www.comebackcredit.com/no-credit-credit-cards/

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On july 27th 2005, my house burned down due to a electrical fire. we had homeowner's insurance and our agent came out right a way with a friend of hers that was introduced as a "coordinator". the coordinator had a contractor that she worked with and since they seemed to be working with the insurance agent we thought they were legit. the contractor started work right away and told us 3 months to get back in the house. after giving him approx 30k not at one time, to work with i got a call from the county building inspector 5 months later.contractor had failed to get permits. building inspector walked through my house and red tagged it. no work could be done due to the shoddy repairs that the contractor had done. inspector threatened to have contractor arrested. long story short. contractor ran away with a total of 30-35k. i am now stuck with rebuilding a house, paying the mortgage, and rent on another house for my family of 5. need help now with supplies know of anyone to donate?

Depending on where you live, contact the insurance board in your state (to "look" at the insurance man for suggesting the contractor) then the BBB in your area. as for real help contact a TV station radio station or paper.that has a "help" desk to get your plight to the nice people that will help. and go on HGTV.com and DIYnet.com they are looking for projects to help people.

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House gets flooded to the rooftop, home is completely destroyed. fema, and homeowners insurance is paying to rebuild... do homeowners stop paying mortgage?

The homeowners insurance pays off the mortgage, there will no longer be a payment and they will own the land the house sat on in full.

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If a house burns down, does the insurance company pay off the mortgage, & then make you turn the property deed over to them so they can sell the land & get back what they had to pay out, or do they make you rebuild or buy another house? i have a bet riding on this btw

They pay you the money directly, you then pay off the mortgage, rebuild, or buy something else. It is all up to you. They do not gain possession of your land.

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2 weeks ago our house burned to the ground, luckily we had insurance. the question we face now is do we rebuild or pay off our current mortgage and take the remaining money for a down payment on a new home! is that even an option?? this him was our first, a starter home. we don't know where to start or who to really talk to that will give it to us straight, not that our insurance company hasn't been great, but there on a different team! and advice will be greatly appreciated..

Insurance doesn't just give you money to walk away. They pay to rebuild your house. Talk to your agent about options.

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I plan to pay off the remainder of the mortgage on my house this month. will i still need the buildings insurance that the mortgage lender required during the term of the mortgage, or is this now pointless ? it just covers the rebuild cost of the house. this is in england (uk) if that makes any difference.

No you dont have to, but I would definitly get insurance for the house, on a replacment cost maybe for a lower policy limit which makes it cheaper, you never know what might happened i'll give you some example: 1. Fire 2. Pipe burst which cost 0000's or breakdown of the toilet causing water damage in the house. 3. wind, lightning etc....... 4. Theft, Vandalism........ 5. Collapse due to snow or damage to the buidling due to a falling object from the sky or a tree or whatever....

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I have been with my boyfriend for about 7 months now. he is not officially divorced yet, it has been going on for a year and a half now. his lawyer sucks and hers is pretty good. he filed for divorce and she is making sure she does everything she can to prolong it. she won't agree to anything he agrees to and she is asking for crazy stuff. i wont get into all the details with that it would take forever. the issue is they had bought a house together and both their names are on it but he is the primary. she has to agree to it and refinance in just her name in order to get his name off of it. well she wont agree to it. but she can't afford the monthly house payment. they have a child together...he pays her 700 dollars a month for their son. but to protect his credit since she can't afford it and wont move out...he pays 600 dollars to the mortgage company every month. she just stays at home and watches one maybe 2 kids for daycare. not enough income for sure. in one of the decrees she asked that he quick claim it to him so he gives up all rights but she asked that it be official that he has to pay 600 dollars every month until its sold. well she could make that take years if she wanted so he wont agree to it. he has offered that she move out and he moves in since he can afford it. but all she has said to that...is that she has schooling to get done with and she doesnt want to be bothered with divorce stuff right now. so do you think he should continue paying the 600 dollars every month? it will affect his credit...he has good credit right now but she has already screwed with it. some other stuff she wont agree to get his name off of it and he cant do anything about it..but she is late making payments a lot so his c redit his being hit. he can always rebuild his credit but for the most part he is just working really hard for his money to just give the extra 600 to her and he isn't getting anythiing out of it. its just free money for her. so what do you think he should do? thank you! i did want to add that they have a trial date for sometime in jan. thats the soonest they could get one here. and his lawyer is pretty sure that no judge will make him keep paying it with no end. so until then. also i know its not my fight, i just feel so bad for him. he is struggling to pay all his bills b/c of that. he is able to pay them all just has nothing left over. thanks again!

He should pay the house to the divorce goes through or he not get a mortgage in the future I think you need to stop being so blind as well she has a child she going to school and minding kids, she sounds like a good hard worker to me and how you feel if you were going to get thrown out of your home it would hurt like hell and you do all you could to slow that process down and that all she doing as she will have to leave, stop and think if you were in the important time of exams would you want to start going through the heartache and hassle of a divorce,so you need a bit more compassion, good being loyal but he was married to this person and they have a child she not going to disappear and for the child sake you need to respect it there mother even if you and her ex do not like her as this messes kids heads up big time

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My home was destroyed in a tornado. can i use the insurance money to pay off the mortgage and walk away from the property or do i have to rebuild the home. all my kids have grown and my wife and i would like to start over in arizona, but she thinks we are required to rebuild the house and then try to sell it if we want to start over.

Very simply you are not obligated to rebuild. You would be entitled to receive an Actual Cash Value settlement (Actual Cash value excluding the value of the land). If that settlement is enough to pay off your mortgage then it's "Honey, pack your bags were going to Arizona".

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I have pretty bad credit (480s probably) ... its all silly stuff/education that added up - about $10,000 worth. i own free and clear a residental/commercial property with a large house on in - been fixing up the house. i have a rebuild letter from the city, so it can be financed as a regular residental home mortage or whatever. (being its residential/commercial propery, if it burnt down - the town would only let commercial buildings be rebuilt - but with a rebuild letter - it can stay a residental or whatever i want) it was valued by the realitor at about $125,000 (and i owe nothing on it) - i would like to get a loan for $60,000 to pay off all my debts and put the rest into the home... how can i accomplish this? what companys would do this? what type of financing should i do (mortage, equity??) .. i am self employed - 2 yrs on the job

You have a multi-use property. There are plenty of lenders that will allow this type of financing. Provided all structures on the property are in acceptable 'market ready' condition. Since you have been self employed for 2 years, you would need to provide proof of income, tax returns, or bank statements for 24 months. Depending on where you fall credit wise determines the loan to value calculation and your rate. Expect your appraisal fee to be higher to cover the multi use appraisal you will need and if you rent any portion of the property (commercial end) you will need a rent comparable if you use the income to qualify for the loan. Hope this helps,

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My house burned down, about 90% destroyed, and the insurance is issuing me a check that should cover my remaining mortgage. after i pay the mortgage off, what do i do? i'm not really sure i want to rebuild the house or buy a new one because it is an investment property and with my increased insurance premium i wouldn't make a lot of money. 1) will the insurance company let me pay off the mortgage and not rebuild/repair the house? 2) what do i do with the burnt house and lot? if i keep it do i have to clear it and pay annual taxes? any help in this matter would be great, also since i've never dealt with this, any additional information i may need to know would be great.

Most insurance companies will only pay 60-70% of insured value if you do not rebuild and if you do keep the property, I can't imagine your local governing body allowing you to not clean up your mess. You will have to pay taxes on the ground only since the house is no longer there.