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family first mortgage FAQ


The bank would need to be paid off in full before you get the house. You cannot take over another person's mortgage. You can finance it by taking out another mortgage yourself, selling other assets from her estate, or having her get mortgage or other


The real answer is for her to get a term life insurance policy in the amount of the mortgage and name you as beneficiary. You would then use those proceeds to pay off the first mortgage.


yes her responsibility will end


Nope

Who is trying to convince you that she is responsible?


Yes, you would lose your first time status because there would be a mortgage in your name on your credit report. If the person refinances & takes your name off, you could regain your first time status after 3 years pass.

Just so you


As long as you declared mortgage interest on your property within the past 3 years, you are not going to qualify for the FTHB credit.

family first mortgage news

Over $18 Million Mortgages Financed in Azerbaijan in First Quarter

18.05.12

Mortgage loans worth 360 million manat have been given through the AMF between 2006 to March 2012. During January-March 2012 the total amount of refinancing the loans given by the banks hit 19.15 million manat.

The AMF has placed bonds to the sum of five million manat for the first three months of this year.

Youths and young families account for 72 per cent of the total loans (41 per cent of borrowers aged 18-29 years, 31 per cent – 30-35 years old) and 28 per cent of loans accounted for borrowers over 36 years.


Source: LoanSafe

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