What happens to us if we want to sell a house with 2 mortgages and home equity?
We have two mortgages (1 & 2) moved, my friend has a different line of fairness. What happens to the equity loan when we sell this house yourself? Can we ask the bank loans, personal loans and to convert we will continue to pay for it? Sorry that I do not know about the issue. Basically, this house we have 3 loans: 1 Mortgage with Mortgage Company A, 2nd mortgage bank mortgage B (we have 100% financing if you buy this house) and the equity loan at a bank (the third loan that the sister my friend has something else to do.) Now we have problems with the first loan. because it is ARM (we do not know when the paper signature) to reset the rate at which we start with a problem paying for it, we just want to sell the house, but do not know what to do with the third loan .: the equity loan. For 1 and 2, we can pay the tax when banks sell ourselves short in the House and approve the issuance of the 1099-C, but because the third loan (equity loans) is another bank, we do not know if the bank agrees to sell from home or we are willing to negotiate a new loan to pay for us as a personal loan.