If house is on market can I stop mortgage pmt

[tiffanys]

What is the name of your state?pa
if I list my home on the market, and move into another place, can I be relieved from paying the mortgage on the house that is for sale? and then pay the bank when it sells the balance owed? I sure hope so I have an opurtunity to get another house, but mine isnt even on the market yet, and
who can afford two mortgage payments.
tif

 

[PghREA]

No - You are the owner and must pay the mortgage payments until the home is sold and you and the buyer sign the deed at closing.

 

[HomeGuru]

What is the name of your state?pa
if I list my home on the market, and move into another place, can I be relieved from paying the mortgage on the house that is for sale?

**A: of couse not, read your mortgage note.
***********
and then pay the bank when it sells the balance owed?

**A: nice idea but no lender has that scenario in their mortgage.
*********
I sure hope so I have an opurtunity to get another house, but mine isnt even on the market yet, and
who can afford two mortgage payments.
tif

**A: then do not put the cart before the horse.

 

[Rhubarb297]

What is the name of your state?pa
if I list my home on the market, and move into another place, can I be relieved from paying the mortgage on the house that is for sale? and then pay the bank when it sells the balance owed? I sure hope so I have an opurtunity to get another house, but mine isnt even on the market yet, and
who can afford two mortgage payments.
tif

Hey, I bet "seniorjudge" can even get this real estate question right. The answer is "no."

 

[seniorjudge]

What is the name of your state?pa
if I list my home on the market, and move into another place, can I be relieved from paying the mortgage on the house that is for sale? and then pay the bank when it sells the balance owed? I sure hope so I have an opurtunity to get another house, but mine isnt even on the market yet, and
who can afford two mortgage payments.
tif

Is your current house listed with a real estate agent?

 

[BradleyS]

Is your current house listed with a real estate agent?

PLEASE GOD.......I hope he doesn't have a RE agent/broker.....

 

[Bigfoot]

Although you may have lots of money, a smart lender may help you by not loaning you the money for the second dwelling. If you stop paying on the first, you'll likely ruin your credit by way of late charges, etc. And if a lender loans you the money for the second dwelling, you stand a good chance of losing both properties.

 

[HomeGuru]

Hey, I bet "seniorjudge" can even get this real estate question right. The answer is "no."

**A: Rhutard strikes again.