Profile picture for user92799310

if you owe mortgage on house and not ground sell of some ground will i get the money or mortgage co.

  • August 17 2013 - US
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Answers (3)

Profile picture for user92799310
So...once the title search is completed and it shows x amount of dollars on a mortgage, you're saying if though I sell off a portion of the ground, keep my home I'll receive the proceeds from the sell of ground? The ground is free and clear of a mortgage I just owe on the home., trying to sell of a portion to have monies to live on.
  • August 17 2013
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Profile picture for wetdawgs
If you sell a portion of the property secured by the mortgage, then you will need permission of the lender before subdividing and selling the portion the property.  
  • August 17 2013
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Profile picture for Outer Banks N C
It is unclear what you are asking. The owner always gets the money on a sale but you have to pay off the mortgage if you sell the property that is mortgaged. If you sell a part of the land you would get the money, but the bank will get upset if the land is in anyway involved in the mortgage.
  • August 17 2013
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