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tear down and build new

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stephen

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Post Posted: Sun Sep 20, 2009 5:08 pm    Post subject: tear down and build new
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In Texas, if I have an A 6 mortgage, and want to tear down, and build new on the lot, with a construction interim loan and then a permanent mortgage
that includes the original A 6 amount and the construction money, what is the process?

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Icon Mini Profile sunnyca2009





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Post Posted: Sun Sep 20, 2009 6:11 pm    Post subject:
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Have you called yoru current lender?
Icon Mini Profile gunzijjistaff
gunz.ijjistaff




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Post Posted: Sun Sep 20, 2009 9:26 pm    Post subject:
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Yes, You have to contact your lender if you has not pay off him. Inform to your lender before doing anything with property.

Thanks & Regards,
gunz.ijjistaff
E. Rodriguez

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Post Posted: Thu Sep 23, 2010 10:45 am    Post subject: Thinking of building on lot I have mortgage on
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I am thinking of selling the house I have on my property to be moved and building on it, but I am not sure if I can do this. I do have a mortgage on it. Can I do this?
Icon Mini Profile jerry
jerry
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Post Posted: Fri Sep 24, 2010 2:39 am    Post subject:
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Hi Rodriguez,

You will be able to sell off the property but you need to pay off the mortgage in full once the property is sold off. Once you sell off the property and pay the dues in full, you can build a new home on the lot.

Thanks,

Jerry
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