You’d undergo a brand new property finance loan application — just like the procedure in your 1st mortgage loan — for a $300,000 house loan as a substitute. The moment accredited, $two hundred,000 of that may be utilized to pay back your old mortgage, and you’ll start off making month to month payments with your new $three hundred,000 loan.
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Elk Lending, LLC is chartered beneath and operates pursuant to all relevant tribal and federal legislation. Funds borrowed from Elk Lending, LLC are governed from the federal legal guidelines plus the rules from the Tribe, not the legislation in the point out in which you reside. Nothing in this disclosure needs to be construed as being a waiver of
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