Even after you’ve paid off your home, you can still borrow against your home’s equity. There are several ways to tap your equity when you’re mortgage-free, including with a home equity loan ...

But now that your mortgage is paid off, your lender will close your escrow account and send you the remaining balance. And you'll be responsible for paying your insurance and taxes on your own.

Key Takeaways Once your mortgage is paid off, you'll receive a confirmation from your lender. You're now responsible for paying your homeowners insurance and property taxes.

Question from Paul: I soon will be making the final mortgage payment on my home. Never having done this before, I'm not sure what happens next. Will the bank send me a deed to my home showing the ...

Inspection Contingencies In the home buying process, inspections are for your benefit, as the buyer. They allow you to get a full picture of the condition of the home that you intend to purchase.

A home mortgage will have either a fixed or floating interest rate, which is paid monthly along with a contribution to the principal loan amount. In a fixed-rate mortgage, the interest rate and ...