You could take a new mortgage on the paid-off property and use the funds to pay off the other mortgage, but you would incur all the fees associated with taking a new mortgage and it would be issued based on current interest rates.
No but if you have the credit and income then you can take out a mortgage on the new property and then use those funds to pay off the other mortgage. The new mortgage will cost you a few 1000 in closing costs.
Answers & Comments
Why????? Once a property is paid off - it's paid off and nothing is due on it. Besides, your mortgage company would NEVER allow this.
Short simple answer...no. Sorry.
No you can't. Sorry! On your Deed and Note for the mortgage it has the property address. They can never be transferred.
You actually own multiple rental properties and think you can simply transfer a mortgage huh??
No, you cannot.
No,
You could take a new mortgage on the paid-off property and use the funds to pay off the other mortgage, but you would incur all the fees associated with taking a new mortgage and it would be issued based on current interest rates.
No, you cannot transfer a mortgage.
No but if you have the credit and income then you can take out a mortgage on the new property and then use those funds to pay off the other mortgage. The new mortgage will cost you a few 1000 in closing costs.
no............................
Not without the agreement, in writing, of the finance company the mortgage is from, no.