Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: bonnuss_in_austin who wrote (16056)	3/3/2002 8:26:52 PM
From: Ilaine	Read Replies (1) \| Respond to of 74559

"Callable" means that the lender can send you notice that you must pay in full, even though you are not in default. Foreclosure is a forced sale if you are in default, e.g., don't pay the mortgage, or, if the loan is callable, don't pay in full. I just checked our mortgage, the only way it can be called is if we sell the house without notifying the lender. That means it is not assumable, but mortgages haven't been assumable for maybe 20 years. Private mortgage insurance doesn't protect the property owner, it protects the lender.