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Can a mortgage company come back on the estate of a deceased person when the survivor - who is not an heir with JTWROS defaults on the loan?
Wiki User
∙ 11y ago
If the decedent signed the mortgage the lender can take possession of the property by foreclosure if the mortgage isn't paid.
Whether the lender can sue the estate for any deficiency depends on several factors including the law in your jurisdiction. You should ask the attorney who is handling the estate.
If the decedent signed the mortgage the lender can take possession of the property by foreclosure if the mortgage isn't paid.
Whether the lender can sue the estate for any deficiency depends on several factors including the law in your jurisdiction. You should ask the attorney who is handling the estate.
If the decedent signed the mortgage the lender can take possession of the property by foreclosure if the mortgage isn't paid.
Whether the lender can sue the estate for any deficiency depends on several factors including the law in your jurisdiction. You should ask the attorney who is handling the estate.
If the decedent signed the mortgage the lender can take possession of the property by foreclosure if the mortgage isn't paid.
Whether the lender can sue the estate for any deficiency depends on several factors including the law in your jurisdiction. You should ask the attorney who is handling the estate.
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoIf the decedent signed the mortgage the lender can take possession of the property by foreclosure if the mortgage isn't paid.
Whether the lender can sue the estate for any deficiency depends on several factors including the law in your jurisdiction. You should ask the attorney who is handling the estate.
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If two people buy a property as joint tenants and finance it through a mortgage company and one of them dies who does the deceased property pass to?
The survivor is automatically the owner of the property and is responsible for the full amount of the mortgage.
What can the mortgage company do if the mortgage cannot be paid anymore on a deceased persons home?
I HAVE ALREADY PAID 40,000 INTI THE HOME I CANT PAY ANYMORE THE HOUSE PRICE WAS LOWERD 5X AND IT WAS ON THE MARKET 456 DAYS I MAILED IN THE KEYS TO THE MORTGAGE COMPANY WITH A LETTER
Can a mortgage company place a lien on your car if you deafult on their loan?
The property listed on the financial agreement is the collateral for the loan, when a homeowner defaults on their morgage the lender will generally pursue foreclosure.
What is mortgage insurance?
Private Mortgage Insurance is a policy that covers the mortgage company in the event the home buyer defaults on the mortgage note. It is commonly referred to as "MI" and is usually obtained through the mortgage company. Mortgage Insurance does not cover the real property but rather the Mortgage Note. It comes under the category of Contract Performance Insurance and is in the Property and Casualty line. The term "private mortgage insurance" differentiates it from government insurance. Loan products such as FHA, VA and USDA Rural Housing loans also carry insurance but it is from the government and is built into the cost of the loan, rather than being purchased seperately.Answer:It is insurance that the lender forces you to buy if you do not have enough equity in the property (usually 20%). The insurance only protects the lender in the event the borrower defaults and the foreclosure sale does not bring enough to pay off the loan.
What can a mortgage company do if mortgage had not been paid in 4 years?
What can a mortgage company do if mortgage has not been paid in 4 years
How do you know if your foreclosure will be pursued by the mortgage company?
go ask the mortgage company.
Does the mortgage company verify your income?
Yes the mortgage company verifies income.
In the state of Florida your name is on the deed but not the mortgage of your deceased husbands condo left to you in his will can the mortgage Co foreclose?
In any state, the title to the unit (deed) is held as collateral for repayment of the mortgage. This means that the mortgage company can sell the property in order to recover the amount of the loan (foreclosure). Because your name is on the title, it's possible that you can negotiate a repayment plan that is acceptable to the mortgage company, in order to retain your name on the title. Once the lender is paid, then you can sell the property and enjoy the benefits of the proceeds.
What is a chaffee mortgage?
A Chaffee mortgage is a mortgage obtained from this specific company. Chaffee is a company that will give out loans for homes to people who qualify.
What is corp adv fee?
These are any costs that a mortgage company has incurred in the collection or servicing of a mortgage. An example of a corporate advance fee would be if the second mortgage company makes a payment to the first mortgage company.
When was Franklin American Mortgage Company created?
Franklin American Mortgage Company was created in 1993.
Can a mortgage company report a foreclosure?
Yes. A foreclosure can be reported by the entity that foreclosed, by the servicing agent for the entity that owned the mortgage when it was foreclosed or by a mortgage company if it held the mortgage when it was foreclosed.
