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If a mobile home is not attached to Arizona real property and you default on the mobile home what can the mortgage holder do?
Wiki User
∙ 14y ago
In short. repossess and pull the home off the property..
However, you have not made it clear who owns the land. If a third party owns the land, most if not all lenders will ask to the land owner if they are interested in leasing the land to a new owner, in which case the lender saves thousands.
Wiki User
∙ 14y ago
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What is suborination and non disturbance agreement?
The correct term is "subordination". This is an agreement signed by a tenant and landlord of commercial property which is a recognition on the part of the tenant that the lease is subordinate to any mortgage which the landlord has or may in the future place on the property. Lenders sometimes want this so that the tenant recognizes that the lease does not have priority over a mortgage granted by the lender. The non disturbance agreement generally signed by the lender and/or landlord which indicates that so long as the tenant is not in default of the lease, the possession of the tenant will not be "disturbed" or in other words, the tenant will be allowed to remain in the premises even if the landlord should be in default of the mortgage.
What does default notice not entered mean?
What is next after notice of default is entered
What if the title insurance company does not record the deed?
If the title company fails to file a conveance deed or a security instrument of record in the county that the property is in you will need to file a claim with your owner's title policy or the lender would need to file a claim on their mortgagee policy
Can you repossess a sign that a customer has not paid for?
Either that, or put a lien on the property or business involved. Until it's paid for, you own it. You may have to wait a certain amount of time before the customer is considered to be in default, though, so check your work order or contract with the party involved.
My mobile home is on some else's land If that land is foreclosed on does my home become part of the foreclosure?
Not unless the mobile home was part of the collateral offered for the loan that is in default or. For example, if the lender gave money to a borrower and secured a lien against land, then you placed the mobile home on the property, the mobile home is your property and was not part of the defaulted loan. You will be required to vacate the land, but should be able to take the mobile home assuming it belongs to you. Generally, true mobile homes are not real estate, they are personal property. A mobile home can become real estate if it is built after the 1970s, has a HUD sticker, is on a foundation and the owner pays property taxes. If this occured and was owned by person who defaulted on the loan, it might be part of defaulted loan. There may be a trustee of record for the foreclosure, if you are unsure about your rights you may contact them or an attorney for information
If a mobile home is not attached to Texas real property and I default on the mobile home what can the mortgage holder do?
Take the mobile home back and sell it.
Do you have to declare bankruptcy if you default on your mortgage?
No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.
Can spouse refinance home in his name only?
All the owners of the property must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.All the owners of the property must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.All the owners of the property must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.All the owners of the property must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.
When there are two names on a deed can one get a mortgage loan or do both parties have to sign for the loan?
Al the owners must sign the mortgage or the bank will not be able to foreclose on the property in case of a default. If there is another owner you cannot grant a mortgage on their interest in the property.Al the owners must sign the mortgage or the bank will not be able to foreclose on the property in case of a default. If there is another owner you cannot grant a mortgage on their interest in the property.Al the owners must sign the mortgage or the bank will not be able to foreclose on the property in case of a default. If there is another owner you cannot grant a mortgage on their interest in the property.Al the owners must sign the mortgage or the bank will not be able to foreclose on the property in case of a default. If there is another owner you cannot grant a mortgage on their interest in the property.
When refinancing mortgage do both spouses have to be on mortgage in TN?
If both are on the deed then both must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.If both are on the deed then both must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.If both are on the deed then both must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.If both are on the deed then both must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.
Can anyone mortgage any property without the signature of the registered owner or does it require the signature of the owner?
Of course not. When a property owner gives a mortgage to the bank they must sign over an interest in their property so that if they default on the mortgage the bank can take possession of the property by forelosure. You cannot pledge property as security for loan if you don't own the property. Granting a mortgage to a lender requires the consent and signature of the owner.Of course not. When a property owner gives a mortgage to the bank they must sign over an interest in their property so that if they default on the mortgage the bank can take possession of the property by forelosure. You cannot pledge property as security for loan if you don't own the property. Granting a mortgage to a lender requires the consent and signature of the owner.Of course not. When a property owner gives a mortgage to the bank they must sign over an interest in their property so that if they default on the mortgage the bank can take possession of the property by forelosure. You cannot pledge property as security for loan if you don't own the property. Granting a mortgage to a lender requires the consent and signature of the owner.Of course not. When a property owner gives a mortgage to the bank they must sign over an interest in their property so that if they default on the mortgage the bank can take possession of the property by forelosure. You cannot pledge property as security for loan if you don't own the property. Granting a mortgage to a lender requires the consent and signature of the owner.
Can a joint mortgage be renewed by one person?
A mortgage must be signed by all the owners of the property. One co-owner cannot mortgage the property because the lender needs to have the right to take the property by foreclosure in case of a default. If all the owners didn't sign the mortgage the bank cannot take full possession of the property.A mortgage must be signed by all the owners of the property. One co-owner cannot mortgage the property because the lender needs to have the right to take the property by foreclosure in case of a default. If all the owners didn't sign the mortgage the bank cannot take full possession of the property.A mortgage must be signed by all the owners of the property. One co-owner cannot mortgage the property because the lender needs to have the right to take the property by foreclosure in case of a default. If all the owners didn't sign the mortgage the bank cannot take full possession of the property.A mortgage must be signed by all the owners of the property. One co-owner cannot mortgage the property because the lender needs to have the right to take the property by foreclosure in case of a default. If all the owners didn't sign the mortgage the bank cannot take full possession of the property.
Are mortgage bonds secure bonds?
A mortgage bond is a bond secured by a mortgage on one or more assets and are typically backed by real estate holdings. In a default situation, mortgage bondholders have a claim to the underlying property and could sell it off to compensate for the default. However, the value of the property may decline.
Can i be kicked out o my property in Fla if my house is own private property?
Yes. If you are in default with your mortgage or taxes for instance.
What happens if you don't pay the mortgage?
You would be in default of the mortgage and the bank will take possession of the property by foreclosure. You would lose your home.
What rights does the second mortgage holder have if the first mortgage payments are up to date?
If the second mortgage is in default the second mortgagee can foreclose and take possession of the property subject to the first mortgage.
Can one person remortgage when two people are on the deed?
No. All the owners of the property must sign the mortgage so the lender can take possession of the property in the case of a default.No. All the owners of the property must sign the mortgage so the lender can take possession of the property in the case of a default.No. All the owners of the property must sign the mortgage so the lender can take possession of the property in the case of a default.No. All the owners of the property must sign the mortgage so the lender can take possession of the property in the case of a default.
