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Can a bank foreclose if you dont pay on a second mortgage?
Yes. The bank could foreclose and take possession of the property subject to the first mortgage.
Is a home equity loan considered a refinance?
No. It is home equity line of credit that is secured by your home. You use it to buy things and if you buy too much and can't make the payments the bank can foreclose and take your home.
If a husband dies will a wife be responsible for the mortgage debt even if she is not on the note?
His estate will be responsible for the mortgage. Assuming the wife is not on the deed, if the mortgage isn't paid the bank will foreclose and take possession of the property covered by the mortgage. If the wife is on the deed and she consented to the mortgage the bank can foreclose. If she is on the deed and did not consent to the mortgage then the bank had a defective title and may not be able to foreclose.
What can you take from a foreclosed home?
You can take anything that was owned prior moving into the foreclosed home. Foreclose is a hard task and will not benefit anyone.
What happens if you can't pay your second mortgage?
The lender can foreclose and take possession of your property subject to the first mortgage.The lender can foreclose and take possession of your property subject to the first mortgage.The lender can foreclose and take possession of your property subject to the first mortgage.The lender can foreclose and take possession of your property subject to the first mortgage.
If you own two homes can you foreclose on one and the bank not take the new one your living in?
The bank will only take the home they foreclose.
Can a bank foreclose if you dont pay on a second mortgage?
Yes. The bank could foreclose and take possession of the property subject to the first mortgage.
If you don't pay can they take your home?
The IRS could get a lien on your home for failing to pay any income taxes that may be due. If there is a federal tax lien on your home, you must satisfy the lien before you can sell or refinance your home.
When you do not include your house in a bankruptcy and then get a loan modification but still cannot pay the monthly payment can the bank take your house if you pay something on it every month?
Yes, if you are not making payments on your home, the bank can foreclose. Even if you are paying something, if you are not paying the amount agreed to in the loan modification or original contract, the bank can foreclose. If bankruptcy is active, they may need permission from the court but if payments are not being made in a timely fashion the court generally grants permission to foreclose. The moral of the story - make your payments or the bank can foreclose!
Is a home equity loan considered a refinance?
No. It is home equity line of credit that is secured by your home. You use it to buy things and if you buy too much and can't make the payments the bank can foreclose and take your home.
How long does it take the bank to foreclose a property when owner dies in California?
2yers later
Can a secured creditor demand there furniture back in discharge?
They can "demand" but they cannot force you to return furniture. However, if a creditor has a security interest in the furniture, then can foreclose (i.e. take back) the furniture if you fail to make payments.
If a husband dies will a wife be responsible for the mortgage debt even if she is not on the note?
His estate will be responsible for the mortgage. Assuming the wife is not on the deed, if the mortgage isn't paid the bank will foreclose and take possession of the property covered by the mortgage. If the wife is on the deed and she consented to the mortgage the bank can foreclose. If she is on the deed and did not consent to the mortgage then the bank had a defective title and may not be able to foreclose.
What can you take from a foreclosed home?
You can take anything that was owned prior moving into the foreclosed home. Foreclose is a hard task and will not benefit anyone.
Can you get a Home Equity Loan on a home held in trust?
The trust (and trustees) might be able to get such a loan, provided the terms of the trust are examined by the bank and found to permit the bank to foreclose (take possession) of the home in case of default. Some lawyers insert restrictions on the type of risks that can be taken with property held in trust for others.
If we have a Joint mortgage one dies no insurance can lender foreclose?
If two people granted the mortgage and one dies the other is responsible for paying the debt. If the debt is not paid the bank can foreclose and take possession of the property.
What happens if you can't pay your second mortgage?
The lender can foreclose and take possession of your property subject to the first mortgage.The lender can foreclose and take possession of your property subject to the first mortgage.The lender can foreclose and take possession of your property subject to the first mortgage.The lender can foreclose and take possession of your property subject to the first mortgage.
