0
No. The bank owns the mortgage and can assign its interest in and rights under the mortgage to another entity. However, the assignee cannot change the terms of the mortgage and the assignment must be recorded in the land records so the holder by assignment can be identified.
No. The bank owns the mortgage and can assign its interest in and rights under the mortgage to another entity. However, the assignee cannot change the terms of the mortgage and the assignment must be recorded in the land records so the holder by assignment can be identified.
No. The bank owns the mortgage and can assign its interest in and rights under the mortgage to another entity. However, the assignee cannot change the terms of the mortgage and the assignment must be recorded in the land records so the holder by assignment can be identified.
No. The bank owns the mortgage and can assign its interest in and rights under the mortgage to another entity. However, the assignee cannot change the terms of the mortgage and the assignment must be recorded in the land records so the holder by assignment can be identified.
No. The bank owns the mortgage and can assign its interest in and rights under the mortgage to another entity. However, the assignee cannot change the terms of the mortgage and the assignment must be recorded in the land records so the holder by assignment can be identified.
Add your answer:
Earn +20 pts
Can you reduce monthly mortgage by reducing percentage going to principal?
Yes, but your lender has to agree to it.
Can the executor assume the mortgage of the deceased?
The executor must discuss that with the lender. If the executor is going to inherit the property the lender may agree to allow an assumption of the mortgage.
Can a person agree to keep on paying for certain obligations such as a home mortgage?
A person who executed a mortgage has already agreed to be responsible for paying it until it is paid off.
How does cosigning for a mortgage differ from a joint mortgage?
A joint mortgage is executed by two people who own real estate. Each is responsible for paying the mortgage in full.A co-signer has no ownership interest in the property but they have agreed to pay off the mortgage if the primary borrower fails to pay. In other words, they agree to pay the mortgage for property they don't own.
Can a person agree to keep on paying certain obligation such as a home mortgage?
If two people owe a mortgage and one agrees to pay it, the bank is under no obligation to free the other person from their obligations under the mortgage. If the person fails to make the payments both mortgagors will be held equally responsibility for paying the mortgage and in the case of a default it will be reported on both credit records. The answer is yes, a person can agree to keep paying a mortgage but their agreement will have no effect on the obligations of both mortgagors.
Do both borrowers of mortgage have to be on the land deed?
Your question needs to be turned around. A person who has no ownership interest in the property should NOT sign a mortgage. When you sign a mortgage you agree to be responsible for paying the debt. If the homeowner defaults on the mortgage the lender will go after you to pay the debt if you signed the mortgage, even if you don't owe the property. It is not a wise decision to offer to pay for something you don't own.
Do you have to pay your mortgage when you short sale your home?
From what I understand the bank has to agree to the short sale and then takes that as the mortgage paid.
Need to get your ex-spouse off the mortgage but you are not approved to re-finance?
The lender must agree, and is unlikely to agree if you cannot refinance.
Types of Mortgage Debt Relief?
When the real estate market is in the client, many homeowners find themselves in a situation where mortgage debt relief could be beneficial. When homeowners are upside down on their homes, they often need assistance to avoid losing their homes to foreclosure. In the situation, there are a few different types of mortgage relief that homeowners could turn to. One option that homeowners should consider is a loan modification. With a loan modification, the borrower talks to the lender and attempts to change some of the terms of the mortgage loan. For instance, the lender may agree to lower the interest rate or extend the repayment term so that the monthly payment is smaller. This option can help the homeowner as it makes the payment more affordable, but it also can damage the homeowner's credit history. Another option that a homeowner could consider is a refinance. When a homeowner is close to losing the home because he is late on mortgage payments, refinancing the mortgage loan can be beneficial. Most traditional mortgage lenders will not pursue this type of deal, because of the risk involved. However, some hard money lenders and other mortgage lenders may consider offering a refinance. With this option, the delinquent loan is paid off and then the new loan begins. Some lenders will offer homeowners who are in financial trouble a chance to get a deferment. With a deferment, the delinquent amount is added to payments over a certain period of time. For example, the lender may take the mortgage payments that were missed and spread them out over two or three years worth of payments. This increases the monthly payment for the homeowner slightly, but it gives them a chance to repay the amount that was missed. The government also has some programs that are designed to help homeowners who are in trouble. For example, the Home Affordable Refinance Program is one that makes it possible for homeowners who owe more than their homes are worth to refinance their mortgages. Regardless of the situation you are in with your mortgage, you should be able to find some options that can help overcome the problem.
Can you reduce monthly mortgage by reducing percentage going to principal?
Yes, but your lender has to agree to it.
Does the Deed holder on a home have full ownership even if their name is not on the mortgage?
The grantee in the deed is the owner of the property. A person who does not own the property can agree to sign the mortgage and be responsible for paying for the property. That does not give them an ownership interest.The grantee in the deed is the owner of the property. A person who does not own the property can agree to sign the mortgage and be responsible for paying for the property. That does not give them an ownership interest.The grantee in the deed is the owner of the property. A person who does not own the property can agree to sign the mortgage and be responsible for paying for the property. That does not give them an ownership interest.The grantee in the deed is the owner of the property. A person who does not own the property can agree to sign the mortgage and be responsible for paying for the property. That does not give them an ownership interest.
Can the executor assume the mortgage of the deceased?
The executor must discuss that with the lender. If the executor is going to inherit the property the lender may agree to allow an assumption of the mortgage.
Can a person agree to keep on paying for certain obligations such as a home mortgage?
A person who executed a mortgage has already agreed to be responsible for paying it until it is paid off.
How does cosigning for a mortgage differ from a joint mortgage?
A joint mortgage is executed by two people who own real estate. Each is responsible for paying the mortgage in full.A co-signer has no ownership interest in the property but they have agreed to pay off the mortgage if the primary borrower fails to pay. In other words, they agree to pay the mortgage for property they don't own.
Does a quick claim deed take your name off the mortgage?
No. If you signed a mortgage while you owned the property then you are responsible for that mortgage until it is paid off. If you agree to transfer your interest to a co-owner you should make an agreement that the mortgage must be refinanced in the new owner's name alone. You should consult with an attorney to protect your legal interests.No. If you signed a mortgage while you owned the property then you are responsible for that mortgage until it is paid off. If you agree to transfer your interest to a co-owner you should make an agreement that the mortgage must be refinanced in the new owner's name alone. You should consult with an attorney to protect your legal interests.No. If you signed a mortgage while you owned the property then you are responsible for that mortgage until it is paid off. If you agree to transfer your interest to a co-owner you should make an agreement that the mortgage must be refinanced in the new owner's name alone. You should consult with an attorney to protect your legal interests.No. If you signed a mortgage while you owned the property then you are responsible for that mortgage until it is paid off. If you agree to transfer your interest to a co-owner you should make an agreement that the mortgage must be refinanced in the new owner's name alone. You should consult with an attorney to protect your legal interests.
If you are added to mortgage but not title can other person sell?
You should not be "added to the mortgage" if you're not an owner of the property. By signing a mortgage you agree to be liable for payment of the underlying debt for property that you don't own. If the mortgage goes into default the bank will go after you for payment and your credit will be ruined.
Can a person agree to keep on paying certain obligation such as a home mortgage?
If two people owe a mortgage and one agrees to pay it, the bank is under no obligation to free the other person from their obligations under the mortgage. If the person fails to make the payments both mortgagors will be held equally responsibility for paying the mortgage and in the case of a default it will be reported on both credit records. The answer is yes, a person can agree to keep paying a mortgage but their agreement will have no effect on the obligations of both mortgagors.
