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Can a bankruptcy that is older than 10 years affect the terms of a mortgage?
Wiki User
∙ 18y ago
any information in regards to a bankruptcy should not be on your credit report if older than 10 years. if it is, write your credit bureaus immediately and dispute the information citing the FCRA Federal law that states it maynot remain on your report after 10 years.
Wiki User
∙ 18y ago
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What happens to a home mortgage if the co-signer does not file bankruptcy but has credit problems?
It will have no affect on the mortgage as long as the lending terms are met by the primary borrower.
Can you get a remodify mortgage after bankruptcy?
If the lender agrees, of course you can remodify, but you cannot force the lender to modify the terms.
Are you required to keep home insurance after bankruptcy discharge?
If your still buying the house and you still owe the mortgage company then Yes. It is a part of your mortgage contract. Failure to comply with the terms of your mortgage contract will put you in default on your mortgage and subject you home to foreclosure. It has nothing to do with whether you filed a bankruptcy or not, it's a totally separate issue.
What do you do when your home is being foreclosed upon?
Either attempt to renegotiate the terms of your mortgage with your lender or file for bankruptcy.
Can a bankruptcy be filed on a reverse mortgage loan?
Yes, a reverse mortgage does not have credit requirements. you can use one to pay your way out of a bankruptcy, or one right after a bankruptcy. However, the bankruptcy court does have to approve the reverse mortgage if you are in the process of doing one or still paying on one.
What happens to a mortgage in chapter 11 bankruptcy?
A C-11 is normally only for Corporations. It is a re-organization type of BK. The mortgage is like any other secured debt, and the creditor will be paid by the agreed terms of the reorg or get the property.
Does the terms or the percentages change when canceling Freddie Mac private mortgage insurance on a single family home or a non owner occupied investment property?
NO.. It will not affect your mortgage interest rate.
How will the current bank rate affect the terms of my mortgage?
The current bank rate is one factor to how much interest you will pay on your mortgage. If the rate is very high, your interest will also higher, limiting how much you can take out in a mortgage and what house you can buy.
What does LP mean in the mortgage industry?
What does LP menas in mortgage terms
What happen your mortgage if you lost your incame?
If you have mortgage insurance that covers the reason of your income loss (disability, involuntary unemployment) then the insurance company will pay the premiums according to your policy's benefits schedule. If you don't have mortgage insurance, you can use savings, retirement funds, borrow money, or you can try to negociate your mortgage terms with your lender. Unfortunately, many mortgage clients believe they don't need mortgage insurance and they find themselves forced to file for bankruptcy and lose their home if something happens. The PMI (private mortgage insurance) will protect your mortgage payments and help you keep your home!
Can a lender change the terms of a mortgage deed?
change mortgage from tic to jtwrs
Where can one learn the terms related to mortgage?
Mortgage terms vary tremendously depending upon the type of mortgage and the company lending the money. All mortgages use the property as security and if the mortgage is not paid properly the property can be repossessed.
