Arizona has anti-deficiency laws - specifically, A.R.S. §§ 33-729(A) and 33-814(G) - that prohibit purchase-money lenders from collecting on a deficiency. However, the bad news is that the anti-deficiency protection often does not apply to second mortgages, equity lines of credit, some refinanced loans, etc. In those exceptions, generally the only relief is achieved through bankruptcy.
That depends on the state, and whether the financing was "non-recourse". The process you want to find out about is known as a "deficiency judgment".
Mortgage websites are used for calculating whether you qualify for a mortgage loan. They can determine if your credit history meets the requirements for approval.
The type of deed will determine what happens to the property after her death. If there is a right of survivorship, you will get the house. The mortgage company determines whether you keep the mortgage or have to refinance.
Go to a bank and apply for a loan. They will run a credit check and determine whether or not to give you a loan on the house. You might also consider a reverse mortgage, that gives you some money each month.
What matter is the balance on the mortgage and the rate at which you will refinance. Any lender can help you determine those figures and whether there will be any long-term savings to you after closing costs are figured in. You'll need original documents from your current mortgage so take those along.
http://www.sandiegopredatorylending.com/ "The big mistake homeowners make is turning a "non-recourse" second loan into a "recourse" loan by refinancing it. A non-recourse loan is a loan that the bank can only look to their secured interest. So how is a second mortgage a non-recourse loan? Simple, it was "purchase money" for your home. A purchase money loan is one where the money went from the lender, to escrow, and then to the seller or to pay purchase closing costs. In California purchase money loans made on your home (note: not second home or investment properties) are non-recourse. It's simple as that." Also, it's California state law. It may not be explicitly written in the loan documents. Check out California Code of Civil procedure section 580b: http://www.legaltips.org/california/california_code_of_civil_procedure/577-582.5.aspx " 580b. No deficiency judgment shall lie in any event after a sale of real property or an estate for years therein for failure of the purchaser to complete his or her contract of sale, or under a deed of trust or mortgage given to the vendor to secure payment of the balance of the purchase price of that real property or estate for years therein, or under a deed of trust or mortgage on a dwelling for not more than four families given to a lender to secure repayment of a loan which was in fact used to pay all or part of the purchase price of that dwelling occupied, entirely or in part, by the purchaser. Where both a chattel mortgage and a deed of trust or mortgage have been given to secure payment of the balance of the combined purchase price of both real and personal property, no deficiency judgment shall lie at any time under any one thereof if no deficiency judgment would lie under the deed of trust or mortgage on the real property" or estate for years therein.
The total stock of mortgages outstanding in the US is about $10 trillion. However, the market value of these mortgages (whether still on banks' balance sheets or securitised and embedded in RMBS (Residential Mortgage Backed Securities)) is in reality lower by $1-1.2 trillion, due to the fact that U.S. homeowners can walk away from their mortgage leaving the lender with "no recourse". In other words, book mortgage value = about $10 trillion, while actual value is more likely $8.8 trillion to $9 trillion, due to losses on foreclosures. The total stock of mortgages outstanding in the US is about $10 trillion. However, the market value of these mortgages (whether still on banks' balance sheets or securitised and embedded in RMBS (Residential Mortgage Backed Securities)) is in reality lower by $1-1.2 trillion, due to the fact that U.S. homeowners can walk away from their mortgage leaving the lender with "no recourse". In other words, book mortgage value = about $10 trillion, while actual value is more likely $8.8 trillion to $9 trillion, due to losses on foreclosures.
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.
The answer depends on whether you are the lender or the borrower and also in the country that you get the mortgage in.
The composition of the rock will determine whether it is a rhyolite or an andesite.
Yes. Whether you have a mortgage or not or where you got it is not relevant.
Yes, a lien is put on your home because you have liability and it doesn't matter whether you have mortgage or not.