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Is it illegal for a property management company of a condominium complex to withhold an agreement from FHA unless they receive a confidentiality agreement from the mortgage company?
Wiki User
∙ 8y ago
The association's board is in charge of sharing association details with the FHA. This is their decision to make, not a decision to be made by the vendor.
Wiki User
∙ 8y ago
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Can condo foreclose over a lender?
It is possible that both entities -- the association and the mortgage holder -- have vested, monetary interests in a condominium unit.There may be no 'priority' as to which entity forecloses first, but your state law may dictate which entity occupies the 'priority' position insofar as the distribution of funds are concerned when the property is sold.A local, association-savvy attorney can answer the specifics of your question.AnswerGenerally, a lender will make certain there are no outstanding condominium fees or assessments due before granting the mortgage. The banks require a certificate of no unpaid charges as part of any mortgage transaction. That is the main purpose of the title examination performed for any property that is the subject of a pending mortgage, i.e., to make certain there are no prior encumbrances. The lender wants to make certain it's lien is senior.If a lien arises for unpaid condominium fees or assessments after a mortgage is granted, the lien is subject to the mortgage. If the condominium forecloses on a condominium lien for a unit that is subject to a prior mortgage, the condominium would acquire the unit subject to the mortgage.
When re-financing a mortgage on a co-op apartment who signs the recognition agreement the co-op board president or the management company?
Your lender can answer this question for you, with specifics.
If your mortgage broker was not yet licensed can you get out of the mortgage you signed the broker told me this in confidentiality Michigan laws?
i was told that this would not be a legally binding contract.
What is the average mortgage for a one bedroom condominium in the state of New Jersey?
A banker in New Jersey can answer your question.
What can you do if a house is purchased with a fixed rate loan and the mortgage is reassigned to another lender and that lender changes the loan to an ARM?
First of all, you signed an agreement with a fixed rate, and just because it was sold does not mean they have the right to change the mortgage agreement. If you signed a new mortgage agreement stating the new agreement then you are liable for that, but you can call your mortgage company and tell them you have a copy of the agreement you signed and, that you didn't agree to an arm. To sum it up, unless you re-signed a mortgage agreement, they DO NOT have the right to change anything just because they have baught your mortgage from your original mortgagor. Please do not let them run you over. Good luck.
Can you take your partners name of a joint mortgage if they are not paying their half of the mortgage as per agreement?
no
Can you use your previous rental payments to pay towrad a down payment on a mortgage?
No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.
What is the meaning of the word mortgage?
I believe Mort is a French word meaning "death" and gage means "pledge or agreement" So the meaning of the work Mortgage is an "agreement till death."
What is a condominium association exclusion rider bond?
When you purchase a condominium and grant a mortgage one of the documents you will be required to sign in connection with your loan is a "Condominium Rider." This rider is an attachment to the document recorded in the land records to secure your loan.
What can you do if your mortgage company requires a reaffirmation agreement for a loan modification but your lawyer said it was not needed so you did not do one?
If your mortgage company requires a reaffirmation agreement but you did not do it based on the advice of your lawyer, talk to the mortgage company and explain to them why you didn't do it. The lawyer should contact them for you and explain that these documents are not needed. In some cases it can be easier just to sign the reaffirmation agreement as the mortgage company is requesting.
Who is the mortgagors'?
The borrower in a mortgage agreement. Sometimes spelled mortgager.
How many times can you modify your mortgage?
As long as both parties are in agreement, there is no limit to the number of times a mortgage can be renegotiated.
