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What happens when someone has been approved for a mortgage but dies before the sale closes?
Wiki User
∙ 18y ago
The contract becomes null and void.
Wiki User
∙ 18y ago
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Can a mortgage be omitted from probate if the property was deeded to someone else before death?
No, the mortgage is a debt of the estate. That mortgage must be resolved before the property can be transferred.
How long do you have to wait before buying a house under a Chapter 13?
Any new debt, including a mortgage, must be approved by the judge. That shouldn't be a problem if your mortgage payments are the same or smaller than your rent. Most lenders will not make a mortgage loan to someone in Ch 13 but VA and FHA loans are a possibility.
Can chapter13 mortgage payments be modified?
Chapter 13 mortgage payments can be modified. The trustee must agree to new terms before a modification can be approved. However, a lender can object and appeal the modification.
What happens if your spouse dies you're not on the mortgage but have the deed in your name?
Generally that means the mortgage was given to the bank before your name went on the deed. In that case you need to pay the mortgage or the bank will take the property by foreclosure.
What happens before someone uses steroids?
That someone procures the steroids and prepares them for consumption.
What do you do when a person dies owing a mortgage and he conveyed the property before he died to someone who is not on the mortgage?
The property is still subject to the mortgage. The grantee should make arrangements with the bank to assume the mortgage. Some mortgage documents contain language that a transfer of the property will trigger a demand that the mortgage be paid in full. You should speak to the bank ASAP. Or, the grantee could just keep paying the mortgage.
Is it true that baptism happens just before someone dies?
no
Can you get a mortgage commitment before a title search?
Generally, the title examination isn't ordered until there has been mortgage commitment. The reason is that people (buyers) don't want to pay for a title examination if the mortgage isn't approved. However, some lenders give a preliminary commitment that depends on the title being free of defects. In that case they want the title report a couple of weeks before the closing is scheduled.
What kind of Trust Fund do I set up to pay a mortgage so I do not have to refinance my mortgage once divorced?
If i were you i would not get divorced in the first place you better get here back before she marry someone else
What happens when the homeowner dies and has PMI insurance before the mortgage is paid in full?
PMI has absolutely nothing to do with the death of a home owner. There is no benefit to the PMI in this situation. A Mortgage Life Insurance policy would be of great benefit as it would pay off the mortgage on the house at the death of the homeowner.
Do you need to get pre-approved for a mortgage loan before you make an offer on a house?
yes, would you write a check for something without knowing if you had the money to cover it? same principal. You do not need to, but it would be stupid not to.
What happens before someone is born a lesbian?
before people are born, they spend 9 months in a uterus.
