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What should a letter of financial assistance from a lender or mortgagor include?
Wiki User
∙ 15y ago
= Am I the only one missing this Q? www.borrowerhotline.com is a Anti-Foreclosure auditing firm [not available to public ]...their site gives away a lot of secret insider info like acceptable letters of relief. I don't know otherwise. Maybe their web site can help you! =
Wiki User
∙ 15y ago
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Is the lender the mortgagor?
no
Is the mortgagor the lender?
yes
In Texas if a mortgagee Buyer leaves the home and the mortgagor Lender has no way of contacting the mortgagee can the mortgagor take house because of abandonment?
The borrower is the mortgagor. The lender is the mortgagee. Generally, if the mortgagor doesn't pay the mortgage the lender can foreclose as long as they reserved the right to do so in the mortgage document. Generally, legal title to real estate does not pass through abandonment.
In a mortgage who is the mortgagee?
The lender is the mortgagee. The person who borrows the money is the mortgagor.
Will a mortgagor be charged any fees by the lender if the mortgagor acquires additional adjoining property through a quit claim deed?
If the mortgagor (the person who borrowed money from a bank) acquires additional land after they have executed a mortgage, the additional land is not affected by the mortgage nor does it affect the existing mortgage. The lender has no interest in the newly acquired land unless the mortgagor executes a new mortgage that covers it.
Can a mortgage be discharged if it is assumed by the buyer?
It is up to the lender whether the mortgage can be assumed. If the lender approves the assumption it will draft documents that will free the original mortgagor from the obligation of the mortgage and the person assuming the mortgage will need to sign to assume the debt and obligations under the mortgage.The original mortgagor can't get out from under a mortgage obligation by simply selling a property that's subject to a mortgage.It is up to the lender whether the mortgage can be assumed. If the lender approves the assumption it will draft documents that will free the original mortgagor from the obligation of the mortgage and the person assuming the mortgage will need to sign to assume the debt and obligations under the mortgage.The original mortgagor can't get out from under a mortgage obligation by simply selling a property that's subject to a mortgage.It is up to the lender whether the mortgage can be assumed. If the lender approves the assumption it will draft documents that will free the original mortgagor from the obligation of the mortgage and the person assuming the mortgage will need to sign to assume the debt and obligations under the mortgage.The original mortgagor can't get out from under a mortgage obligation by simply selling a property that's subject to a mortgage.It is up to the lender whether the mortgage can be assumed. If the lender approves the assumption it will draft documents that will free the original mortgagor from the obligation of the mortgage and the person assuming the mortgage will need to sign to assume the debt and obligations under the mortgage.The original mortgagor can't get out from under a mortgage obligation by simply selling a property that's subject to a mortgage.
Can foreclosure be circumvented?
NO. When the mortgagor executed the mortgage they granted the lender the power to take possession of the property in the case of a default. You cannot "circumvent" that provision. You may be able to stop the foreclosure by paying what you owe.NO. When the mortgagor executed the mortgage they granted the lender the power to take possession of the property in the case of a default. You cannot "circumvent" that provision. You may be able to stop the foreclosure by paying what you owe.NO. When the mortgagor executed the mortgage they granted the lender the power to take possession of the property in the case of a default. You cannot "circumvent" that provision. You may be able to stop the foreclosure by paying what you owe.NO. When the mortgagor executed the mortgage they granted the lender the power to take possession of the property in the case of a default. You cannot "circumvent" that provision. You may be able to stop the foreclosure by paying what you owe.
What is a consumer finance company good for?
The utmost and sole purpose of a financial company is a lender that ensures customers has the assistance they need to prevent them from getting into further debt.
What does it mean to be a title theory state in Michigan?
In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.
Can you get a reverse mortgage after getting a home equity loan?
Generally, no. The lender in a reverse mortgage wants to be able to obtain clear title to the home upon the death of the mortgagor or if the mortgagor defaults on the terms. It does not want to be in second place regarding another lien.
What happens if the person filing for foreclosure dies?
A person doesn't "file for foreclosure". A bank or other lender takes possession of property by foreclosure procedure after the owner (mortgagor) of the property has defaulted on the mortgage. The procedure varies in different states. If the mortgagor dies during the foreclosure proceeding the lender can continue the foreclosure process against the estate. The death of the mortgagor may delay the proceedings until the heirs have been given notice of the foreclosure, depending on how far along the foreclosure has progressed. If the mortgagee (lender) dies during the foreclosure proceeding their estate representative can continue the foreclosure once appointed by the court.
Is there an equity of redemption for a second mortgage holder in Connecticut?
Equity redemption is a right that only applies to owner/mortgagor/borrower not lender/mortgagee; therefore, the answer is NO.
