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Will certain mortgage companies pay you to vacate a property if you are getting foreclosed on?
Wiki User
∙ 14y ago
Yes, this is called a "cash for keys" deal.
Banks may offer these types of deals to the homeowners to entice them to leave the property voluntarily without causing any damage.
The typical process is that a local real estate agent will visit the borrowers to offer them a few hundred or a few thousand dollars to leave the property and turn over the keys.
Before the homeowners are given the check, the real estate agent is given the keys and can quickly inspect the property to make sure it has not been damaged. If all is well, the borrowers get some extra money to move out.
These types of deals are not that uncommon.
Wiki User
∙ 14y ago
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You are on the deed but not the mortgage. Can you pay the mortgage without being on the mortgage if you want to keep the house?
You can make mortgage payments if you're not on the mortgage. However, you would be a volunteer and paying the mortgage in and of itself wouldn't give you any interest in the property. You would be paying for someone else's property.However, if your name was added to the property after the mortgage was granted you would be protecting your interest in the property by making certain the mortgage is paid on time.
Which companies offer loans for building a farm house for personal use on an ancestral property?
Is there a farm loan on the property. If not many banks and mortgage banks treat it as rural property outside of certain city boundries etc. Check National City Mortgage for there constructions perms and see if they will lend in your area. If you ask around it will not be hard to find a lender. Try the above and then your local Banks in the area of the Land.
What is a fixed mortgage and how can you obtain one?
A fixed mortgage rate is where the payments are the same for the entire term of the mortgage, as apposed to adjustable rates which can fluxuate at certain times. Most reputable Mortgage and Loan companies offer fixed rate mortgages.
What if your son holds the deed but you hold the mortgage do you have any rights in the house?
No. Not unless your son defaults on the mortgage. In the case of a default you must make certain the mortgage document contained the right to foreclose and if so then you must foreclose on the mortgage in order to get possession of the property. If you did foreclose your son's title to the property would be transferred to you and he would no longer own it.
What is the difference between mortgage and pledge?
The differences between a mortgage and a pledge:1. The Security in Mortgaged is an immovable property, while in a pledge it is a movable property.2. In a pledge the ownership of the pledged property remains with the debtor (the pledgor or borrower). In a mortgage, the ownership of the mortgaged property is transfered to the creditor (banker or mortgagee).3. Delivery of the property is essential to a pledge; hence the goods delivered by the pledgor or borrower will be in the custody of the banker. But, in a mortgage, the possession of the property will be with the borrower.4. In a pledge, the banker (pledgee) can sell the pledged property without the intervention of the Court. In a mortgage, except in English mortgage, a mortgagee can sell the property only with the permission of the Court.5. A pledgee does not have the right of foreclousure (i.e. cannot debar the pledgor or the borrower from taking or redeeming the pledged property). But, in a mortgage, a mortgagee (borrower) has the right of foreclousre, i.e., can debar the borrower from taking back the mortgaged property under certain circumstances.M.J.SUBRAMANYAM, XCHANGING, BANGALORE
What are the features of a Lifetime mortgage?
A lifetime mortgage allows property owners with equity in their homes to borrow a certain percent of that property's value as a lump sum followed up by the option of flexible cash withdrawals, which in effect releases their equity at the time of the loan and in the future as well.
Can you please explain what truck tracking is?
Truck tracking is provided through certain trucking companies. These companies use a GPS device and have it installed in certain trucks to always know where their property is located.
Is the mortgagor allowed to enter your home in florida?
Are you certain that you do not mean the Mortgagee? The mortrgagee is the lender? The Mortgagor is the person who is BUYING the house.If, however, you are renting a home from someone who has a mortgage on the property, and the mortgagor is actually your landlord, yes, landlords DO have the right to enter their rental property to inspect it.If you actually mean to ask abaout a mortgagee's authority to enter your home; no, they do not have the rights that a landlord does. and would need either your permission, or a court document granting them access to the house.However, once the home has actually been foreclosed on, they do have the right to enter THEIR property.
Can you sell a mobile home before it goes to foreclosure and do you have to give that money to the mortgage co?
Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.
What does it mean when you say that there is a lean on your property?
A lien is placed on property when the owner owes money to someone, and the someone wants to ensure that it will be paid back. Liens are only available to secure some kinds of debts. If a person takes out a mortgage, the bank will place a mortgage lien on the property. This means that when the person sells the property, the mortgage must get paid before the person can receive any proceeds from the sale. If the person pays off their mortgage while they still own the property, the lien will be removed. In other cases, liens are placed due to judgments and certain kinds of bad debts.
Difference between simple mortgage and English mortgage?
In a simple mortgage,the mortgagor without delivering possession of the mortgaged property binds himself personally to pay the mortgage money and agrees expressly or impliedly that if he fails to pay the debt and interest in terms of the mortgaged deed, the property will be sold and the proceeds applied in payment to the mortgaged money.In an English mortgage,a mortgagor binds himself to repay the mortgaged money on certain date and transfers the mortgaged property absolutely to the mortgagee subject to the provision that he will re-transfer it to the mortgagor upon payment of the mortgaged money as agreed.
Can a mortgage be based on an unenforceable contract?
A mortgage is a legally binding agreement signed by the owner of real property by which the owner transfers their property to the lender as security for a loan. There is a note associated with the mortgage. The note obligates the borrower to pay the loan at a specified interest rate within a specified length of time, or in some cases, on demand.There are factors that could make a mortgage and noteunenforceable such as when a lender does not make certain the mortgagor is the legal owner of the property.You can add details on the discussion page to explain what you mean by a mortgage based on an unenforceable contract.A mortgage is a legally binding agreement signed by the owner of real property by which the owner transfers their property to the lender as security for a loan. There is a note associated with the mortgage. The note obligates the borrower to pay the loan at a specified interest rate within a specified length of time, or in some cases, on demand.There are factors that could make a mortgage and noteunenforceable such as when a lender does not make certain the mortgagor is the legal owner of the property.You can add details on the discussion page to explain what you mean by a mortgage based on an unenforceable contract.A mortgage is a legally binding agreement signed by the owner of real property by which the owner transfers their property to the lender as security for a loan. There is a note associated with the mortgage. The note obligates the borrower to pay the loan at a specified interest rate within a specified length of time, or in some cases, on demand.There are factors that could make a mortgage and noteunenforceable such as when a lender does not make certain the mortgagor is the legal owner of the property.You can add details on the discussion page to explain what you mean by a mortgage based on an unenforceable contract.A mortgage is a legally binding agreement signed by the owner of real property by which the owner transfers their property to the lender as security for a loan. There is a note associated with the mortgage. The note obligates the borrower to pay the loan at a specified interest rate within a specified length of time, or in some cases, on demand.There are factors that could make a mortgage and noteunenforceable such as when a lender does not make certain the mortgagor is the legal owner of the property.You can add details on the discussion page to explain what you mean by a mortgage based on an unenforceable contract.
