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Yes. The bank could foreclose and take possession of the property subject to the first mortgage.
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∙ 15y ago
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What is a house mortgage?
A mortgage is a loan from a bank used to purchase real estate. Until the loan is paid off the bank has a lien on the property. The property cannot be sold or refinanced until that mortgage is paid.
Can you refinance mortgage if you do not live in a house?
I dont think a bank would finance ANYone that didnt have a house , its hard to make the mortgage when your homeless
Do you still pay a mortgage if your house burns down?
no you dont. the bank takes into consideration that there is no longer a house standing and excuses from the mortage providing you have good credit.
Why do banks bank?
because if they dont bank they dont get money, and there will be no banks
Can you reinstate a mortgage after it has been discharged in bankruptcy?
Not sure but I dont think so
Can you file chapter 7 in Florida and re affirm your mortgage?
Yes, but its never wise to reaffirm a mortgage. Even if you dont reaffirm, as long as you keep making the mortgage payments, the bank wont foreclose.
What is a house mortgage?
A mortgage is a loan from a bank used to purchase real estate. Until the loan is paid off the bank has a lien on the property. The property cannot be sold or refinanced until that mortgage is paid.
Can you refinance mortgage if you do not live in a house?
I dont think a bank would finance ANYone that didnt have a house , its hard to make the mortgage when your homeless
In Texas if you dont pay your home equity loan what happens?
The lender could foreclose on your house.
Do you still pay a mortgage if your house burns down?
no you dont. the bank takes into consideration that there is no longer a house standing and excuses from the mortage providing you have good credit.
My spouse passed away. Do I need to contact the mortgage holder to remove his name from the mortgage?
No, you dont unless he left the house to someone else. then you pay someone who works for the bank to back date the removal of his name from your new morgage. Good luck
Why do banks bank?
because if they dont bank they dont get money, and there will be no banks
Do you have too pay any of the mortgage back after a chapter 7 bankruptcy?
no you dont have to
Can you reinstate a mortgage after it has been discharged in bankruptcy?
Not sure but I dont think so
What happens if you dont reaffirm your mortgage when filing chapter 7 in ma?
If it has any equity, the trustee may take it and sell it at auction. If there is little or no euity, the trustee will leave it to the mortgage holder to foreclose. If it is already in forecosure, the mortgagee may file a motion for relief from stay to pursue the foreclosure. Since there are so many foreclosures and people just walking away from underwater mortgages, it may be possible to work out a rental or refi or some other result. Watch out for scams. Use a local bankruptcy lawyer who is familiar with recent developments.
I have a mortgage that is current we live in a singlewide mobile home. Right beside this singlewide we have started building a house we now owe a lumber comp. $25,000 they want to foreclose if they dont get their money. we have bad credit who can help ?
You should be able to seperate the two properties and get a title deed for your mobile home that is different from the land you are building on. Then the lumber company can only foreclosure on the land the house is on if you don't pay.
Why do you want to work in the bank?
i dont you gay
