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Yes. The bank could foreclose and take possession of the property subject to the first mortgage.
It Depends: Yes - If the check has just reached the bank and the banks is still processing the payment. If so, you can issue a stop payment and the bank will not pay for the check No - If the bank has already processed the check and released the payment to the payee customers bank account.
The are several legal steps a bank must follow before your house can be sold, assuming you are actually the owner but the bank holds a mortgage on the house. 0. The bank must notify you that you have missed a payment 1. The bank must issue a demand for payment in writing to you. 2. The bank must deliver to you or have delivered to you by the sheriff a legal notice of intent to foreclose. The notice must be published. 3. The bank must go to court and get a court order to foreclose. 4. legal notice of actual foreclosure must be published. 5. House is sold at auction to the highest bidder. If you have any questions talk to the bank and/or consult a lawyer.
Not very likely
His estate will be responsible for the mortgage. Assuming the wife is not on the deed, if the mortgage isn't paid the bank will foreclose and take possession of the property covered by the mortgage. If the wife is on the deed and she consented to the mortgage the bank can foreclose. If she is on the deed and did not consent to the mortgage then the bank had a defective title and may not be able to foreclose.
Yes, if you are not making payments on your home, the bank can foreclose. Even if you are paying something, if you are not paying the amount agreed to in the loan modification or original contract, the bank can foreclose. If bankruptcy is active, they may need permission from the court but if payments are not being made in a timely fashion the court generally grants permission to foreclose. The moral of the story - make your payments or the bank can foreclose!
yes
The bank will only take the home they foreclose.
Yes. The bank could foreclose and take possession of the property subject to the first mortgage.
Bank doesn't re-affirm...the debtor does. If bank does not foreclose, the debt still exists, and grows. They just may some other time.
If the home was part of the bankruptcy - possibly. It all depends on what the wording of the mortgage agreement may be.
A bank can not foreclose on a deceased person. A bank forecloses on a piece of property when the mortgage has not been paid. There is a difference. If the deceased person had the money in the bank to pay the mortgage and the will is in probate, someone should tell the probate judge about the situation. In this state the probate judge has the authority to pay the mortgage. He also has the authority to make the car payment. The probate judge will not do anything unless someone tells him!
yes
It Depends: Yes - If the check has just reached the bank and the banks is still processing the payment. If so, you can issue a stop payment and the bank will not pay for the check No - If the bank has already processed the check and released the payment to the payee customers bank account.
If you didn't sign the mortgage then the bank can't come after you for payment in the case of a default. However, they can foreclose on the mortgage and take possession of the property notwithstanding the quitclaim deed to you.
The are several legal steps a bank must follow before your house can be sold, assuming you are actually the owner but the bank holds a mortgage on the house. 0. The bank must notify you that you have missed a payment 1. The bank must issue a demand for payment in writing to you. 2. The bank must deliver to you or have delivered to you by the sheriff a legal notice of intent to foreclose. The notice must be published. 3. The bank must go to court and get a court order to foreclose. 4. legal notice of actual foreclosure must be published. 5. House is sold at auction to the highest bidder. If you have any questions talk to the bank and/or consult a lawyer.
Not very likely