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Can a collection agency place a lien on a home if the mortgage and the deed aren't titled to the person owing the debt?
Wiki User
∙ 12y ago
No. Collection agencies (or any other agency/organization that lends money) cannot place liens on property that is not owned by the debtor. If they could, then what would stop them from placing liens on just anyone's property?
In order for them to place a lien on a property, the person must be on title. Of course, there might always be some lawyer out there who might beg to differ and try to take it to court...but then again...if they're willing to take the debtor to court, they can just have a judgment placed against them by the courts.
Wiki User
∙ 12y ago
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Who founded the company CCJ mortgages?
There is no company titled CCJ mortgages. CCJ stands for County Court Judgement. You can get a loan with a CCJ for a mortgage. This is called a CCJ mortgage. Since no company named CCJ Mortgages exist, there is no information on a founder.
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If you wish to keep the property you will likely be required to refinance it and take on the financial responsibility depending upon how the property is titled and the probate laws of the state in which the property is located.ClarificationIf the decedent "holds" the mortgage ( as a mortgagee) then the answer is yes. The mortgage is an encumbrance on your property and it must be paid according to the terms of the mortgage. The heirs of the mortgagee now own your debt. You will need to make payments to those heirs. If instead the decedent granted a mortgage to a lender when they were the owner of the property, and you acquired your interest after the mortgage was granted, that mortgage must be paid or the lender can take possession of the property by a foreclosure.
If the mortgage on a house is paid do you still have to take it through probate?
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If mom and daughter have names on mortgage of Mobile Home and land in Park and one dies is the other liable for their credit card debts Is the property automatically the survivors without fees etc.?
Only the person whose name is on the account is responsible to pay credit card debt, with the exception of married couples living in community property states. In regards to the mobile home, the names on the mortgage are not what constitutes ownership, it is how the property is titled. In order to have real property pass to the joint owner upon the death of the other one, property is usually titled as Joint Tenants With Rights of Survivorship (JTWRS). It is very important that a property title is worded correctly in accordance with the laws of the state, to avoid any legal difficulties.
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You need to go and see a mortgage broker. However if there is already a mortgage on the house with two signatories, it is unlikely that you will be able to get a second mortgage without the agreement of the second signatory as it will affect their primary mortgage. It will also depend on the property deed. If the land is titled to a single person, that person can obtain a mortgage. Note that a spouse is considered to be on the title even if it isn't printed there in most jurisdictions.
What happens to a mortgage loan when the sole loan holder dies and the property is titled Joint tenants with full rights of suvivorship?
The mortgage obligation remains on the property. If the holder of the mortgage dies then her heirs own the mortgage.
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