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Can a judgment be filed against a deed holder not included in a mortgage?
Wiki User
∙ 10y ago
Yes. The lien would be against any interest they own in the property. If only one owner granted a mortgage the other owner still owns their interest free of the mortgage unless they acquired that interest after the mortgage was granted by the owner.
Wiki User
∙ 10y ago
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With second mortgage holder asking the homeowner to sign a deficiency judgment isn't this lien dropped if the home is foreclosed and goes to public auction?
HOMEOWNER SHOULD SIGN NOTHING...the 2nd mortgage is cut off in the foreclosure action against the 1st mortgage as it affects real property...if the 2nd mortgager holder is looking for a signature, then they should get it from the judge
Can a judgment lien be placed on a property mortgaged by USDA-Rd?
A lien can be placed on any property, regardless of who holds the mortgage. In most cases the mortgage holder will be paid before a secondary lien holder.
what happens to seller held mortgage when mortgagor dies?
If it ws done properly, the mortgage is a lien against the real estate. If the mortgage is not paid by the estate then the holder of the mortgage can foreclose and take possession of the property. You should consult with an attorney who can review the situation and explain your options.If it ws done properly, the mortgage is a lien against the real estate. If the mortgage is not paid by the estate then the holder of the mortgage can foreclose and take possession of the property. You should consult with an attorney who can review the situation and explain your options.If it ws done properly, the mortgage is a lien against the real estate. If the mortgage is not paid by the estate then the holder of the mortgage can foreclose and take possession of the property. You should consult with an attorney who can review the situation and explain your options.If it ws done properly, the mortgage is a lien against the real estate. If the mortgage is not paid by the estate then the holder of the mortgage can foreclose and take possession of the property. You should consult with an attorney who can review the situation and explain your options.
Can a remainder interest owner be held responsible for paying a mortgage?
If they signed the mortgage they are responsible for paying it. Generally the holder of a life estate who wants a mortgage on the property must obtain the written consent of the remainders for the mortgage to be valid as against the real estate. The written consent is the same as cosigning the mortgage.If they signed the mortgage they are responsible for paying it. Generally the holder of a life estate who wants a mortgage on the property must obtain the written consent of the remainders for the mortgage to be valid as against the real estate. The written consent is the same as cosigning the mortgage.If they signed the mortgage they are responsible for paying it. Generally the holder of a life estate who wants a mortgage on the property must obtain the written consent of the remainders for the mortgage to be valid as against the real estate. The written consent is the same as cosigning the mortgage.If they signed the mortgage they are responsible for paying it. Generally the holder of a life estate who wants a mortgage on the property must obtain the written consent of the remainders for the mortgage to be valid as against the real estate. The written consent is the same as cosigning the mortgage.
What recourse does a second mortgage holder have against you if you don't pay that mortgage?
If you don't pay the mortgage the second mortgagee can foreclose and take possession of the real estate subject to the first mortgage. Many of them do just that.
Judgment Assignment?
In a judgment assignment, a person legally transfers their rights and interests in a judgment debt to another party. This allows the new party to collect the amount owed on the judgment. The original judgment creditor effectively assigns their right to receive payment to the assignee.
Can a second mortgage holder foreclose on a first bank mortgage holder?
yes, but it rarely happens.
Can a judgment against you freeze your bank account in Pennsylvania?
The judgment holder will have to enforce the judgment. He/she will get leave of court to conduct a citation to discover assets, where they will grill the bank account holder on his/her assets. At some point down the line, the court can freeze the assets or order them turned over.
Can a second mortgage foreclose without letting the first mortgage know?
The only way would be for the 2nd mortgage holder to "buy out" or "pay off" the 1st mortgage holder. Even then, I believe most states require that the 1st mortgage holder receive notification.
If you are a title holder of real property but are not on the mortgage loan and or mortgage note of that property can a lien be placed against the real property if you file bankruptcy?
This would be a most uncommon situation...you own the proerty but other people have it mortgaged? Your bankruptcy effects everything you own, not just what you may owe on. Your ownership of this property is included.
What if a Mortgage holder never files a lien against your house?
If the mortgagee neglects to record the mortgage then it will not become a lien on the real estate. However, you are still obligated to repay the loan.
Why does the second mortgage holder have to approve of the first mortgage refinance?
The second mortgage holder typically needs to approve the first mortgage refinance because they hold a subordinate position to the first mortgage. Refinancing the first mortgage could impact the second mortgage holder's position, so their consent is often required to make changes to the primary loan.
