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Can a landlord break a rental lease agreement early because he did not pay the mortgage payments on the house and mortgage company is going to foreclose?
Wiki User
∙ 14y ago
Depends on the local and state laws.
Wiki User
∙ 14y ago
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How can landlord hold mortgage to tenant?
A landlord only collects rent from a tenant, not mortgage payments. If the landlord then holds a mortgage for the tenant, then they are no longer a landlord, rather, a mortgage holder, like a financial institution. There are many cases where the tenant has an option to buy the home, and many terms are discussed and agreed thereto. Landlords can turn into mortgage holders. Landlords can evict, but mortgage holders can foreclose-- two different types of court proceedings.
Can lender foreclose if home value decreases and you re making your payments?
No. A lender can foreclose only if you default on your mortgage payments. There are probably tens of thousands of homeowners who are making their mortgage payments on time even though their property has decreased in value. If there is no default there can be no foreclosure. I respectfully disagree. Okay it must be noted that we do not know the details in the lender's agreement with the signatory. Therefore it is possible for a lender to initiate foreclose based on something within the agreement something in the contract that has been violated. A foreclosure can in theory occur if you are making your payments because often times that is not the sole condition in the lender's agreement.
What to do if one owner is not making house payment?
The mortgage payments must be made or the lender will foreclose the mortgage.
Can you go into foreclosure if you default on your second mortgage?
Yes. Your second mortgage is secured by your home, so if you default on payments, the lender has the right to foreclose.
What rights does the second mortgage holder have if the first mortgage payments are up to date?
If the second mortgage is in default the second mortgagee can foreclose and take possession of the property subject to the first mortgage.
What can a creditor do if you stop payments on a secured loan that was not reaffirmed?
Repossess or foreclose on the secured property if the agreement is in default.
Can social security payments and/or pension payments be garnished by a mortgage lender?
Social Security payments cannot be garnished at all. Pension payments sometimes can be, depending on a number of factors. Typically mortgage lenders do not garnish wages, though, they simply foreclose on the property.
Can your lender foreclose on your mortgage if you are paying your principal and interest payments on time but not the PMI and escrow amounts?
Yes. Escrow and PMI all factor into your mortgage payment. If the payments are short, its as if they are not being made at all.
Can second mortgagee pay off first mortgage and take the property by foreclosure?
Yes. The second mortgagee can foreclose if the mortgagor defaults. The second mortgagee would take title subject to the first mortgage and must make those payments or pay it off.Yes. The second mortgagee can foreclose if the mortgagor defaults. The second mortgagee would take title subject to the first mortgage and must make those payments or pay it off.Yes. The second mortgagee can foreclose if the mortgagor defaults. The second mortgagee would take title subject to the first mortgage and must make those payments or pay it off.Yes. The second mortgagee can foreclose if the mortgagor defaults. The second mortgagee would take title subject to the first mortgage and must make those payments or pay it off.
After a divorce must your ex spouse pay half of the mortgage payment if their name is on the mortgage?
That issue should have been addressed in writing in your Separation Agreement when you were divorced. You need to review it and the decree. All financial matters between the parties should be addressed in that agreement. If the mortgage wasn't addressed then you are each equally responsible for payments. If the payments aren't made and the loan goes into default the bank will foreclose and take possession of the property. That means if your ex-spouse isn't helping with the payments the responsibility to make the full payments falls on you or you will lose the house. You should call the attorney who represented you in the divorce and ask them what to do.
Does reaffirmation apply to ch 13 And if so and your mortgage was not reaffirmed can the mortgage company foreclose if mortgage payments are current How about after discharge of the debt?
Reaffirmation does apply to Chapter 13 bankruptcies, and the benefit of filing a Chapter 13 case is that you are usually able to retain your home (as opposed to a Chapter 7 case, where all of your assets are normally sold). Customarily, the debtor and lender enter into an agreement within the bankruptcy to cure the arrearages over a period of time while the debtor continues to make monthly payments. That said, if the debtor falls behind on the payments, the lender can petition the court for relief from the automatic stay and proceed to foreclosure. A lender may never foreclose if the mortgage payments are current and the debtor is in compliance with the other provisions of the mortgage. If your lender is foreclosing and you believe that you have made your payments on time (or adequately cured the arrearage in the bankruptcy), then you should contact an attorney immediately.
Can a mortgage lender foreclose on your brothers property if you continue to make the pyments?
A lender can only foreclose if the payments are in default. They don't care where the money comes from as long as it keeps being paid on time.
