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Can a lender file mortgage insurance claim while under bankruptcy protection?
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What is the difference between mortgage loan insurance and mortgage life insurance?
Mortgage Insurance protects the LENDER in the event of a foreclosure and will pay any $$$ loss to them....no protection at all for YOU. Mortgage Life will pay-off your mortgage in the event YOU or the covered person dies.
Will bankruptcy protect me from foreclosure by my mortgage company?
Yes, bankruptcy protect you from foreclosure by your mortgage company. You can read more at www.hirby.com/mortgage-lender-filing-for-bankruptcy
Do you have to declare bankruptcy if you default on your mortgage?
No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.
Do Mortgage insurance premiums payments have be escrowed by the lender?
Yes, Mortgage Insurance Premiums Payments do have to be es-crowed by the lender.
Can you get a mortgage loan if you are in a chapter 13 bankruptcy?
If you are lucky, yes. But most likely, no lender will give you a mortgage loan if you are or have declared bankruptcy.
Can you get a remodify mortgage after bankruptcy?
If the lender agrees, of course you can remodify, but you cannot force the lender to modify the terms.
Does bankruptcy force an adjustable mortgage into a fixed mortgage?
No...and in fact it may well resolve the mortgage by selling the property it is secured to to pay the lender.
What happens to a mortgage after a bankruptcy?
What happens to a mortgage after bankruptcy depends on whether or not the debt is reaffirmed. If the mortgage is reaffirmed the homeowner continues to pay it as if the bankruptcy had not been filed, since the debt has not been discharged. If the debt is not reaffirmed, what happens to the mortgage depends on the policies of the individual lender.
Will refinancing your mortgage remove the mortgage insurance from your loan?
Actually, you may not have to go as far as refinancing to remove the mortgage insurance. If you have paid down the principle and have equity, you may have reached the percentage where your lender does not require mortgage insurance. Check with your lender and read your note to see where you stand.
What if you dont have insurance?
If the law requires you to have insurance (Auto Liability) or someone else does (your mortgage company, your auto lender) you could be in hot water if you don't have it. Otherwise, you don't have to have insurance.
Is mortgage insurance optional?
no. If you have a loan greater than 80% of the value of the home and the lender requires mortgage insurance, then it is not optional.
How does one end Private Mortgage Insurance?
Contact your lender or the insurance company listed on the policy.Contact your lender or the insurance company listed on the policy.Contact your lender or the insurance company listed on the policy.Contact your lender or the insurance company listed on the policy.
