Yes, the mortgage company can do that. She co-signed for the loan and is responsible for it if you don't pay. She can lose her house.
Not if a party has a proper power of attorney (POA) to represent the cosigner. The mortgage company will tell you what form of POA they want, and generally it is included with the paperwork, and the POA will have to be notarized. I know this from personal experience, I am a Notary Public and back in the early 2000s I was handling mortgage refinancing where the mortgage company pays me to go out to people's houses to watch them sign, what is called a "mobile notary," and when someone else is signing on behalf of a person not present, they will tell the mortgage company and have a power of attorney with whatever wording the mortgagor wants, signed by the cosigner and notarized, authorizing the substitute person to sign on their behalf. That would be included with the paperwork sent back to the mortgage company. But you have to notify the mortgage company ahead of time and find out what form they want the power of attorney to be; most have their own specific form they want you to use.
The mortgage would have to be refinanced without the participation of the adult child as cosigner. Debts incurred before marriage do not become the responsibility of a new spouse.
My belief is that as long as the mortgage is paid on time by the borrower, there would be no reason to go after the cosigner estate.
Yes. Your mortgage company may hold your first (or primary) mortgage as well as a second which may be represented as a home equity loan or a home equity line of credit.
You are, but your mortgage company is on the deed and is also considered an owner of your home.
You bet they can. The co-signor is just as legally liable for the debt as the first signor. Yes. A cosigner is usually equally obligated for the loan, so anything they can do to one signer they can do to the other.
Not if a party has a proper power of attorney (POA) to represent the cosigner. The mortgage company will tell you what form of POA they want, and generally it is included with the paperwork, and the POA will have to be notarized. I know this from personal experience, I am a Notary Public and back in the early 2000s I was handling mortgage refinancing where the mortgage company pays me to go out to people's houses to watch them sign, what is called a "mobile notary," and when someone else is signing on behalf of a person not present, they will tell the mortgage company and have a power of attorney with whatever wording the mortgagor wants, signed by the cosigner and notarized, authorizing the substitute person to sign on their behalf. That would be included with the paperwork sent back to the mortgage company. But you have to notify the mortgage company ahead of time and find out what form they want the power of attorney to be; most have their own specific form they want you to use.
The mortgage would have to be refinanced without the participation of the adult child as cosigner. Debts incurred before marriage do not become the responsibility of a new spouse.
My belief is that as long as the mortgage is paid on time by the borrower, there would be no reason to go after the cosigner estate.
Yes. Your mortgage company may hold your first (or primary) mortgage as well as a second which may be represented as a home equity loan or a home equity line of credit.
You can not prevent home mortgage loan company from securitizing you loan. The only way out is do not default your repayment.
You are, but your mortgage company is on the deed and is also considered an owner of your home.
Yes, if the mortgage is in default.Yes, if the mortgage is in default.Yes, if the mortgage is in default.Yes, if the mortgage is in default.
You have to talk to the person or company or bank who holds the mortgage.
Home mortgage is sold to another company whenever the original company is in need of cash so it is pretty common. You can find more information at www.gmacmortgage.com
CCO Mortgage is a holding company which caters to homeowners who are looking to finance their home or to take out a mortgage on their home at a lower rate which the ease of applying for financing/mortgaging online.
Some options of companies to get a home mortgage loan in Idaho are the Idaho Housing and Finance Association of the Zillow company website. Alternatively you can use the First Mortgage company website or the Bankrate company website.