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.
Yes, if the mortgage is in default.
Yes. ==Clarification== The mortgage company can only foreclose if the OWNER of the real estate signed the mortgage. If someone other than the owner signed the mortgage the bank has no interest in the property and therefore cannot foreclose.
All the owners of the real estate must sign the mortgage so that the lender can foreclose in the case of a default.All the owners of the real estate must sign the mortgage so that the lender can foreclose in the case of a default.All the owners of the real estate must sign the mortgage so that the lender can foreclose in the case of a default.All the owners of the real estate must sign the mortgage so that the lender can foreclose in the case of a default.
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.
Probate is strictly governed by state law. In order for the title to real estate to pass to the heirs the estate must be probated. Generally, the value of the property less the amount of the balance due on the mortgage will be included in the inventory. There will be a notice of the death published in the local newspaper. The creditors of the decedent need to be notified of the death. The property is subject to the mortgage and if the mortgage isn't paid the bank will foreclose. You may need to negotiate with the bank to refinance the mortgage. You should consult with an attorney who specializes in probate.
The mortgage must be paid if you want to keep the property. If the mortgage isn't paid the bank will foreclose and take possession of the property. If your father was also the only one on the deed then his estate must be probated for title to the real estate to pass to his heirs. You should consult with an attorney who specializes in probate.
A mortgagee does not need to file a claim against the estate when the mortgagor dies. The mortgage is a lien against the real estate. Generally, the boilerplate language in a mortgage document gives the mortgagee the power to take possession of the property and sell it if there is a default. If the mortgage isn't paid the mortgagee will foreclose. If the beneficiaries want to keep the real estate they must make arrangements with the bank to pay the mortgage. You should consult with the attorney who is handling the estate.
His estate will be responsible for the mortgage. Assuming the wife is not on the deed, if the mortgage isn't paid the bank will foreclose and take possession of the property covered by the mortgage. If the wife is on the deed and she consented to the mortgage the bank can foreclose. If she is on the deed and did not consent to the mortgage then the bank had a defective title and may not be able to foreclose.
Probably. The secured lender will either want to be paid off by the estate, or obtain a novation of the promissory note by the heir who is the new owner of record (and a new mortgage), or foreclose against the estate.
Your brother has an estate if he has a mortgage. You need to petition the probate court in your brother's jurisdiction to be appointed the Administrator of his estate. The court will issue Letters of Administration that will enable you to carry on the business of disposing of his estate.
Your estate is responsible. If the equity mortgage is not paid the bank will foreclose on the property.
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.
The homeowners and lender sign a note and a Mortgage or Deed of Trust to create a security interest in the real estate. The right to foreclose in the case of a default is set forth in the mortgage clause entitled "Power of Sale".