Yes and no. The legal ownership of the property is separate from any liens against it. Therefore you can file grant deeds with the county (signed by all legal owners) that transfers ownership of the property. However, standard mortgage documents usually have a covenant prohibiting the transfer of all or part of the ownership in the home without the express written permission of the lender. So while you can technically alter the ownership, it does NOT alter the financial liability for the loan (the removed party is still liable for the debt) and may cause you to face serious problems if the lender becomes aware. A breach of the terms of your mortgage is a default, and they may have the right to call your loan due and payable immediately.
No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.
You need to review your mortgage documents that you signed at your closing.
Nope. You've got an "upside down mortgage". That's what all the trouble is about.
Whoever granted the mortgage to the bank must have owned the property at that time. If they later conveyed the property to a new owner they breached their mortgage agreement with the bank and the new owner took the property subject to the mortgage. The bank can take possession of the property if the mortgage isn't paid.
If you pay someone's mortgage you can place a lien on the property only if you have stated that condition in a properly drafted written agreement signed by both parties. If there is no agreement then you are a volunteer and have no legal standing to place a lien on the property.
You can refinance the mortgage in your name if the property is on your name alone and the lender approves your loan.You can refinance the mortgage in your name if the property is on your name alone and the lender approves your loan.You can refinance the mortgage in your name if the property is on your name alone and the lender approves your loan.You can refinance the mortgage in your name if the property is on your name alone and the lender approves your loan.
You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.
A non performing mortgage is one on which the borrower has defaulted and not made either interest payment, or principal repayments. The lender will take possession of the property by foreclosure.
All commercial mortgages will be offered on the basis of the business and financial background of the applicant. In order to find a cheap commercial property mortgage the applicant should make use of comparison sites and research to ensure they are getting the best product.
California is a community property state. If you are on a mortgage or loan agreement, you would have had to have signed the papers in the presence of the lender or an agent for it to be legal. You could contact the mortgage lender assuming you have that information, or get a copy of your credit report.
No. If you signed a mortgage while you owned the property then you are responsible for that mortgage until it is paid off. If you agree to transfer your interest to a co-owner you should make an agreement that the mortgage must be refinanced in the new owner's name alone. You should consult with an attorney to protect your legal interests.No. If you signed a mortgage while you owned the property then you are responsible for that mortgage until it is paid off. If you agree to transfer your interest to a co-owner you should make an agreement that the mortgage must be refinanced in the new owner's name alone. You should consult with an attorney to protect your legal interests.No. If you signed a mortgage while you owned the property then you are responsible for that mortgage until it is paid off. If you agree to transfer your interest to a co-owner you should make an agreement that the mortgage must be refinanced in the new owner's name alone. You should consult with an attorney to protect your legal interests.No. If you signed a mortgage while you owned the property then you are responsible for that mortgage until it is paid off. If you agree to transfer your interest to a co-owner you should make an agreement that the mortgage must be refinanced in the new owner's name alone. You should consult with an attorney to protect your legal interests.
An antichresis is an agreement by which the debtor gives his creditor the use of real property to be able to pay interest and principal of his debt.