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Can you foreclose on a bank note to a corporation you are part owner in?
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If Mortgage note is in one persons name and the deed to property is in another can mortgage company foreclose and take both house and land?
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. ...
Asked in Debt Responsibility
If a husband dies will a wife be responsible for the mortgage debt even if she is not on the note?
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. ...
Asked in Law & Legal Issues
If 2 people were on the deed much prior to the mortgage and note can the bank foreclose on property in which only 1 person is on the mortgage and note?
In short, Yes. You will want to talk to a local attorney. The bank is entitled to recover the money borrowed. If the mortgagee can't or won't pay it back, well, that's what the "secured" part of a secured loan means; the bank can foreclose on the mortgage and sell the house to recover their investment. If they committed fraud in representing themself as the sole owner, then there are bigger problems than foreclosure (i.e. potential jail time) to be worried about. ...
Is a note valid if not signed by mortgage lender?
Yes. The mortgage secures the debt. The note is simply a promise that you repay the money. If you sign the note, then you are liable for the debt. The note is simply your promise to pay back the money you borrowed. If you signed the mortgage, and you default on the promises and covenants of the note and mortgage, then the mortgagee (bank) has the right to foreclose on you. The default of mortgage payments are a breach of contract which allows...
Asked in Cars & Vehicles, Insurance
What are your rights you cosigned for your stepson who is 4 months behind and no insurance?
there is a difference between co signing a note and being on the actual title, if you are on the title as an owner, you need to pay this insurance yourself, because (in most states i know) you will be held legally responsible as an owner of the uninsured vehicle should he be in an accident.........as to the note he is hurting your credit severely by defaulting on the loan......personally i would pick up the car and bring it to my...
Asked in British Coins
Who is the owner of bank notes?
The treasury is the entity that issues bank notes. They are issued on the amount of gold in the treasury. They are a promise to pay the holder the amount on the note. Although the holder is in possession of a note , the treasury still owns it. ...
What happens when a waranty deed is executed on a property but there is still a note for the mortgage?
The property is subject to the mortgage and the buyer has notice of it. A conveyance will likely trigger a demand from the lender that the note be paid in full. If the mortgage isn't paid the bank will foreclose. You should seek the advice of an attorney. ...
Can you foreclose a mortgage with a copy of the note?
No. You can only foreclose a mortgage if you own it as evidenced by documentation that was recorded in the land records. ...
Asked in Reserve Bank of India
List of banks listed under reserve bank of India?
The Reserve Bank of India is an Indian bank that was created in 1935. It has 2 other branches of their business, Deposit Insurance and Credit Guarantee Corporation of India and Bharatiya Reserve Bank Note Mudran Private Limited. ...
Asked in Law & Legal Issues
How do you be on deed without being coborrower?
The deed is the document that names the owner(s) of the property. The mortgage is the instrument that pledges the property as security in case a loan (note) for the property is not repaid. The mortgage that we get to buy or refinance a house is comprised a note and the pledge of security for that note. Therefore the mortgagor (the bank) wants all people that own the property to pledge it as security for the note. If you own a house with...
Asked in Mortgages, Foreclosure, Deeds and Ownership
Can they foreclose a property if the note is paid and current?
No. Foreclosure is a legal process that can be used in the case of a default only. ...
Asked in Insurance, Auto Insurance
IF I Cosign AN auto lease WHAT ARE MY insurance liabilitIES?
well your liablites in general...depends....you can be a 'co signer' and NOT an owner ( i know this because i did this with our kids...on purpose) if you are a co owner you have the same liablity as the owner, (ins...if accident occurs and no insurance you are held equal with owner)....if you are a co signer and NOT a co owner you liablity begins and ends with the financial responsiblity of the note...(they don't pay then bank/company comes to you...
Asked in Business Law, Property Law, Deeds and Ownership, Real Estate, Real Estate Buying and Selling, Real Estate Investing
Can a vendor's lien holder foreclose on real estate property due to default in the state of Texas?
If you are the lien holder, and someone doesn't pay, then yes, you can foreclose. I handle around 50 foreclosures each month, in 3 separate counties in Texas. We use a Warranty Deed With Vendor's Lein, Deed of Trust, and a Promissory Note, then when our customers do not pay their note for a long period of time, then we foreclose on it. ...
Asked in Debt and Bankruptcy, Loans, Mortgages, Debt Collection, Foreclosure, Deeds and Ownership, State Laws, Money Management
Will a deed in lieu of foreclosure affect your credit record if you are on the deed in joint tenancy but did not signed the note or mortgage?
If you were a joint owner and didn't sign the mortgage then the bank cannot foreclose on your interest in the property. Therefore, you shouldn't sign a deed in lieu of foreclosure. Only the borrower in default should sign that deed. The lender erred by not having all the fee owners sign the note and mortgage. If only one owner signed then the bank only received that person's interest in the property. If you want to sell your interest to the...
Can you foreclose a mortgage without the note?
In some states it is going to be hard to foreclose without the original copy of the note because the court will need this to show the chain of title and who has what rights revolving around the debt and the real estate. However, in other states such as Massachusetts, the recorded mortgage allows foreclosure in the case of a default as long as the mortgage and any assignments were recorded and the foreclosing bank is the owner of record. This is an...
Asked in British Coins
Is there a Bank of England One Hundred Pound note?
The Bank of England first issued a £100 note in approximately 1725. The note was last issued in 1943 and ceased to be legal tender in 1945. There is no Bank of England £100 note currently in circulation and the Bank of England advises that there are no plans to introduce one in the foreseeable future. The Bank of Scotland, the Royal Bank of Scotland and the Clydesdale Bank all produce a Scottish £100 note. The Bank of Ireland, the First Trust Bank...
Asked in Loans, Mortgages, Foreclosure
Can you foreclose on a promissory note?
A promissory note does not usually contain the power of foreclosure. In order to have the authority to foreclose (take possession of real property and sell it after a default) that right must be granted by the borrower. Mortgages and deeds of trust grant to the lender the power to foreclose. However, if your borrower defaults on a promissory note you can sue in civil court and obtain a judgment lien as long as you bring suit within the statute of limitations...