All the owners of real estate must sign a mortgage that will affect the property. The bank will take into consideration the amount that is already owed on the property for the first mortgage and the ability of the owners to take on more debt.
What if there was a will and the house was deeded to the wife what about the contents of the house?
Yes. Most mortgage documents have a "balance due on transfer' clause as part of the boilerplate language. If you transfer ownership the bank can demand payment of the mortgage in full.
Sexytime with banker.
Answer: A mortgage runs with the land until it is paid. The buyer would acquire the property subject to the mortgage.
Depending on the bank lender used to secure a mortgage, it is possible to buy two houses that are on one deed. It can depend on whether each house is deeded separately.
No, deeded is not a word whoever asked this question because deeded is already pural. Of course "deeded" is a word. The asker is referring to the verb "deed", not the noun "deed" hence its pluraliity has no bearing as a verb cannot be plural. "The grandfather deeded his house to his grandson."
No, the mortgage is a debt of the estate. That mortgage must be resolved before the property can be transferred.
The estate of the father is responsible for their share of the house. The home will probly have to be sold to pay debts and pay off the mortgage. It may also depend on how the property was deeded, she may inherit the home free and clear (along with the mortgage) on his death.
The owner of a deeded home can get the home back if the home is in his or her name. The taxes must be paid on a deeded home in order for it be a clear deed.
The property cannot be conveyed without the permission of the mortgage holder, who will most likely insist that the mortgage be paid off first. In other words, this is kind of a non-question, since it describes a situation that can't legally happen.If the mortgage holder dies, the house becomes part of the estate, and the heirs would have to work it out with the mortgage company.AnswerIf the owner executes a deed the property would transfer subject to the mortgage. Transferring the property cannot defeat the mortgagees interest in the property. Also, mortgages contain a due on transfer clause. That means if the property is transferred the lender will require payment in full of the mortgage.
By providing them with proof that you have already made all repairs.
That is not a good thing to do. If the bank realizes it, they can foreclose immediately. Better to have the estate clear out the mortgage.