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Can you take out a mortgage on livivg estate that's in your name?
Wiki User
∙ 13y ago
It is possible. It is not likely to be very favorable terms, but if the bank is willing to do it, they can. Consult with your bank that knows what the rules are for where you live.
Wiki User
∙ 13y ago
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How do you get a co-borrower off a mortgage?
You need to pay off the mortgage and refinance in your own name if you are the sole owner of the real estate.
Can a married couple get a mortgage in only one name in Oregon?
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.
How do you buy out a spouse's mortgage?
You must pay off the mortgage and refinance. As part of the transaction your spouse must convey their interest in the real estate to you then you can refinance in your own name providing you qualify according to to the lenders requirements.You must pay off the mortgage and refinance. As part of the transaction your spouse must convey their interest in the real estate to you then you can refinance in your own name providing you qualify according to to the lenders requirements.You must pay off the mortgage and refinance. As part of the transaction your spouse must convey their interest in the real estate to you then you can refinance in your own name providing you qualify according to to the lenders requirements.You must pay off the mortgage and refinance. As part of the transaction your spouse must convey their interest in the real estate to you then you can refinance in your own name providing you qualify according to to the lenders requirements.
My mother is deceased I am the executor of her estate there was a mortgage on a mobile home and my name is not on the loan so if the mortgage company forecloses am I liable for the loan amount?
If the mobile home and mortgage are in your mother's name alone then you are not personally responsible for paying the loan. However, your mother's estate is responsible for her debts. If the loan isn't paid the bank will foreclose on the property and is entitled to any other assets if there is a deficiency.
I have a life estate can I get a reverse mortgage on this property?
You may be able to get a reverse mortgage with the written consent of the fee owners. However, the lender may require the property be transferred to your name alone.
How do you stop foreclosure on deceased person's home?
You can contact the bank and make arrangements to pay the mortgage. If you can't pay, the foreclosure can be continued and the lender will name the estate and the estate representative in the foreclosure documents.You can contact the bank and make arrangements to pay the mortgage. If you can't pay, the foreclosure can be continued and the lender will name the estate and the estate representative in the foreclosure documents.You can contact the bank and make arrangements to pay the mortgage. If you can't pay, the foreclosure can be continued and the lender will name the estate and the estate representative in the foreclosure documents.You can contact the bank and make arrangements to pay the mortgage. If you can't pay, the foreclosure can be continued and the lender will name the estate and the estate representative in the foreclosure documents.
How do you get a co-borrower off a mortgage?
You need to pay off the mortgage and refinance in your own name if you are the sole owner of the real estate.
When I pass away and my daughter inherits my home will the home mortgage increase?
If the mortgage is not in her name as a joint tenant, the house will have to be made a part of the estate. The estate will have to satisfy the mortgage. The bank may allow the new owner to assume the existing mortgage, but they are more likely to want to establish a new one. You should really consult an attorney in your area for estate planning purposes.
Can a married couple get a mortgage in only one name in Oregon?
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.
Does the life estate person or the remainder men in a life estate pay for the mortgage that is on home deed only in person who died name but mtg is in both person who died and his wifes name?
Look to the instrument that created the interests. If the instrument is silent on this point, in most cases, the decedent's wife is obligated since her name is on the mortgage. Option: If this is not desired, someone else (life estate tenant or remainderman) may refinance and pay off first mortgage.
What happens if you purchase real estate from an estate with the estate holding the mortgage then the estate account is closed by the trustee and payments are now going to a personal account?
You should review this situation with an attorney. You are the mortgagor. There is a mortgagee to whom the money is owed and the name of the mortgagee should be recited in the mortgage document. The heirs should be listed as the mortgagees since they were the legal owners of the real estate. An attorney should review the mortgage and the recipient of your payments to make certain you are paying the correct party.
What can I do my husband died my name is on deed not mortgage can I sell the house?
This is where having an estate would be a big help. The estate essentially represents your husband. Yes, you are going to be able to sell the house, subject to the mortgage, of course. Whether you have to use the estate or not to do so, the bank will tell you. Consult a probate attorney and they will help you out.
Your dad died and he was the only name on the mortgage is your mom responsible for the mortgage?
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.
How do you buy out a spouse's mortgage?
You must pay off the mortgage and refinance. As part of the transaction your spouse must convey their interest in the real estate to you then you can refinance in your own name providing you qualify according to to the lenders requirements.You must pay off the mortgage and refinance. As part of the transaction your spouse must convey their interest in the real estate to you then you can refinance in your own name providing you qualify according to to the lenders requirements.You must pay off the mortgage and refinance. As part of the transaction your spouse must convey their interest in the real estate to you then you can refinance in your own name providing you qualify according to to the lenders requirements.You must pay off the mortgage and refinance. As part of the transaction your spouse must convey their interest in the real estate to you then you can refinance in your own name providing you qualify according to to the lenders requirements.
My mother is deceased I am the executor of her estate there was a mortgage on a mobile home and my name is not on the loan so if the mortgage company forecloses am I liable for the loan amount?
If the mobile home and mortgage are in your mother's name alone then you are not personally responsible for paying the loan. However, your mother's estate is responsible for her debts. If the loan isn't paid the bank will foreclose on the property and is entitled to any other assets if there is a deficiency.
I have a life estate can I get a reverse mortgage on this property?
You may be able to get a reverse mortgage with the written consent of the fee owners. However, the lender may require the property be transferred to your name alone.
If our mom is deceased and she had a home in her name but a second mortgage on it and no will is it mine and my other siblings right to continue paying on the loan and then assume title of the estate?
You need to probate your mother's estate in order to pass title to the real estate to her children. The bank should be notified of her death and should also be willing to allow you to assume the mortgage payments. If the terms of the mortgage are reasonable then try to negotiate an assumption of the existing mortgage rather than a refinance. You should seek the advice of an attorney.
