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Yes. When you borrow money you agree to all the provisions in the note and that includes other obligations apart from making the monthly loan payments. You also agree to keep the property adequately insured against loss and to keep your property taxes current. The municipal expenses for real property must be paid on time. If you default on any of those other obligations and the bank must advance money to pay them in order to protect its interest in the property, you must reimburse the bank or it can foreclose.
What else can I help you with?
When is a car repossesed?
When the person misses too many payments.
Can jewelery be repossesed?
jewelry can only be repossesed if it was used as collateral to back up a purchase or if it is being rented, leased, or financed by a banking institution. if it solely owned by you and already paid for in full, it will not be repossesed. In most cases, cars are most frequently repossesed, (because payments on the car loan or lease were not paid on time) and in some cases homes (mortgage payments late, missed, etc.) basically, make your payments, and make them on time regardless of the item.
What will happen if you are late with car payments?
If you are late, depending on who you owe, you can get taken to a collection agency, charged fines and/or have your car repossesed. I actually know two people who couldn't do the payments, it may have been for a couple of months, and their cars were repossesed.
Can they do Repossession on your locked property?
can my car be repossesed from my locked back yard
How do you know if you car is going to be repossesed?
The best indicator is that you still owe on the car, and you have stopped making payments.
How can you get your repossessed boat back?
To get back a repossesd boat one should get in contact with the institution that repossesed it and see if there is any way to get it back. It is possible that the institution will let you pick the payments back up, probably with a fee for being ate and being repossesed, then you can have your boat back.
If someone has a motorcycle in their name but someone has the property and is behind on payments can the motorcycle be voluntary repossessed by the main name even though someone else has the property?
Yes it can.
Can a lender foreclose on a property even if the mortgage payments have been kept current?
No but if a home owner is behind on payments and needs a loan mod or short sale approval, proof is available at RestReport.com
Could you lose your home if you are behind on payments and your car rolls down hill into it?
Of course YOU WILL LOOSE YOUR HOUSE IF YOUR BEHIND ON PAYMENTS.
What are payments made for the use of land or property?
Payments made for the use of land or property are typically referred to as rent or lease payments. These payments are made by tenants or lessees to property owners or landlords for the right to occupy or use the property for a specified period. Additionally, in some contexts, such payments can also include fees for land use rights, such as royalties for natural resource extraction.
How many payments do you have to be behind to get your car repoed in GA?
no more than 2 payments
If you cosigned for a mobile home with your ex-wife and she is behind on the payments can you have her removed from the property and resell the home?
CONTACT the lender for available options in this matter. NO! Try to get a quit clain deed for her interests.
