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That will be decided by the judge or your attorneys.
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∙ 13y ago
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If you foreclose on your home and proceeds are not enough to pay the first and second mortgage what happens to the second mortgage lien?
You still owe the money to the mortgage provider.
What if sale of a house after a foreclosure doesn't cover the mortgage amount?
Then you still owe money to the bank.
Owe 65 thousand to first mortgage 40 thousand to second mortgage but second mortgage is foreclosing how will first mortgage get there money?
In foreclosure proceedings the 1st mortgage gets their money first. Either the 2nd mortgage will have to buy the 1st mortgage entirely and then sell your house or they will have to hope that whoever buys the mortgage at auction, will bid enough to pay them off.
Should you pay off a default loan before or after you apply for a Mortgage?
You should pay off your default loan before because you may not qualify for a mortgage loan because you already owe money.
What is forebearance in a mortgage?
Forebearance is a payment plan that allows you to catch up on money you owe your lender. You must be able to make your normal mortgage payment in addition to the extra amount that you and your lender agree upon.
In Texas would you owe your husband money for your house in divorce if you owned it for 8 years before you met?
it depends on the papers.
If you foreclose on your home and proceeds are not enough to pay the first and second mortgage what happens to the second mortgage lien?
You still owe the money to the mortgage provider.
When a mortgage is in husband's name only but wife and husband have joint tenancy with survivorship warranty deed in Georgia then husband dies without will does wife owe mortgage?
You haven't provided important details such as what came first- the mortgage or the survivorship deed. You should consult with an attorney to determine your obligations and options regarding the mortgage.
What if sale of a house after a foreclosure doesn't cover the mortgage amount?
Then you still owe money to the bank.
Can you find someone's place of employment if they owe you money?
where is my ex-husband employed?
Owe 65 thousand to first mortgage 40 thousand to second mortgage but second mortgage is foreclosing how will first mortgage get there money?
In foreclosure proceedings the 1st mortgage gets their money first. Either the 2nd mortgage will have to buy the 1st mortgage entirely and then sell your house or they will have to hope that whoever buys the mortgage at auction, will bid enough to pay them off.
Are you debt free if you have a mortgage?
No. You are in debt as much as you still owe on the mortgage.
Can they take your house if owe a mortgage?
yes
Can the mortgage company keep homeowner claim money that is left over?
Yes, If money is still owed on the property. The mortgage company is a co-owner and a co-insured until the mortgage note is paid off. Of course, these funds would have to be credited to any amounts you still owe on the property.
Should you pay off a default loan before or after you apply for a Mortgage?
You should pay off your default loan before because you may not qualify for a mortgage loan because you already owe money.
What is forebearance in a mortgage?
Forebearance is a payment plan that allows you to catch up on money you owe your lender. You must be able to make your normal mortgage payment in addition to the extra amount that you and your lender agree upon.
How can one use the BBC mortgage calculator?
To use a mortgage calculator, you type in the length of your mortgage, the amount of principal that you owe, and your mortgage rate. It will then tell you what your payments will be.
