0
Does a new mortgage company have to honor a loss mitigation contract from the previous mortgage company that was current with payments?
Wiki User
∙ 15y ago
Only if the Mortgagor (borrower) had a signed agreement with the previous mortgage servicer working for the Mortgagee (lender). And then only if the Mortgagor was able to obtain a written agreement from the Mortgagee. Otherwise the Mortgagor is in no position outside a lawsuit to force performance. In most situations, the Mortgagor cannot afford to sue the Mortgagee for enforcement. In many cases the Mortgagor cannot get a written agreement to modify the Trust Deed or Promissory Note. This is my experience as of 12/05/08. Caveat Emptor is still the rule.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
If someone was given an auto and title with no contract but cannot make agreed payments what are the rights of the title holder or the previous owner?
It would be the previous owner's loss.
I had Taylor bean and whatker for my mortgage company Bank of American took the mortgage company over why did my payments go up and were do I send them too?
I need to know why my payments went up after I found out bank of America took over my previous mortage company?
Is mortgage an example of annuities due?
No, mortgage payments are due in the beginning of the month like rent; however, the mortgage payment covers the previous month's interest and principle on the mortgage loan. Rent is an "annuity due" because it is paid in adavance to cover the next 30 days to follow.
What is the formula for finding the amortization schedule for at least 3 monthly payments of a 30-yr loan?
The mortgage lender will supply the borrower with a complete amortization schedule when requested. The schedule will show previous payments made and the application of all future payments until the completion of the loan.
Can you qualify for a mortgage even though you are a co-signer on someone's loan?
As long as you can prove that the primary borrower has made payments on the mortgage for at least the previous 12 months(ie. cancelled checks or bank statements with record of payment) then you would qualify for another mortgage. If you have any questions you can email me or call me 214)607-1445
How can you ask for copies of your Mortgage interest statements for previous years?
Yes, contact your mortgage company.
What is evergreen status on a contract?
In the absence of a new contract, the previous remains in effect.
How far behind in your mortgage can you get before your mortgage company starts foreclosure proceedings?
It usually depends on a Mortgage Bank and also on the individuals previous credit ratings.
How are unemployment payments determined?
They are based upon your previous earnings.
Which companies online offer a free mortgage quote?
Bank Rate is a good company with a free refinance mortgage calculator that you can use to estimate what a refinance will do with your mortgage payments. Also the calculator will help assist to see the savings difference that you will be saving with a different or lower interest rate to see if in fact the refinance will save you money and allow enough money to use your equity that you may have on your previous loan.
If the terms of a no-compete contract are changed and a new contract is presented does the previous contract become void?
Yes, unless otherwise stated in the new contract
Can you use your previous rental payments to pay towrad a down payment on a mortgage?
No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.
