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How do you foreclose on real estate that you have a mortgage on?
Wiki User
∙ 14y ago
Foreclosure laws are different in each state. I would contact an attorney in the state where the property is located. If you are a consumer wondering how the process will look a local real estate agent will likely be able to give you a quick course and help you decide what your best options are.
Wiki User
∙ 14y ago
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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.
what happens to seller held mortgage when mortgagor dies?
If it ws done properly, the mortgage is a lien against the real estate. If the mortgage is not paid by the estate then the holder of the mortgage can foreclose and take possession of the property. You should consult with an attorney who can review the situation and explain your options.If it ws done properly, the mortgage is a lien against the real estate. If the mortgage is not paid by the estate then the holder of the mortgage can foreclose and take possession of the property. You should consult with an attorney who can review the situation and explain your options.If it ws done properly, the mortgage is a lien against the real estate. If the mortgage is not paid by the estate then the holder of the mortgage can foreclose and take possession of the property. You should consult with an attorney who can review the situation and explain your options.If it ws done properly, the mortgage is a lien against the real estate. If the mortgage is not paid by the estate then the holder of the mortgage can foreclose and take possession of the property. You should consult with an attorney who can review the situation and explain your options.
If Mortgage note is in one persons name and the deed to property is in another can mortgage company foreclose and take both house and land?
Yes. ==Clarification== The mortgage company can only foreclose if the OWNER of the real estate signed the mortgage. If someone other than the owner signed the mortgage the bank has no interest in the property and therefore cannot foreclose.
What recourse does a second mortgage holder have against you if you don't pay that mortgage?
If you don't pay the mortgage the second mortgagee can foreclose and take possession of the real estate subject to the first mortgage. Many of them do just that.
Where does the borrower authorize the lender to foreclose?
The homeowners and lender sign a note and a Mortgage or Deed of Trust to create a security interest in the real estate. The right to foreclose in the case of a default is set forth in the mortgage clause entitled "Power of Sale".
Can mortgage company foreclose on an estate home in probate?
Yes, if the mortgage is in default.Yes, if the mortgage is in default.Yes, if the mortgage is in default.Yes, if the mortgage is in default.
Whose responsible for the mortgage if the mortgage lienholder did not file against the estate before the closing of the estate in probate court?
A mortgagee does not need to file a claim against the estate when the mortgagor dies. The mortgage is a lien against the real estate. Generally, the boilerplate language in a mortgage document gives the mortgagee the power to take possession of the property and sell it if there is a default. If the mortgage isn't paid the mortgagee will foreclose. If the beneficiaries want to keep the real estate they must make arrangements with the bank to pay the mortgage. You should consult with the attorney who is handling the estate.
A mortgage is in the husband's name the deed is in the wife's maiden name along with the husband's. If the husband dies is the wife responsible for the mortgage that she did not sign?
She is not responsible for paying the mortgage if she didn't sign it. Furthermore, if the bank tried to foreclose, it could only take possession of the husband's half interest. The wife should contact an attorney who specializes in real estate law.She is not responsible for paying the mortgage if she didn't sign it. Furthermore, if the bank tried to foreclose, it could only take possession of the husband's half interest. The wife should contact an attorney who specializes in real estate law.She is not responsible for paying the mortgage if she didn't sign it. Furthermore, if the bank tried to foreclose, it could only take possession of the husband's half interest. The wife should contact an attorney who specializes in real estate law.She is not responsible for paying the mortgage if she didn't sign it. Furthermore, if the bank tried to foreclose, it could only take possession of the husband's half interest. The wife should contact an attorney who specializes in real estate law.
If a husband dies will a wife be responsible for the mortgage debt even if she is not on the note?
His estate will be responsible for the mortgage. Assuming the wife is not on the deed, if the mortgage isn't paid the bank will foreclose and take possession of the property covered by the mortgage. If the wife is on the deed and she consented to the mortgage the bank can foreclose. If she is on the deed and did not consent to the mortgage then the bank had a defective title and may not be able to foreclose.
Is mortgage better than a loan?
A mortgage is a loan secured by your real estate. If you own real property you can borrow more with a mortgage.A mortgage is a loan secured by your real estate. If you own real property you can borrow more with a mortgage.A mortgage is a loan secured by your real estate. If you own real property you can borrow more with a mortgage.A mortgage is a loan secured by your real estate. If you own real property you can borrow more with a mortgage.
How do you back a real estate mortgage?
Backing a real estate mortgage involves using the property as collateral for the loan, securing it until repayment.
What means is 'mortgage value' as related real estate?
what means 'mortgage value' as the real estate property
