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How long does it take the bank to foreclose a property when owner dies in California?
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∙ 13y ago
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∙ 13y ago
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Can the Mortgage be in your name and deed be in both your names not married?
All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.
Can a mortgage company foreclose when the mortgagor sold property and new owner cannot pay?
Yes. Property remains subject to a mortgage until the mortgage is paid off. If a person purchases property that is subject to a mortgage that the seller granted to a bank, the new owner must pay the mortgage or the bank can foreclose.
When there are two names on a deed can one get a mortgage loan or do both parties have to sign for the loan?
Al the owners must sign the mortgage or the bank will not be able to foreclose on the property in case of a default. If there is another owner you cannot grant a mortgage on their interest in the property.Al the owners must sign the mortgage or the bank will not be able to foreclose on the property in case of a default. If there is another owner you cannot grant a mortgage on their interest in the property.Al the owners must sign the mortgage or the bank will not be able to foreclose on the property in case of a default. If there is another owner you cannot grant a mortgage on their interest in the property.Al the owners must sign the mortgage or the bank will not be able to foreclose on the property in case of a default. If there is another owner you cannot grant a mortgage on their interest in the property.
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.
If money is borrowed against property with more than one owner do all have to sign for loan?
Yes. If all the owner's do not sign then the bank will not acquire a full interest in the property. If there is a default the bank can only foreclose on the interest of the owners who signed the mortgage.
Can a bank foreclose if you dont pay on a second mortgage?
Yes. The bank could foreclose and take possession of the property subject to the first mortgage.
What is the meaning of mortgage loan?
A Mortgage Loan is a loan granted by a bank or other financial institution on real property to any individual or group that has taken out the mortgage with the institution. The property remains in the posession of the owner so long as the payments on the loan are paid in timely fashion. If the owner defaults on the loan payment, however, then the bank has the right to foreclose on the property.
How much does it cost a bank to foreclose a property?
I THINK it is 25% of what is owed on the loan...as an average.
Can you find out what bank owns a foreclose property I want to purchase?
You would go to the land records office where the property is located and ask the staff to show you how to research a property by using the property address. A little research should reveal the present owner.
Who pays your home equity loan when you die?
Your estate is responsible. If the equity mortgage is not paid the bank will foreclose on the property.
What does it mean when a foreclosed property reads that the property owner sold property to the bank for 1000?
That means that the owner had some equity in the property. The bank agreed to give them some of that equity for a clear title.
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.
