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I cosigned a mortgage for another person but I am not on the deed. What are my rights?
Wiki User
∙ 14y ago
Actually, you have no rights. All you have is an obligation to pay the mortgage if the primary borrower doesn't pay. If you co-signed a mortgage for property that is owned by another person you have offered to pay the mortgage even though you have no rights or interest in the property. If the borrower defaults the bank will go after you for payments just as you promised when you signed the mortgage. If the mortgage is foreclosed it will be reported on your credit record.
Wiki User
∙ 14y ago
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Does a homeowner have to agree to a bank selling their mortgage to another bank?
No. The bank owns the mortgage and can assign its interest in and rights under the mortgage to another entity. However, the assignee cannot change the terms of the mortgage and the assignment must be recorded in the land records so the holder by assignment can be identified.No. The bank owns the mortgage and can assign its interest in and rights under the mortgage to another entity. However, the assignee cannot change the terms of the mortgage and the assignment must be recorded in the land records so the holder by assignment can be identified.No. The bank owns the mortgage and can assign its interest in and rights under the mortgage to another entity. However, the assignee cannot change the terms of the mortgage and the assignment must be recorded in the land records so the holder by assignment can be identified.No. The bank owns the mortgage and can assign its interest in and rights under the mortgage to another entity. However, the assignee cannot change the terms of the mortgage and the assignment must be recorded in the land records so the holder by assignment can be identified.
Can I Transfer a mortgage in foreclosure to another name?
No. You have no authority to transfer a mortgage unless you are the lender. The lender can assign its rights under the mortgage to another lender. If you are the owner of the property transferring the property to another will violate the terms of the mortgage and may incur added expense to the foreclosure costs.
What are the legal rights of a cosigner on a mortgage?
legal rights of cosigner on mortgage
Can 1 person sell a home if 2 people are on mortgage but 1 signed over the deed?
The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.
What is a mortgage assigned?
A mortgage assignment is a legal document whereby a lender transfers all its rights under a note and mortgage to another lender. The property owner continues to make their payments to the new owner of that mortgage.
What are your rights with joint mortgage and you have split up and am am now paying all mortgage?
Each person who signed the mortgage is responsible for paying that debt. You should discuss your situation with an attorney, especially if the other person's name is also on the deed.
What rights do i have to a vehicle that my wife cosigned for me but the title is in her name because i don't have a license?
None
What are my rights if a loan I cosigned for isn't paid?
A co-signer is fully legally responsible for the debt of the loan if the other person on the loan fails to pay as per the signed loan contract. All rights and responsibilities are in the contract.
How is the bill of rights limited?
The Bill of Rights is limited at the point where a single person's rights begin to infringe on another person's rights. At this point, the infringing person is not protected by the Bill of Rights.
Can your ex girlfriend take your kids if the kids are not her kids?
No. She has no parental rights regarding another person's children unless she legally adopted them.No. She has no parental rights regarding another person's children unless she legally adopted them.No. She has no parental rights regarding another person's children unless she legally adopted them.No. She has no parental rights regarding another person's children unless she legally adopted them.
When mortgage holders die what are mine and the mortgage company rights?
If a mortgage holder (mortgagee) dies the rights under the mortgage pass to her heirs. If a mortgagor (borrower) dies the mortgage company has a lien on real estate that still must be paid.
Your son in law cosigned on a car loan the person has not made regular payments now this person plans on leaving the state for good can cosigner demand car remains here where he is he has helped out?
Sadly, no. Cosigning essentially affords no rights, only obligations.
