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I have not paid on my home loan in 20 years. The lender has never sent any notice. Do I have to pay it back or is there a time limit on the lender requesting the money?
Wiki User
∙ 13y ago
The answer depends on the following:
- Did you sign a mortgage? If so, was it recorded? If not, does the lender have a signed original?
- What is the statute of limitations for a mortgage in your state? In Massachusetts it is 35 years.
- If the lender has no proof of the loan then they may be out of luck. We need more details.
If it was a private loan and you never made any payments you may have placed the lender in an uncomfortable position of not wanting to have to demand payment from you. They may be asking now because the statute of limitations is coming up. If that is the case, you must pay up.
The answer depends on the following:
- Did you sign a mortgage? If so, was it recorded? If not, does the lender have a signed original?
- What is the statute of limitations for a mortgage in your state? In Massachusetts it is 35 years.
- If the lender has no proof of the loan then they may be out of luck. We need more details.
If it was a private loan and you never made any payments you may have placed the lender in an uncomfortable position of not wanting to have to demand payment from you. They may be asking now because the statute of limitations is coming up. If that is the case, you must pay up.
The answer depends on the following:
- Did you sign a mortgage? If so, was it recorded? If not, does the lender have a signed original?
- What is the statute of limitations for a mortgage in your state? In Massachusetts it is 35 years.
- If the lender has no proof of the loan then they may be out of luck. We need more details.
If it was a private loan and you never made any payments you may have placed the lender in an uncomfortable position of not wanting to have to demand payment from you. They may be asking now because the statute of limitations is coming up. If that is the case, you must pay up.
The answer depends on the following:
- Did you sign a mortgage? If so, was it recorded? If not, does the lender have a signed original?
- What is the statute of limitations for a mortgage in your state? In Massachusetts it is 35 years.
- If the lender has no proof of the loan then they may be out of luck. We need more details.
If it was a private loan and you never made any payments you may have placed the lender in an uncomfortable position of not wanting to have to demand payment from you. They may be asking now because the statute of limitations is coming up. If that is the case, you must pay up.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoThe answer depends on the following:
- Did you sign a mortgage? If so, was it recorded? If not, does the lender have a signed original?
- What is the statute of limitations for a mortgage in your state? In Massachusetts it is 35 years.
- If the lender has no proof of the loan then they may be out of luck. We need more details.
If it was a private loan and you never made any payments you may have placed the lender in an uncomfortable position of not wanting to have to demand payment from you. They may be asking now because the statute of limitations is coming up. If that is the case, you must pay up.
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When you owe money to another lender you are a .?
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A money lender
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No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.
What is an example of an open-ended mortgage loan?
Open-end mortgages permit the borrower to go back to the lender and borrow more money up to a certain limit and if certain conditions have been met. The additional funds are loaned at the interest rate of the original mortgage.A similar type mortgage would be an equity credit line mortgage.Open-end mortgages permit the borrower to go back to the lender and borrow more money up to a certain limit and if certain conditions have been met. The additional funds are loaned at the interest rate of the original mortgage.A similar type mortgage would be an equity credit line mortgage.Open-end mortgages permit the borrower to go back to the lender and borrow more money up to a certain limit and if certain conditions have been met. The additional funds are loaned at the interest rate of the original mortgage.A similar type mortgage would be an equity credit line mortgage.Open-end mortgages permit the borrower to go back to the lender and borrow more money up to a certain limit and if certain conditions have been met. The additional funds are loaned at the interest rate of the original mortgage.A similar type mortgage would be an equity credit line mortgage.
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This lender will do hard money loans in Seattle: http://www.dlendinggroup.com/
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You just had a car repossessed because you can no longer make the payments or maintain full insurance coverage Now the lender keeps trying to call you What should you do?
Depends on if you intend on paying the lender any money. Unless you file for bankruptcy they can call your house requesting that you repay them. At some point (saying you owe enough money to make it worth while) they can bring you to court and sue you. I think the statue of limitation for this type of lawsuit is 2 years (if they do not try to sue you in this time period then they cannot come after you ). If you plan on paying the lender, you can most likely make a deal that will only allow you to pay .50 on the dollar that you owe (the lender would rather receive half then nothing). If you do not intend on paying the lender, your best option is to not communicate to the lender (when they call).
