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If married and one spouse takes out a mortgage on their home without the other signing for the loan then he passes away can the lender force the surviving spouse out of the home?
Wiki User
∙ 10y ago
Generally, no. This is a complicated situation and the answer depends on various details.
If the property was jointly owned all the owners of the real estate must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure. If one owner didn't sign, the lender could only take possession of the interest of the borrower who did sign.
If the property was owned by survivorship and the single mortgagor died, full ownership may pass to the surviving owner and the bank would be out of luck. You should consult with an attorney who specializes in real estate law immediately. She must review the title to the premises and then will be able to explain your rights and options.
Wiki User
∙ 10y ago
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Can you mortgage without being on the title?
No. When you mortgage a property you are signing yourinterest over to the bank as collateral for the loan. You can't do that if you don't own the property.
What are some of the benefits of signing up for a cheap mortgage?
One of the biggest benefits for signing up for cheap mortgage is the price. It will not nearly cost as much money to pay back and will therefore give you a little boost without messing you up in the future.
What happens if you have a reverse mortgage and then marry someone who is under 62?
You granted the mortgage on your property and it would not be affected by your subsequent marriage. It is likely there is a clause in the mortgage that you cannot transfer any interest without the banks approval. That would prevent your adding a name to the title. Your property will remain subject to the mortgage and if you are still married at the time of your death either the bank will take possession of your home or your surviving spouse will need to pay off the mortgage if they want to keep the property. The amount due on reverse mortgages grows rather quickly.You granted the mortgage on your property and it would not be affected by your subsequent marriage. It is likely there is a clause in the mortgage that you cannot transfer any interest without the banks approval. That would prevent your adding a name to the title. Your property will remain subject to the mortgage and if you are still married at the time of your death either the bank will take possession of your home or your surviving spouse will need to pay off the mortgage if they want to keep the property. The amount due on reverse mortgages grows rather quickly.You granted the mortgage on your property and it would not be affected by your subsequent marriage. It is likely there is a clause in the mortgage that you cannot transfer any interest without the banks approval. That would prevent your adding a name to the title. Your property will remain subject to the mortgage and if you are still married at the time of your death either the bank will take possession of your home or your surviving spouse will need to pay off the mortgage if they want to keep the property. The amount due on reverse mortgages grows rather quickly.You granted the mortgage on your property and it would not be affected by your subsequent marriage. It is likely there is a clause in the mortgage that you cannot transfer any interest without the banks approval. That would prevent your adding a name to the title. Your property will remain subject to the mortgage and if you are still married at the time of your death either the bank will take possession of your home or your surviving spouse will need to pay off the mortgage if they want to keep the property. The amount due on reverse mortgages grows rather quickly.
How does a person get a second mortgage on there home and not know it?
Maybe signing papers without reading them.Umm... Can I have your autograph on this blank check please?
How do you remove the co signer on the mortgage?
The mortgage must be paid off and refinanced without the co-signer.The mortgage must be paid off and refinanced without the co-signer.The mortgage must be paid off and refinanced without the co-signer.The mortgage must be paid off and refinanced without the co-signer.
Is a mortgage note invalid without the lender signing?
No, it is still valid
Your mother is a life estate tenant can you refinance without her signing any papers?
No. Your mother would need to consent to the mortgage by signing it. The lender will discover her interest when it has the title checked and will insist that she signs the mortgage.
Can you mortgage without being on the title?
No. When you mortgage a property you are signing yourinterest over to the bank as collateral for the loan. You can't do that if you don't own the property.
Can you get married at the age of 17 without a guardian signing?
No, not until you are 18.
What are some of the benefits of signing up for a cheap mortgage?
One of the biggest benefits for signing up for cheap mortgage is the price. It will not nearly cost as much money to pay back and will therefore give you a little boost without messing you up in the future.
What happens if you have a reverse mortgage and then marry someone who is under 62?
You granted the mortgage on your property and it would not be affected by your subsequent marriage. It is likely there is a clause in the mortgage that you cannot transfer any interest without the banks approval. That would prevent your adding a name to the title. Your property will remain subject to the mortgage and if you are still married at the time of your death either the bank will take possession of your home or your surviving spouse will need to pay off the mortgage if they want to keep the property. The amount due on reverse mortgages grows rather quickly.You granted the mortgage on your property and it would not be affected by your subsequent marriage. It is likely there is a clause in the mortgage that you cannot transfer any interest without the banks approval. That would prevent your adding a name to the title. Your property will remain subject to the mortgage and if you are still married at the time of your death either the bank will take possession of your home or your surviving spouse will need to pay off the mortgage if they want to keep the property. The amount due on reverse mortgages grows rather quickly.You granted the mortgage on your property and it would not be affected by your subsequent marriage. It is likely there is a clause in the mortgage that you cannot transfer any interest without the banks approval. That would prevent your adding a name to the title. Your property will remain subject to the mortgage and if you are still married at the time of your death either the bank will take possession of your home or your surviving spouse will need to pay off the mortgage if they want to keep the property. The amount due on reverse mortgages grows rather quickly.You granted the mortgage on your property and it would not be affected by your subsequent marriage. It is likely there is a clause in the mortgage that you cannot transfer any interest without the banks approval. That would prevent your adding a name to the title. Your property will remain subject to the mortgage and if you are still married at the time of your death either the bank will take possession of your home or your surviving spouse will need to pay off the mortgage if they want to keep the property. The amount due on reverse mortgages grows rather quickly.
Can someone use your vehicle as collateral on a loan without you signing the loan?
Not LegallyUnlessYou are married
How does a person get a second mortgage on there home and not know it?
Maybe signing papers without reading them.Umm... Can I have your autograph on this blank check please?
Can a person sign the note without signing the mortgage if they don't own the property?
By signing you are taking on the other person's debt. If they don't pay the bank will go after you for the balance of the note and a default will ruin your credit.
Are Cecilia Suyat and Thurgood Marshall still married after his death?
No, once you die you are no longer married and the surviving party can remarry without a divorce.
Your house is titled Joe Smith and Mary Smith Does ownership of the house go automatically to the surviving spouse?
If joe and Mary are married, and the house was bought using "Tenants in the Entirity" (which is the default for married buyers), then yes, the ownership of the house passes to the surviving spouse without any tax consequences. It's a privilege given to married people that single people do not have.
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