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You and your husband are the legal owners of the property but it is subject to the mortgage. If you default on the mortgage payments the bank can take possession of the property by foreclosure.

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โˆ™ 2008-11-04 14:05:28
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Q: If the deed of the house is in your husbands and your name and you are paying the original owners mortgage what are your legal rights to the home?
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Related questions

What to do if your name is the thrid name on a time share deed that was foreclosed on?

All three owners are equally responsible for paying the mortgage and the foreclosure will affect all owners equally. You can avoid foreclosure by paying the mortgage.


Does house insurance cover a mortgage if the holder dies?

NO Home Owners insue covers the Home. You might look to Mortgage Insurance for paying a mortgage.


Should husband and wife both be on mortgage?

The owners of the property must sign the mortgage. A party who is not an owner should not sign the note and mortgage since they would be taking responsibility for paying for property they do not own.The owners of the property must sign the mortgage. A party who is not an owner should not sign the note and mortgage since they would be taking responsibility for paying for property they do not own.The owners of the property must sign the mortgage. A party who is not an owner should not sign the note and mortgage since they would be taking responsibility for paying for property they do not own.The owners of the property must sign the mortgage. A party who is not an owner should not sign the note and mortgage since they would be taking responsibility for paying for property they do not own.


Can you voluntarily dissolve your mortgage with your lender?

Yes, by paying it off in full. You should review your original mortgage document to determine if there is a pre-payment penalty if you will be paying it off early.


Can I refinance my mortgage taking my ex husband off while adding a different person who has better credit than me?

The owners of the property must sign the mortgage so the lender can take possession by foreclosure in the case of a default. Any co-signer should be fully informed that they will be responsible for paying the mortgage if the primary borrower defaults.The owners of the property must sign the mortgage so the lender can take possession by foreclosure in the case of a default. Any co-signer should be fully informed that they will be responsible for paying the mortgage if the primary borrower defaults.The owners of the property must sign the mortgage so the lender can take possession by foreclosure in the case of a default. Any co-signer should be fully informed that they will be responsible for paying the mortgage if the primary borrower defaults.The owners of the property must sign the mortgage so the lender can take possession by foreclosure in the case of a default. Any co-signer should be fully informed that they will be responsible for paying the mortgage if the primary borrower defaults.


How can a second mortgage loan be discharged?

Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.


IS THERE ANY GRANTS FOR PAYING YOUR MORTGAGE?

HELP MFORM PAYING YOUR MORTGAGE


Where does most of the money go in a mortgage?

In the typical 30 year mortgage, the first 20 years are mostly paying interest on the loan. You can expect to pay about 2.5 times of the original mortgage price for the life of the loan.


Can you qualify for a Reverse mortgage with balance owed on original mortgage?

Yes. The reverse mortgage must however pay off the existing mortgage balance, which means you need some equity to make the qualification work. If there is not enough equity in the home to qualify for a reverse mortgage you may choose to bring in the amount needed to finish paying off the existing mortgage- thus eliminating the mortgage payments for good.


My husband cosigned for my 2nd mortgage and he is not on the first mortgage. if we have the same lender for both mortgages and we quit paying on the first mortgage how fast will his credit be impacted?

Since he is not listed as a borrower on the first mortgage his credit is not affected by paying or not paying that mortgage. Even if both loans are with the same company, he is only held responsible for the loan in which he signed.


Do you need to purchase home owners insurance in order to obtain a mortgage?

It depends on the agreement, in some cases yes because if you are paying for the house through mortgage then they want to make sure that everything is able to be replaced if it breaks, but in most cases no, your insurance is separate to the mortgage so you don't need to worry


Who pays the mortgage on deceased parent's home?

Unless there was some sort of mortgage insurance, the estate is responsible for paying the mortgage. If the mortgage isn't paid the lender will take possession by foreclosure. If the heirs want to keep the property they must keep paying the mortgage.


Will a mortgage company typically allow one borrower if the property is titled in two names?

All the owners will need to sign the mortgage so the lender can take possession of the property by foreclosure in the case of a default. Only one can sign the note agreeing to be responsible for paying the loan if the lender agrees.All the owners will need to sign the mortgage so the lender can take possession of the property by foreclosure in the case of a default. Only one can sign the note agreeing to be responsible for paying the loan if the lender agrees.All the owners will need to sign the mortgage so the lender can take possession of the property by foreclosure in the case of a default. Only one can sign the note agreeing to be responsible for paying the loan if the lender agrees.All the owners will need to sign the mortgage so the lender can take possession of the property by foreclosure in the case of a default. Only one can sign the note agreeing to be responsible for paying the loan if the lender agrees.


Does wife's co signing a mortbage make her a joint owner?

No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.


If a home is rented and goes into default who will be held responsible for the tenants the owner on deed but not mortgage or the other owner on deed and mortgage or mortgage company that forecloses?

First, default just means not paying. The mortgage company has nothing to do with the tenants until there is a foreclosure sale. The two owners on the deed are the landlords. After a foreclosure sale, the bank must give at least 90 days notice to tenants.


How much will your credit scores increase after paying off a mortgage?

Your credit score will decrease after paying off your mortgage if everything else remains the same. Our credit score has been decreasing since paying off our mortgage 5 years ago. The suggestions for increasing our credit score were to take out a mortgage or take out a car loan.


Can you take your partners name of a joint mortgage if they are not paying their half of the mortgage as per agreement?

no


What is home equity loan refinancing?

Home equity loan refinancing means paying off an existing mortgage with the proceeds from a new loan, using the same property as collateral. It is a second mortgage. It is important to note that you may be subject to the same costs you paid to get your original mortgage, including settlement costs, discount points and other fees. A prepayment penalty may apply for paying off the original mortgage early. The amount you save will vary depending upon factors such as interest rates, refinancing costs and tax consequences. Borrowers may have the option to refinance from an adjustable rate mortgage with a high interest rate subject to increases to a lower fixed-rate mortgage.


What happens if the partner on the mortgage loan moves out nd stops paying?

The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.


If your home owners insurance is part of your mortgage payment and you stop paying your mortgage what happens to your insurance coverage?

Once you have defaulted on your mortgage or have gone into foreclosure all your rights on the homeowners policy are null and void. all rights of recovery revert to the Mortgage company. Basically you become uninsured and the mortgage company remains insured through the policy term. Also if the policy gets cancelled due to the foreclosure any refunds belong to the mortgage company.


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.


Is paying off my mortgage in full a good idea?

Yes, paying off your mortgage in full is a great idea as you can escape the loan and have peace of mind at night. You can also have more flexibility in your finances as you have no monthly mortgage payment to make.


Can a remainder interest owner be held responsible for paying a mortgage?

If they signed the mortgage they are responsible for paying it. Generally the holder of a life estate who wants a mortgage on the property must obtain the written consent of the remainders for the mortgage to be valid as against the real estate. The written consent is the same as cosigning the mortgage.If they signed the mortgage they are responsible for paying it. Generally the holder of a life estate who wants a mortgage on the property must obtain the written consent of the remainders for the mortgage to be valid as against the real estate. The written consent is the same as cosigning the mortgage.If they signed the mortgage they are responsible for paying it. Generally the holder of a life estate who wants a mortgage on the property must obtain the written consent of the remainders for the mortgage to be valid as against the real estate. The written consent is the same as cosigning the mortgage.If they signed the mortgage they are responsible for paying it. Generally the holder of a life estate who wants a mortgage on the property must obtain the written consent of the remainders for the mortgage to be valid as against the real estate. The written consent is the same as cosigning the mortgage.


In Florida if your parents are refinancing would your spouse need to sign the mortgage?

Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.


Your name is on the mortgage not on the deed. How do you get it off the mortgage?

Only by refinancing, paying off the mortgage, with consent of the mortgagee or by court order that is binding on the lender.