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If the husband is the sole person on the mortgage and going into foreclosure can the wife buy the house from her husband to save the home?
Wiki User
∙ 15y ago
Probably. However, if it's a short sale, the lender will have to approve the sale. If it's not a short sale, they really don't care, they just want the money they are owed.
Wiki User
∙ 15y ago
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How do you prevent your home from going in to foreclosure?
By paying your mortgage payments on time.
Can your husband be notified that the house is in foreclosure if he is not on the mortgage?
He is not going to be notified by the mortgage comany unless he is on the loan. He could pick up your mail and read it though. You will also start receiving letters from various law firms in your area regarding the foreclosure which again he might find especially if he is still in the home.
Can a house be foreclosed on in a person's name who is not on mortgage but property is quick claimed to them and they quick claim property back into estate of deceased person name before foreclosure?
A mortgage in default can be foreclosed no matter how many times you quitclaim it around the family. Every person who receives the property by a quitclaim deed takes it subject to the mortgage. You may slow down the process a little and add to the costs of the foreclosure but the foreclosure rides on the person who had title at the time of the mortgage. THEY gave an interest in the property to the bank in exchange for cash. If the cash was not paid back the bank is going to take possession of the property. Subsequent owners only need to be given notice of the proceeding.
What happens if I let my second balloon mortgage go into default Is my home or 1st mortgage going to suffer?
Yes, it could. Any lien holder can initiate the foreclosure process - so if your 2nd mortgage goes into default, the mortgage company could choose to start foreclosure proceedings based on the default.
Can you make payments before you are 3 months late with you mortgage payment to stop foreclosure?
Yes, but contact your mortgage company and make the arrangements. Lenders always prefer making arrangements rather than going into foreclosure because they lose money on every house foreclosed on.
What if your husband died now mortgage company in Georgia has changed mortgage to your name even though you are not on the warranty deed at the courthouse and now going into foreclosure Help?
Help with what, exactly? I'm honestly not sure what you expected to happen. Did you think the mortgage company was just going to say "shoot, the guy on the mortgage died, I guess we're just out several hundred thousand dollars"? No. They're legally entitled to seek to recover the balance due on the mortgage from your husband's estate (which may effectively be "you"). The first step would be to contact the mortgage company and find out what you need to do to get out of foreclosure. If the house is actually foreclosed upon, you're out on the street in pretty short order (usually you have three days after the property is sold at auction before the new owner can send the sherriff in to forcibly evict you), so you'll want to do this RIGHT NOW to try to stop things from going that far. If the mortgage company doesn't want to work with you, then bankruptcy is one option. That would put a hold on any foreclosure proceedings until the bankruptcy is resolved. You'll need an attorney for this, and the attorney will be able to explain the details of exactly how it works.
Your name is on the mortgage and deed your son lives in the house it is going to foreclosure and he is going to sell what are your rights?
Your son can only sell his own interest in the property if you are a co-owner. However, he will have trouble finding a buyer for his interest because the bank is taking possession of the property by foreclosure. His selling of his interest would not stop the foreclosure unless his buyer paid all the outstanding debt on the mortgage. If he did find a buyer the buyer would become a co-owner with you. He cannot sell your interest. The foreclosure will affect your credit record as well as his.
Is there life after foreclosure?
Yes, definitely there is a life after foreclosure, you should find a reasonable place to live, and clear all your debt under your name. Remember that the foreclosure is an outcome of whatever underlying crisis is going on in your life that either impacted your income or caused expenses that made your mortgage unaffordable.
If you had a foreclosure two years ago and filed a chapter 13 bankruptcy last year that was dismissed when will you be able to get a new mortgage?
In theory you can get a new mortgage anytime, but it is going to be more dependent on your credit score, how much equity you have, and your mortgage payment history over the past 12-months. Your grading will be determined by how long ago you filed the BK and how long ago the foreclosure was filed, but you should be able to qualify for a new mortgage loan.
Can you evict your husband if you are still married and he pays part of the mortgage?
What are you going to use as a basis for eviction? The answer is no you cannot.
Is the executor of the estate liable for mortgage if foreclosure?
The executor is not personally liable for anything. The estate is liable for all of the debts. If the executor is going to inherit anything, there may not be anything for them to get.
I am divorced i have a quit claim deed on my ex's house she is going into foreclosure can the bank come after me?
If you didn't sign the mortgage then the bank can't come after you for payment in the case of a default. However, they can foreclose on the mortgage and take possession of the property notwithstanding the quitclaim deed to you.
