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No but if it's the same bank, the rates and closing costs will be the same but the individual broker may cut a fee or two for you..

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โˆ™ 2006-04-08 22:00:50
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Q: If two separate mortgage brokers are working with the same bank does this create a conflict of interest for the borrower?
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When a second mortgage is in foreclosure does the first mortgage show as a foreclosure?

No, they are two separate loans. If the second mortgage is foreclosed the lender takes possession of the property subject to the first mortgage. The borrower no longer owns the property.


If your attorney and the judge for your case are co defendants in an unrelated separate trial is this a conflict of interest?

If a judge and a lawyer are under trial, they shouldn't be practising. You can probably apply for a mistrial or something, under conflict of interest or incompetency.


If an attorney represented your granny and now represents your ex is that a conflict of interest?

not if her case is finished. also if they are separate cases that doesn't deal directly with your granny and you ex then the attorney can accept both cases without conflict of interest.


If an unmarried couple separate and the co-owner is the one who leaves the home can he ask the mortgage lender to be removed?

Mortgage loans are contractual obligations that cannot be terminated by agreement, divorce or any other means. Your only option for getting off the mortgage is for the remaining spouse to refinance in their name only. I've even had clients who had their names removed from the mortgage companies records, IN CUSTOMER SERVICE. That made it difficult to verify the mortgage. But, never at any time, was the borrower relieved of liability. The contract is never changed, or superceeded. If a mortgage loan has been granted to any two people; the lender has made a loan for a substantial amount of money that they want repaid. You can bet that they are not going to simply release a borrower from the liability because the two people go separate ways.


What are the legal rights of an unmarried couple to a home when they are separate and both their names are on the deed but only one is the mortgage holder for the house?

The answer depends on the details that were not included and its a complicated situation. In order for the lender to perfect their interest in the mortgaged real estate, all the owners must sign the note and mortgage.If your name was on the deed as joint owner before the mortgage was granted and only the other owner signed that mortgage then the bank can only foreclose on the co-owner's half interest if the mortgage isn’t paid. Your half interest would be free of the mortgage. Generally, if you own an interest in real property and don't sign the mortgage, the bank cannot foreclose on your interest in the case of a default since YOU did not transfer your interest to the bank.If your name was added by deed after the mortgage was granted then your interest in the property is subject to the mortgage. If the mortgage isn't paid the bank can take possession of the property. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage. That means if the sole owner of the property grants a mortgage and then transfers an interest in the property to another person, the bank can demand the full payment of the mortgage- immediately.If there is no issue with the mortgage being paid and if you acquired a half interest by a valid deed then you will be paid half of the net proceeds if the property is sold. You are also responsible for paying the property taxes.


When can a lawyer be considered in a conflict of interest?

An example might be if he represents two separate clients both charged wtih the same offense.


Will a deed in lieu of foreclosure affect your credit record if you are on the deed in joint tenancy but did not signed the note or mortgage?

If you were a joint owner and didn't sign the mortgage then the bank cannot foreclose on your interest in the property. Therefore, you shouldn't sign a deed in lieu of foreclosure. Only the borrower in default should sign that deed. The lender erred by not having all the fee owners sign the note and mortgage. If only one owner signed then the bank only received that person's interest in the property. If you want to sell your interest to the bank it should conveyed by a separate deed with you alone as the grantor. If your name was added after the original owner granted the mortgage the situation is different. You should seek the advice of a real estate attorney who could advise you about your rights and how to make the transfer properly so it doesn't have an effect on your own credit.


What conflict in values is expressed by the phrase separate but equal?

What conflict in values is expressed by the phrase separate but equal


What is the legal ground for the co-borrower to demand restitution payment from the borrower in case of failure of repayment of student bank loan by the borrower if the co-borrower has made all necess?

Unless there is a separate legal agreement or order between the 2 borrowers, there is absolutely no legal recourse whatsoever.


How do two people get separate mortgages to buy the same house?

While it is theoretically possible for two co-owners of a property to obtain separate mortgages, lending institutions are unlikely to provide such a mortgage because of the difficulties in enforcing the mortgage, should the need arise. A private lender might do so, but the interest rate is likely going to be significantly higher than it otherwise might be.


We own rental property in Texas The mortgage and deed are in my name only We are planning to separate but not divorce I want to buy his interest Can I transfer his interest via a quit claim deed?

Yes you can transfer his interest using a quit claim deed. There might be a more effective way to do this and you should consult an attorney for advice.


How do you separate your interest on MySpace?

caca


How can you learn about quicken loan mortgage online?

Quicken loan have their own website which has a section on mortgage rates and includes a mortgage calculator. It also has a separate section on reverse mortgages.


What are is the main conflict in the story of rangers apprentice?

Each book in the series has a separate conflict.


Can two people have separate mortgages for a single property?

Generally no, all the owners of a property (and in many states their spouses) must sign a deed of trust or mortgage. The purpose of the mortgage is to give the lender the authority to take possession of the property by foreclosure in case of a default. When all the owners haven't signed, it's usually because someone (at a bank, title company or law firm) has made an error. If a mortgagor defaults following a properly executed mortgage, the lender can take possession of the property by foreclosure and sell it. If all the owners (and spouses in some states) didn't sign the mortgage then the lender can take only the interest of the owner who did sign the mortgage and cannot take the interest of the owner who did not. Therefore, the lender could not take 100% ownership or possession of the property by foreclosure because it has no claim to the non-mortgagor's interest. However, remember that what we typically call a "mortgage" involves TWO legal documents, a promissory note AND a recorded document called either a "deed of trust" or "mortgage" depending on state law. It is the promissory note which obligates the borrowers to repay the debt, not the recorded deed of trust or mortgage. The deed of trust/mortgage is the consent by the OWNERS of the property to use that property as collateral for the loan. The borrowers signing the note and the owners ("mortgagors") signing the mortgage do not have to be the same people (although in residential mortgages there is usually at least one person who is both a note borrower AND a mortgagor). It is not always possible to determine from the recorded mortgage who is responsible for the repayment of the note


Is an equity line of credit considered a second mortgage?

YES IT IS you are borrowing on the equity of your home and the loan institution will hold a lien on it.AnswerA Home Equity Line of Credit (HELOC) differs from a second mortgage. A HELOC is a secured revolving account. The total is set by the lender and is determined by appraised value of the real property used as collateral. The borrower may access all or part of the amount available to them . The amount can be repaid at variable terms, interest only, lump-sum, or interest and principle. The fees associated with HELOCs are generally much less and interest is paid only when money is accessed and only on the exact amount drawn.A second mortgage reports on the credit bureaus as an installment loan. Similar to a 1st mortgage, it is a loan for a set amount and must be repaid in specific terms each month. This type of loan is secured by a separate (secondary) lien on the property and must be paid exactly as stated in the loan documents. Fees and taxes for a second mortgage are similar to a first mortgage, varying only by the percentages (since 2nd's are typically for a much lower $ amount). There is much less flexibility in this type of loan.


Can a husband buy a house without his wife's consent?

In a separate property state, yes. There may be problems in a community property state not with consent but with your wife obtaining an ownership interest by law. If you need a mortgage in a community property state your wife may need to sign her consent. You should obtain legal advice for your state before you buy.In a separate property state, yes. There may be problems in a community property state not with consent but with your wife obtaining an ownership interest by law. If you need a mortgage in a community property state your wife may need to sign her consent. You should obtain legal advice for your state before you buy.In a separate property state, yes. There may be problems in a community property state not with consent but with your wife obtaining an ownership interest by law. If you need a mortgage in a community property state your wife may need to sign her consent. You should obtain legal advice for your state before you buy.In a separate property state, yes. There may be problems in a community property state not with consent but with your wife obtaining an ownership interest by law. If you need a mortgage in a community property state your wife may need to sign her consent. You should obtain legal advice for your state before you buy.


In A Separate Peace what are the Literary Devices?

conflict, theme....


How does setting affect conflict?

Setting might affect conflict, but usually the conflict is separate. Setting is just where and when the story is taking place, so that can be anywhere and at any time. Conflict is based more on characters because it comes from what they desire and are prevented from achieving.


What is the difference between refinance and home equity loans?

Both refinancing and home equity loans release finance from the equity a person holds in their property. The difference that a loan is taken out based on the amount of debt owed on the property against the value if it was sold, but is separate form your mortgage. Refinancing will replace your current mortgage with a new one. Equity Loans generally carry a higher rate of interest that a mortgage.


Is property acquired before marriage in a community property state considered to be community property?

Property acquired prior to marriage is separate property and remains separate unless the spouse is granted on title and contributes to the mortgage payments from community funds, then they acquire an interest in that separate property in proportion to their contributions. Paying insurance taxes, utilities is not considered a basis to make the property community.


You co-signed on your sons mortgage you have your own property in a life estate can your sons mortgage company have any rights to your property that is in the life estate?

If the property in which you have a life estate is a separate and distinct property from the property your son mortgaged (and you co-signed) then the lender has no rights in your life estate property. If the property your son mortgaged is the same property in which you have a life estate then if he defaults on the mortgage and the lender takes possession you will also your life interest in the property since you also signed the mortgage.


What is the difference between capitalized interest and accrued interest?

Capitalized interest is now part of the principle. Accrued interest is separate now, but can be capitalized later if not paid.


What are the rights of a co-borrower on a home loan?

A borrower and co-borrower on a loan share benefit and liability equally. The only practical difference between the two is that loans are generally priced (interest rate or fees) based on the primary borrowers qualifications (these qualifications may actually determine who is primary and who is secondary). While the primary borrower's name is first on documents for the loan, the co-borrower is equally liable and has the same rights. While your rights as co-borrower may not be less than the borrower, people often overestimate the rights of either party. For example, many divorcing spouses assume they have the right to call the lender and remove themselves from the loan, which is not the case. If you separate and there is no court order to refinance the loan and you never refinance it out of your name and the primary stops making payments, the lender has every right to collect from you and report the late payments on your credit.


How does compound interest differ from simple interest?

With compound interest, you earn interest on the interest. Basically the interest payments are reinvested into the account whereas with simple interest, you only earn interest on the original balance. The interest payments are kept separate of the balance that you invested i.e.: with a bond, the interest payments don't go into a balance, you just get a check for them or rather your broker receives the check on your behalf and deposits it into your money market account which is separate from the bond that you purchased.