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This would be a most uncommon situation...you own the proerty but other people have it mortgaged? Your bankruptcy effects everything you own, not just what you may owe on. Your ownership of this property is included.

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โˆ™ 2007-06-01 13:27:04
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Q: If you are a title holder of real property but are not on the mortgage loan and or mortgage note of that property can a lien be placed against the real property if you file bankruptcy?
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Does mortgage holder or deed holder sign at closing?

If the property is subject to a mortgage the mortgage must be paid off at the time of the sale of the property to a new owner. The holder of the mortgage must provide a signed release of the mortgage that can be recorded in the land records.The owner of the property signs the deed that transfers the property to the new owner.The new owner of the property signs the new mortgage.


what happens to seller held mortgage when mortgagor dies?

If it ws done properly, the mortgage is a lien against the real estate. If the mortgage is not paid by the estate then the holder of the mortgage can foreclose and take possession of the property. You should consult with an attorney who can review the situation and explain your options.If it ws done properly, the mortgage is a lien against the real estate. If the mortgage is not paid by the estate then the holder of the mortgage can foreclose and take possession of the property. You should consult with an attorney who can review the situation and explain your options.If it ws done properly, the mortgage is a lien against the real estate. If the mortgage is not paid by the estate then the holder of the mortgage can foreclose and take possession of the property. You should consult with an attorney who can review the situation and explain your options.If it ws done properly, the mortgage is a lien against the real estate. If the mortgage is not paid by the estate then the holder of the mortgage can foreclose and take possession of the property. You should consult with an attorney who can review the situation and explain your options.


Can a second mortgage holder foreclose and force the property to be sold a public auction?

Yes. The second mortgage holder would take possession of the property subject to the first mortgage.


What happens to a mortgage loan when the sole loan holder dies and the property is titled Joint tenants with full rights of suvivorship?

The mortgage obligation remains on the property. If the holder of the mortgage dies then her heirs own the mortgage.


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.


How can you be responsible for code violations on business property discharged in bankruptcy in 1997 if the mortgage holder will not foreclose?

You are responsible as long as you are the legal owner of the property, Bankruptcy usually discharges certain debts including property related debts. If the mortgage company chose not to exercise their foreclose options then you may still be the legal owner of the property. Depending on the property valuation the mortgage note holder may have determined it more profitable not to proceed with a foreclosure process. Additionally; If fines were already issued prior to a foreclosure, you would still be liable for payment of those fines as well.


If your mortgage was not reaffirmed and it was discharged in bankruptcy do you have to repay it?

Any debt discharged through BK is cleared and no longer exists. The debt may no longer exist but the lien against the property still exists. While you do not have to pay the loan, the note holder can still take possession of the property.


How do i find out who mortgaged someone's home?

A property can only be mortgaged by someone that OWNS the property. A mortgage is a loan that is secured by the value of the property. I cannot get a mortgage on property that I do not own, since I have no right to that property. The mortgage company would be considered a lien holder- they have a claim against the property for as much as the unpaid amount of the loan. Lienholders will be listed on the deed to the property, which is recorded by the County Clerk or Recorder.


Can a judgment lien be placed on a property mortgaged by USDA-Rd?

A lien can be placed on any property, regardless of who holds the mortgage. In most cases the mortgage holder will be paid before a secondary lien holder.


Can a judgment be filed against a deed holder not included in a mortgage?

Yes. The lien would be against any interest they own in the property. If only one owner granted a mortgage the other owner still owns their interest free of the mortgage unless they acquired that interest after the mortgage was granted by the owner.


What must a mortgage holder do when the person with the mortgaged house dies without a will?

File a claim against the decedent's estate. If the mortgage was recorded in the land records it must be paid before the property can be sold.


If you're buying your home which is not in default but you file bankruptcy on all your other debt would you be allowed to keep making the payments and keep the property or do you have to claim it?

You may have to make reaffirmation to the mortgage holder.

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