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If you are on Social Security Disability and defaulted on your home equity line of credit besides taking the property can the bank take all your other assets if it is not in the contract?
Sweetina
They may be able to access your bank account, so you need to check your contract and talk to the bank so you know where you stand.
Wiki User
∙ 15y ago
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IS SOCIAL SECURITY DISABILITY SEPARATE PROPERTY IN A DIVORCE IN TEXAS?
Social Security benefits for a disability are awarded to the individual. There are not real or personal property and are not subject to community property laws.
If property is deeded to person under age and the person deeding the property is receiving social security disability had inherited this property so now they have two properties?
If a person on social security disability inherited a property and then "deeded" it to a person who is underage there is one property. Why do you think there are two?
Who may Repossess on another persons property?
Whomever the lien holder has hired for that purpose. Providing you have defaulted on the payment terms of your contract.
If your tenant cuts there contract short do you give back the security deposit?
It depends on the reason why the contract was cut short. Was it the fault of the Landlord or the property. Or was it for no reason at all, just that they wanted to terminate the contract. If it was the fault of the landlord or the property, then the security deposit should be returned if no damage to the property was caused by the tenant. If it was terminated for no reason at all then it shouldn't be returned. And it probably depends on what the contract says, as well as laws in the area.
Can you face foreclosure due to a charge off?
No, a "charge off" is a term used by credit card companies and other unsecured creditors to indicate that the account has been defaulted and collection procedures will be implemented. A foreclosure is the act used by a mortgage lender to recover property when the mortgage contract has been defaulted upon.
What are common reasons or motives for lawsuits?
Personal injury, property damage, defaulted debts, breach of peace and harassment, violation of consumer laws (lemon law, usuary, UCC violations, breach of contract, etc.).
Can disabled veterans VA compensation or his social security disability insurance be divided in divorce?
VA disability compensation should NOT be included in the calculations as income for either spousal and child support. It is completely a separate property asset that is not divisible.
What is the breach of a contract mortgage by lender?
Your mortgage contract has a clause like this:23. Reconveyance: Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee. Trustee shall reconvey the Property without warranty to the person or persons legally entitled to it.When the mortgage originator sold your note did he do his duty and request the Trustee to reconvey the Property and surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee?I don't think so!This is a black and white breach of contract.
What law does a bank violate when they credit your payment but still take your property?
None. Once you have defaulted on the loan, the lender may take possession of the vehicle or property that secured the loan and apply it to the unpaid balance. It does not matter if you were only one day late, and you paid all but one dollar of the unpaid balance before the property was recovered. Once you are late on most loans, you have defaulted the contract and the lender may take whatever action they deem necessary to secure every cent of the unpaid balance.
Working security for condo property rent is paid by resident and management company re emburses security?
The contract will specifically state who is responsible to pay for security. Reimbursments among residents is not a matter the vendor should face.
How do you repossess a car from someone who defaulted on a promissory note in a private sale?
A private auto sale is considered a contract. As such, if the buyer isn't paying as agreed, he's in breach of ths contract and subject to civil remedy, such as a law suit. Unless specified in the contract or allowed by your local law, you can't take the property back. That places you in breach as well and could be considered auto theft.
What is the meaning of property loan?
A property loan in which property is used as security purpose, Where the borrowers enters into an contract with the loan company where in borrower receives cash upfront of then makes payment in a time period until he pays back the lender in full
