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If you are on a promissary note but not on the deed do you sign the mortgage?
Wiki User
∙ 14y ago
If you are not on the deed then you don't own the property. If you don't own the property then you should not promise to pay the mortgage. A co-signer on a mortgage and promissory note is completely responsible for paying the mortgage. If the primary mortgagor (who in this case is the owner of the property) defaults on the mortgage the lender will go after the co-signer of the note for payment. A default will ruin your credit. If someone has asked you to sign their note and mortgage then you should require they execute a new deed with you as the co-owner of the property.
Wiki User
∙ 14y ago
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If you are married and refinance a primary residence in Florida does your wife have to go on the mortgage?
Yes. Your wife will have to sign the Mortgage. She will be on the Deed, the Title and the Mortgage. You however, if you are the only one that is borrowering the funds, will be the only on the Promissary Note.
Can you refinance a mortgage in California with only one owner on the new mortgage if it is a legal same-sex marriage so both would now be legally owners?
The following is general information only. It depends on who is listed as a grantee on the deed. If the property was acquired by only one then they must sign the note and mortgage. California is a community property state so it is likely in that case that the lender would require that the other spouse sign their consent to the mortgage so it can take possession of the property in the case of a default.If both are on the deed then both must sign the note and mortgage.The following is general information only. It depends on who is listed as a grantee on the deed. If the property was acquired by only one then they must sign the note and mortgage. California is a community property state so it is likely in that case that the lender would require that the other spouse sign their consent to the mortgage so it can take possession of the property in the case of a default.If both are on the deed then both must sign the note and mortgage.The following is general information only. It depends on who is listed as a grantee on the deed. If the property was acquired by only one then they must sign the note and mortgage. California is a community property state so it is likely in that case that the lender would require that the other spouse sign their consent to the mortgage so it can take possession of the property in the case of a default.If both are on the deed then both must sign the note and mortgage.The following is general information only. It depends on who is listed as a grantee on the deed. If the property was acquired by only one then they must sign the note and mortgage. California is a community property state so it is likely in that case that the lender would require that the other spouse sign their consent to the mortgage so it can take possession of the property in the case of a default.If both are on the deed then both must sign the note and mortgage.
Can an attorney a deed?
Can an attorney sign a mortgage deed/legal charge?
Do you have to be on the deed to sign a mortgage married nj?
You should always be on the deed if you are going to sign the mortgage. Otherwise you are promising to pay for property you do not own. If the other party leaves you will have to pay the mortgage.You should always be on the deed if you are going to sign the mortgage. Otherwise you are promising to pay for property you do not own. If the other party leaves you will have to pay the mortgage.You should always be on the deed if you are going to sign the mortgage. Otherwise you are promising to pay for property you do not own. If the other party leaves you will have to pay the mortgage.You should always be on the deed if you are going to sign the mortgage. Otherwise you are promising to pay for property you do not own. If the other party leaves you will have to pay the mortgage.
Do all parties on a promissory not have to sign to be inforceable?
A promissary note is a legal document stating the intent to pay. This is typically used in car purchases when the purchaser is going to bring a downpayment in at a later date. A promissary note does not have to be signed by both parties to be inforceable.
When a spouse is borrowing money and the wife must sign the mortgage does her name have to be on the warranty deed?
Of course. She should be fully informed of the consequences of signing the mortgage and not being on the deed. If the wife signs the purchase money mortgage then her name should also be on the deed. She should not sign to be responsible for a debt for property she doesn't own.Of course. She should be fully informed of the consequences of signing the mortgage and not being on the deed. If the wife signs the purchase money mortgage then her name should also be on the deed. She should not sign to be responsible for a debt for property she doesn't own.Of course. She should be fully informed of the consequences of signing the mortgage and not being on the deed. If the wife signs the purchase money mortgage then her name should also be on the deed. She should not sign to be responsible for a debt for property she doesn't own.Of course. She should be fully informed of the consequences of signing the mortgage and not being on the deed. If the wife signs the purchase money mortgage then her name should also be on the deed. She should not sign to be responsible for a debt for property she doesn't own.
When refinancing mortgage do both spouses have to be on mortgage in TN?
If both are on the deed then both must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.If both are on the deed then both must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.If both are on the deed then both must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.If both are on the deed then both must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.
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.
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.
Does the Deed holder on a home have full ownership even if their name is not on the mortgage?
The grantee in the deed is the owner of the property. A person who does not own the property can agree to sign the mortgage and be responsible for paying for the property. That does not give them an ownership interest.The grantee in the deed is the owner of the property. A person who does not own the property can agree to sign the mortgage and be responsible for paying for the property. That does not give them an ownership interest.The grantee in the deed is the owner of the property. A person who does not own the property can agree to sign the mortgage and be responsible for paying for the property. That does not give them an ownership interest.The grantee in the deed is the owner of the property. A person who does not own the property can agree to sign the mortgage and be responsible for paying for the property. That does not give them an ownership interest.
Can you take out a home equity loan on a house if you are not on the first mortgage but are on the deed with your parents?
Yes but your parents being on the deed will have to also sign.
Where does the borrower authorize the lender to foreclose?
The homeowners and lender sign a note and a Mortgage or Deed of Trust to create a security interest in the real estate. The right to foreclose in the case of a default is set forth in the mortgage clause entitled "Power of Sale".
