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If you did not get your mortgage reaffirmed does this mean you will lose your property?
Wiki User
∙ 8y ago
From my understanding after filing Chapter 7, our house was not reaffirmed, but the mortgage company clearly states that as long as the payments are kept up they will not take action against the house and if they do, their interest is solely in the house, not contents.
Wiki User
∙ 8y ago
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How to determine mortgage encumberances for a property?
Can you give me some more details as to what exactly you mean, i.e. do you want to know how to find out if there is a mortgage on the property? Can you give me some more details as to what exactly you mean, i.e. do you want to know how to find out if there is a mortgage on the property?
Does a cosigner on a mortgage mean that person is an owner of the property?
Yes it does, Only after you refinance the property may you take the cosigners name of the mortgage loan.
What are the mortgage insurance requirements in Nebraska?
There are no "requirements" as in you are required to get it unless you mean Private Mortgage Insurance. 2 different things. I'll assume that you mean mortgage insurance since that is how your question is phrased. The requirement for mortgage insurance is set by the lender at the time you originate your loan. If it is required to get approval for your financing, then it is not optional. In the state of Nebraska you can ask that the MI be cancelled once you have paid your mortgage down to 80% based on the original value of the property or when you can show that the property has appreciated enough to show a current loan to value of 78% through appreciation.
What does taking out a second mortgage mean?
you have two options when you need to pull out money from your property. 1.) cash-out refi- where you pay off the current mortgage and take additional cash with it. 2.) leave the current mortgage alone and taking a second mortgage out for the cash. Second mortgage all so means it is in second place behind the first mortgage
What does mortgage mean?
A mortgage or mortgage loan uses real-estate or personal property as collateral to guarantee a repayment of a loan. A mortgage is a debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments. Mortgages are used by individuals and businesses to make large real estate purchases without paying the entire value of the purchase up front. Over a period of many years, the borrower repays the loan, plus interest, until he/she eventually owns the property free and clear. Mortgages are also known as "liens against property" or "claims on the property." If the borrower stops paying the mortgage, the bank can foreclose.
How to determine mortgage encumberances for a property?
Can you give me some more details as to what exactly you mean, i.e. do you want to know how to find out if there is a mortgage on the property? Can you give me some more details as to what exactly you mean, i.e. do you want to know how to find out if there is a mortgage on the property?
What does it mean that the mortgage company released the lien on your property?
It means that the lender recorded a notice in the land records that the mortgage has been paid. That notice releases the property from the mortgage lien.
Does a cosigner on a mortgage mean that person is an owner of the property?
Yes it does, Only after you refinance the property may you take the cosigners name of the mortgage loan.
If a seller indicates that the first mortgage is delivered free and clear what does this mean?
A free and clear property means that the mortgage was completely satisfied and there is no more lien on the property as far as the mortgage goes.
What does mortgage mean in a sentence?
A mortgage is a loan secured by real property. Sentence: My sister was able to qualify for a mortgage and purchase her first home.
Can you get a normal mortgage for investment in a UK property or is another mortgage type product available?
If by a normal mortgage you mean a residential mortgage then generally speaking, no - not for investment purposes. However it really depends on what you intend to do with the property, buy the property to rent out (buy to let), buy to renovate and sell (aka 'flip') or any number of other strategies.
Subject property what does it mean?
The "subject property" is the property referred to in a deed, mortgage, contract, title report, title certification, restriction, lease, etc.
How can you get rid of a second mortgage?
Pay it off. You aren't getting rid of it (or the first mortgage) and keep the property that is pledged as security if that's what you mean.
In simple terms what does it mean to receive a deed in lieu of foreclosure?
A deed in lieu of foreclosure refers to the process of handing over a property deed to the mortgage financier and no longer having to pay the mortgage. The property now belongs to the company who financed the mortgage.
What does it mean to be a title theory state in Michigan?
In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.
Are mortgages on investment properties discharged under a Chapter 13?
You will not end up owning the property without a mortgage...or not paying the mortgage in full if that's what you mean. The mortgagee will be allowed to foreclose and sell the property it is secured by to recover any loss.
What are the mortgage insurance requirements in Nebraska?
There are no "requirements" as in you are required to get it unless you mean Private Mortgage Insurance. 2 different things. I'll assume that you mean mortgage insurance since that is how your question is phrased. The requirement for mortgage insurance is set by the lender at the time you originate your loan. If it is required to get approval for your financing, then it is not optional. In the state of Nebraska you can ask that the MI be cancelled once you have paid your mortgage down to 80% based on the original value of the property or when you can show that the property has appreciated enough to show a current loan to value of 78% through appreciation.
