A property cannot be mortgaged twice at once. Additionally, you must hold the title to the property to place it under mortgage. Unless the other mortgage is paid off and your parents give you the house, you will not be able to get a mortgage on it.
Whoever granted the mortgage to the bank must have owned the property at that time. If they later conveyed the property to a new owner they breached their mortgage agreement with the bank and the new owner took the property subject to the mortgage. The bank can take possession of the property if the mortgage isn't paid.
It sounds as though you sold land and took back a mortgage. If so, you can foreclose on the mortgage and take possession of the property if you reserved that right in the mortgage. You should consult with an attorney in your area since state laws on this issue vary.
Sorry, but the property belongs to the estate. They can charge rent. Hopefully you will inherit the property, or most of the value of it when the estate is settled.
If two people were on title and one of them took out another mortgage on the property then the title company is at falt. In this case you have to talk to the title company and perhapes a real estate attorney.
Answer: If Mary owns the property and the lender took a mortgage from Lucy then the bank can't foreclose on the property. Lucy had no interest to convey to the lender. (The lender didn't perform a title examination.) Did Lucy have Power of Attorney for Mary?
Each person who co-signs a mortgage is equally responsible for paying the mortgage. If your mother has died then her estate must be probated. The debts of the decedent must be paid before any property can be distributed to the heirs. You need to consult with an attorney who specializes in probate in your area who could review your situation and determine what the obligations are regarding the mortgage.
20 year it depend of how much money you took for that mortgage
Sorry, you can't force somebody to take on a debt for you. The person that inherits the property also inherits the mortgage and any liens on it. What you might want to do is buy a life insurance policy on the mortgage that pays it off if something happens to you.
Who took over Beneficial home loans
If you wish to refinance your mortgage you are best to go to the bank you took out the mortgage with. They will be able to help you and are more than likely to refinance your mortgage for you.
It is very difficult to secure a mortgage if you have little or no credit. Mortgage lenders have become more picky about who they will lend money to after the huge issue took place with forclosures.
Yes. The first lien is called the first mortgage, and the second lien is called the second mortgage. If you default on both and the property is sold at auction, the first lien holder gets paid first. If money is left over, the second lien holder gets paid. If money is still left over, you should get it even though you defaulted. Some commercial properties have 5 or 6 liens. On one the last lien holder did not get paid and took over the property. He had to pay the rest to keep from loosing the property.
Bank of America too over payments from Countrywide after the mortgage fraud by Countrywide. The mortgage settlement should send billions of dollars to struggling homeowners.
No, but you do hae insurace on your property, its put in place as soon as you buy the home, the mortgage is a fraud, the bank ur lawyer your clean title and the lawyer snuck behind your back and took a loan placed it back and called it a mortage, your NEGOTABLE INSTRUMENT PAID FOR YOUR HOUSE. ask the title company for your clean title
12 months in a year. 12 X 30 = 360 payments.
From beginning to end mine took two weeks. But I'm sure it varies widely depending on the needs of the individual and the mortgage company
You should notify the bank immediately that your name was forged on the loan documents. If the loan included a mortgage then the bank is out of luck if it cannot prove you signed it unless your state laws allow one spouse to mortgage their interest in the property. In that case, the bank would only have a mortgage on a one-half interest. You should seek the advice of an attorney.
The Germans took it.
I need to know why my payments went up after I found out bank of America took over my previous mortage company?
WWII Generals took over, and Vietnam escalated into conventional warfare.
if u are small then it is legal