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Is California a community property state How could you find out if your name is on a mortgage?

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2005-09-27 01:54:45
2005-09-27 01:54:45

California is a community property state. If you are on a mortgage or loan agreement, you would have had to have signed the papers in the presence of the lender or an agent for it to be legal. You could contact the mortgage lender assuming you have that information, or get a copy of your credit report.

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Because of California being a community property state, the non-titled spouse would still be entitled to one-half of the property. The other half could be willed to the surviving spouse.

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yes...mortgage brokers have to have a Real Estate license. So does someone in a property management company. You could do all three at once if you wanted to.

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Someone could find information about a mortgage in California through a bank.

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Yes, but only if you have defaulted on the mortgage. When you granted the mortgage you gave the lender an interest in the property that it could foreclose if you do not keep up payments on the mortgage. The lender can sell the property to recover the debt. If your name went on a deed after the mortgage was granted, and the mortgage was granted by the owner of the property at the time of the mortgage, the bank has a superior claim and can take the property if the mortgage isn't paid.

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He deeds to you an undivided 1/2 in the house. Or, if in a community property state, you could sign a Community Property Agreement.

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The property is still subject to the mortgage. The grantee should make arrangements with the bank to assume the mortgage. Some mortgage documents contain language that a transfer of the property will trigger a demand that the mortgage be paid in full. You should speak to the bank ASAP. Or, the grantee could just keep paying the mortgage.

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Yes, a financial company can purchase the lien on your mortgage and then foreclose on your property if you have not made sufficient payments.The second mortgagee can also foreclose on the second mortgage and take possession of the property subject to the first mortgage. In that case, the lender would have to pay off the first mortgage before it could keep any proceeds from a sale of the property..

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If you have the money to spend and the time to wait it's always wise to buy property. If you can get a decent house or property at a steal, why not? You could renovate, rent it out and make money off of it.

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You have not provided enough detail. However, a judge can rule that a party shall lose their interest in the property. The outstanding mortgage must be addressed at the same time. The judge could rule the recipient of the property will be responsible for paying the mortgage. However, that could create a difficult situation if there is a default on the mortgage since the lender is not subject to the court order unless it was a party to the lawsuit.You have not provided enough detail. However, a judge can rule that a party shall lose their interest in the property. The outstanding mortgage must be addressed at the same time. The judge could rule the recipient of the property will be responsible for paying the mortgage. However, that could create a difficult situation if there is a default on the mortgage since the lender is not subject to the court order unless it was a party to the lawsuit.You have not provided enough detail. However, a judge can rule that a party shall lose their interest in the property. The outstanding mortgage must be addressed at the same time. The judge could rule the recipient of the property will be responsible for paying the mortgage. However, that could create a difficult situation if there is a default on the mortgage since the lender is not subject to the court order unless it was a party to the lawsuit.You have not provided enough detail. However, a judge can rule that a party shall lose their interest in the property. The outstanding mortgage must be addressed at the same time. The judge could rule the recipient of the property will be responsible for paying the mortgage. However, that could create a difficult situation if there is a default on the mortgage since the lender is not subject to the court order unless it was a party to the lawsuit.

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If the property was in both your names when your husband signed a mortgage then the bank acquired only his interest, not yours. If he died the bank could foreclose on his half interest only if the mortgage isn't paid. However, if the property was in your husband's name alone when he mortgaged the property and was later transferred to both your names, the bank could foreclose and take possession of the property if the mortgage isn't paid. Neither case would be affected by your husband's death. If he dies the property is still subject to the mortgage in either case.

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Yes. The bank could foreclose and take possession of the property subject to the first mortgage.

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You should be very careful about transferring property that is subject to a mortgage. Mortgage contracts contain a provision whereby the lender can demand payment in full upon any transfer in interest. Transferring your property to a trust would trigger that clause and the bank could demand that you pay off your mortgage immediately. You should consult with your attorney before making such a transfer.Generally banks do not approve mortgages for property owned by an individual trust. Also, when you transfer a property that has an outstanding mortgage the property remains subject to the mortgage.

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When the person making the mortgage dies, the property goes to the lender. Alternatively, you could pay off the amount loaned (plus fees) under the mortgage and get the property back. Hope that helps!Check here for more details:http://www.talkrefinance.com/explain-reverse-mortgage

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No, of course not. They can only mortgage their own interest in the property and any legitimate, professional lender will require that both owners sign the mortgage so that in the case of a default it can take possession of the property by foreclosure. If only one owner executed a mortgage the lender could not take possession of the property if that borrower defaulted.Your title to the real estate can only be transferred by your signing a deed transferring your interest or by signing a note and mortgage transferring your interest to a bank.No, of course not. They can only mortgage their own interest in the property and any legitimate, professional lender will require that both owners sign the mortgage so that in the case of a default it can take possession of the property by foreclosure. If only one owner executed a mortgage the lender could not take possession of the property if that borrower defaulted.Your title to the real estate can only be transferred by your signing a deed transferring your interest or by signing a note and mortgage transferring your interest to a bank.No, of course not. They can only mortgage their own interest in the property and any legitimate, professional lender will require that both owners sign the mortgage so that in the case of a default it can take possession of the property by foreclosure. If only one owner executed a mortgage the lender could not take possession of the property if that borrower defaulted.Your title to the real estate can only be transferred by your signing a deed transferring your interest or by signing a note and mortgage transferring your interest to a bank.No, of course not. They can only mortgage their own interest in the property and any legitimate, professional lender will require that both owners sign the mortgage so that in the case of a default it can take possession of the property by foreclosure. If only one owner executed a mortgage the lender could not take possession of the property if that borrower defaulted.Your title to the real estate can only be transferred by your signing a deed transferring your interest or by signing a note and mortgage transferring your interest to a bank.

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If your mortgage is through a bank, call them. If it's through a mortgage company then they could tell you anything you needed to know. Just give them a call.

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A mortgage bond is a bond secured by a mortgage on one or more assets and are typically backed by real estate holdings. In a default situation, mortgage bondholders have a claim to the underlying property and could sell it off to compensate for the default. However, the value of the property may decline.

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You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.

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No, but you could lose the property if the lender forecloses.

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Generally, if your father owns real property and grants a mortgage while he is living there is no way you can "protect yourself from the mortgage debt" if he should die and you are his beneficiary. You could ask your father to purchase private mortgage insurance that would pay off the mortgage in the case of his death. However, if he does not then you have to decide if you want the property or not in the case of his death. If you don't pay the mortgage the lender will take possession by foreclosure. If you want to keep the property you'll need to pay the mortgage.

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You don't HAVE to cover your property with homeowners insurance once your home has not mortgage but you could lose everything if you had a fire or if someone was injured on your property. Some HOA's require some type of insurance on every property regardless of mortgage. Its not a wise decision to drop coverage.

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If they owned the property as joint tenants with the right of survivorship then her interest would pass to your brother when she died. He would own it all. If they owned as tenants in common then her interest would pass according to her will or to her heirs at law if she died intestate. You and your brother would share her half-interest. If your mother executed the mortgage PRIOR to executing a deed that conveyed the property to herself and your brother then the bank could take possession of the property through foreclosure if the mortgage is not paid. If your mother executed a mortgage AFTER she conveyed the property to herself and your brother the property would be subject to the mortgage and the bank could foreclose on your mother's half interest if the mortgage isn't paid.

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Yes, If the debts were incurred outside a community property state during marriage, the collection can be enforced. All it takes is the signature of one of the spouses to 'bind the community'. Where the marriage occurred is not relevant, all states recognize legal marriages performed in other states. However, if the debt(s) belong to only one of the couple before the marriage then the community property laws would apply only to debts and/or property incurred in CA. There could be grounds for appeal regarding the enforcement of community property laws under these conditions.

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First, you consult with an attorney who specializes in divorce in your area. You could convey all your rights in the property by deed to your husband. However, if the property is subject to a mortgage that you signed, that mortgage must be paid off and refinanced in your husband's sole name. You should not act without legal advice.First, you consult with an attorney who specializes in divorce in your area. You could convey all your rights in the property by deed to your husband. However, if the property is subject to a mortgage that you signed, that mortgage must be paid off and refinanced in your husband's sole name. You should not act without legal advice.First, you consult with an attorney who specializes in divorce in your area. You could convey all your rights in the property by deed to your husband. However, if the property is subject to a mortgage that you signed, that mortgage must be paid off and refinanced in your husband's sole name. You should not act without legal advice.First, you consult with an attorney who specializes in divorce in your area. You could convey all your rights in the property by deed to your husband. However, if the property is subject to a mortgage that you signed, that mortgage must be paid off and refinanced in your husband's sole name. You should not act without legal advice.

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If you own an interest in the property and didn't sign the mortgage then your interest isn't covered by the mortgage. Assuming only the co-owner signed a mortgage, in the case of a default the bank could only foreclose on their interest, not yours.

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The buyers attorney would arrange to have the title examined, find the outstanding mortgage in the land records and require that it be paid from the proceeds of the sale. Your lender has the right to demand payment in full upon any transfer of the property. You could owner-finance the property but your mortgage must be paid off at the time of the sale.


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