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Is California a community property state How could you find out if your name is on a mortgage?
Wiki User
∙ 18y ago
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.
Wiki User
∙ 18y ago
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Can a second mortgage company buy the first mortgage and foreclose?
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..
Can a bank foreclose if you dont pay on a second mortgage?
Yes. The bank could foreclose and take possession of the property subject to the first mortgage.
Can you transfer a house that still has a mortgage to a trust?
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.
How can you find out what their california mortgage rate is?
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.
Are mortgage bonds secure bonds?
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.
Because of bad credit your name was not added to the mortgage title in California What would your interest be if your spouse should die?
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.
In California is it legal for a mortgage brokerage to own a property management company at the same time?
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.
Where can one find more information about mortgage in California?
Someone could find information about a mortgage in California through a bank.
How does my new husband add my name to his house?
He should consult with an attorney to have a new deed drafted that is appropriate for your jurisdiction and creates the tenancy you desire. He should take care to let the attorney know if there is a mortgage. Most mortgage documents have a due on transfer clause that could trigger a demand for payment if any changes are made to the ownership of the property.
What do you do when a person dies owing a mortgage and he conveyed the property before he died to someone who is not on the mortgage?
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.
Is it wise to purchase a home with a mortgage in California right now?
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.
Can a second mortgage company buy the first mortgage and foreclose?
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..
Can a judge force a joint owner to sign a quit claim deed if there is a mortgage on said property?
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.
How is a reverse mortgage satisfied?
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
Can a bank foreclose if you dont pay on a second mortgage?
Yes. The bank could foreclose and take possession of the property subject to the first mortgage.
If two individuals living in NY marry and then move to California which is a community property state can creditors go after the spouses for the amounts owed once in California?
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.
Can one spouse bump the other off title to real estate in California by a refinance loan in their name only?
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.
