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The mortgage is in your name only but the title is in you and your ex. What can you do if your ex is late on the mortgage payments?
Wiki User
∙ 14y ago
If your name is also on the legal title, you are equally as responsibly for making certain all payments are made on time. Doesn't matter whose name is on the payment coupons - that's just for mailing purposed most likely ... Best bet is to get her off the title, which usually happens only when one refinances the mortgage. That's the only way to change the original Deed of Trust.
AnswerIf you are the only one who signed the mortgage then a default will be reported on your credit record and your credit will be ruined. If you conveyed an interest in your property to your "ex" after you signed a mortgage, the ex has no legal obligation to pay but they own a half interest in the property. If you want to protect your credit and your property from foreclosure you must pay the mortgage.
You would need to get a quitclaim deed from your ex in order to restore the title to your name alone.
Wiki User
∙ 14y ago
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Are you obligated for the mortgage if your name is on the title?
You are obligated for paying the loan if you signed the mortgage. If your name was added to the title after the mortgage was granted then you received your interest subject to the mortgage. If it isn't paid the lender will take possession of the property by foreclosure. If your name was on the title prior to the mortgage and the lender didn't have you consent to the mortgage then the lender made a big mistake and can only take possession of the interest of the person who did sign the mortgage.You are obligated for paying the loan if you signed the mortgage. If your name was added to the title after the mortgage was granted then you received your interest subject to the mortgage. If it isn't paid the lender will take possession of the property by foreclosure. If your name was on the title prior to the mortgage and the lender didn't have you consent to the mortgage then the lender made a big mistake and can only take possession of the interest of the person who did sign the mortgage.You are obligated for paying the loan if you signed the mortgage. If your name was added to the title after the mortgage was granted then you received your interest subject to the mortgage. If it isn't paid the lender will take possession of the property by foreclosure. If your name was on the title prior to the mortgage and the lender didn't have you consent to the mortgage then the lender made a big mistake and can only take possession of the interest of the person who did sign the mortgage.You are obligated for paying the loan if you signed the mortgage. If your name was added to the title after the mortgage was granted then you received your interest subject to the mortgage. If it isn't paid the lender will take possession of the property by foreclosure. If your name was on the title prior to the mortgage and the lender didn't have you consent to the mortgage then the lender made a big mistake and can only take possession of the interest of the person who did sign the mortgage.
How do you get your name on husbands mortgage?
You have to apply for a mortgage jointly for both people to be listed on a mortgage. You can however have your name added to a title of a house with simple paperwork.
How do you complete a hardship letter for your mortgage payment being late?
You first need to include your name and account number. You also should state why you are having a hardship and when you payments will begin again.
If her name is on the mortgage but makes no payments can I change the locks?
If her name is on the deed you cannot change the locks. If her name is only on the mortgage you should consult with an attorney before locking her out.
If you are moving into your partner's house how do you put your name on the mortgage?
Unless your partner adds your name to the title and then refinances, there is no way for you to get on the mortgage.
House in wifes name leaves husband who pays for house?
The answer is who is on the mortgage or deed of trust contract not who has title to the property. All parties on the mortgage are equally obligated for the mortgage payments irrespective whether or not they are in title to the property. A mortgage or deed of trust is a contract and the parties thereto are bound by the terms of the contract.Another PerspectiveIn addition, The lender will foreclose if the mortgage isn't paid. You have not stated who signed the mortgage and that is important to your question. If the husband is paying the mortgage and is not on the title he is paying for property he doesn't own. If he signed the mortgage then his credit record is at risk if the mortgage isn't paid. This matter will need to be addressed at some point by a court, perhaps divorce court, since the owner has abandoned the premises. You need to consult with an attorney.
Why are you being foreclosed on if your name is not on mortgage?
If your name was ever added to the title after the mortgage was granted then you will be named in the foreclosure to fulfill the obligation to give notice to all interested parties.If your name was ever added to the title after the mortgage was granted then you will be named in the foreclosure to fulfill the obligation to give notice to all interested parties.If your name was ever added to the title after the mortgage was granted then you will be named in the foreclosure to fulfill the obligation to give notice to all interested parties.If your name was ever added to the title after the mortgage was granted then you will be named in the foreclosure to fulfill the obligation to give notice to all interested parties.
Your daughter and you are on the title of her townhouse but only her name is on the mortgage and she is now behind on her mortgage payments taxes and assesments am I liable and should i quit claim?
If you Quit claim it to her you loose all rights to the asset. If they Foreclose due to non payment she will loose the asset. If they sale it for less than the mortgage you both could be liable for the difference in a suit.
Does paying off another person mortgage payments help your credit?
No. Not if your name isn't on the loan.
Is there a book on mortgage amortization?
Yes, there is a paperback book on mortgage amortization at Amazon.com The name of the paperback book is called "The Mortgage Payment Handbook". The guide will help a person determine a monthly loan, and mortgage payments.
If our mom is deceased and she had a home in her name but a second mortgage on it and no will is it mine and my other siblings right to continue paying on the loan and then assume title of the estate?
You need to probate your mother's estate in order to pass title to the real estate to her children. The bank should be notified of her death and should also be willing to allow you to assume the mortgage payments. If the terms of the mortgage are reasonable then try to negotiate an assumption of the existing mortgage rather than a refinance. You should seek the advice of an attorney.
What is meant with mortgage affordability calculator in finances?
A mortgage affordability calculator is just another name for a mortgage calculator that can help you estimate your monthly payments and the amount of interest paid in a certain month.
