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What does it mean when a bank has written off your second mortgage?
Wiki User
∙ 17y ago
It means you haven't paid them in so long that they've given up on collecting. Most companies sell their written off debts to collection agencies so you can expect to get annoying calls from a collection agency in the near future. If you owed enough on the 2nd mortgage the bank may also attempt to foreclose on your home. you should contact the lender and try to bring your 2nd mortgage current before that happens.
Wiki User
∙ 17y ago
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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 do foreclosed mean?
The action taken by a bank or loan company to call in a loan or mortgage.
Can a mortgage bank or company cancel your homeowners insurance with a private company?
What do you mean "private company" If you have HO insurance the bank can not canel it. Only you can.
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.
What does mortgage home improvement mean?
It means that you take out a second mortgage to help make home improvements on your house. This often raises the value of your house if you are selling it.
What does it mean in a deed that states 'title to the property should not be a merged with the lien of the aforesaid mortgage and this conveyance should not be so construed'?
Some form of that phrasing is used in deeds in lieu of foreclosure and deeds from a mortgagor to the bank (to avoid foreclosure) in order for the bank to be able to preservethe outstanding mortgage debt.Without that language the mortgage obligation would be extinguished when the bank takes title to the premises.
What is a second trust deed taken back by owner mean?
That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.
What does it mean to sign off on Dower Interest?
I signed a dower interest in taking a second mortgage on my home, though I am not on the loan papers or my mortgage deed, Am I responsible and in what way
Does satisfaction of mortgage mean clear deed?
Yes. The discharge must be from the correct party (the bank who is the present owner of record of the mortgage) and must be recorded in the land records. It must state that the mortgage has been satisfied or some other language to that effect.
If your mortgage has a two year clause does this mean you have to wait until then to refinance?
If I understand your situation, you mean your mortgage has a two year clause in the sense that it can't be discharged or "forgiven" in that time frame? If I were you, I would call a customer service representative with the bank that's holding this mortgage and ask them. It's hard to answer this question without looking at the particulars of your mortgage. Good luck.
How risky is taking a lien on your house?
Please clarify your question. Do you mean taking out a second mortgage or equity line?
What does the term 'adelaidebank' mean?
The term "adelaidebank" is the name of a bank: Adelaide Bank. They offer the following services: Mortgages, investment loans, refinancing, mortgage management, Home lend, commercial loan.
