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If your account is still in Escrow, your account will be closed "Purchasers default" which basically means they cant touch your credit because they didnt get a chance to deed it.

If you were Deeded, you should send a letter telling them to cease and desist. Also ask in the letter for a WDIL. That will stop calls plus will have them send you a deed to sign timeshare back to them instead of foreclosure. Its costs them more money to foreclose then it does for them to take it back.

Even if they say no, ask again. Or just wait. They will offer it to you.

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โˆ™ 2011-01-04 23:08:08
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Q: What happens if you stop paying the mortgage?
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Related questions

IS THERE ANY GRANTS FOR PAYING YOUR MORTGAGE?

HELP MFORM PAYING YOUR MORTGAGE


How can a second mortgage loan be discharged?

Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.


How do you stop your escrow?

You can stop your escrow buy paying off your mortgage and satisfying all the requirements of your mortgage. Lenders set up an escrow account so that they can pay the real estate taxes and homeowners insurance.


What happens when a coborrower stops paying their portion of mortgage?

The other co-signer is responsible for paying the mortgage. If the mortgage goes into default both credit records will be ruined. Both signers are equally responsible for full payment. If one doesn't pay the other must or the bank will foreclose.


What happens if you stop paying your car loan?

Repo.......homo


What happens when you stop paying on a vacation points loan?

Forclosure.


What happens if the partner on the mortgage loan moves out nd stops paying?

The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.


What happens if you stop paying fees on a timeshare you don't use that has no mortgage?

THEY USUALLY CUT-OFF THE UTILITIES> You can get sued for doing so. Meanwhile, all the consequences of your actions are written on the agreement.


My husband cosigned for my 2nd mortgage and he is not on the first mortgage. if we have the same lender for both mortgages and we quit paying on the first mortgage how fast will his credit be impacted?

Since he is not listed as a borrower on the first mortgage his credit is not affected by paying or not paying that mortgage. Even if both loans are with the same company, he is only held responsible for the loan in which he signed.


Who pays the mortgage on deceased parent's home?

Unless there was some sort of mortgage insurance, the estate is responsible for paying the mortgage. If the mortgage isn't paid the lender will take possession by foreclosure. If the heirs want to keep the property they must keep paying the mortgage.


If your home owners insurance is part of your mortgage payment and you stop paying your mortgage what happens to your insurance coverage?

Once you have defaulted on your mortgage or have gone into foreclosure all your rights on the homeowners policy are null and void. all rights of recovery revert to the Mortgage company. Basically you become uninsured and the mortgage company remains insured through the policy term. Also if the policy gets cancelled due to the foreclosure any refunds belong to the mortgage company.


What if you stop paying your mortgage?

You will lose your house. The time period is variable and the exact conditions are somewhat negotiable, but the end result is foreclosure.


What happens if the government stop paying childcare?

this will be the cause of the hunger games, but with adults.


On animal crossing what happens after you pay off your loan completely?

Nook gives you a flag pole. And you don't have to worry about paying your mortgage


Can a house be foreclosed on if you have only signed a costruction loan but no final loan aggrement?

The answer is Yes, the construction loan is considered a regular mortgage. So if you stop paying the mortgage, it will forclose and show on your credit report.


Can foreclosure be circumvented?

NO. When the mortgagor executed the mortgage they granted the lender the power to take possession of the property in the case of a default. You cannot "circumvent" that provision. You may be able to stop the foreclosure by paying what you owe.NO. When the mortgagor executed the mortgage they granted the lender the power to take possession of the property in the case of a default. You cannot "circumvent" that provision. You may be able to stop the foreclosure by paying what you owe.NO. When the mortgagor executed the mortgage they granted the lender the power to take possession of the property in the case of a default. You cannot "circumvent" that provision. You may be able to stop the foreclosure by paying what you owe.NO. When the mortgagor executed the mortgage they granted the lender the power to take possession of the property in the case of a default. You cannot "circumvent" that provision. You may be able to stop the foreclosure by paying what you owe.


Can you take your partners name of a joint mortgage if they are not paying their half of the mortgage as per agreement?

no


What will happen if you stop paying on a timeshare that has a mortgage?

Failure to pay the mortgage on a time share property will result in the lending institution seeking a foreclosure on the timeshare; the lender will then own the timeshare and be able to sell it on to someone else.


Does wife's co signing a mortbage make her a joint owner?

No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.


How much will your credit scores increase after paying off a mortgage?

Your credit score will decrease after paying off your mortgage if everything else remains the same. Our credit score has been decreasing since paying off our mortgage 5 years ago. The suggestions for increasing our credit score were to take out a mortgage or take out a car loan.


Can you stop paying child support if your child graduated at seventeen?

no you can not stop paying you stop paying when the child turns 18.


What happens when a co signer dies and you stop paying on car loan?

bank takes back


Your name is on the mortgage not on the deed. How do you get it off the mortgage?

Only by refinancing, paying off the mortgage, with consent of the mortgagee or by court order that is binding on the lender.


What happens to a mortgage balance when the mortgage holders dies?

The estate is responsible to pay off the mortgage. Usually this is done by selling the mortgaged property, paying off the mortgage holder and then putting the balance into the estate. The balance will be used to pay off other debts, if any, and then be distributed according to the will, or if there isn't a will, according to the laws of the state.


If a bank that holds your mortgage fails what happens to that mortgage?

See http://www.fivecentnickel.com/2008/09/22/what-happens-to-your-mortgage-if-your-bank-fails/