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You can't "walk away" without losing the equity, if any, in your property. Your credit rating would also be seriously affected.
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∙ 7y ago
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What services are available to help determine if one should simply walk away from a home mortgage?
One should contact the bank or mortgage company where one obtained the mortgage. This institution can provide all of the information needed to determine if one should simply walk away from a home mortgage.
What happens to a mortgage after a bankruptcy?
What happens to a mortgage after bankruptcy depends on whether or not the debt is reaffirmed. If the mortgage is reaffirmed the homeowner continues to pay it as if the bankruptcy had not been filed, since the debt has not been discharged. If the debt is not reaffirmed, what happens to the mortgage depends on the policies of the individual lender.
Can you get a joint mortgage with your grandparent and what happens if she dies can i keep the house and mortgage?
The type of deed will determine what happens to the property after her death. If there is a right of survivorship, you will get the house. The mortgage company determines whether you keep the mortgage or have to refinance.
What happens if I don't pay my mortgage?
Unfortunately, foreclosure happens.
What happens if you cant pay your dutch mortgage?
what happens if you become unemplyed and wish to reduce your mortgage payments are there any options in holland
What services are available to help determine if one should simply walk away from a home mortgage?
One should contact the bank or mortgage company where one obtained the mortgage. This institution can provide all of the information needed to determine if one should simply walk away from a home mortgage.
Can you walk away from mortgage if husband not paying mortgage and you are separated?
You cannot "walk away" if you also signed the note and mortgage. In that case you must pay even if your husband doesn't. If the mortgage isn't paid, the property will be taken by foreclosure and your credit will be ruined. You should consult with an attorney who can review your situation and explain your options.
Are you able to still leave a mortgage in Minnesota after BK and not be liable?
Yes, you can walk away from a mortgage and not be liable for a deficiency (even in recourse states) if the mortgage was listed in the bankruptcy.
What happens if hazards are not eliminated or reduced?
you walk away
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/
If mortgage note is in the name of a deceased spouse but your name is on the deed will your credit be affected if you chose to walk away from the home?
If you are only on the title, then your credit will not be affected.
What happens to the second mortgage if the first mortgage is sold?
Nothing happens to it. It still remains in second place.
What happens if a rock fails of the cliff?
you get up, and walk away and look around and see if anyone saw you
What happens to a mortgage after a bankruptcy?
What happens to a mortgage after bankruptcy depends on whether or not the debt is reaffirmed. If the mortgage is reaffirmed the homeowner continues to pay it as if the bankruptcy had not been filed, since the debt has not been discharged. If the debt is not reaffirmed, what happens to the mortgage depends on the policies of the individual lender.
Can you get a joint mortgage with your grandparent and what happens if she dies can i keep the house and mortgage?
The type of deed will determine what happens to the property after her death. If there is a right of survivorship, you will get the house. The mortgage company determines whether you keep the mortgage or have to refinance.
What are steps to acquire a subprime mortgage?
When you are applying for a mortgage ask your lender about how to acquire a subprime mortgage. They will walk your through it and advise as to if this is the best option for you.
What happens if payoff 1st mortgage and keep 2nd?
You will then have one mortgage and not two.
