At a push you'll probably be able to borrow from one that specialises in bad credit mortgages, but this will cost you considerably more.
If your lender sold your home for less than you owed on your mortgage plus interest and sale fees you can expect it to come after you for the shortfall.
According to the law in England, Wales and Northern Ireland, lenders have up to 12 years to start chasing you for the outstanding amount.
But those that are members of trade body The Council of Mortgage Lenders adhere to a voluntary agreement to act within six years.
In Scotland, lenders must usually act within five years.
But no matter where you live in the UK, if it's thought fraud was involved, there's no time limit for beginning recovery action.
And, whether your financial difficulties were your own fault or not, once your former lender has begun the chase to recover its money, there is no limit on how long it can keep after you.
You still own the house if you have a reverse mortgage, yes.
Nothing happens to it. It still remains in second place.
Most likely not depending on what financial situation you're in.
it is quite unlikely that you will be able to get a mortgage lender with that history.
Of course! The money is still owed to the bank and you cannot legally sell it without satisfying the mortgage.
You still owe the money to the mortgage provider.
Yes. There are almost no obstacles if you still own and live in the house after.
You should get a quitclaim recorded by the ex-spouse if they are on the title. The mortgage in your name will still be payable. As far as I know, foreigners can have ownership in property in the US
Of course. Until you pay off the mortgage loan, you have to pay payments on the home.
Yes, but the mortgage will still have to be paid or the bank will take possession of the property by foreclosure.
Yes. For any amounts not recovered insluding repo costs.
You can be separated and still live in the same house. No one has to move.The mortgage payment is made by the person whos name is on the mortgage. If it is in both names you are both responsible.
Nothing happens, the lien still exists- and the 2nd lender can still foreclose if you stoip making payments. The bigger worry is why you would WANT to reaffirm a mortgage debt!
If a husband and wife buy a house together and the wife's name is not put on the deed until the second mortgage, yes, the deed is still shared after the second mortgage is paid off.
The short answer is, nothing good. As a co-signer, you are still responsible for making sure the mortgage payments are made in full on time. However, you should talk to the bank that holds the mortgage to see what you need to do, particularly if the title of the house doesn't come to you through the will or settling of the estate.
if the mortgage is in your name then keep paying it off. if the mortgage is in both names of you and your ex then contact the finantial institution for advise so you dont have trouble later down the track with your ex claiming half when the house is paid off.
Then you still owe money to the bank.
The joint person is still responsible until the loan is paid off or refinanced out of the person's joint name.
Whoever inherits the house would need to either pay off the mortgage or refinance the house to take ownership of the house. The debt is not paid--unless the deceased had mortgage insurance--and the lien is still due. Of course, the house could be put up for sale, but only if payments are current and not in foreclosure.
You are still likely to have a foreclosure problem, since the collateral is your house. You need to get more information about what can be done. These days, you may be able to refinance into one loan, even if you are underwater. At the new rate, you may be able to afford your payments.
Your mortgage should have been included in your chapter 7 discharge. If it was- then you are no longer liable for the mortgage, but the lender can still foreclose on the property. If the mortgage was not included- then why wasnt it included.
no do you still have the house?
If your still buying the house and you still owe the mortgage company then Yes. It is a part of your mortgage contract. Failure to comply with the terms of your mortgage contract will put you in default on your mortgage and subject you home to foreclosure. It has nothing to do with whether you filed a bankruptcy or not, it's a totally separate issue.