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What happens to mortgage when the only person on the title dies and is survived by a minor child in the state of Florida?
Wiki User
∙ 15y ago
The estate is responsible for clearing the mortgage. They will either pay it off, or more likely, sell the home, pay off the mortgage and put the remainder into trust for the use of the minor.
Wiki User
∙ 15y ago
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Who exactly survived the Titanic?
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In God We Trust is the Florida state motto. First person to answer this question
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If a person left a house in a will with a mortgage payment what happens with the mortgage?
The mortgage has to be resolved. Either it must be sold and the mortgage paid off, or the person inheriting obtains a replacement mortgage.
Where could a person get home equity mortgage loans in Florida?
There are many companies that offer home equity mortgage loans in Florida. Bank of America and Wells Fargo both offer this type of loans across the country, including Florida.
What happens to the joint mortgage holder of a take over mortgage if the original mortgage holder pays the loan?
The joint person is still responsible until the loan is paid off or refinanced out of the person's joint name.
What license is a Florida mortgage lender required to have?
To become a mortgage lender in the state of Florida you need to have a Principle Loan Originator. To acquire this a person is required to take part in a 20 hour course and to have a passing mark on the National NMLS Test and the Florida NMLS Test as well.
What happens to the car and title if primary person on car loan dies and the secondary person has survived?
The estate has to settle the title. The secondary person can be held responsible for the loan until it is resolved.
Can a home be foreclosed on when the mortgage is in a different name from What is on the deed?
Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.
Is there a person in real life who survived the titanic?
yes, the last person who survived died in 2009
Is a mortgage valid if not signed by all the title holders?
A mortgage is valid only against the interest of the person who granted the mortgage. If you own real estate with another person and they grant a mortgage then your interest isn't affected. If the lender forecloses it only acquires the interest of the one person who granted he mortgage.
What happens when a person with a Will dies and their property is subject to a mortgage?
The mortgage must be paid if the heirs wish to keep the real estate. The decedent conveyed an interest to the lender and if the mortgage isn't paid the lender can take possession of the property by foreclosure. You should discuss the situation with the attorney who handles the estate.
Why would a person need a second mortgage?
A person would need a second mortgage because it is a way to avoid mortgage insurance. They might also need a second mortgage if they need a lump sum of cash.
What happens to credit card debt when a person dies in Florida?
It becomes part of the probate procedure of the deceased's estate.
Where can a person refinance in the state of florida?
I would speak with someone at your local bank. You can also use a comparison website (like QuickenLoans) to compare the rates from various mortgage providers.
