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The bank may take the house (you should check with a lawyer in your area, most don't mind giving free advice, but won't help you or do anything until you pay them) and sell it, if there is money leftover, the children will likely get equal shares.

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โˆ™ 2006-02-28 06:08:20
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Q: What happens to the mortgage if a divorced person dies without a will and has more than one child?
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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.


What happens when a person with a mortgaged house dies without a will?

The laws of intestacy for the jurisdiction will be applied. In most cases that will mean selling the property and resolving the mortgage.


What happens to your mortgage when you die?

Generally:The person receiving the property can sell the property and pay off the mortgage from the proceeds.The mortgage can be assumed, or refinanced in the heirs name with the original mortgage paid off.The heir can allow the bank to take the property.


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.


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.


Can you get a second mortgage with only one signer?

You need to go and see a mortgage broker. However if there is already a mortgage on the house with two signatories, it is unlikely that you will be able to get a second mortgage without the agreement of the second signatory as it will affect their primary mortgage. It will also depend on the property deed. If the land is titled to a single person, that person can obtain a mortgage. Note that a spouse is considered to be on the title even if it isn't printed there in most jurisdictions.


What if both husband an wife are on the title but not the mortgage and they get divorced?

The person who is on the mortgage is legally responsible for paying the debt. If the debt is not paid the bank will take possession of the property. The division of the property will be addressed through negotiation by the attorneys representing the parties or by a judicial order.


What paper work do you do when a person wants to have another person take over payments on her house and transfer the title until its paid for?

You will need to make contact with the mortgage holder (people that loaned money to buy the house) and get their approval. Until the loan is paid off, the mortgage agreement is between the homeowner and the mortgage holder. That agreement cannot be changed without their approval, or a court order (such as bankruptcy) or the death of the borrower. In effect, you would transferring your mortgage to the other person- and that person might not be acceptable to the mortgage company.


What churches will remarry a divorced person?

none, if you are divorced, you have been tainted in this world and the only salvation for you can be found in the next. praised be the lord that we have been, as without the lord we would be not.


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 must a mortgage holder do when the person with the mortgaged house dies without a will?

File a claim against the decedent's estate. If the mortgage was recorded in the land records it must be paid before the property can be sold.


In Michigan how do I learn if someone is divorced without paying a fee?

Search court records via the internet or in person.


Can a person file child support without a custody hearing or before getting divorced?

yes see link


Can a not yet divorced person have a wedding ceremony without legal marriage?

Can a not yet divoreced person have a wedding ceramony in Illinois pending an annulment of a marrige


What happens to mortgage when the only person on the title dies and is survived by a minor child in the state of Florida?

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.


One person is on the deed and two people signed the note . Can the person on the deed sell the property without permission satisfy the mortgage and collect the proceeds?

Yes. A person who does not own the property but signs the note is simply a volunteer. They have volunteered to pay the mortgage if the primary borrower (the owner of the property) defaults. Signing a mortgage for property you don't own is a very bad decision.


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 is a mortgage underwriter-?

A mortgage underwriter is the person that approves or denies the mortgage loan based on credit, capacity, and collateral.


What is the meaning of mortgage foreclosure?

Mortgage foreclosure is a process by which a person, who has a mortgage on land, legally sells that same land. A mortgage can be defined as a property loan.


Can somebody other than the homeowner live with you if you have a reverse mortgage?

Another person is allowed to live with you even though you have reverse mortgage. You can have the other person help pay the mortgage.


If a person on b-2 tourist visit marry's a man she knows is legally separated but is not divorced what happens?

If he was not divorced, then he is a bigamist and can end up in jail. The marriage would be annulled and declared void.


How soon can you have a person removed from the deed to your home?

If the person holds a mortgage or note you are paying on you can have him removed as soon as he or she is paid off. If it is just another person who is on title, never without a court order.


Every person should refinance their mortgage after five years.?

Every person should refinance their mortgage after five years.


How does a person get a second mortgage on there home and not know it?

Maybe signing papers without reading them.Umm... Can I have your autograph on this blank check please?


Can a divorced person go to a Catholic Mass?

Yes, however if they have remarried without an annulment first, they may not receive communion.