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What happens to the mortgage loan when bought on a tax deed sale who is responsible or will the bank put a lien on the property?
Wiki User
∙ 13y ago
A mortgage IS a lien on the property. The bank already has an interest in the property that was perfected as soon as the mortgage was recorded in the land records. If you purchase property that is subject to a mortgage, the mortgage must be paid or the bank will take possession of the property by foreclosure.
Wiki User
∙ 13y ago
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You just bought property and there is a mobile home on it the owner is deceased are you responsible for the mortgage loan and back payments?
Do you want the mobile home? If yes then you must pay. If not, then let the bank come and repossess it.
What is a seller held mortgage?
It means that the person from whom you bought the property is personally supplying the mortgage financing themselves. (i.e.: they are supplying the financing and not some mortgage company or bank.)
Your mortgage company added your other property to your mortgage illegally 2 years after signing mortgage What can you do?
The mortgage company can not add another property to your existing note without you signing for it. If they have placed a lien on your property you can go to court and make them remove it. Pull your Mortgage or Deed of Trust (depending on what state you are in) and look at the addresses on it. If it does not show the second property, then they have no legal right to put a lien on it. I would go to the closing agent (title company or attorney) that originally searched the title to your property and ask them for help. in some states if you had a foreclosure on another property, the first lender can place a lien on a new property that you have bought, if that is what you are talking about.
What happens if you bought a car in tx for a friend and they get a no insurance ticket are you responsible?
You shouldn't be, they were the one cited.
What is the buy to let mortgage quote?
A buy-to-let mortgage is also known as a landlord mortgage in the United Kingdom. These are only made available for residential properties that will be bought by one person and then that property is rented out to another person. Most UK banks will provide buy-to-let mortgage quotes.
What should you do if your husband and you jointly bought a property but he mortgaged it without your knowledge and he is now overseas and the mortgage company wants you to make payments?
you should get a devorce with him!!! i would.
Is it a good idea to buy a bank note for your own property from someone who has bought it from the bank?
That could be done. However, you should seek the assistance of an attorney to determine that the assignment of the note from the original lender to the person who claims to have bought it is bonafide. The assignment of the note and mortgage from the bank to the present holder should be in writing, with reference to the recording information of the mortgage and signed by an authorized bank officer. The note and mortgage should then be assigned to you in writing, and in a similar form, upon payment to that assignee. Both of the assignments should be recorded in the land records. The second assignment, to you, should extinguish the mortgage lien on your property if you are still the record owner of the property.
Who is responsible for damages if the vehicle isn't registered to person who hits another car but the person responsible bought it and hadn't transferred it yet?
The driver is always responsible for whatever happens to vehical he is driving
What happens if you were incarcerated before receiving a deed on property you bought and cannot secure the property in pa?
Your lawyer must bring the papers to you to sign. Being in jail normally does not affect property ownership.
What companies have the right to buy mortgages?
Some of the companies that have bought and sold rights to a mortgage include Thornburg Mortgage, Luminent Mortgage Capital and The Blackstone Group. American Equity Funding has also bought and sold many mortgage rights.
You bought a newly built house first owner which you loose to foreclosure A friend told you it would be legal for you to take the appliances with you refrigerator stove etc Is it true?
Unless you agreed in your mortgage document and note they would be covered by the mortgage, then they are your property and you can take them with you.
How does a let to buy mortgage work?
In regards to a let to buy mortgage, as long as it is earning income, a let to buy mortgage is bought on any property. Buy to let mortgages allow individuals to borrow money to rent out or buy properties with. They are known to make good investments despite the decline in usage.
