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What happens when the bank locks your house because you have not made your mortgage payments?
Wiki User
∙ 16y ago
The first thing you should do is call the bank--possibly the loss mitigation section. Locking the doors should not have come as a surprise if you have been answering emails and phone calls from your lender. Sometimes, there are things that can be done to get you back on track with the house payments, but you will have to contact them--an attorney, accountant, or consumer credit counseling service (be careful to get a good nonprofit one) may be a good idea.
Wiki User
∙ 16y ago
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What happens if my girlfriend dies and we own a house together?
You will deal with all the payments unless the house was in her name or she left money for you. The insurance purchased to secure the mortgage should pay out.
Can a landlord break a rental lease agreement early because he did not pay the mortgage payments on the house and mortgage company is going to foreclose?
Depends on the local and state laws.
What to do if one owner is not making house payment?
The mortgage payments must be made or the lender will foreclose the mortgage.
Should your parents have you on the title of their house to avoid forced sale?
If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.
What happens if a homeowner does not make payments on their mortgage?
The bank will start foreclosure proceedings. They will file a complaint against you in court and seek judgment. The house can then be sold in a sale or auction.
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.
Do you have to mortgage your house?
No you don't have to mortgage your house, however if you do mortgage it, you could invest the available cash into a Money Market Mutual fund and cut you monthly payments to almost nothing, or actually make a profit.
Does insurance company have to pay mortgage if house fire?
NO, not unless it is a total loss. If your house is being repaired by your insurance policy you must continue to make your mortgage payments.
Do you still have to pay back your mortgage if your house for sale?
Of course. Until you pay off the mortgage loan, you have to pay payments on the home.
If your annual mortgage payments total 13986.00 how much of a mortgage can you get?
Based on a 30 year mortgage with a 4.5% interest rate, you could afford a house that was worth $230,025
What are mortgage payments?
They are payments you make on your house loan every month. If you are looking for specific mortgage payment amounts, there are many calculators out there to use. I will include one in the related links. Payments can be fixed or variable depending on the terms of the mortgage. In some instances there might be a balloon payment at the end of the term.
Does mortgage means security?
No. A mortgage is a form of loan to buy a house. As with any form of loan, if you can't keep up the payments, your bank/building society can reposess the house.
