what does it mean when the mortgage company says they must read the underlying of the mortgage?
I do not quit understand what that means.
You need to discuss this issue with an unbiased professional. If you "join into" a mortgage you are indeed liable for the underlying indebtedness. Otherwise the lender wouldn't ask you to sign the mortgage. If the mortgage goes into default it will not only affect your credit rating but the lender can go after you for payment.
A mortgage bond is a bond secured by a mortgage on one or more assets and are typically backed by real estate holdings. In a default situation, mortgage bondholders have a claim to the underlying property and could sell it off to compensate for the default. However, the value of the property may decline.
A legal mortgage is a security interest granted to the lender by the owner of property as a condition of the loan. A note details the specifics of the money being loaned to the borrower. The mortgage refers to a security interest which the borrower grants the lender. The lender takes the security interest so that if the borrower defaults on the loan, the lender can seize the underlying asset (the real property, or home).
Mortgage loan originator is an institution or individual that works with borrower to complete a mortgage transaction.A mortgage originator can be a mortgage broker or mortgage banker & is the original mortgage lender.
No, the purpose of a reverse mortgage mortgage is to eliminate mortgage payments permanently.
You need to discuss this issue with an unbiased professional. If you "join into" a mortgage you are indeed liable for the underlying indebtedness. Otherwise the lender wouldn't ask you to sign the mortgage. If the mortgage goes into default it will not only affect your credit rating but the lender can go after you for payment.
You should not be "added to the mortgage" if you're not an owner of the property. By signing a mortgage you agree to be liable for payment of the underlying debt for property that you don't own. If the mortgage goes into default the bank will go after you for payment and your credit will be ruined.
No, adeficiency judgment may not be obtained when a property in foreclosure is sold at a public sale for less than the loan amount that the underlying mortgage secures.
A mortgage bond is a bond secured by a mortgage on one or more assets and are typically backed by real estate holdings. In a default situation, mortgage bondholders have a claim to the underlying property and could sell it off to compensate for the default. However, the value of the property may decline.
The collapse in the mortgage and real estate market that produced and oversupply of houses, plummeting the prices of houses and rendering worthless the so called "Mortgage Backed Securities" that were issued by financial institutions having as an underlying assets the mortgage loans.
Some reasons to break a mortgage contract are: If the interest rate is above the legal rate for mortgages. If the mortgage is given without an underlying debt (a promissory note), the mortgage contract is invalid. A mortgage is simply a pledge of the house as security for an underlying obligation. Without the note, there is no reason to pledge the house as security. If the mortgage loan was obtained through a predatory lending practice made illegal by the Federal or state government. These are some reason to breach a mortgage contract without being liable for damages. If you break a mortgagew contract, the lender can foreclose, take the property and get a judgment against you for any loss it suffers, plus attorneys fees and court costs. In addition, even if the mortgage and mortgage note are breachable, you would be required to repay the money if you bought the house with it. The mortgage lender would lose the benefit of the bargain (the interest), but you would not be get out of repaying the loan as that would be unjust enrichment.
A legal mortgage is a security interest granted to the lender by the owner of property as a condition of the loan. A note details the specifics of the money being loaned to the borrower. The mortgage refers to a security interest which the borrower grants the lender. The lender takes the security interest so that if the borrower defaults on the loan, the lender can seize the underlying asset (the real property, or home).
Mortgage loan originator is an institution or individual that works with borrower to complete a mortgage transaction.A mortgage originator can be a mortgage broker or mortgage banker & is the original mortgage lender.
Yes, if the mortgage is in default.Yes, if the mortgage is in default.Yes, if the mortgage is in default.Yes, if the mortgage is in default.
No, the purpose of a reverse mortgage mortgage is to eliminate mortgage payments permanently.
underlying theme = grundlegendes Thema underlying theme = Grundthema underlying theme = Leitmotiv
An All Inclusive Deed of Trust (AIDOT) is an instrument made that encompasses an existing encumbrance (mortgage/Deed of Trust (DOT) with new terms irrespective of the existing [underlying] promissory note and DOT.