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When a husband leaves and doesn't pay any of the mortgage is he entitled to half the equity in the house?
Wiki User
∙ 13y ago
If he is on the deed, yes. If you can afford to keep paying the mortgage on your own it would be better to refinance in your own name and make him an offer and buy him out. On the other hand, even if he leaves he is responsible for the mortgage in the case of a default. A foreclosure would ruin his credit also.
You should consult with an attorney about a divorce and the real estate you own jointly.
If he is on the deed, yes. If you can afford to keep paying the mortgage on your own it would be better to refinance in your own name and make him an offer and buy him out. On the other hand, even if he leaves he is responsible for the mortgage in the case of a default. A foreclosure would ruin his credit also.
You should consult with an attorney about a divorce and the real estate you own jointly.
If he is on the deed, yes. If you can afford to keep paying the mortgage on your own it would be better to refinance in your own name and make him an offer and buy him out. On the other hand, even if he leaves he is responsible for the mortgage in the case of a default. A foreclosure would ruin his credit also.
You should consult with an attorney about a divorce and the real estate you own jointly.
If he is on the deed, yes. If you can afford to keep paying the mortgage on your own it would be better to refinance in your own name and make him an offer and buy him out. On the other hand, even if he leaves he is responsible for the mortgage in the case of a default. A foreclosure would ruin his credit also.
You should consult with an attorney about a divorce and the real estate you own jointly.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoIf he is on the deed, yes. If you can afford to keep paying the mortgage on your own it would be better to refinance in your own name and make him an offer and buy him out. On the other hand, even if he leaves he is responsible for the mortgage in the case of a default. A foreclosure would ruin his credit also.
You should consult with an attorney about a divorce and the real estate you own jointly.
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What if you pay your first mortgage but not your home equity?
If you have a first mortgage and a home equity mortgage, the home equity mortgage is a second mortgage. If the home equity mortgage is not paid, the lender can foreclose and take possession of the property subject to the first mortgage. The home equity lender can pay off the first mortgage and keep any excess proceeds from a sale.
If i buy a home in my name while separated can a lien be put against it if my husband's home is forclosed on?
It sounds like you are not on the mortgage with your husband on your previous home. If he is foreclosed on, and you are only on the deed, then you have no financial liability. If you are buying a new home and you are on the mortgage with your husband, you won't be able to get a mortgage because you are on the verge of foreclosing Be careful when buying a home while separated however. Depending on what state you live your husband may be entitled to half the equity in your new home in the event of a divorce. Its called community property Here is a list of community property states: http://www.bankapedia.com/mortgage-encyclopedia/residential-mortgage-terms/121-community-property
Can you use a home equity loan to pay off your existing mortgage?
Equity is the value of your home less the amount owed on the mortgage. A home equity loan is a loan secured by the equity in your home. Your lender will use an assessment to decide your home's value and the amount of equity available to abstract. If the available equity exceeds your mortgage balance, you can use an equity loan to pay off your mortgage. If your mortgage exceeds the available equity you cannot use the equity to pay off your existing mortgage.
What is a Paramount equity mortgage?
A Paramount Equity mortgage can be described very simply. One of the best ways to describe this is simply a mortgage through the Paramount Equity company.
What is the purpose of an equity home loan mortgage?
An equity home loan mortgage is similar to a second mortgage where it is possible to borrow on the equity of a home. This helps reduce financial pressure like facing a foreclosure on a home.
I pay the mortgage but my husband paid for the house is it my house?
If you are paying the mortgage, your husband didn't pay for the house. The bank owns the house and you and your husband have an equal share in the equity.
Your name is on the deed to a house but not on the loan are you entitled to half of equity?
Yes. If you are a joint fee owner and you didn't sign the mortgage then your half interest is free of the mortgage.
What if you pay your first mortgage but not your home equity?
If you have a first mortgage and a home equity mortgage, the home equity mortgage is a second mortgage. If the home equity mortgage is not paid, the lender can foreclose and take possession of the property subject to the first mortgage. The home equity lender can pay off the first mortgage and keep any excess proceeds from a sale.
What is American Equity index 5 rated?
If you are referring to American Equity Investment Life Insurance Company (and not the mortgage company) and have an Index-5 then you may be entitled to funds from a class action settlement.
If i buy a home in my name while separated can a lien be put against it if my husband's home is forclosed on?
It sounds like you are not on the mortgage with your husband on your previous home. If he is foreclosed on, and you are only on the deed, then you have no financial liability. If you are buying a new home and you are on the mortgage with your husband, you won't be able to get a mortgage because you are on the verge of foreclosing Be careful when buying a home while separated however. Depending on what state you live your husband may be entitled to half the equity in your new home in the event of a divorce. Its called community property Here is a list of community property states: http://www.bankapedia.com/mortgage-encyclopedia/residential-mortgage-terms/121-community-property
Can you use a home equity loan to pay off your existing mortgage?
Equity is the value of your home less the amount owed on the mortgage. A home equity loan is a loan secured by the equity in your home. Your lender will use an assessment to decide your home's value and the amount of equity available to abstract. If the available equity exceeds your mortgage balance, you can use an equity loan to pay off your mortgage. If your mortgage exceeds the available equity you cannot use the equity to pay off your existing mortgage.
What is a Paramount equity mortgage?
A Paramount Equity mortgage can be described very simply. One of the best ways to describe this is simply a mortgage through the Paramount Equity company.
If my husband and I have to file bankruptcy and the car is in my daughters and my name will we loose it?
If there is no equity in the car (it is worth as much or less than the payoff price), and the payments are current, no. If there is equity, since your daughter is not entitled to your exemption, someone will have to pay half of the equity to the trustee.
What is a paid off portion called on your mortgage equity?
equity
What is the purpose of an equity home loan mortgage?
An equity home loan mortgage is similar to a second mortgage where it is possible to borrow on the equity of a home. This helps reduce financial pressure like facing a foreclosure on a home.
How do you calcualate equity in your home?
Home equity is the difference between the current value of a home and the amount still owed on the mortgage. As the principal of the mortgage amount decreases as a result of monthly mortgage payments, the home equity increases.
Can a second secured mortgage loan be discharged?
Yes, if there is no equity in the house to secure that second mortgage, or the equity is less than the exemption.
