The entity that owns your mortgage should also have possession of the note.
The entity that owns your mortgage should also have possession of the note.
The entity that owns your mortgage should also have possession of the note.
The entity that owns your mortgage should also have possession of the note.
The entity that owns your mortgage should also have possession of the note.
Yes. The mortgage secures the debt. The note is simply a promise that you repay the money. If you sign the note, then you are liable for the debt. The note is simply your promise to pay back the money you borrowed. If you signed the mortgage, and you default on the promises and covenants of the note and mortgage, then the mortgagee (bank) has the right to foreclose on you. The default of mortgage payments are a breach of contract which allows the lender to foreclose on your home.
If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.
A home mortgage is a loan that is secured by property through the use of a mortgage note that ultimately grants you a mortgage for your home. You can obtain financing on the purchase of your new home or any home.
If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.
Whoever signed the note and mortgage is equally responsible for paying it. If two people signed they are equally responsible for paying it.
No. Not unless you signed the note. However, the lender may have the power to take possession of the property by foreclosure if the mortgage loan isn't paid.No. Not unless you signed the note. However, the lender may have the power to take possession of the property by foreclosure if the mortgage loan isn't paid.No. Not unless you signed the note. However, the lender may have the power to take possession of the property by foreclosure if the mortgage loan isn't paid.No. Not unless you signed the note. However, the lender may have the power to take possession of the property by foreclosure if the mortgage loan isn't paid.
Thats really a matter of personal opinion and choices. But if you have a mortgage note, you almost certainly need it because it is part of your mortgage contract that you signed when you took out the financing on the house. If your home is paid off then it's a personal decision that the home owner has to make for temselves.
Responsibilty and ownership rights in the home is different from rights and responsibilities for the loan. Anyone who signed the loan note is responsible for the monetary debt.
No, you must keep the home as your primary residence, renting out the home is a violation of the mortgage agreement and could result in the mortgage note being called due.
Yes. The lender will check the title and if you have acquired an interest since the mortgage was granted you should receive notice.Yes. The lender will check the title and if you have acquired an interest since the mortgage was granted you should receive notice.Yes. The lender will check the title and if you have acquired an interest since the mortgage was granted you should receive notice.Yes. The lender will check the title and if you have acquired an interest since the mortgage was granted you should receive notice.
Yes. ==Clarification== The mortgage company can only foreclose if the OWNER of the real estate signed the mortgage. If someone other than the owner signed the mortgage the bank has no interest in the property and therefore cannot foreclose.
Mortgage InsuranceNo, Mortgage Insurance is NOT Homeowners Insurance. Mortgage Insurance does not cover your home at all.Mortgage Insurance covers your finance note, not your home.