Who is the mortgagors'?

Who are the parties in discharge of mortgage?

The bank and the mortgagors.The bank and the mortgagors.The bank and the mortgagors.The bank and the mortgagors.

What does it mean to close on a mortgage loan?

That means the mortgagors meet with the lender's attorney and sign all the documents, the transaction is completed and the mortgage is recorded in the land records. It's a done deal.That means the mortgagors meet with the lender's attorney and sign all the documents, the transaction is completed and the mortgage is recorded in the land records. It's a done deal.That means the mortgagors meet with the lender's attorney and sign all the documents, the transaction is completed and the mortgage is recorded in the land records. It's a done deal.That means the mortgagors meet with the lender's attorney and sign all the documents, the transaction is completed and the mortgage is recorded in the land records. It's a done deal.

How does one transfer ownership if co-mortgagor has not paid for over twenty years?

You would need to bring an action in a court of equity asking the court that you be reimbursed for the co-mortgagors payments that you made. You could also request that the co-mortgagors title be transferred to you if they have paid nothing toward the insurance, taxes, upkeep and maintenance of the property. Only a court can transfer ownership if the record owner won't sing a deed.

Can a person agree to keep on paying certain obligation such as a home mortgage?

If two people owe a mortgage and one agrees to pay it, the bank is under no obligation to free the other person from their obligations under the mortgage. If the person fails to make the payments both mortgagors will be held equally responsibility for paying the mortgage and in the case of a default it will be reported on both credit records. The answer is yes, a person can agree to keep paying a mortgage but their agreement will have no effect on the obligations of both mortgagors.

Are joint tenants equally responsible for the mortgage?

Yes. Joint tenants are equally responsible for paying the mortgage. However, you should be aware that if the circumstances in the relationship between the parties (mortgagors) changes and one abandons the property, the lender will hold the remaining person solely responsible for paying the entire balance due.

After buying a house what is the best time refinance house to lower the monthly payment?

The best time is when you can qualify for a rate that will actually reduce your monthly payments enough and make up for the costs associated with the refinance. Often the mortgagors find their payments have not been reduced substantially and when you add the closing costs a refinance is often not profitable. You need to do your own research and your own math.

If your house is in forecloure can your spouse buy another house while you file bankruptcy There was a quick claim done to get spouse name off of the title?

If two people owned property, executed a mortgage, and the mortgage is in default, the foreclosure will be filed in both names. It was both mortgagors who defaulted and both will be parties to the foreclosure. If one executes a quitclaim deed to the other that will not stop their being mentioned in the foreclosure.

How do you foreclose on a private mortgage when the mortgagors are three months behind?

There is no quick how-to page on foreclosure. Each state has its own rules and certain federal regulations must also be followed. You need to consult with an attorney who specializes in foreclosures in your state who can review your situation and explain your options. You could also go to a local law library and read up on foreclosure in your state to determine how complicated the process is under your state laws.

Whose name goes first on a discharge of mortgage?

The lender's name is recited first in the discharge. As to the mortgagors, it doesn't matter whose name goes first. The important information consists of: the names of all the parties, the date of the mortgage and the recording information. If the mortgage was assigned, the original mortgagee should be recited and the authority of the discharging assignee should be recited by showing the chain of record title from the original mortgagee to the discharging mortgagee.

Is Erie insurance of Erie pa a reputable co how are they rated?

Erie is a reputable company. The property/casualty branch of Erie has an A.M. Best Rating of A+ (superior) and their life insurance branch has a Best rating of A (excellent). I work in the insurance department of a large national mortgage servicer, we require our mortgagors to carry insurance by a company that meets a minimum Best rating, Erie is one of these companies, if that tells you anything. Hope this helps!

How Do you discharge a mortgage?

If you are the mortgagor, you pay the mortgage off and request a discharge from the record owner of the mortgage if the original mortgage was assigned. The discharge must be recorded in the land records.If you are the mortgagee you can draft a release listing the names of the mortgagors, the date of the mortgage and the recording information and a statement that the mortgage has been satisfied in full. It should be signed by the mortgagees, acknowledged and recorded in the land records. You can also obtain a mortgage discharge at an office supply store, online or visit the land records office and get an example of a recorded mortgage discharge to use as a model.If you are the mortgagor, you pay the mortgage off and request a discharge from the record owner of the mortgage if the original mortgage was assigned. The discharge must be recorded in the land records.If you are the mortgagee you can draft a release listing the names of the mortgagors, the date of the mortgage and the recording information and a statement that the mortgage has been satisfied in full. It should be signed by the mortgagees, acknowledged and recorded in the land records. You can also obtain a mortgage discharge at an office supply store, online or visit the land records office and get an example of a recorded mortgage discharge to use as a model.If you are the mortgagor, you pay the mortgage off and request a discharge from the record owner of the mortgage if the original mortgage was assigned. The discharge must be recorded in the land records.If you are the mortgagee you can draft a release listing the names of the mortgagors, the date of the mortgage and the recording information and a statement that the mortgage has been satisfied in full. It should be signed by the mortgagees, acknowledged and recorded in the land records. You can also obtain a mortgage discharge at an office supply store, online or visit the land records office and get an example of a recorded mortgage discharge to use as a model.If you are the mortgagor, you pay the mortgage off and request a discharge from the record owner of the mortgage if the original mortgage was assigned. The discharge must be recorded in the land records.If you are the mortgagee you can draft a release listing the names of the mortgagors, the date of the mortgage and the recording information and a statement that the mortgage has been satisfied in full. It should be signed by the mortgagees, acknowledged and recorded in the land records. You can also obtain a mortgage discharge at an office supply store, online or visit the land records office and get an example of a recorded mortgage discharge to use as a model.

Do you have to have an appraisal?

As a buyer, seller, mortgagor (one who gives a mortgage as security for a loan; the borrower) or mortgagee (the party who advances funds for a mortgage loan; the lender) an appraisal is needed in order to be adequately informed about the subject real estate. Appraisals help potential buyers, sellers and mortgagors, and potential mortgagees make a decision. For example, an appraisal helps a buyer determine a reasonable offer for a home that is for sale. A lender will want to know if the subject property is valuable enough to cover the mortgage amount in the event of foreclosure.