if the mortgage is in your name then keep paying it off. if the mortgage is in both names of you and your ex then contact the finantial institution for advise so you dont have trouble later down the track with your ex claiming half when the house is paid off.
The person who is on the mortgage is legally responsible for paying the debt. If the debt is not paid the bank will take possession of the property. The division of the property will be addressed through negotiation by the attorneys representing the parties or by a judicial order.
Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.
HELP MFORM PAYING YOUR MORTGAGE
If your name was added to property after the property was mortgaged then you are not legally responsible for paying the mortgage and a foreclosure of the mortgage will not affect your credit. However, if the mortgage isn't paid the lender will take possession of the property by a foreclosure process.
The biological parent is legally responsible for paying child support. A step parent is not legally responsible for paying child support.The biological parent is legally responsible for paying child support. A step parent is not legally responsible for paying child support.The biological parent is legally responsible for paying child support. A step parent is not legally responsible for paying child support.The biological parent is legally responsible for paying child support. A step parent is not legally responsible for paying child support.
Since he is not listed as a borrower on the first mortgage his credit is not affected by paying or not paying that mortgage. Even if both loans are with the same company, he is only held responsible for the loan in which he signed.
Unless there was some sort of mortgage insurance, the estate is responsible for paying the mortgage. If the mortgage isn't paid the lender will take possession by foreclosure. If the heirs want to keep the property they must keep paying the mortgage.
The answer is who is on the mortgage or deed of trust contract not who has title to the property. All parties on the mortgage are equally obligated for the mortgage payments irrespective whether or not they are in title to the property. A mortgage or deed of trust is a contract and the parties thereto are bound by the terms of the contract.Another PerspectiveIn addition, The lender will foreclose if the mortgage isn't paid. You have not stated who signed the mortgage and that is important to your question. If the husband is paying the mortgage and is not on the title he is paying for property he doesn't own. If he signed the mortgage then his credit record is at risk if the mortgage isn't paid. This matter will need to be addressed at some point by a court, perhaps divorce court, since the owner has abandoned the premises. You need to consult with an attorney.
No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.
If your decree makes you responsible for paying the mortgage, then you should try to contact the mortgage company about getting some arrangement going that will help you stay current while you find another job. You should also contact your ex wife about the situation, and hope she can step up for a few months to help with the issue.
no
A person who executed a mortgage has already agreed to be responsible for paying it until it is paid off.