Your dad died and he was the only name on the mortgage is your mom responsible for the mortgage?
The mortgage must be paid if you want to keep the property. If the mortgage isn't paid the bank will foreclose and take possession of the property. If your father was also the only one on the deed then his estate must be probated for title to the real estate to pass to his heirs.
You should consult with an attorney who specializes in probate.
If both own the property and only one signed the mortgage then the lender will only acquire the mortgagor's interest in the case of a foreclosure. The lender will become a co-owner with the spouse who didn't sign the mortgage. The spouse who didn't sign the mortgage is not responsible for the debt and the foreclosure will not be reported under their name. Read More
What happens does when your name is not on the deed but it is on the mortgage and the one on the deed dies?
For some reason only known to you, you promised to pay for property you do not own. Since the primary borrower, the owner, has died you will be responsible for paying off the mortgage or your own credit will be affected and the default and foreclosure will be reported to your personal credit record. For some reason only known to you, you promised to pay for property you do not own. Since the primary borrower… Read More
Generally, the only way to have your name removed from a mortgage is to pay that mortgage off and refinance in someone else's name. Generally, the only way to have your name removed from a mortgage is to pay that mortgage off and refinance in someone else's name. Generally, the only way to have your name removed from a mortgage is to pay that mortgage off and refinance in someone else's name. Generally, the only… Read More
Predatory lending/fraud or egregious error on the part of the lender are the only ways to be held not responsible. If you entered into a legal agreement fairly and legally, the only way to not be responsible is to invalidate the contract by proving it was not made legitimately. Another Perspective The only other way is to be released from the obligation is to pay off that mortgage and refinance it in one name in… Read More
What if your name was on the mortgage application and the note but didn't make it onto the mortgage which was in the name of the co-owner only. can you get out of paying that debt?
You could not be approved for a mortgage because your credit was too poor and you needed a co-signer. Your co-signer was wise enough to arrange that the title be in his name also. You signed the mortgage application and the note. Through inadvertence and error the bank didn't have you sign the mortgage. It has enough evidence to "reform" the mortgage in court. You are responsible for paying the debt. Read More
Can your in-laws apply for the mortgage using their credit score even though your husband and you would be making the payments and how soon after that can you switch it into your names?
If your in-laws apply for the mortage, the mortgage is in their name and they're responsible for paying the bill. If you pay them in order to make the mortgage payment, you are building their equity, not yours. The only way you can switch the mortgage to your name is for you to buy the house from your in-laws. Read More
If you signed the mortgage and note then you promised to pay for property you do not own. By signing, you agreed to be fully responsible for paying the loan if the primary borrower, the owner, doesn't pay. The only way for you to get an ownership interest would be for the owner to convey an interest to you by a deed. Read More
A mortgage is in the husband's name the deed is in the wife's maiden name along with the husband's. If the husband dies is the wife responsible for the mortgage that she did not sign?
She is not responsible for paying the mortgage if she didn't sign it. Furthermore, if the bank tried to foreclose, it could only take possession of the husband's half interest. The wife should contact an attorney who specializes in real estate law. She is not responsible for paying the mortgage if she didn't sign it. Furthermore, if the bank tried to foreclose, it could only take possession of the husband's half interest. The wife should… Read More
Louisiana is a community property state you are on the deed only with your husband It says you own it by tenancy by entirety What does this mean What if the mortgage is only in his name?
You AND your husband are the owners of the house. Should you divorce, you have an equal investment in the house. The mortgage is in your husband's name, but should he die, you are responsible for this bill. If you default on the loan, you will foreclose on the house. The mortgage company does not care who pays the loan off, as long as it gets paid. Read More
Can I refinance a mortgage that is currently only in my wife's name and have the new mortgage be only in my name if the house is in both of our names?
The lender should require that all the owners of the property sign the mortgage. Otherwise, if there is a default the bank can only foreclose on the interest of the party who signed the mortgage. Read More
The only way to get someone's name off a mortgage is to pay it off and refinance if necessary. The only way to get someone's name off a mortgage is to pay it off and refinance if necessary. The only way to get someone's name off a mortgage is to pay it off and refinance if necessary. The only way to get someone's name off a mortgage is to pay it off and refinance if… Read More
If husband took a mortgage on his home to buy daughter's home before he re-married will wife be held liable to pay this debt by selling the house in case of his death with or minus a will?
no, the only one responsible for payment is the name on the note, not the mortgage. Read More
If two people are co-owners of real property and then only one signs a note and mortgage, the lender can only foreclose on that one's interest in the property. A foreclosure would only be reported on that person't credit record. If your name was added to the property after the mortgage was granted by the owner you are not responsible for it as long as you didn't sign the mortgage or the note. The foreclosure… Read More
Your husband and you divorced and then he died are you responsible for his 5 bank loans your name was on the home only?
yes Read More
You are buying a home with your boyfriend but because your credit is good and his is not you will be the loan holder and he will be on the title how can you assure you are protected?
In order to perfect its interest in the mortgaged premises in case of foreclosure, the bank must have all the owners execute the mortgage. If your lender wants the mortgage to be only in your name then the title on the deed will also need to be only in your name. Your boyfriend's name will not be on the deed. The property will be in your name alone and you will be the person legally… Read More
Yes. A person who doesn't own the property can agree to be responsible for paying the mortgage. However, they would be a volunteer and signing the mortgage and note would give no ownership interest in the property. If the primary borrower failed to pay the volunteer would be held fully responsible for paying the mortgage. Read More
You need to discuss that with the lender. Generally the only way to remove your name from a mortgage is to pay it off. You need to discuss that with the lender. Generally the only way to remove your name from a mortgage is to pay it off. You need to discuss that with the lender. Generally the only way to remove your name from a mortgage is to pay it off. You need to… Read More
if you acquired your interest be deed after the mortgage was granted: You are not responsible for the payment of the mortgage and default will not affect your credit record. However, if the mortgagor defaults on the mortgage the bank can take possession of the property by foreclosure and you will lose your interest as well. If you acquired your interest before the mortgage was granted but didn't sign the mortgage: You are not responsible… Read More
You are only responsible for the mortgage if you are willing to accept the debt. If you are not willing to accept the debt you simply allow the property to be entered into probate and foreclosed on by the lender. You are not responsible for any monies owed regarding said property even if it was "willed" to you unless you choose to do so. Read More
Does the life estate person or the remainder men in a life estate pay for the mortgage that is on home deed only in person who died name but mtg is in both person who died and his wifes name?
Look to the instrument that created the interests. If the instrument is silent on this point, in most cases, the decedent's wife is obligated since her name is on the mortgage. Option: If this is not desired, someone else (life estate tenant or remainderman) may refinance and pay off first mortgage. Read More
Only with the OK of the lender. Once a mortgage has been signed it will remain in effect until it is paid. The bank required a co-signer in order to guarantee that mortgage would be paid if the primary borrower defaults on the payments. The co-signer remains responsible for the mortgage until it is paid off. In order to get your name off a mortgage you co-signed the mortgage would need to be paid off… Read More
Unmarrie couple both name on deeds the mortgage is on his name Read More
I am getting divorced and my husband is threatening to make me sell the house. What rights do I have to my home if my husband's name is on the title with mine however the mortgage is in my name alone?
You are in an extremely vulnerable position since you signed the mortgage alone and then granted your husband an equal interest in the property even though he had no responsibility for paying the mortgage. You own a half interest in your home and you are the only one responsible for the mortgage. You may be required to buy his interest if you want to keep your house. You need to discuss your situation with an… Read More
Only by refinancing, paying off the mortgage, with consent of the mortgagee or by court order that is binding on the lender. Read More
If her name is on the deed you cannot change the locks. If her name is only on the mortgage you should consult with an attorney before locking her out. Read More
If your name is not on the promissory note or equity line for a home your husband owns are you responsible for them if your name is on the mortgage?
I am a mortgage broker and the answer to this question lies in the section of the mortgage document entitled: Joint and Several Liability. No you are not responsible for the note. The promissary note is the promise to pay. The mortgage clause will say that any Any borrower who co-signs the mortgage (security instrument) but does not execute the Note is co-signing only to mortgage, grant adn convey his/her interest in the property and… Read More
No. They can only place a lien on your bank account. If your name isn't on the deed or mortgage they can't touch it. Read More
What if your husband has the mortgage in his name only and we have the deed in both of our names if he dies would the mortgage company get the house or would the wife?
If the property was in both your names when your husband signed a mortgage then the bank acquired only his interest, not yours. If he died the bank could foreclose on his half interest only if the mortgage isn't paid. However, if the property was in your husband's name alone when he mortgaged the property and was later transferred to both your names, the bank could foreclose and take possession of the property if the… Read More
What should I do about my aunt's condo that I have title to and there have been no mortgage payments made?
Your name on the title implies that you own the condominium. Unless during the probate of her estate, there was a different disposition of the property, you own it. Not only are you responsible for the mortgage, you're also responsible for the monthly assessments. Not paying either of these debts will --sooner or later -- mean that the property will be foreclosed upon, sold and monies used to repay the mortgage and -- if the… Read More
If you have signed a quit claim deed as the grantor is there any way to force the grantee to refinance the mortgage loan to remove your name from the monitary obligation?
Unfortunately, if you've signed your rights away you are only removed from title and are still obligated to the mortgage. The only way to get out of the mortgage is for the person holding title to refi and have your name removed from the mortgage. Read More
You are obligated for paying the loan if you signed the mortgage. If your name was added to the title after the mortgage was granted then you received your interest subject to the mortgage. If it isn't paid the lender will take possession of the property by foreclosure. If your name was on the title prior to the mortgage and the lender didn't have you consent to the mortgage then the lender made a big… Read More
I own a condo with my boyfriend. I am moving out of the state and my boyfriend will remain in the condo. Can I file a quit claim deed to get my name off the mortgage?
No. The mortgage will need to be paid off and refinanced to free you from the obligation. Do not convey your interest to your boyfriend until he has been approved for a refinancing and make certain your deed is part of that same transaction. You will want indisputable proof the mortgage will be paid off and a new mortgage recorded in your boyfriend's name only. Only then should you sign a deed. The matter should… Read More
My husband cosigned for my 2nd mortgage and he is not on the first mortgage. if we have the same lender for both mortgages and we quit paying on the first mortgage how fast will his credit be impacted?
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. Read More
What relief can the mortgagee receive if 2 names on the deed but only one signed the mortgage and the person not on the mortgage moved out and left the expense to the one whose name is on the mortgage?
Regardless of whose name is on the mortgage the property legally belongs to the person or persons named on the deed. The mortgage is only a financial obligation, the deed is a legal ownership document. Of course, if the mortgage is not paid the mortgagor can file a foreclosure action against the property. Read More
Yes. Read More
One party can sign an agreement to hold the other not responsible for the debt, for example, in a divorce agreement. However, the lender is under no obligation to honor that agreement. If the person who agrees to pay the mortgage defaults the lender can and will hold both parties equally responsible for the debt. The credit of both parties will be ruined and the bank may go after any assets owned by the "non-responsible-by-divorce-agreement"… Read More
What happens to mortgage when the only person on the title dies and is survived by a minor child in the state of Florida?
The estate is responsible for clearing the mortgage. They will either pay it off, or more likely, sell the home, pay off the mortgage and put the remainder into trust for the use of the minor. Read More
If you are married must a mortgage use both partners' credit or can it be in only one person's name?
My wife and l bought a condo and it is in both our names but the loan is only in my name We just bought a house but the mortgage loan is only on my name. The title and deed is is both our names. Read More
Each person who signed the mortgage is responsible for it. Generally, the only way to remove your name from the mortgage is to pay the mortgage in full. Perhaps one co-owner could arrange to buy the other's interest and refinance the property with a new mortgage. If a buyout won't work then the property would need to be sold and the mortgage paid off. Until a decision is made the mortgage must be paid. You… Read More
Yes, but only if you have defaulted on the mortgage. When you granted the mortgage you gave the lender an interest in the property that it could foreclose if you do not keep up payments on the mortgage. The lender can sell the property to recover the debt. If your name went on a deed after the mortgage was granted, and the mortgage was granted by the owner of the property at the time of… Read More
Yes it does, Only after you refinance the property may you take the cosigners name of the mortgage loan. Read More
Spouse died and had credit cards in his name only will wife be responsible for paying creditors in Ohio?
No you wont be, as the credit was in his name only, because if he dies you cannot use the credit cards as they are in his name not yours. This is how I understand the system here in australia. Read More
The lender owns the mortgage and a lender will not generally remove any name from the obligation to pay. The only way for you to get your daughter's name off the debt is to pay the loan off and refinance in your own name. Read More
All the owners will need to sign the mortgage so the lender can take possession of the property by foreclosure in the case of a default. Only one can sign the note agreeing to be responsible for paying the loan if the lender agrees. Read More
How can you transfer your mortgage to your mother who has less than perfect credit if both of your names are already on the deed?
You can't transfer the mortgage, but you can remortgage in her name only. Read More
Since the couple were not married the surviving person is only responsible for joint debts only. The status of the home ownership depends upon how the property is titled and the terms of the mortgage agreement. Read More
I want to do a VA refinance on wife's fha mortgage in my name only but you I not on the deed or the original fha mortgage Lender says this isn't a refi Will it work if I am added to the Deed?
you can refi the mortgage without your wife. you do not have to ad yourself to the deed you can be placed on ded at the day of closing. VA will consider this a VA cashout mortgage, and will only go to 90% of the loan to value. Your name can be added at closing Read More
A lender would require that all the owners of the property execute the mortgage. If only one person signs the mortgage and it is later foreclosed, the lender would only get that person't interest. Lender would want ALL the interest conveyed in the mortgage deed. Read More
My name is on the house loan but my husbands name is only name on the as owner of the house if he dies what will happen to the house Will it go to me?
If your husband dies, you will be responsible for paying the mortgage since you volunteered to be the co-guarantor. If your name is not on the deed his interest will pass to his heirs according to the laws of your state unless he executes a will making you the sole beneficiary of his real estate. Read More
Are you responsible for your mother's mortgage on her house that was left to you by survivorship rights?
If you inherited the property, the estate must be probated and your mother's estate is responsible for the mortgage debt. However, if there is no cash to pay the mortgage and you want to keep the property, the mortgage must be paid or the bank will take possession of the property by foreclosure. If you decide to keep the property you need to contact the bank to arrange for an assumption of the mortgage or… Read More