Yes. They'll foreclosure against the estate.
The bank will only take the home they foreclose.
If the person is unable to pay, the bank can foreclose.
A bank can not foreclose on a deceased person. A bank forecloses on a piece of property when the mortgage has not been paid. There is a difference. If the deceased person had the money in the bank to pay the mortgage and the will is in probate, someone should tell the probate judge about the situation. In this state the probate judge has the authority to pay the mortgage. He also has the authority to make the car payment. The probate judge will not do anything unless someone tells him!
Yes. The bank could foreclose and take possession of the property subject to the first mortgage.
Yes. Age is no barrier to a creditor suing on an unpaid debt. On a foreclosure matter, looking at it from the bank's point of view, it might have a legal obligation to foreclose in order to ensure that the bank's assets are not wasted.
yes
Yes. Property remains subject to a mortgage until the mortgage is paid off. If a person purchases property that is subject to a mortgage that the seller granted to a bank, the new owner must pay the mortgage or the bank can foreclose.
Not very likely
yes
No, if you ever hear of it, it is just a scare tactic that some debt collection agencies use. The only agency that can foreclose on your house is the bank or lending institution that holds your mortgage. And they can only foreclose if you are way behind in your payments.No, if you ever hear of it, it is just a scare tactic that some debt collection agencies use. The only agency that can foreclose on your house is the bank or lending institution that holds your mortgage. And they can only foreclose if you are way behind in your payments.No, if you ever hear of it, it is just a scare tactic that some debt collection agencies use. The only agency that can foreclose on your house is the bank or lending institution that holds your mortgage. And they can only foreclose if you are way behind in your payments.No, if you ever hear of it, it is just a scare tactic that some debt collection agencies use. The only agency that can foreclose on your house is the bank or lending institution that holds your mortgage. And they can only foreclose if you are way behind in your payments.No, if you ever hear of it, it is just a scare tactic that some debt collection agencies use. The only agency that can foreclose on your house is the bank or lending institution that holds your mortgage. And they can only foreclose if you are way behind in your payments.No, if you ever hear of it, it is just a scare tactic that some debt collection agencies use. The only agency that can foreclose on your house is the bank or lending institution that holds your mortgage. And they can only foreclose if you are way behind in your payments.No, if you ever hear of it, it is just a scare tactic that some debt collection agencies use. The only agency that can foreclose on your house is the bank or lending institution that holds your mortgage. And they can only foreclose if you are way behind in your payments.No, if you ever hear of it, it is just a scare tactic that some debt collection agencies use. The only agency that can foreclose on your house is the bank or lending institution that holds your mortgage. And they can only foreclose if you are way behind in your payments.No, if you ever hear of it, it is just a scare tactic that some debt collection agencies use. The only agency that can foreclose on your house is the bank or lending institution that holds your mortgage. And they can only foreclose if you are way behind in your payments.
His estate will be responsible for the mortgage. Assuming the wife is not on the deed, if the mortgage isn't paid the bank will foreclose and take possession of the property covered by the mortgage. If the wife is on the deed and she consented to the mortgage the bank can foreclose. If she is on the deed and did not consent to the mortgage then the bank had a defective title and may not be able to foreclose.
Yes, if you are not making payments on your home, the bank can foreclose. Even if you are paying something, if you are not paying the amount agreed to in the loan modification or original contract, the bank can foreclose. If bankruptcy is active, they may need permission from the court but if payments are not being made in a timely fashion the court generally grants permission to foreclose. The moral of the story - make your payments or the bank can foreclose!