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What else can I help you with?
How can you deed your home back to the mortgage company?
If you mean because you're in default and want to avoid foreclosure, it's called a "deed in lieu of foreclosure" and it's usually part of an overall agreement that hopefully also extinguishes the mortgage debt. Typically the mortgage company is not required to accept it. They drive the bus.....
Do you need Puerto Rico tax returns to apply for a mortgage loan in Florida?
Yes but the majority of lenders don't accept them. We have lenders that will accept them for mortgage loans in Orlando or any other city in Florida. Call or email us for details.Jose MoralesInnovative Mortgage Services56-432-9237info@floridamortgagecoach.com
Are you responsible for the mortgage on the property that was left to you as an inheritance?
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.
Does a short sale happen when I stop making mortgage payments?
No. A foreclosure is what happens when you stop making mortgage payments. A short sale must be discussed and negotiated with the lender. In that case the lender agrees to accept the proceeds of a sale of the property even if they fall short of what is owed on the mortgage. They agree to forgive any remaining balance on the loan. It is a way to avoid a foreclosure. Not all lenders will agree to a short sale.
Does Fannie Mae accept life estates?
If the fee owner applies for a mortgage the life tenant must consent in writing so the property can be taken by foreclosure free of the life estate if there us a default.If the fee owner applies for a mortgage the life tenant must consent in writing so the property can be taken by foreclosure free of the life estate if there us a default.If the fee owner applies for a mortgage the life tenant must consent in writing so the property can be taken by foreclosure free of the life estate if there us a default.If the fee owner applies for a mortgage the life tenant must consent in writing so the property can be taken by foreclosure free of the life estate if there us a default.
There are two people on mortgage one leaves what happens?
Both parties who signed the mortgage are equally responsible for paying the mortgage. If one leaves and refuses to pay the other will be held responsible for payment. If the mortgage isn't paid the bank will take possession of the property by foreclosure and your credit will be ruined. You may want to arrange a meeting with the bank, explain your circumstances and arrange to sell the property. Perhaps the bank will accept whatever you can get for the property instead of going through the expense of a foreclosure. You have another problem. If the other person is on the deed, you will need their signature to sell the property. You should seek the advice of an attorney, perhaps one who specializes in family law and real estate, to help you resolve the situation. They would have the knowledge and experience to negotiate with the bank for you.
Can banks be forced to accept a deed in lieu of foreclosure?
NO.
Can the owner of a life estate in Florida sell or mortgage the property if a remainderman is on the deed?
They can only sell their rights to the property. Which only last as long as they live. No one would accept a mortgage on a life estate.
What happens specifically after a motion to release is filed by mortgage company we can pay to current. Will the mortgage company force a borrower into foreclosure Payment was not accepted by CSR?
I suspect this is one of those your gonna have to make it happen. Really, especially under the market of today, a bank doesn't want to own your property and record another foreclosure....if you have the money to pay to current, I would think not only should they have to accept it...but who cares...they probably want to...and get you back in the "performing asset" category! Don't accept no for an answer...but really...I can't see that they would say no to the money.
When a property goes through foreclosure can borrower do a deed in lieu prior to the end date of the redemption period?
When a Property goes into Foreclosure and a Sheriff sale date is posted, or if after the Sheriff sale and is during the redemption period a "Deed in Lieu" is always a possibility. The Mortgage lender must agree to accept this. A"Deed in lieu" is the process in which an owner would be surrendering the title to the lender. Again the Mortgage/lender must agree to this act.
Can a borrower continue to market a home in foreclosure?
The borrower can sell the house up until the auction is completed. If it does not sell for the amount owed, the borrower may be able to get the mortgage holder to accept a short sale. Watch out for scams in this area.
Where do you get a deed of lien of foreclosure?
A deed of lien can be given to you from your lender. If you are having a hardship that is beyond your control, (ie., terminal illness, forced divorce, long term hospital stay and can't work), and it creates a circumstance so that you cannot pay your mortgage and you have to foreclose, then you can write to your lender and request that they give you a deed of lien on your foreclosure. If they accept your request and give you the deed of lien then your foreclosure won't go on your credit. It may help however for the lender to accept your request if they see that you did try to sell your home first.
