yes,but it would only add to your problems as it is your responsibility to ensure you have a sound unit for the security of the loan. It is your issue to ensure the unit is sound and worth what you are paying. The bank is not the babysitter here and is possibly left holding something that is not of value due to a negligence on your part.
Yes, you can sue someone for not paying their mortgage. This legal action is typically initiated by the lender or mortgage holder to recover the unpaid debt and potentially foreclose on the property.
After the foreclosure of the first mortgage the second mortgage is wiped out as an encumbrance against the property but remains an unpaid debt against the mortgagor. The creditor can sue in civil court.After the foreclosure of the first mortgage the second mortgage is wiped out as an encumbrance against the property but remains an unpaid debt against the mortgagor. The creditor can sue in civil court.After the foreclosure of the first mortgage the second mortgage is wiped out as an encumbrance against the property but remains an unpaid debt against the mortgagor. The creditor can sue in civil court.After the foreclosure of the first mortgage the second mortgage is wiped out as an encumbrance against the property but remains an unpaid debt against the mortgagor. The creditor can sue in civil court.
First, it is unclear how you know the mortgage company received money toward the second mortgage from the foreclosure of the first mortgage. The lender can sue for the second mortgage. You should consult with an attorney who can seek documentation from the lender to support the amount they are suing you for.First, it is unclear how you know the mortgage company received money toward the second mortgage from the foreclosure of the first mortgage. The lender can sue for the second mortgage. You should consult with an attorney who can seek documentation from the lender to support the amount they are suing you for.First, it is unclear how you know the mortgage company received money toward the second mortgage from the foreclosure of the first mortgage. The lender can sue for the second mortgage. You should consult with an attorney who can seek documentation from the lender to support the amount they are suing you for.First, it is unclear how you know the mortgage company received money toward the second mortgage from the foreclosure of the first mortgage. The lender can sue for the second mortgage. You should consult with an attorney who can seek documentation from the lender to support the amount they are suing you for.
There is no procedure for this. The mortgage must be refinanced.
Yes
Yes, you can sue someone for not paying their mortgage. This legal action is typically initiated by the lender or mortgage holder to recover the unpaid debt and potentially foreclose on the property.
No, they will normally just foreclose on the property.
After the foreclosure of the first mortgage the second mortgage is wiped out as an encumbrance against the property but remains an unpaid debt against the mortgagor. The creditor can sue in civil court.After the foreclosure of the first mortgage the second mortgage is wiped out as an encumbrance against the property but remains an unpaid debt against the mortgagor. The creditor can sue in civil court.After the foreclosure of the first mortgage the second mortgage is wiped out as an encumbrance against the property but remains an unpaid debt against the mortgagor. The creditor can sue in civil court.After the foreclosure of the first mortgage the second mortgage is wiped out as an encumbrance against the property but remains an unpaid debt against the mortgagor. The creditor can sue in civil court.
You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.
The other must pay the mortgage or the property will be taken by foreclosure and both credit records will suffer. If one will be paying the mortgage they should sue the other for their interest in the property or buy their interest out. You should consult with an attorney.
Yes. The mortgage exists as collateral for the second mortgage loan. If the second mortgage loan is not satisfied at the foreclosure sale, the second mortgage lender merely loses the collateral but not the loan and it can sue the now former homeowner for the unpaid balance. This is no different than if there is insufficient money from the sale to pay the first mortgage holder in full. The first mortgage hold can file a lawsuit later to recover the deficiency between the actual loan amount and all credits the homeowner is entitled to receive.
If the decedent signed the mortgage the lender can take possession of the property by foreclosure if the mortgage isn't paid.Whether the lender can sue the estate for any deficiency depends on several factors including the law in your jurisdiction. You should ask the attorney who is handling the estate.If the decedent signed the mortgage the lender can take possession of the property by foreclosure if the mortgage isn't paid.Whether the lender can sue the estate for any deficiency depends on several factors including the law in your jurisdiction. You should ask the attorney who is handling the estate.If the decedent signed the mortgage the lender can take possession of the property by foreclosure if the mortgage isn't paid.Whether the lender can sue the estate for any deficiency depends on several factors including the law in your jurisdiction. You should ask the attorney who is handling the estate.If the decedent signed the mortgage the lender can take possession of the property by foreclosure if the mortgage isn't paid.Whether the lender can sue the estate for any deficiency depends on several factors including the law in your jurisdiction. You should ask the attorney who is handling the estate.
He can sue you for any work he performed prior to his withdrawal. If the court decides in his favor he can ask for a judgment lien and file that in the land records. You cannot sell or mortgage your property until the lien is paid.He can sue you for any work he performed prior to his withdrawal. If the court decides in his favor he can ask for a judgment lien and file that in the land records. You cannot sell or mortgage your property until the lien is paid.He can sue you for any work he performed prior to his withdrawal. If the court decides in his favor he can ask for a judgment lien and file that in the land records. You cannot sell or mortgage your property until the lien is paid.He can sue you for any work he performed prior to his withdrawal. If the court decides in his favor he can ask for a judgment lien and file that in the land records. You cannot sell or mortgage your property until the lien is paid.
First, it is unclear how you know the mortgage company received money toward the second mortgage from the foreclosure of the first mortgage. The lender can sue for the second mortgage. You should consult with an attorney who can seek documentation from the lender to support the amount they are suing you for.First, it is unclear how you know the mortgage company received money toward the second mortgage from the foreclosure of the first mortgage. The lender can sue for the second mortgage. You should consult with an attorney who can seek documentation from the lender to support the amount they are suing you for.First, it is unclear how you know the mortgage company received money toward the second mortgage from the foreclosure of the first mortgage. The lender can sue for the second mortgage. You should consult with an attorney who can seek documentation from the lender to support the amount they are suing you for.First, it is unclear how you know the mortgage company received money toward the second mortgage from the foreclosure of the first mortgage. The lender can sue for the second mortgage. You should consult with an attorney who can seek documentation from the lender to support the amount they are suing you for.
There is no procedure for this. The mortgage must be refinanced.
Yes
Yes. The remainders actually own the fee in the property. They have the right to have the property maintained in good condition by the life tenant. If the life estate holder is wasting the property the remainders can sue in court to have the life estate terminated. Upon the death of the life tenant or the release of the life estate they will have the right to full use and possession of the property.