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What is the meaning of mortgage foreclosure?
Mortgage foreclosure is a process by which a person, who has a mortgage on land, legally sells that same land. A mortgage can be defined as a property loan.
Why would a mortgage release be on public record file?
A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.
Is a loan for land the same as a mortgage?
No, a loan for land is not the same as a mortgage. A loan for land is specifically for purchasing land, while a mortgage is a loan used to purchase a property, which may include land and a building.
Is a land loan the same as a mortgage?
No, a land loan is not the same as a mortgage. A land loan is specifically for purchasing land without any structures on it, while a mortgage is a loan used to purchase a property with a building or home on it.
How can I sell part of my land while still having a mortgage on the property?
To sell part of your land while still having a mortgage on the property, you would need to get approval from your mortgage lender. This typically involves paying off a portion of the mortgage with the proceeds from the land sale or adjusting the terms of the mortgage to reflect the new property boundaries. It's important to consult with your lender and a real estate attorney to navigate this process effectively.
What is an unreleased mortgage?
An unreleased mortgage is a mortgage against a property that has been recorded in the land records for which no discharge has been recorded. In other words, it is still an outstanding lien against the property. The property cannot be sold until the mortgage is discharged.An unreleased mortgage is a mortgage against a property that has been recorded in the land records for which no discharge has been recorded. In other words, it is still an outstanding lien against the property. The property cannot be sold until the mortgage is discharged.An unreleased mortgage is a mortgage against a property that has been recorded in the land records for which no discharge has been recorded. In other words, it is still an outstanding lien against the property. The property cannot be sold until the mortgage is discharged.An unreleased mortgage is a mortgage against a property that has been recorded in the land records for which no discharge has been recorded. In other words, it is still an outstanding lien against the property. The property cannot be sold until the mortgage is discharged.
You co-signed a mortgage for property you don't own. Can a lien be placed on that property for your own personal debt?
No. If you are a co-signer on a mortgage for property that you don't own your personal creditor cannot place a lien against that property for your personal debt. If the creditor does record a lien in the land records it will have no effect if you have no ownership interest in the property.No. If you are a co-signer on a mortgage for property that you don't own your personal creditor cannot place a lien against that property for your personal debt. If the creditor does record a lien in the land records it will have no effect if you have no ownership interest in the property.No. If you are a co-signer on a mortgage for property that you don't own your personal creditor cannot place a lien against that property for your personal debt. If the creditor does record a lien in the land records it will have no effect if you have no ownership interest in the property.No. If you are a co-signer on a mortgage for property that you don't own your personal creditor cannot place a lien against that property for your personal debt. If the creditor does record a lien in the land records it will have no effect if you have no ownership interest in the property.
What is the meaning of mortgage foreclosure?
Mortgage foreclosure is a process by which a person, who has a mortgage on land, legally sells that same land. A mortgage can be defined as a property loan.
Why would a mortgage release be on public record file?
A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.
Is a loan for land the same as a mortgage?
No, a loan for land is not the same as a mortgage. A loan for land is specifically for purchasing land, while a mortgage is a loan used to purchase a property, which may include land and a building.
What must a mortgage holder do when the person with the mortgaged house dies without a will?
File a claim against the decedent's estate. If the mortgage was recorded in the land records it must be paid before the property can be sold.
Is a land loan the same as a mortgage?
No, a land loan is not the same as a mortgage. A land loan is specifically for purchasing land without any structures on it, while a mortgage is a loan used to purchase a property with a building or home on it.
What does it mean that the mortgage company released the lien on your property?
It means that the lender recorded a notice in the land records that the mortgage has been paid. That notice releases the property from the mortgage lien.
What happens to the mortgage loan when bought on a tax deed sale who is responsible or will the bank put a lien on the property?
A mortgage IS a lien on the property. The bank already has an interest in the property that was perfected as soon as the mortgage was recorded in the land records. If you purchase property that is subject to a mortgage, the mortgage must be paid or the bank will take possession of the property by foreclosure.
How can I sell part of my land while still having a mortgage on the property?
To sell part of your land while still having a mortgage on the property, you would need to get approval from your mortgage lender. This typically involves paying off a portion of the mortgage with the proceeds from the land sale or adjusting the terms of the mortgage to reflect the new property boundaries. It's important to consult with your lender and a real estate attorney to navigate this process effectively.
Is a mortgage enforceable if not deeded to buyer?
Answer: A mortgage runs with the land until it is paid. The buyer would acquire the property subject to the mortgage.
Is a land loan considered a mortgage?
Yes, a land loan is considered a type of mortgage because it is a loan that is secured by the property being purchased, similar to a traditional mortgage for a home.
