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Under what circumstances will a debt be considered secured by property?
A debt is considered secured by property when the borrower pledges an asset, such as a house or car, as collateral for the loan. If the borrower fails to repay the debt, the lender can take possession of the property to recover the amount owed.
What if you signed mortgage but not promissory note?
If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.
Will you be imprisoned if you can't pay your credit card debt?
In most countries, being in debt (or rather being unable to repay debt) is not a crime, you cannot be arrested or imprisoned for it.
What type of debt is a mortgage?
A mortgage is a type of debt that is used to finance the purchase of a home or property.
Are property taxes included in the debt to income ratio calculation?
Yes, property taxes are typically included in the debt-to-income ratio calculation. This ratio is used by lenders to assess a borrower's ability to manage their monthly debt payments, including property taxes, in relation to their income.
Is caused when a landowner is unable to pay the debt on property?
forcloser
What is caused when a landowner is unable to pay the debt on a property?
Foreclosure
What is caused when a land owner is unable to pay the dedt on property?
When a landowner is unable to pay the debt on their property, it can lead to foreclosure. This legal process allows the lender to take possession of the property to recover the owed amount. In some cases, the property may be sold at auction to satisfy the debt, potentially resulting in the loss of the owner's investment and home. Additionally, foreclosure can negatively impact the owner's credit score and financial future.
A person who is unable to pay his debt?
bankrupt
What is Fiscal Crisis?
unable to repay ones debt
Can residential property be levied to pay debt?
Yes residential property can be levied to pay back a debt. It is common for a bank to put a levy on a property.
What usually happens to sharecroppers who did not make enough money for their crops to pay expenses?
Sharecroppers who did not make enough money to pay their expenses would often fall into debt to the landowner or merchant. They could end up trapped in a cycle of debt and poverty, unable to break free or own their own land. In some cases, they might be forced to leave the land and seek work elsewhere.
What is the Statute of limitation on real estate debt?
If the debt is on real property, there is no limit. The debt is a lien against the property and the debtor collects on sale. A lien is valid as long as the property exists, and land seldom disappears.
What two events caused the English debt to increase?
Name two events that caused the English debt to increase?
How do you remove lean from property house?
To remove lean from a property house, you typically need to pay off the debt that caused the lean or negotiate a settlement with the lienholder. Once the debt is resolved, obtain a lien release document from the creditor and file it with your local property records office to formally clear the lean from your property title. It may also be beneficial to consult a real estate attorney for guidance throughout the process.
Under what circumstances will a debt be considered secured by property?
A debt is considered secured by property when the borrower pledges an asset, such as a house or car, as collateral for the loan. If the borrower fails to repay the debt, the lender can take possession of the property to recover the amount owed.
Why were many African Americans farmers caught in a condition of debt peonage?
They did not have enough money to pay for supplies from the company store.
