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If your name was ever added to the title after the mortgage was granted then you will be named in the foreclosure to fulfill the obligation to give notice to all interested parties.
If your name was ever added to the title after the mortgage was granted then you will be named in the foreclosure to fulfill the obligation to give notice to all interested parties.
If your name was ever added to the title after the mortgage was granted then you will be named in the foreclosure to fulfill the obligation to give notice to all interested parties.
If your name was ever added to the title after the mortgage was granted then you will be named in the foreclosure to fulfill the obligation to give notice to all interested parties.
What else can I help you with?
Can a mortgage company report a foreclosure?
Yes. A foreclosure can be reported by the entity that foreclosed, by the servicing agent for the entity that owned the mortgage when it was foreclosed or by a mortgage company if it held the mortgage when it was foreclosed.
Does federal national mortgage association buy foreclosed homes?
yes
Can 2nd mortgage collect after auction?
No. Once the first mortgage or deed of trust is foreclosed, the second mortgage and any inferior liens are voided.
What happens to second mortgage if first mortgage is foreclosed?
If the first mortgage is foreclosed the second mortgage lien gets wiped off the property by the foreclosure so the property can be sold free and clear of the second mortgage. However, the mortgagor still owes the debt to the lender and the lender can pursue collection of the amount due by a civil lawsuit.
When a second mortgage is in foreclosure does the first mortgage show as a foreclosure?
No, they are two separate loans. If the second mortgage is foreclosed the lender takes possession of the property subject to the first mortgage. The borrower no longer owns the property.
Can a mortgage company report a foreclosure?
Yes. A foreclosure can be reported by the entity that foreclosed, by the servicing agent for the entity that owned the mortgage when it was foreclosed or by a mortgage company if it held the mortgage when it was foreclosed.
Can a house be foreclosed on if one name is on the mortgage and someone else s name is on the deed to the land or parcel?
That depends on whose name was on the deed when the mortgage was executed.
What can a lender do when the second mortgage is not paid in full due to foreclosure?
Assuming that the FIRST mortgage was foreclosed, a foreclosure wipes out any mortgages that were recorded after the foreclosed mortgage.
Will your spouse's credit score be affected if your individually owned property is foreclosed spouse's name is not on the deed?
Your spouse's credit score should not be affected if he/she is not on the deed or on the mortgage that was foreclosed.
What do you do when your home is being foreclosed upon?
Either attempt to renegotiate the terms of your mortgage with your lender or file for bankruptcy.
Can a bank forclouse on a house with a irrevocable living trust?
The bank does not care who holds the mortgage. If the loan is not being paid, it can be foreclosed on.
What to do if your name is the thrid name on a time share deed that was foreclosed on?
All three owners are equally responsible for paying the mortgage and the foreclosure will affect all owners equally. You can avoid foreclosure by paying the mortgage.
If house is foreclosed do all liens have to be satisfied before title is cleared?
The liens that predate the foreclosed mortgage must be paid such as a prior mortgage. The http://taxes.answers.com and any municipal services liens must be paid. Any mortgages, attachments, etc that were recorded AFTER the foreclosed mortgage get wiped out as liens against the property.
Does federal national mortgage association buy foreclosed homes?
yes
Can 2nd mortgage collect after auction?
No. Once the first mortgage or deed of trust is foreclosed, the second mortgage and any inferior liens are voided.
What happens to second mortgage if first mortgage is foreclosed?
If the first mortgage is foreclosed the second mortgage lien gets wiped off the property by the foreclosure so the property can be sold free and clear of the second mortgage. However, the mortgagor still owes the debt to the lender and the lender can pursue collection of the amount due by a civil lawsuit.
What risk is inherent in second mortgage loans?
the main risk is that the first mortgage will not be paid. if the first mortgage is not paid, goes into default, and is foreclosed, the second mortgage will be determined in the foreclosure sale.
