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Does the cosigner on a mortgage need to be on the purchase and sale so the seller is aware of a cosigner?
Wiki User
∙ 18y ago
That is an issue between the mortgage company, the buyer and the cosigner. The seller's only worry is selling the property and getting paid.
Wiki User
∙ 18y ago
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Does the cosigner need to appear on the pre approval letter and purchase and sale so the seller is aware of cosigner?
no, but to be sure ask your lawyer. In most jurisdictions that I know of mortgage details do not have to be disclosed to the seller.
Does the cosigner need to appear on the pre approval and purchase and sale so the seller is aware of a cosigner?
Call Fidelity Title, Chicago Title etc. In the state you are in and ask to talk to an escrow officer. They will be able to answer your question depending on the laws of your state.
Is California a non recourse debt state?
California is a non recourse state for your first mortgage. Be aware any form of second mortgage you will still be liable for.You may also be liable on the first mortgage if you have refinanced your original purchase mortgage.
I have a buyer for a home advertised on the multiple listing service. After entering escrow with the seller we find that there was a a third mortgage that the title company failed to record.?
The 3rd mortgage should be promptly recorded so that it can be properly discharged of record for closing. The 3rd mortgage should have no bearing on the sale, since the Seller was aware of all the mortgages they have against the property and should have set the price of the property high enough to pay off all 3 mortgages against the property. You just need to make sure that the mortgage is properly recorded and properly discharged of record at closing.
Does LLBean sell thermal socks?
LL Bean sells vintage thermal socks and you can find them in such places as ebay.com and amazon.com. The cost can vary greatly depending on the shipping and the seller, the condition of the item, and more. Be aware of any seller's negative feedback before you make a purchase.
Does a quitclaim deed exempt you from the mortgage responsibilty?
Absolutely not. You may not be legally responsible for paying the mortgage but if it isn't paid the lender will take the property. If you purchase property that is subject to a mortgage by virtue of a quitclaim deed you should be aware of the following:The property remains subject to the mortgage until it is paid off and a discharge is recorded in the land records.Most mortgages contain a due on transfer clause that allows the bank to require immediate payment of the balance in full if the property is transferred.If the mortgage isn't paid the lender will take possession of the property by foreclosure and you will lose any purchase price you paid over to the seller.You should not purchase real property unless you are represented by legal counsel. Otherwise you have no idea what you are getting yourself into. You could be buying a lot of trouble.Absolutely not. You may not be legally responsible for paying the mortgage but if it isn't paid the lender will take the property. If you purchase property that is subject to a mortgage by virtue of a quitclaim deed you should be aware of the following: The property remains subject to the mortgage until it is paid off and a discharge is recorded in the land records.Most mortgages contain a due on transfer clause that allows the bank to require immediate payment of the balance in full if the property is transferred.If the mortgage isn't paid the lender will take possession of the property by foreclosure and you will lose any purchase price you paid over to the seller.You should not purchase real property unless you are represented by legal counsel. Otherwise you have no idea what you are getting yourself into. You could be buying a lot of trouble.Absolutely not. You may not be legally responsible for paying the mortgage but if it isn't paid the lender will take the property. If you purchase property that is subject to a mortgage by virtue of a quitclaim deed you should be aware of the following: The property remains subject to the mortgage until it is paid off and a discharge is recorded in the land records.Most mortgages contain a due on transfer clause that allows the bank to require immediate payment of the balance in full if the property is transferred.If the mortgage isn't paid the lender will take possession of the property by foreclosure and you will lose any purchase price you paid over to the seller.You should not purchase real property unless you are represented by legal counsel. Otherwise you have no idea what you are getting yourself into. You could be buying a lot of trouble.Absolutely not. You may not be legally responsible for paying the mortgage but if it isn't paid the lender will take the property. If you purchase property that is subject to a mortgage by virtue of a quitclaim deed you should be aware of the following: The property remains subject to the mortgage until it is paid off and a discharge is recorded in the land records.Most mortgages contain a due on transfer clause that allows the bank to require immediate payment of the balance in full if the property is transferred.If the mortgage isn't paid the lender will take possession of the property by foreclosure and you will lose any purchase price you paid over to the seller.You should not purchase real property unless you are represented by legal counsel. Otherwise you have no idea what you are getting yourself into. You could be buying a lot of trouble.
Can I Cosign for a mortgage loan?
Yes. However, you should be fully aware that if the primary borrower does not pay you will be responsible for paying the mortgage. You have no other rights in the property.
Can you use a personal line of credit for closing costs down and fees to purchase a home?
I used my line of credit for legal fees and partially for downpayment but the bank that I got my mortgage from was not aware of it as my line of credit was with a different financial institution
What is the role of buyer?
The major role of buyer is to make the seller aware about his needs and wants And what are his expectation from the product.
What is the buyer's role?
The major role of buyer is to make the seller aware about his needs and wants And what are his expectation from the product.
If there is a satisfaction that satisfies priority mortgage is the junior mortgage automatically satisfied?
Should be if they ran a title search & are aware it is there. the 2d must be satisfied upon transfer or sale.
How do Mortgage Modifications work?
A mortgage modification can help you out by reducing your monthly payment. However, you will have a longer period of time before you pay the whole thing off, so be aware of that.
