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If a Joint Tenant has the mortgage in his name and the other joint tenant defaults on his home equity loans what are the legal ramifications to the mortgage holder?
This sounds like a real mess. It sounds like two joint tenants own a piece of property in common with one having the mortgage in his name. The other joint tenant has a piece of property that has a home equity loan about to go into default. In one state the joint tenant with the home equity in default would lose that piece of property. It would not affect the piece of property he or she owned with a different person.
How can joint mortgages with parents be utilized to purchase a home?
Joint mortgages with parents can be used to purchase a home by allowing both the parents and their child to combine their incomes and credit scores to qualify for a larger loan amount. This can help the child afford a home that they may not be able to purchase on their own.
Where can one obtain a tenant loan?
There are only a couple of websites online where you can obtain a tenant loan but there are many that informs you on what a tenant loan is. The best site to check would be Loans For The Unemployed if you want to apply for a tenant loan.
Can child support garnish a joint personal loan?
Yes to the extent that the loan becomes an asset (bank account, etc.).
What happen if a parent dies and they gave the house to there child and took a loan on there home for repairs what happen to the balance of the loan?
the child continue to pay the loan of her his parents
What exactly are tenant loans?
Tenant loans are unsecured loan for people with bad credit or no credit. There are different kinds of tenant loans, private tenant loans, bad credit tenant loans.
What is leasehold mortgage?
A leasehold mortgage is an encumbrance on a tenant's interest in a lease conveyed to a lender as collateral for a loan to the tenant.
What happens to home equity line of credit at death?
The loan will come due in full immediately if it is not a joint loan. If there is another person at the home, say a wife of a deceased husband who had the line in his name alone, they will have to be approved for a loan of their own. You cannot have a loan on property that was approved with another persons income/credit score.
Can you explain how a joint mortgage works?
A joint mortgage is a home loan taken out by two or more people, typically partners or family members. All parties are equally responsible for repaying the loan, and the property serves as collateral. This arrangement allows multiple individuals to share the financial responsibility and benefits of owning a home together.
Can you get a home loan and rent the home to your child?
Of course! You'd want to write up a legal contract/lease first.
Can a child get a loan?
No a child cannot get a loan. You need to be 18 years old to legally get a loan.
Can a judgment for auto deficency loan be assessed on my joint saving accounts or my home if the car was repoed from the owner with me as her co-signer.?
Absolutely.
