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What else can I help you with?
What happens when the homeowner dies and has PMI insurance before the mortgage is paid in full?
PMI has absolutely nothing to do with the death of a home owner. There is no benefit to the PMI in this situation. A Mortgage Life Insurance policy would be of great benefit as it would pay off the mortgage on the house at the death of the homeowner.
If owner of a house dies does insurance pays off house?
Only if they had mortgage insurance.
What to do if one owner is not making house payment?
The mortgage payments must be made or the lender will foreclose the mortgage.
Can I leave a mortgage to my daughter in my will?
Yes, if you are the owner of the mortgage or the mortgagee.Yes, if you are the owner of the mortgage or the mortgagee.Yes, if you are the owner of the mortgage or the mortgagee.Yes, if you are the owner of the mortgage or the mortgagee.
What happens to a house with four names on the deed with the right of survivorship but the only person with the mortgage dies?
When a house has four names on the deed with the right of survivorship, the ownership automatically transfers to the surviving owners upon the death of one owner, regardless of the mortgage situation. The mortgage remains attached to the property, and the surviving owners are still responsible for it. The lender may require the surviving owners to refinance the mortgage or take other actions, but the property itself is not affected by the deceased owner's mortgage obligation.
Who is responsible for a mortgage if the owner dies before its paid off and the house is left to her son in a will?
The mortgage should be paid by the remaining estate. If there is not enough cash left to pay off the mortgage, the house can be sold and the mortgage paid at closing, or if the mortgage is assumable, the son may take on the mortgage as his own debt and keep the house.
Your parents died and left you property your name is on the deed but not on the mortgage is that a problem?
It is not a problem, but the mortgage will still have to be paid by the surviving co-owner even if that co-owner did not borrow or get any of the money from the mortgage, because it is a lien on the house.
What happens when you finish paying off your house?
When you finish paying off your house, you become the full owner of the property and no longer owe any money to the lender. This means you have complete ownership and can live in the house without any mortgage payments.
What if there are numerous liens on a house that 1-is damaged to the point of being worth less than the mortgage and 2-the home owner has never made any payments on the mortgage filing bankruptcy?
In addition to the question, I am interested in buying this house and the owner is a relative.
Can a son purchase house from his father?
Yes, a son can purchase a house from his father as long as his father is the owner and there is no outstanding mortgage.
Can a house be placed into a trust if it has a 2nd mortgage on it?
The number of mortgages on a property has no impact on the owner's ability to put the house in a trust.
Can an ex wife place a mortgage lien on the property if she already quitclaimed her interest in the property?
No. Only the owner can grant a mortgage on a property.No. Only the owner can grant a mortgage on a property.No. Only the owner can grant a mortgage on a property.No. Only the owner can grant a mortgage on a property.
