As long as you keep making your mortgage payments the bank can't foreclose. However, you cannot refinance or sell the property until the lien is paid. If you sell, the net proceeds after paying off the mortgage would go to the lien holder to satisfy that lien.
As long as you keep making your mortgage payments the bank can't foreclose. However, you cannot refinance or sell the property until the lien is paid. If you sell, the net proceeds after paying off the mortgage would go to the lien holder to satisfy that lien.
As long as you keep making your mortgage payments the bank can't foreclose. However, you cannot refinance or sell the property until the lien is paid. If you sell, the net proceeds after paying off the mortgage would go to the lien holder to satisfy that lien.
As long as you keep making your mortgage payments the bank can't foreclose. However, you cannot refinance or sell the property until the lien is paid. If you sell, the net proceeds after paying off the mortgage would go to the lien holder to satisfy that lien.
As long as you keep making your mortgage payments the bank can't foreclose. However, you cannot refinance or sell the property until the lien is paid. If you sell, the net proceeds after paying off the mortgage would go to the lien holder to satisfy that lien.
Yes, if the mortgage is in default.Yes, if the mortgage is in default.Yes, if the mortgage is in default.Yes, if the mortgage is in default.
no, not if it is a 1st mortgage. because of the mortgage tax relief act of 2007
Not if your home is exempt. Check your state's homestead exemption laws. findlaw.com is a great resource. Actually they can forclose without you doing anything.
The Mortgage company can foreclose on your home if you fail to meet the requirements you agreed to in your finance contract. Hazard Insurance on a home is almost always required by the lender under the terms of the contract. Failure to obtain and maintain the required coverage is a default on your loan, much the same as if we miss mortgage payments. The mortgage company would not foreclose because your home is un-insurable. They would foreclose because you failed to purchase the required property insurance. It is up to the homeowner to maintain the home in a condition that it can be insured.
Yes apprently they can as they are doing it to me!
If you foreclose on your 2nd home, it will not affect your primary home. It will actually free up money so you can pay your first mortgage.
You still owe the money to the mortgage provider.
If you have a first mortgage and a home equity mortgage, the home equity mortgage is a second mortgage. If the home equity mortgage is not paid, the lender can foreclose and take possession of the property subject to the first mortgage. The home equity lender can pay off the first mortgage and keep any excess proceeds from a sale.
Yes. Your second mortgage is secured by your home, so if you default on payments, the lender has the right to foreclose.
Yes, Maintaining your Home hazard Insurance Policy is a requirement of your Mortgage Finance Contract or Note. Failure to maintain adequate Property Insurance is a default of your agreement with the mortgage company.
Foreclosure is the legal process whereby a mortgage company takes your home back from you and sells it to recoup the money they loaned to you. if you intend not to foreclose it better file bankruptcy from the experts
The second mortgagee can foreclose and take possession of your property subject to the first mortgage.