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When you find a house and it is a sheriff sale and a survivor-ship deed was on this house does that mean there is still a mortgage to pay off?
A survivorship deed has nothing to do with whether there is a mortgage on a property sold by a sheriff's deed.
A sheriff's deed conveys only what interest the debtor owned in the property. The debtor may have no interest in the property. It may be subject to a mortgage or the debtor may have only owned a half-interest. There may be other liens. In fact, language recited in a sheriff's deed generally declares that the sheriff does not certify the debtor had any interest in the property only that IF the debtor did own any interest in the property it is conveyed by the deed. That means a buyer needs to do a comprehensive title examination performed by a professional to disclose the legal status of the property. You should contact an attorney who specializes in real estate to represent you if you are interested in purchasing the property.
What else can I help you with?
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.
Your house has bee sold at a sheriff sale the proceeds of the sale covered the first mortgage Are you still required to pay the second mortgage?
The second mortgagee can indeed go after you for payment.
Can you demolish a house that still has a mortgage on it?
Yes, a house with a mortgage can be demolished, but the mortgage would still need to be paid off even if the house is destroyed.
Do you still owe the house when you enter to reverse mortgage?
You still own the house if you have a reverse mortgage, yes.
House was repossess can you still get a mortgage?
it is quite unlikely that you will be able to get a mortgage lender with that history.
Can you put a house with a mortgage in a trust?
Yes. There are almost no obstacles if you still own and live in the house after.
Do you still have to pay back your mortgage if your house for sale?
Of course. Until you pay off the mortgage loan, you have to pay payments on the home.
Can I apply for a mortgage with a pre-approved for house loan?
Yes, you can apply for a mortgage with a pre-approval for a house loan. The pre-approval shows that you are likely to qualify for a mortgage based on your financial information, but you will still need to go through the formal mortgage application process with a lender.
Who has to leave the house when a legal separation is taking place and who is responsible for paying the mortgage?
You can be separated and still live in the same house. No one has to move.The mortgage payment is made by the person whos name is on the mortgage. If it is in both names you are both responsible.
Husband-and-wife buy a house together the wife's name is not put on the deed until the second mortgage but the second mortgage is now paid off do we still share the deed of trust?
If a husband and wife buy a house together and the wife's name is not put on the deed until the second mortgage, yes, the deed is still shared after the second mortgage is paid off.
Lisa's house was appraised at $115000. She still owes $42000 on her mortgage loan. How much equity does Lisa have in her house?
73000
Lisa and house was appraised at 115000. She still owes 42000 on her mortgage loan. How much equity does Lisa have in her house?
$73,000
