Loans

Mother is entering an assisting living facility. They request their form be completed for verification of her retiree monthly benefits. Where may I fax it to gather the information as requested. The completed form will need to be faxed back to the facility itself.

Thank you!

It is my understanding that if both are on the mortgage, you must refinance so that you are both not held liable for the balance. If still on the note the other person would not be able to qualify for another house, car, etc. without that being considered as part of their debt.

It could. Take the son to court before the mortgage co. takes mum to court.

That is decided by the LENDER.

i was able to get an auto loan with the help of a cosigner and im under 18

The only way to "fix it" would be to contact the lender and work out some type of arrangement to refinance or the loan or a method to bring the payments up to date. The vehicle is still subject to repossession under UCC laws as well as the laws of the state in which the vehicle is located. The lender also has the option of filing a civil suit in the state and county where the debtor is now residing to recover the amount owed plus legal fees and other appplicable charges.

both of you you- for loaning your car to an idiot the driver- for choosing to drink and drive

Assuning the two are not married to each other, nothing, other than the lender wanting to make sure the payments are kept up, since they no longer have a fall-back.

You have a serious problem and need to seek the advice of an attorney. If you co-signed the mortgage and the other co-signer refuses to pay then the bank will expect you to pay. You should place the property for sale but you will need the other owner's signature on any agreement and on the deed if a buyer is found. In the meantime, you need to keep up the mortgage payments so your credit won't be destroyed by a default.

In the US, the answer is no.

Iowa is not a community property state, but that does not change the fact that the home is still considered collateral for the loan. In the vast majority of case the mortgage would still be owed by the surviving spouse if he or she wished to keep the property. There have been some very interesting rulings in a few state courts that have allowed the suviving spouse to take over the property "free and clear" regardless of an existing mortgage, because of the state laws concerning marital survivorship rights. A few cases are still on appeal but the others have been declared legally binding in favor of the surviving spouse. This is one reason savvy lenders should always require a married couple to be joint mortgage holders.

yes you do not get penilized for paying debt off early

You need to find a title attorney, take your wife off title, and add your father to title. Most mortgage companies have seasoning requirements of anywhere between 90-days and 12-months. Go through a mortgage broker and tell them the entire situation. They will find a lender with lower seasoning requirements. A broker may be able to educate you more on the mortgage side but very limited with title issues. Ask him or her their lowest seasoning requirements.

SURE!! BUT GOOD LUCK TRYING TO FIND HIM WHEN THE LOAN GOES INTO DEFAULT!

If you are ready to payoff the loan, call the lender. That is because interest has to be recalculated to the day you would pay. Remember to check whether there is a early payoff penalty.

Only if you co signed for them and the child is not repaying them. The divorce has nothing to do with your obligation or lack of obligation. Your child certainly has a moral obligation to pay for loans they took out.

300

Yes.

A promissory note or forbearance agreement may be modified to include provisions that attached assets to the loan as security or collateral.

Bankruptcy is an action that one takes against one's creditors. If there is no creditor, i.e. no mortgage, how is this relevant? Or did someone take out secured credit with the property being used as collateral? Also it depends on the type of deed you have. It could be a joint tenancy or a tenancy in common. I'm assuming this is a tenancy in common, with each person having a 33.33% stake in the property, and with rights of survivorship and rights of occupancy. It depends on your state, country, and the type of bankruptcy, but generally you are allowed to "reaffirm" a debt that is secured against a property. Some property is considered exempt from liquidation if this is for unsecured debt, but the amount of property that a debtor may exempt varies from state to state. Consider buying out their share in the property before the bankruptcy proceedings commence. Maybe your sibling could give you a really good deal on their share of the property, and then you could give them a good deal on selling it back to them later after the bankruptcy proceedings have completed. ;) If there is no current lien against the sibling's share of the property I would recommend asking them to sell you their portion of it. Bankruptcy is an action that one takes against one's creditors. If there is no creditor, i.e. no mortgage, how is this relevant? Or did someone take out secured credit with the property being used as collateral? Also it depends on the type of deed you have. It could be a joint tenancy or a tenancy in common. I'm assuming this is a tenancy in common, with each person having a 33.33% stake in the property, and with rights of survivorship and rights of occupancy. It depends on your state, country, and the type of bankruptcy, but generally you are allowed to "reaffirm" a debt that is secured against a property. Some property is considered exempt from liquidation if this is for unsecured debt, but the amount of property that a debtor may exempt varies from state to state. Consider buying out their share in the property before the bankruptcy proceedings commence. Maybe your sibling could give you a really good deal on their share of the property, and then you could give them a good deal on selling it back to them later after the bankruptcy proceedings have completed. ;) If there is no current lien against the sibling's share of the property I would recommend asking them to sell you their portion of it.

First they must consult with an attorney. The joint tenancy should be broken because if the tenant who has been paying the mortgage and expenses should die suddenly, the one who left would own the property automatically. The attorney can review the situation and discuss your options. Perhaps you could bring an equity complaint asking the court to order the transfer the non-payers interest in the property.

missing word

Yeah, next time try not being such a shotty parent; and thinking just because you pay for your child school means you control them

If you are buying a home, and your boyfriend is living with you, he should be paying you rent, i.e. living expenses. Where you choose to allocate the funds is not important. No money is due, when he moves out. He lived under your roof.

Make absolutely certain that you pay all mortgage payments out of an account that is solely yours alone. You may also want to get another document that recognizes that the home is yours and what will happen should you split later. I have heard of several people having to pay off their ex for the equity in the home that they shared.

A co-signer is fully legally responsible for the debt of the loan if the other person on the loan fails to pay as per the signed loan contract. All rights and responsibilities are in the contract.

who ever's name is on the note. you may have to take them to small claims court.