Loans

Both are equally responsible for debts accumulated during the marraige. That includes your credit cards, her credit cards, mortgage, vehicle, personal loans, etc. * No. NY is not a community marital property state (it is a TBE state). Therefore all separately owned property and separately incurred debt belongs to the person named on the deed, title and/or lending contract.

This is where having an estate would be a big help. The estate essentially represents your husband. Yes, you are going to be able to sell the house, subject to the mortgage, of course. Whether you have to use the estate or not to do so, the bank will tell you. Consult a probate attorney and they will help you out.

If the borrower gets too far behind, the home will be foreclosed on. There are a lot of variables and considerations for this type of situation.

1. There can be significant financial expenses to the borrower.

2. The Borrowers credit will be hit hard.

3. The borrower may never be able to get another government loan and may no longer qualify for other government programs.

Encourage the borrower to sell the home before the foreclosure happens.

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Your note is paid in full and you have not received the title? Call the lender and ask them if it has been mailed yet. It should be mailed or given when you made the last payment, but, as we know people only worry about things that matter to them.

Absolutely. And you can't give a deed in lieu to anyone other than the mortgage lender anyway. (A "deed in lieu of foreclosure" pretty much has to go to the one that is or could foreclose....no one else!) You give them the deed to the property that is secured by the mortgage (not a deed in lieu on a mortgage...which doesn't exist in any way). You can't give - or sell - the deed on the property without the mortgage lien and debt going along (and only then if the mortgage cos approve of the new one responsible for the mortgage anyway). Now of course to the court, these wildly crazy acts are going to look like you planned or attempted to play games and defraud the creditors - which if they don't want to have it pursued criminally (which is highly possible) at the very least will not put you in a good light with the ones in charge of your case. You really need to get expert help before you dig a bigger hole.

When u have not paid to loan payment for last 3-4 months or you just stop paying altogether

In Australia yes, There are strict requirements before a lender can sell under power of mortgagee. I would assume this would be similar in the US In Australia yes, There are strict requirements before a lender can sell under power of mortgagee. I would assume this would be similar in the US

There is no reason to repay a loan after a discharged bankruptcy, if you have done so, you can reclaim all your money from the creditor (you'll have to go through court).

In general, one cannot get an auto loan without a driver's license (that loan will have been acquired fraudulently according to most auto loan contracts).

A person can, however, co-sign someone else's loan without having posession of a driver's license.

Bars aren't the most private places to meet. All your friends and his are there, the music could be loud, drinking stuns the brain, conversation is short, eyeballs are peeled for "that someone special" and the beat goes on. I suggest that you ask him to go to a quiet place for a drink or out to a movie. Get to know each other on a more personal basis. You never really see the true personality of anyone in a bar. Good luck Marcy

When someone co-signs, they are basically just agreeing to making the payments when the signer can not. * Any legal rights that a cosigner or a co-buyer(borrower) have depend upon whether or not their name is on the title to the vehicle.

When each interest calculation uses the initial amount, this is called Simple Interest. The other type is Compound Interest, which uses the current balance as the basis for interest calculation.

If the owner has filed bankruptcy the property cannot be sold. It is in the legal possession of the trustee in bankruptcy who cannot sell any property without the permission of the court. You can contact the court for the name and contact information of the trustee and direct any questions you may have to the trustee.

You don't file bankruptcy "on" anything. You file for bankruptcy for all debts, including a mortgage or mortgages. If the other party has been paying the mortgage and has possession of the premises, there may not be a problem for that person.

If there is a divorce order requiring the absent party to pay or pay part of the mortgage, there may be a contempt action for violating that court order.

It is 750*1.04*1.5 = 1170.

The cosigner has the same legal obligations to repay the debt as does the primary borrower. If the primary borrower defaults, the lender can begin proceedings to collect the full amount owed plus applicable fees from the cosigner. A cosigner can be sued just as can the primary borrower. And if the primary borrower claims bankrutpcy, the cosigner will still get "stuck" with the debt. The credit report of the cosigner will be equally affected, either in a positive or negative way, depending upon the circumstances.

Generally, the title examination isn't ordered until there has been mortgage commitment. The reason is that people (buyers) don't want to pay for a title examination if the mortgage isn't approved. However, some lenders give a preliminary commitment that depends on the title being free of defects. In that case they want the title report a couple of weeks before the closing is scheduled.

A savings institution typically refers to either a Savings and Loan or a Savings Bank. Both Savings Banks and Savings and Loans are thrifts, whose primary federal regulator will be the OTS (Office of Thrift Supervision). In addition, any insured institution would be additionally regulated by the FDIC. Most, if not all states now require, by state law, that any institution operating as either a bank or a thrift be covered by FDIC insurance. Ohio is an example of such a state. The main difference between thrifts and banks is their primary purpose. Thrifts typically have been focused on residential lending and promoting "home ownership." To qualify as a thrift, an institution must maintain a large concentration of lending in loans secured by residential real estate. Banks, in contrast, are generally more focused in commercial lending to help finance business and other ventures. Banks are also more involved in unsecured lending or lending which is secured by items other than real estate (i.e. Inventory Loans or Credit Cards).

Though, historically, there was a difference in the types of products that banks and savings and loans could offer to the public, many of these differences have been modified over the years to the point that most services, at least conceptually, can be offered by either a bank or a thrift. Banks and thrifts, however, remain under the supervision of different regulatory bodies. "Government" FDIC insurance covers money in your savings, checking, or money market checking account for the amount of up to $100,000. The FDIC is technically not part of the governmental system, but one of those long arm beaureacratic long legs. Deposit insurance coverage is based on a variety of factors including how an account is titled and the type of account. For instance, retirement accounts held in an IRA are insured for a greater value than a non-retirement deposit account. Additionally, by altering the ownership of an account, it is possible for individual or multiple depositors to have coverage beyond $100,000. Finally, it should be noted that insurance is calculated "per depositor" and not "per account." Therefore, a depositor may risk having uninsured deposits if the total amount deposited at a given institution is above the threshold amount.

Generally no, if the lender carries on their business properly. When you grant a mortgage you are granting the lender a security interest in your property. Anyone with an ownership interest in a property must sign the mortgage document.
The purpose underlying the execution of a mortgage by all the owners is that in the case of a default, the lender can take possession of the property and sell it. If two people own the property and only one signed the mortgage the lender has received only a half interest in the property. It cannot foreclose and take possession of the property because one of the owners did not transfer their interest to the lender. There are certain cases where people may become confused and that is when the property owners do not all sign the note.

If two people own the property they must both sign the mortgage. In certain cases only one will sign the note and thereby be solely responsible for paying the loan. The co-owner who didn't sign the note is not responsible for paying the debt. However, if there is a default, the lender can take possession of the property by foreclosure because the co-owner who didn't sign the note did sign the mortgage giving the lender full power of foreclosure.A responsible lender will insist that ALL owners sign the mortgage.

There are lenders who break the rules in order to sell the loan. Those are only interested in collecting the high fees and costs associated with the initial transaction. They aren't concerned with good title if the borrower defaults since the loans are sold soon after the transaction.

Yes, they do. There are a few minor conditions, but any home loan agency or bank can use the VA to 'guarantee' a home loan.

The mortgage specialist not providing the loan information is not grounds for breaking the contract as the contract is with the seller and not the lender. Find a different lender if you are going to continue w/the loan, or if you want to break the contract you will probably lose any money you have put down as security.

Unless you want to ruin your credit you don't. You taske your lumps and pay off the loan.

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