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If you own two homes can you foreclose on one and the bank not take the new one your living in?
Wiki User
∙ 16y ago
The bank will only take the home they foreclose.
Wiki User
∙ 16y ago
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What is foregone interest?
If you take out a Mortgage and decided not to make payments, It is the interest that they should have collected during the time it took for them to foreclose and dispose of the property. It is truly a cost to the bank. Say the bank pays somebody 5% on a Certificate of deposit. They turn around and loan the money to you at 6%. When you don't pay they still have to pay the interest on the CD.
What was expected of women according the concept of separate sphere?
To take no interest in activities outside their homes
What does a bank do when they get two different appraisal values?
they take the lowest value.
Where can you take pennies?
Pennies can be rolled and taken to the bank to be exchanged for higher denomination cash. As long as the total is of equal value the bank will be happy to take the pennies off your hands. Coin rolls can be bought at any stationary or office supply store.
Can you take a gold 100 dollar bill to the bank and get change?
In the US there are no gold dollar bills.
Can a bank foreclose if you dont pay on a second mortgage?
Yes. The bank could foreclose and take possession of the property subject to the first mortgage.
How long does it take the bank to foreclose a property when owner dies in California?
2yers later
If you own 2 homes and you foreclose on 1 can they take both homes?
Foreclosure only affects the item listed on the contract, in this case house 1. This does not mean that the bank/lending company cannot file a lawsuit to recoup the losses associated with your foreclosed home from house 2.
If a husband dies will a wife be responsible for the mortgage debt even if she is not on the note?
His estate will be responsible for the mortgage. Assuming the wife is not on the deed, if the mortgage isn't paid the bank will foreclose and take possession of the property covered by the mortgage. If the wife is on the deed and she consented to the mortgage the bank can foreclose. If she is on the deed and did not consent to the mortgage then the bank had a defective title and may not be able to foreclose.
When you do not include your house in a bankruptcy and then get a loan modification but still cannot pay the monthly payment can the bank take your house if you pay something on it every month?
Yes, if you are not making payments on your home, the bank can foreclose. Even if you are paying something, if you are not paying the amount agreed to in the loan modification or original contract, the bank can foreclose. If bankruptcy is active, they may need permission from the court but if payments are not being made in a timely fashion the court generally grants permission to foreclose. The moral of the story - make your payments or the bank can foreclose!
If we have a Joint mortgage one dies no insurance can lender foreclose?
If two people granted the mortgage and one dies the other is responsible for paying the debt. If the debt is not paid the bank can foreclose and take possession of the property.
Can home owners associations foreclose on homes in Florida?
Yes. Read your governing documents to understand when and why the association might be forced to take this final step.
What happens if you can't pay your second mortgage?
The lender can foreclose and take possession of your property subject to the first mortgage.The lender can foreclose and take possession of your property subject to the first mortgage.The lender can foreclose and take possession of your property subject to the first mortgage.The lender can foreclose and take possession of your property subject to the first mortgage.
Can a bank take furniture and TV etc in a home foreclose?
in order for the bank to remove your personal property from your home the foreclosure must have taken place and you must being legally evicted first.
Can the Mortgage be in your name and deed be in both your names not married?
All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.
If a mortgagor who is not on the title or deed is in default can the bank foreclose on the property?
If the mortgagor owned the property when they granted a mortgage to the bank then the bank has an interest even if the mortgagor conveyed their interest by a quitclaim deed. In that case the grantee would take title subject to the mortgage. If the mortgage isn't paid the bank can take possession of the property.
If Mortgage note is in one persons name and the deed to property is in another can mortgage company foreclose and take both house and land?
Yes. ==Clarification== The mortgage company can only foreclose if the OWNER of the real estate signed the mortgage. If someone other than the owner signed the mortgage the bank has no interest in the property and therefore cannot foreclose.
