0
Do you have to take over the mortgage if your spouse dies and it is in their name only and you are unable to afford the payments?
Wiki User
∙ 14y ago
You will inherit an interest in the real property owned by your husband and his estate needs to be probated. You need to consult with an attorney who specializes in probate who can review your situation and determine what your options are.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
What does mortgage protection usually cover?
"Mortgage protection covers your mortgage payments if you are unable to pay. Loss of work, injury or illness are some of the reasons homeowners can't pay their mortgage. Payments generally last up to 12 months."
What is financial barrier?
A financial barrier is where someone is unable to afford to access something because they are unable to make the payments needed to pay for it.
What are sale proceeds?
If you are not behind on your mortgage payments, most likely we will not be able to begin the Short Sale process. We never advise a homeowner to stop making payments. If you are current on your mortgage but are unable to make your payments anymore, contact your lender. This would be a good time to proceed with a Loan Modification. If you do, however, become behind on your mortgage payments, we can assist www. disappearingmortgage . com you at that time.
Can you self repo your car?
Yes, you can self repo your car if you can no longer afford your car and is financially unable to pay the payments for your car.
What can happen to a person who receives a property through right of survivorship and can't afford to pay the mortgage?
If the person is unable to pay, the bank can foreclose.
How can anyone afford to pay back a chapter 13 the payments are outrageous?
All chapter 13 payments are scrutinized for ability to pay. If the plan payments were outrageous, it is highly unlikely that the court would approve a plan that a debtor would be unable to pay.
Can you do a loan modification if you are not working?
In order to get a loan modification you need to have a job. Lenders will have difficulty agreeing to any kind of reduction in your mortgage if you are unable to make payments.
How can mortgage payment protection insurance help you?
Mortgage payment protection insurance can help a person if they become unable to make the mortgage payments due to an accident, unemployment, or sickness. There are restrictions in place, so one must check carefully before signing on the dotted line.
What happens if you lose your job after filing Chapter 13 with a wife who works a mortgage and two car notes in Ga?
If you are unable to make the mortgage payments, you will lose the house to foreclosure- there is nothing you can do at that point. The only option would be to convert to a chapter 7 to discharge any other non-mortgage debt. If you want to keep the cars (or any secured debt for that matter) you will need to KEEP making those payments.
What happens to your credit when the car is returned because neither party can pay the note?
It's noted on your credit score that you were unable to make payments/late payments. It just looks very bad. Avoid taking out a car loan on a car you can't afford.
What is the definition of foreclosure?
A situation in which a homeowner is unable to make principal and/or interest payments on his or her mortgage, so the lender, be it a bank or building society, can seize and sell the property as stipulated in the terms of the mortgage contract. A foreclosure happens when someone who has made a loan with a bank can't pay their loans anymore. The bank will then sell the lenders stuff, such as their house, as compensation.
Is it legal for a spouse to abandon their mate financially and leave them in uninhabitable rental house when they are ill and unable to work.?
It can be, if the spouse left their spouse with no money or someone to look after them, it can be. They would have to go to court.
