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In case of default, is the second mortgage lender paid before the first mortgage is satisfied?
In case of default, the first mortgage lender is paid before the second mortgage lender is satisfied.
If you are sent a zero ballance letter from you mortgage company stating your loan is closed can they default on it without notice?
Confused. If the loan is paid off - hence 0 balance...then it can't said to be in default...there is nothing due. (and you are the only one that can be in default, not the lender). If it was charged or written off, then it is in default and still due. The letter is not saying there is a 0 balance.
Do you have to declare bankruptcy if you default on your mortgage?
No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.
If i default on my mortgage can the lender take other assets?
YES.
What is Interest rate on mortgage?
It will depend on the lender and the risk of default.
After how many missded payments does a lender foreclose?
In most cases a lender will file a notace of default after 3 missed payments.
Does and outstanding credit card loan that hasn't been paid ruin your chance of co signing for a car loan?
If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.
Can your car be repossessed if your insurance incorrectly told the lender your policy had been cancelled?
IF the ins. co. told the lender the policy was canceled, then you were in DEFAULT and the lender will repo.The lender and the ins. co. will have to get that straightened out.
Can a co-signer have a negative entry removed from a credit report if the lender failed to notify him that the primary borrower was in default of the loan agreement?
No. There is no legal obligation for the lender to notify the cosigner that the primary borrower is in default.
Can the lender keep personal belongings in a repossessed car such as CDs?
No that's called stealing.....
Can spouse refinance home in his name only?
All the owners of the property must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.All the owners of the property must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.All the owners of the property must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.All the owners of the property must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure.
What is lenders return?
Lender's return refers to the profit or interest income that a lender earns from providing a loan to a borrower. It typically includes the interest rate charged on the loan, which compensates the lender for the risk of default and the opportunity cost of using that capital elsewhere. This return may also encompass fees associated with the loan, such as origination fees or prepayment penalties. Overall, lender's return is a key metric in assessing the profitability of lending activities.
