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sat
Guest
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Post subject: credit report |
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| my husband applied for credit and he was told our house was in foreclosure we have been late but its not in foreclosure would your credit report say that |
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adonis
Joined: 22 Oct 2005
Posts: 3852
Location: ALASKA
120.89 Dollars($)
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Post subject: |
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Hi sat,
If you have been late in your mortgage payments, then it would be mentioned in your credit report. However, until the lender forecloses the property, it wouldn't be mentioned in your credit report.
_________________
Procrastination is the enemy of your financial sucess |
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suzanne
Guest
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Post subject: mortgage advice |
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| I am married for just over 2 years I have worked for 13 months of the 2 years of marriage my husband took out a mortgege 10 months ago my name is not on the mortgege and we are now going to divorce can i claim anything from that house or do i get nothing please help thank you |
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adonis
Joined: 22 Oct 2005
Posts: 3852
Location: ALASKA
120.89 Dollars($)
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Post subject: |
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Hi suzanne,
You have mentioned that your name is not on the mortgage. But does your name appear on the property deed? If yes, then you can claim a certain portions of the property. However, I would suggest you to take some legal advice on this issue. |
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ajm1234
Guest
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Post subject: mortgage question |
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| I was on a mortgage with my exwife in 2006. I was removed from that original mortgage and placed only on the deed shortly after. I have checked my credit recently, and all mortgages have been closed on my credit report. I recently checked our public county records and it shows that she is now going into foreclosure and there has been an Assignment of Mortgage. This is also in my name. Does this make sense? To have an Assignment of Mortgage if it's not even showing up on my credit? What should I do? |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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Post subject: |
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Hi ajm,
If your name is not on the mortgage docs, then you will not be liable for the mortgage. The lender will not be able to sue you for the deficient amount. You should contact your lender and clarify the issue.
Thanks |
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needhelp
Guest
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Post subject: |
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| can i quite claim myself off of a deed to avoid a deficiency judgment in the state of florida if the property is already in foreclosure? I am not on the note. |
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helpmeplease
Guest
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Post subject: Foreclosure/Quit Claim |
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| My parents added me to the deed on their house. They also transfered the deed on a piece of land to me. They are doing this so they do not have to do a will in case anything happened to them. My house is currently upside down, the loan will adjust to a higher interest soon I will not be able to afford the payments, and I can not get it refinance. If my lender does not have a workout plan for me and my house gets foreclosed on, can my lender come after my parents house and/or land to collect my unpaid obligations on my foreclosed home? Can I sign a quit claim on the house and transfer back the deed on the land to my parents? Can my lender still come after my parents properties after I signed quit claims? |
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helpmeplease
Guest
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Post subject: Sorry - posted on the wrong forum. |
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| Sorry - posted on the wrong forum. |
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adonis
Joined: 22 Oct 2005
Posts: 3852
Location: ALASKA
120.89 Dollars($)
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Post subject: |
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Welcome Guest,
If the lender forecloses the property, then he has the right to come after your other properties in order to recover the deficient amount resulting from the sale of the property. If your parents have already transferred the property to you, then the lender can place lien on that property.
If you transfer the property to your parents only to save it from your creditors, it will be considered as a fraudulent transfer and you'll be penalized for it.
_________________
Procrastination is the enemy of your financial sucess |
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mary
Guest
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Post subject: quick claim |
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| how long does a quick claim become valid after it is signed |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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Post subject: |
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Hi mary,
A quitclaim deed becomes valid when you notarize and record the deed at the county recorder's office.
Thanks |
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anonymous1028
Guest
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Post subject: Foreclosure |
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| My husband I experienced a foreclosure 2years ago. We understand the foreclosure will affect our credit for 7-10years, but the lender is showing an open debt of $35k, which I'm assuming is the difference of what we originally owed vs what the house was sold for. (It was sold last year). Is it anyway to have the amount not show as open debt? |
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adonis
Joined: 22 Oct 2005
Posts: 3852
Location: ALASKA
120.89 Dollars($)
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Post subject: |
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Hi guest,
You will have to settle the debt with your lender. You can go for some payment plan with your lender so that you can pay off the debt. Once you pay off the debt, the lender will report it as "paid as agreed".
_________________
Procrastination is the enemy of your financial sucess |
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arh concerned
Guest
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Post subject: co owner named on deed |
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| Hi, 16 mo. my mother was unable to make her mortgage due to the death of my brother of which whom my mother cared for. My now ex stepped in to help save the house and my moms credit. He had a verbal agreement with my mom, that he pay the mo. mortgage and assume full responsibilty untill the sale of the house. the deed is in both his and my name. He has now decided that he no longer wants the responsibility of the house. The house is in default and will forclose at the end of this mo. hewil ll |
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