20
votes
In a divorce, in the case of a refinance, who pays for the refinance?
The person who bears the refinancing costs would be determined by mutual agreement in a separation agreement, or would be determined by a court in a decree in its discretion, which is extraordinarily ...
- 230k
15
votes
Accepted
Am I obligated to pay a mortgage if a region is annexed?
The law applicable to immovables is the law of the situs (lex rei sitae), i.e. the law of the country where the immovable property is located. This is important because this law changed after the ...
10
votes
Am I obligated to pay a mortgage if a region is annexed?
The outcome would come down to a case by case basis resolution.
For example, the American Revolution was not held to invalidate private debts owed to British debtors (indeed, the U.S. Constitution ...
- 230k
9
votes
Are there any Social Security loopholes I can use to justify my inability to pay rent to my parents?
If I said that I wasn't paying, my SSI could be cut
If you are telling SSI that you are paying rent so they give you more money, and you aren't paying rent, that's fraud.
If you're filling out the ...
- 7,233
9
votes
Accepted
What happens to an AST tenant when their landlord defaults on his mortgage?
See Brindley Twist Tafft & James LLP, "Focus on the Mortgage Repossession (Protection of Tenants Act etc.) 2010 [sic]".
If the tenancy was an authorized tenancy under the terms of the ...
- 65.8k
8
votes
Are there successful ways of getting out of a reverse mortgage?
I assume that the loan was legal, in light of rule changes pertaining to non-borrowing spouses. If so, there is really no recourse other than to repay the loan. This article explains the current ...
- 216k
7
votes
Accepted
Can the lender of a collateralised loan take more than the collateral upon default?
I'm pretty sure the bank could go after the owner for any difference
between the unpaid loan balance and what they're able to sell it for.
Incorrect. The news report states "it ceased making ...
- 230k
4
votes
Accepted
What happens to the mortgage on property which has been 'Adversely possessed'
The mortgage is part of the title on the land
new-south-wales
First, a mortgage is a right given to a mortgagee to seize and sell the land if obligations under another contract are not fulfilled. ...
- 219k
4
votes
Does buying property on mortgage gives any sort of protection against future Compulsory purchase & massive devaluation
Could you insure yourself either given the fact that- you bought the
property on mortgage?
A mortgage does not generally have the legal effect of insurance. You owe the debt to the lender, which is ...
- 230k
4
votes
If my mothers house is refinanced under my name can I evict her husband?
In the US, a house Title determines ownership, the name on the mortgage determines who owes the bank money. But a new mortgage will need the title holder to be on the document, because you cannot use ...
- 7,445
4
votes
Accepted
Selling a house providing the financing yourself for the buyer
Jurisdiction: england-and-walesnorthern-ireland
The relevant legislation here is the Financial Services and Markets Act 2000 together with subordinate legislation passed under that Act.
Financial ...
- 9,316
3
votes
Could government legally temporatiliy halt rent/mortgage/interest payments for the benefit of the greater economy?
It depends on the applicable state laws granting emergency powers. The most recent decree in Washington State suspends garnishments and post-judgment interest. The governor was given broad powers by ...
- 216k
3
votes
Accepted
Letting out a Joint Mortgage House
The mortgage is not relevant in the way you think it is
What matters is who owns the property. The owner(s) of the property must agree with the tenant (or, more likely here, boarder) on the terms. ...
- 219k
3
votes
Accepted
UK: If brother acts as guarantor on mortgage, is he no longer classed as first time buyer?
According to https://www.moneyadviceservice.org.uk/blog/stamp-duty-for-first-time-buyers-your-questions-answered:
To be classified as a first-time buyer you must never have owned a residential ...
3
votes
I bought a house with my mother she is not paying her half of the mortgage
Between your mother and you the bank does not care where the payments come from. If they do not get them, they can sue you, or your mother or (most likely) both of you and they will chase whichever of ...
- 219k
3
votes
My co-borrower wants her name removed from a 5 year mortgage contract
I can't help with the relationship issues: here are the legal issues.
She legally owns 5% of the house and you own 95%
I presume that the loan agreement is a contract between you, her and the lender ...
- 219k
2
votes
Is a mortgage lender liable for missed tax credits?
It is likely that you could sue, both for a refund of the fee charged and for the economic harm caused by not getting the credit.
At face value, this is a case of negligence or professional ...
- 230k
2
votes
Would anything prevent a mortgage fixed to a property, portable between people in the UK?
A little looking around, for example, here, seem to indicate that the mortgage products currently on offer in the U.K. are primarily and in principle, at least, a matter of banking custom and practice ...
- 230k
2
votes
Can I purchase my parents home over time as a way to free up some cash for them
There is no reason in principle you should not sign a contract saying that, for example, every year you will pay them £x, and in return another 2% of the house becomes yours. You will, however, ...
- 4,630
2
votes
Accepted
Are there any Social Security loopholes I can use to justify my inability to pay rent to my parents?
It appears from the SSA website that a different benefit amount applies to people who live on their own or contribute to the household versus folks who get free or subsidized housing. From https://www....
- 819
2
votes
Could government legally temporatiliy halt rent/mortgage/interest payments for the benefit of the greater economy?
The government? Yes
Which part of the government depends on exisiting law.
If a provision of an existing law grants the executive the power to do so than this can be done by executive order. If ...
- 219k
2
votes
Am I a "first-time buyer"?
Since the OP mentions the UK, I assume the question refers to the UK government-sponsored "help to buy" scheme. See https://www.helptobuy.gov.uk/.
The FAQ gives a summary of the definition ...
- 447
2
votes
What rights and remedies does the buyer have under the following circumstances of a failed contract?
No tort has been committed
This is a straight up breach of contract.
I also don’t understand how this happened - settlement on land usually involves the mortgage holder to taking payment in full and ...
- 219k
2
votes
Assuming a mortgage in a divorce
Without addressing the specific facts of the question, here are some general principles.
While a transfer of real estate upon divorce does not trigger a due on sale clause (which would trigger a ...
- 230k
2
votes
Is mortgage protection spam (snail mail) legal?
The CAN SPAM Act regulates email. It sounds like you are describing a physical letter. Companies are generally allowed to send all the commercial solicitations they'd like via physical mail. Since ...
- 3,256
1
vote
Mortgage broker took out life insurance without approval by client (UK law)
First, apply Hanlon’s Razor
Never attribute to malice that which can be adequately explained by stupidity
It’s quite likely that the broker’s recollection of the meeting is very different from your ...
- 219k
1
vote
Are there advantages to forgiving a mortgage
I don't think it would be significantly more difficult for her to sell her house if you die than if you don't. She would have to pay the mortgage [to your heirs in case you die] which she is already ...
- 1,176
1
vote
Fee waiver form with ambiguous 'or' in list of terms
The word "or" means "or", not "and", that is, if there is a condition "A, B or C" then the condition is satisfied if any one of A, B or C is true (selected, done). If the requirement is that there ...
- 216k
1
vote
How to document mortgage payment arrangement with my partner?
The 50/50 split will be relevant but probably not a deciding factor if a divorce court ends up dividing your assets.
If you want the division of your property to be subject to an agreement you made ...
- 61.4k
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