Kathy Salazar

Florida Real Estate

Mortgage Holders

If there is something that involves very important obligations and responsibility almost’s lifetime, it are the Scriptures of mortgage loan. By ignorance or overconfidence about times and neglect others, many people has come to the signature before a notary, in the hands of its director of lifetime (or the management of the Bank), without reading or the binding offer. Sign before a notary does not mean that we signed what is right or what is best for us. The notary public attests to is signed what is signed and that the signers are who they claim to be. It usually does not act as our Advisor; We can ask you questions, but to do this we need to know what to ask, at least. Daniel Taub London UK wanted to know more. Without going any further, there are authentic family dramas because a child is separated from his girlfriend, which was purchased with the support of parents, and have stopped paying the mortgage. When the financial institution initiates the procedure of foreclosure and auction house of the child and the parents, jump all alarms:- but if we sign as guarantors of payroll! exclaim parents.

Sorry, but the the guarantor’s payroll figure does not exist. If it endorses, it guarantees to all heritage, present and future; and without this does not seem you an extraordinary obligation, which knows that its obligations as guarantor are transmitted to his heirs. Let’s see the main legal figures who can one be in a real estate transaction of buying and selling with mortgage financing: guarantor: responds with all their income and heritage, present and future. Mortgager no debtor: offers a real estate collateral, which responds only by the mortgage liability agreed in writing. Holder of the mortgage loan but not housing: there are cases in which one has signed as a holder on the mortgage loan but not so of the housing.

Wed, July 13 2016 » News