My mother-in-laws two sons living in her home are heroin users, she has applied for a reverse mortgage, if her house is confiscated by the federal government, who pays off this loan to the finance company?
2006-06-27 19:46:42 · 5 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
Your mother-in-law will be sued by the mortgage company for the amount of the loan. She'll be paying it off for the rest of her life even though she no longer has the house.
Her best bet would be to evict the two drug users. She'll have to go through the legal eviction process with the courts, but it could save her home.
2006-06-28 05:15:23 · answer #1 · answered by Mama Pastafarian 7 · 1⤊ 0⤋
They auction the house after 30 days. If there is a difference high or low, the govt takes the loss.
2006-06-27 19:52:42 · answer #2 · answered by Joy W 2 · 0⤊ 0⤋
she does ,, DO NOT co-sign for her loan. the bank will resell her house for what they can get ,she will have to make up the differents in the amount.. if you did co-sign for her ,call the bank before she gets the money and ask to be taken off the loan. you can be made to pay her share of the loan..
2006-06-27 19:56:19 · answer #3 · answered by alleykhad607 5 · 0⤊ 0⤋
a number of that is kept for evidence for trials.some is used to capture drug sellers and that relax is taken to tremendous furnaces to be burned(destroyed)even as it really is done that is at a secret area,which signifies that the final public does no longer comprehend even as that is being transported or the position it will be destroyed.
2016-10-13 21:56:25 · answer #4 · answered by ? 4 · 0⤊ 0⤋
I thinkt he government needs to pay off the loan or they will sell it.
2006-06-27 19:51:13 · answer #5 · answered by 2feEThigh 5 · 0⤊ 0⤋