How long does a bank have to hold a repossessed mortgage before they can sell it?

Answer State laws govern banks. Borrowers must be given a chance to "cure the default" on a mortgage before property can be repossessed, and notice to foreclose must be delivered and officially recorded. ... Read More »

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If you have disability insurance on your car loan can your bank repossess and sell your car if they knew you were disabled before the car was repossessed and sold?

It depends upon the plan that your employer maintains.Frequently, benefits are on a sliding scale, such as 75% for the first month, 60% for the next month, and 40% thereafter until the benefit expi... Read More »

How long do you have to sell when a reverse mortgage ends?

You do not have to sell your home if you outlive the loan agreement for a reverse mortgage. Provided you keep the taxes and insurance current, you may continue to live there as long as you want.Ref... Read More »

How long does it take a bank to decide a mortgage loan?

While the initial mortgage loan preapproval takes one to two business days, full approval for a mortgage takes between three and six weeks. The variance in time depends on the number of loans the l... Read More »

Does a bank have to accept a mortgage?

A bank does not have to accept your application for a mortgage. Banks have their own process for determining whether you are a creditworthy borrower, which includes looking at your credit score, em... Read More »