What If One Dies Before Receiving The Check for A Mortgage Reconversion
After death of the holder in due course the payment will go to any immediate heirs - one who has a Power of Attorney (POA) is able to accept.
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Who Sends The Mortgage Note Reconversion Check
The service provider for the loan sends the check, but not before recording it with the county as proof of the note being terminated. We will then receive the check and make payment from the dispersed funds to all relevant parties via Cashier's Check ...
What If The Debtor Dies Before One Can Collect On A Judgment Lien
If the judgement debtor dies before one can collect on a judgment, the judgment is typically considered ‘uncollectable’ except in cases where the debtor had considerable assets and the judgment is more than a $5,000, then one may want to try ...
Will The Promissory Note Reconversion Process Affect Our Current Loan
The promissory note(s) will be taken off the market and therefore extinguished. In short, one will obtain a satisfaction of the note when the money is received. This reconversion process for old promissory notes will not affect current-standing ...
Which Is Better - A Wire Transfer, Zelle, Check or Cashier's Check
It doesn't matter. We prefer checks when possible, but even if by wire, Zelle or PayPal - the phrase "Redeemed in Lawful Money" entered into the notes covers these transfers into a bank account. If by check or Cashier’s Check, one may redeem in ...
Mortgage Insurance (MI) + Private Mortgage Insurance (PMI) vs Mortgage Protection Insurance (MPI) + Mortgage Insurance Protection (MIP)
Both Mortgage Insurance (MI) and Private Mortgage Insurance (PMI) are a type of mortgage insurance one might be required to pay for with a conventional mortgage, which only protects the lender should the borrower stop making payments on the loan. ...