If you have not notified your mortgagee
of your girlfriend's occupation then you are in breach of your mortgage conditions.
As noted earlier, a mortgage foreclosure is an equitable remedy in which a mortgagee
seeks equitable relief from the court to foreclose the interest of the mortgagor and all subordinate interests to allow the mortgagee
to acquire title to its collateral and pursue a claim for deficiency if one exists.
While it is true that a mortgagee
in possession is sometimes characterized as a fiduciary vis-a-vis the mortgagor and others junior interests, (104) virtually all other mortgagees
have an interest that is lawfully antagonistic to those parties.
The following shows that Banco de Lupa is not a mortgagee
in good faith: (a) that Land Bank processed Manny's loan application upon his presentation of the title, which was still under the name of Barbie; and (b) The bank even ignored the fact that the cooperative previously used Barbie's title as collateral in its loan account with it.
In Caulkett, the debtors and their amici reiterated in briefs and oral argument that lien survival incentivizes second mortgagees
to act as spoiler in short sale, loan modification, and other settlement matters between mortgagors and first mortgagees
It appears that the Property Law considers registered mortgages as execution deeds, but requires mortgagees
to enforce such deeds through the summary court (and not the execution court).
com)-- NAN News Update instructions FHA Mortgagee
National figures released last week showed action by banks to evict mortgagees
Second, all of the tenant's leasehold mortgagees
should be paid off.
The second mortgage to 4337 Investments Ltd remained unregistered, but the case proceeded on the basis that both mortgages, secured by innocent mortgagees
from the registered (although fraudulent) holder of title, were registered.
The PLA provides that, unless a prior mortgagee
makes a further advance pursuant to written agreement with the subsequent mortgagee
or, alternatively, is committed by the terms of the mortgage to make further advances, the prior mortgagee
will be postponed to the second mortgage if it makes further advances after it has notice of the second mortgage.
The court held that "a mortgagee
must name a personal representative for a deceased mortgagor in a mortgage foreclosure proceeding in order for the circuit court to acquire subject matter jurisdiction.