QUESTION

What can I do if my mother's home is in foreclosure and the lending company won't accept partial payments?

Asked on Jan 05th, 2013 on Foreclosures - Wisconsin
More details to this question:
At the time my mother passed away, a person was allowed into her house. This person refused to leave and literally took over my mother's estate. The Sheriff refused to remove them since they immediately started receiving mail there. It became a "civil matter." Since we were not able to get in the house (we were told if we wouldn't stay with them we'd have to leave only with what we came with), we had no idea about her finances, who to contact, who to pay, nothing. It took me six months to have these people evicted. During that time, they used her card, cashed her check, allowed her car to be repossed, destroyed her home and literally stole every single thing out of the house. The Post Office would not stop the mail until I went through court for legal personal representation even though I am her only child. We are still trying to put pressure on the Sheriff to make it a criminal case since it was deemed "civil."In the meantime, the house has gone into foreclosure and the lending company says that since it is there, they are unwilling to accept any partial payments. It must be payment in full. Over 20k. I have agreed that I would be willing to work with the payments being made into the note, but, they won't budge. It is set for foreclosure in a couple of months and they are calling me all of the time to "see what I am going to do."From the moment I found out who they were, I immediately started trying to work with them. But, because I was not on the loan, they would not give me the information and I've been paid thousands of dollars in attorney's fees for eviction only to find out it is in foreclosure. Please give this family some direction. I never dreamed this was possible in this country.
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5 ANSWERS

Richard hirsh
You present a difficult situation. There are a few alternatives. I assume that you have inherited the property as a result of your mother's death. If other factors are appropriate, you could file a chapter 13 bankruptcy and use that as a means to cure the mortgage arrears. You do not indicate whether you plan on moving into the property or plan on selling it or using it as a rental property. Those are critical issues. the value of the home and the mortgage balance are also critical. You might also consider hiring counsel and litigating the foreclosure as a means of obtaining a settlement with the mortgage company. Of course you also would appear to have many civil claims against these persons who defrauded you. And, you could try and file criminal charges, although that does not appear to be too viable at this time.
Answered on Jan 09th, 2013 at 12:28 PM

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Tax Problem Resolution Attorney serving Lake Oswego, OR at THE WUHRMAN LAW FIRM
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A Chapter 13 bankruptcy would stop the foreclosure cold and allow you up to 5 years to repay the past-due amounts. It should not be a problem that you're not on the loan, because the Real Estate Settlement Procedures Act prohibits calling the loan due upon transfer from a parent to a child. I don't know if Chapter 13 bankruptcy is otherwise good for you - you should talk to a lawyer in your area.
Answered on Jan 09th, 2013 at 12:27 PM

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Chapter 13 Bankruptcy Attorney serving Winston-Salem, NC at Love and Dillenbeck Law
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You need to speak to a bankruptcy attorney to see if a Chapter 13 is possible. Alternatively, send the mortgage company proof that you are the personal representative of the estate and they should start giving you information.
Answered on Jan 09th, 2013 at 12:27 PM

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Do you have any equity in the property? If yes, then there is plenty that you can do.
Answered on Jan 09th, 2013 at 12:26 PM

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Child Custody Attorney serving Milwaukee, WI at Zales Law Office
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I hear stories like yours every day. I see them in my practice. You are in a tough spot. Did you file an Answer to the foreclosure complaint? If not, you could try and file an Answer and get into the case. That would buy you time and put pressure on the bank to settle. I'm disappointed your previous attorney did not do what was best for you. That was not right. Bankruptcy would stop the foreclosure action but you may not want to do that.
Answered on Jan 09th, 2013 at 12:25 PM

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