Foreclosures Legal Questions

There is none that you can file. You need to retain a lawyer to even think about doing this properly. For example, you reflect that the property "reverted" back to you which is a techinical term that is the opposite of foreclosure and incidates that your legal knowlegde base is likely inadequate to prosecte such a claim successfully.... Read Answer

Yes, they can foreclose. At the time of the refinance you were not married, it was not your homestead property, and your name was not on the deed. Yes, your interest in the property has existed since before the refinance, but you cannot claim that your interest is now superior to the mortgage because you never recorded the title to let them know you had an interest. If you recorded the deed timely, you would have either had to sign the mortgage too or they never would have given the mortgage. The law protects the bank in this situation because of your failure to notify them of your interest (by recording the deed).... Read Answer

If you are asking such questions at this late stage of the litigation process, it should be clear that you are well over your head and that its virtually impossible for any lawyer to provide you advice that would help you. For example, your determination that a magistrate is preferable for your case may be completely out in left field in the eyes of a competent trial lawyer. If you REALLY expect to achieve anything in defending a litigation case, other than abject delay, you really should have had legal counsel retained from the onset. If you any questions please call our office at 1-800-922-6442 for a FREE consultation.... Read Answer

First of all you need to list the house at a price that it will sell for, not the price you need to buy another house. The simple fact is you need to deal with the foreclosure and deal with the as soon as possible. If they start moving on foreclosure proceedings you may always file a chapter 7 bankruptcy, which will stop the foreclosure proceedings and usually give you about six months to a year before the bank forecloses. You do not want the bank to foreclose simply because you wanted to make money off the sale of your house. What you do not want is the house foreclosed upon before you file bankruptcy, because any amount that is owed that did not cover your mortgage will be placed as income for that calendar year on your IRS taxes. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://fallriverbankruptcyattorney.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147 #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob... Read Answer

You probably exempted your property as homestead; thereby, removing it from the bankruptcy estate and since the mortgage is secured by the property it survives the bankruptcy. You could possibly argue that there could be no deficiency judgment against you because of the bankruptcy but the same rule may apply.... Read Answer

Many real estate agents attempt to give legal advice, I feel because they spend so much time around attorneys. The simple fact is your real estate agent is completely wrong. Local bank cannot make up their own rules, they are governed by the same rules that the large banks are governed by. Mortgages are governed by federal law and small banks cannot make up their own rules. With that being said I'm sorry to inform you that the passing of your wife will have no bearing on stopping your foreclosure. There are two things you can do to stop the foreclosure and give you enough time to sell your house. The best method would be to use a chapter 13 bankruptcy, the problem with this is if you can't make your normal monthly payments you most likely will not be able to make your normal monthly payments and the additional payments due in the repayment plan. If this occurs simply have your attorney file to convert your chapter 13 to a chapter 7 bankruptcy. Chapter 7 bankruptcy will discharge your debt and also give you the breathing room to sell your home. If your home does not sell, you can simply walk away from it and you will not suffer any of the tax ramifications of your home being sold at a foreclosure sale and owing the bank the delinquency between the mortgage and sale price. If you mathematically cannot make your mortgage payments and your certain you will be foreclosed upon, either chapter 13 bankruptcy or chapter 7 bankruptcy will be the best chance you have in staying on a foreclosure and not facing the IRS tax ramifications of the delinquency between your mortgage and the sale price of your home. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://fallriverbankruptcyattorney.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147 #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob... Read Answer

What you need to do is file for chapter 7 bankruptcy as soon as possible. Even if you file just the basic documents, you will have time to complete the entire petition later, although it's only a few days. A chapter 7 bankruptcy will do two things your situation. First of all the automatic stay will stop your bank from foreclosing on your property and give you enough time to sell your house. Even after your bankruptcy has been discharged, the bank does not usually stop foreclosure proceedings right afterwards. This allow you to have enough time to complete a sale of your home. Simply because you file bankruptcy on your home, does not automatically give it to the bank. They still have to go through all the foreclosure proceedings to take your home. There should be more than enough time to get the home sold, and pay the bank off even after bankruptcy. Even though the debt is discharged, you will still need to pay the bank from the sale of the property, since they have a security interest in the property. The second important thing a chapter 7 bankruptcy will do for you in this situation is to not make you liable for any deficiency between the sale price and the mortgage still on the property. If you do not file bankruptcy before the foreclosure, the bank does not need to go after you for the delinquency, they can simply report as a loss to the IRS. The problem with this is if they reported to the IRS as a loss on their and the IRS will charge you as income for the calendar year of the foreclosure. Meaning if your house has a mortgage for $200,000 and the bank sells it at foreclosure sale for $100,000, you have delinquency of $100,000. If the bank reports this as a loss, the IRS will consider you made $100,000 in that calendar year in you will be forced to pay the taxes as if you made an extra $100,000 over your usual income. I suggest you file chapter 7 bankruptcy as soon as possible, it must be filed before the actual sale takes place. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://fallriverbankruptcyattorney.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147 #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob... Read Answer

Chapter 7 will never help you with a secured debt such as a car loan or mortgage, if you are behind on payments. The only thing in chapter 7 can do is wipe out the debt, but you will need to give back the collateral that secures the payment such as a car or the home. What you would need to do is file a chapter 13 bankruptcy. Chapter 13 bankruptcy stops all repossession or foreclosure proceedings and allows you to resume making your monthly payments, while establishing a repayment plan that will allow you to repay what you owe over a three to five-year period. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://fallriverbankruptcyattorney.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147 #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob... Read Answer

In these cases my lower office would file a federal complaint with HUD (U.S. Department of Housing and Urban Development). We can file these complaints in any state in the country, due to the fact that they are federal in nature. There is a simple free questionnaire to evaluate if the loan was in fact predatory in nature and violating federal law. There are other methods to fight such cases, depending on your state law. In Massachusetts we also can fight if the mortgage was securitized in a pooling trust. There are many different ways of fighting foreclosure, but many of them vary from state to state. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://fallriverbankruptcyattorney.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147 #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob... Read Answer

In FL, if you buy in a judicial foreclosure sale where the bank/mortgage is foreclosing on a defaulted mortgage, the mortgage does not become the responsibility of the new owner.  The mortgage company gets paid through the proceeds of the sale, which is usually why the mortgage company will bid at the auction up to what is owed to them (the judgment).  This doesn’t happen every time, but quite often. If the bank/mortgage company can't get what its owed through the auction or later sale, it can go after the person that took out the mortgage through a separate action for deficiency.   Keep in mind that even though a foreclosure sale where the mortgage was in default doesn’t pass on to the new owner, that doesn’t mean there won’t be other encumbrances against the property like HOA/COA liens, etc.  Also, you should know whether the foreclosure sale is from a bank (default in the mortgage) or from a HOA/COA lien foreclosure where assessments weren’t paid.  If you are buying in that type of foreclosure sale then you may have a situation where a mortgage remains on the property and can foreclose.  Before investing, do your homework – these can be very risky.... Read Answer

Senior lien holders may make a claim, however you may file a claim for the funds and after a hearing the judge will determine to whom the funds are owed. You may want to contact an attorney to assist you to recover funds which may be available to you if you are not familiar or comfortable with the process.... Read Answer

In Florida, a mortgage foreclosure action will not automatically result in a deficiency judgment. In other words, just because you lose property in foreclosure does not mean you will remain personally liable for money owed to the lender. To obtain a deficiency judgment against the borrower after the foreclosure sale, the mortgage lender must file a motion for a deficiency and allege the property’s value and the amount of the deficiency. The homeowner can defend the motion and can contest the lender’s valuation. If the homeowner files a defense the court must hold a separate hearing on the lender’s request for deficiency liability. At a hearing on a motion for deficiency judgment, the mortgage lender has to show the court evidence that the property’s value on the sale date was less than balance owed on the note. Evidence of value requires the lender to produce an expert value witness. However, the homeowner/borrower can base her/his own value upon his/her own appraisal, or, use the local government’s tax assessed value as evidence of value. The borrower can bring to the hearing his own valuation expert. If the court finds that the foreclosed property was worth more than note balance on sale date the court will not give the mortgage lender a deficiency judgment against the borrower.  A 2013 Florida statute gives the mortgage lender one year to file a motion for deficiency. Under the old law a lender could file a new and separate claim for deficiency up to five years after the foreclosure sale date.  ... Read Answer

There is simply no way for a lawyer to answer such a question here. If your case has become that complicated, and you dont know how to address such an issue, its a clear sign that you really need to retain a lawyer to help you address the issue properly. If you have further questions, feel free to contact us at 1-800-922-6442 for a FREE consultation.... Read Answer

Usually these matters are handled within the divorce decree, in the section usually listed separation of assets. All you need to do is have a lawyer draft up a deed transferring your ex-husband's interest in the title of the property in question to yourself. You can't take them off the mortgage, but you can take him off the deed. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://fallriverbankruptcyattorney.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147... Read Answer

The simple answer is yes, an HOA does have the right to file foreclosure on properties for dues that are in arrears. The best way to fix this situation is to pay the home owner Association dues. Bankruptcy, either chapter 7 or chapter 13 will help the situation. The reason for this is that they are foreclosing on the liens placed on the property, not on the debt. The only chance that you would have this to file a chapter 7 bankruptcy and file a motion to avoid lien, if this motion is accepted by the bankruptcy court judge then the debt associated with the homeowners Association and the liens that they were foreclose on would be null and void. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://fallriverbankruptcyattorney.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147 #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob... Read Answer