California Foreclosures Legal Questions

Are you sure he had a will? There is no requirement that wills be filed or recorded with any government agency, so there is no way to search public records for the information. So you can only search the husband's home, office, or other place where he might have kept records. You should also inquire of any banks, attorney's, accountants, tax advisors or other financial professionals with whom he may have had contact. If the will can't be found, your sister can administer the estate by filing a probate proceeding in the Superior Court stating that the husband died intestate (without a will). If there are no other claims on the estate, the court distributes the husband's property to the surviving spouse.... Read More

The genders seem confusing in your question your daughter is mentioned and then a 'he' a few times. What the debtor discharged in bankruptcy was her (his?) personal obligation to pay the mortgage note, not the mortgage itself. Since you are apparently still liable on the mortgage, and the lender is willing to refinance, it sounds like a good idea to explore that possibility further. You need not lose the home.... Read More

Foreclosure process can be quite lengthy with many letters and court documents sent and exchanged between the bank and the debtor. The best line of defense is to keep an open communication with the lender about your unemployment. From your question it is not clear what type of motion this is and how long you have lived in the home after stopping mortgage payments. The best suggestion is to contact an attorney in your area and for a small fee find our where you are in the process, have the lawyer review your legal papers and see if your lawyer can negotiate any sort of settlement or alternative arrangement with your lender. Banks are very willing to work with lawyers in these matters.... Read More

Under California law, a foreclosure must be commenced by recording and serving on the property owner of a Notice of Default. If the default is not cured within 90 days, the lender must then record and serve a Notice of Trustees Sale. I have heard stories of homes that were sold at a trustee's sale without any prior notice. If the lender failed to strictly follow the statutory rules for notice, the homeowner can file a lawsuit for wrongful foreclosure and regain title to the property. You will definitely need an attorney for this. Please take steps immediately or you may lose your rights.... Read More

Having a foreclosure on your credit report can seriously hurt your chances of getting a new home mortgage or even other types of credit, including personal loans and credit cards. Credit Bureaus have a right to report foreclosure information that is accurate and has not reached its reporting expiration date. But you can have old foreclosures, and foreclosures that are not yours, removed from your report.... Read More

The bank does not have to pay you to relocate. If you did not have a lease or were a month-to-month tenant, you must receive at least 90 days notice to vacate. If you have a lease, you are permitted to remain in the home for the duration of the lease, unless the person(s) who buy the property intend to live in the property, in which case 90 days notice must be given. In some cases, the bank or the new property owner may make a monetary offer to entice you to leave the property sooner, but it is not a requirement.... Read More

If the sale is closed, the lender surely is required to release its mortgage and therefore cannot take back the property or continue foreclosure. Remember you are buying the property from the owner not the bank the bank is agreeing to accept less than the full amount and must agree to release its mortgage. Make sure you have a good real estate attorney and a good title insurance company.... Read More

*Regarding the tax implications*: it depends on whether the loan was purchase money or not; if yes, you don't recognize income for the short sale; otherwise, you do. *Regarding letting the property go to sale*: Yes, your credit was marred by the bankruptcy filing, but having a foreclosure on your record will be far more damaging to it; you should try to avoid a foreclosure at all costs. *... Read More