Georgia Foreclosures Legal Questions

As of yet I have not heard of any protection for people who have been forced to leave their home or in the process of foreclosure in moved out of their home. I have clients that have been in foreclosure since 2006 and the bank still hasn't foreclosed on the property. This leaves the land owner responsible for property taxes and any utility bills associated with the property. This becomes even a worse problem if their multifamily dwellings and you have people that are living there especially if they are not paying rent. You may want to take some actions to protect yourself such as keeping the property in short or boarding up all the doors and windows so no one can get inside as you will be responsible for anything happen on that property while the property still in your name. 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

When you lose your home in a foreclosure sale or in some states called a Sheriff sale, you become a tenant. Depending on the laws of your state, will determine how long and by what procedure the person who bought your home in the foreclosure sale has to get you out. Generally all you need to do is look up online what the eviction process in your state is and that will tell you how long it will be before you will be forced to leave. The new owner will have to go through the entire eviction process. In some states that only takes a couple weeks and others that takes several months to half a year. 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

Question: What happens when your home goes into foreclosure? Answer: If your house has been foreclosed upon then you no longer own the house. If that is the case, then the new owner, a bank or private owner, will soon be in touch with you to discuss your vacating the property. If you do not voluntarily vacate then an action to evict you from the house may be brought against you. To get you to cooperate, the bank may offer you money to voluntarily hand over the property in good condition. This is sometimes referred to as a" cash for keys" program. If the house has not yet been foreclosed upon, but you have received notice that the bank or other lien holder intends to foreclose on the home, then you have several options. These include, among others: coming current on your mortgage and seeking to have the bank reinstate the mortgage; walking away from the home and letting the bank foreclose; giving the bank a deed in lieu of foreclosure; selling the house and paying off the mortgage or getting short sale approval from the bank in the funds obtained from the sale are not sufficient to cover the mortgage; filing for bankruptcy to get a stay that will temporarily stop the foreclosure which may buy you time to latter reassume the mortgage. You may also qualify for a loan modification program, but you need to be careful because while you are trying to work out a loan modification, often the foreclosure process continues to proceed, and before you can complete the loan modification you may find that the bank has already acted to foreclose on your home. Unfortunately, this has happened to many homeowners. Some of these homeowners may then have an action for wrongful foreclosure depending on the precise circumstances, but it is better to be proactive and not wait until you house is actually foreclosed upon. If you are facing foreclosure, you should seek the assistance of an attorney to discuss which options may be right for you in your particular circumstance.... Read Answer

In Georgia the 2nd can foreclose as long as they follow all the proper foreclosure procedures and notices, but it will have to buy out the interest in the first mortgage before it can proceed.  It becomes a pure economic business decision at that point. This is not legal advice and does not establish and attorney-client relationship.... Read Answer

The second mortgage can legally collect on the mortgage after a foreclosure by the first mortgage.  Here are your options: Do nothing - I do not suggest this, they may eventually sue you for the debt. Pay the full amount of the debt - this would make it go away Settle the debt - you can see if they will accept less than the full amount owed - be careful about the tax consequences associated with this. File for bankruptcy - a second mortgage after a foreclosure is unsecured debt.  Unsecured debt can be discharged in a bankruptcy.  There are many factors that go into whether you would qualify and whether a bankruptcy is the best option for you.   ... Read Answer

If you stop making the mortgage payment, the lender can foreclose.  Mortgage companies tend to be taking longer to foreclose on condos than single family homes.  After the foreclosure, the mortgage that foreclosed (usually the first mortgage) has to file a Confirmation of the foreclosure to collect on any deficiency.  If you have any other liens on the property, they do not have to file a Confirmation to collect.  Many people are better off surrendering their house in a Chapter 7 bankruptcy. ... Read Answer