South Carolina Foreclosures Legal Questions

Yes, the new bank certainly can foreclose on your home. As long as the assignments and the sale of the mortgage from one company to another are correct, which they usually are unless there is a securitization issue, then the new holder of the mortgage and note can foreclose on you. If you're in the process of being foreclosed upon that means that you had missed some payments, this would've definitely hurt your credit. The fact of having work and new job, is not an automatic acceptance of a refinance. The banks are in business to make money, so they will certainly want all the payments that you had missed and all the penalties that accrued because of missing those payments. It's hard to tell if a bank is going to go all the way through with a foreclosure or if they just want you to catch up as soon as possible, usually is this depends on the amount of the mortgage and the value of the home. Usually in foreclosure sales the bank does not receive the full amount for the mortgage and may work out a deal with you, but if your home has a lot of equity in it and the bank will most likely recoup all of their money at a foreclosure sale, this will be the fastest way of making money and this would usually be the route that they would take. This does not mean that you cannot save your home, there are numerous ways to prevent a foreclosure and get back on track the best way to do this would be to seek the advice of an experienced attorney in your area. 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

This is the same story all over the country, you are not dealing with anything out of the ordinary. I have some clients that have file bankruptcy, surrender the home in the bank has taken 3 to 4 years to foreclose even after that point. I have other client that a ban foreclosure for six years. Essentially if the bank doesn't think it's going to make a lot of money on your home in a short period of time, it will attempt to foreclose on other properties at all make it more profit in the short term. And as of that happening the debt on your house keeps increasing, so do all the fines and penalties. The simply keep adding up. Essentially unless you file for bankruptcy, the deficiency between what you owe on the mortgage and what your house can be sold for at a foreclosure auction will be so high that you'll have no other choice but to file bankruptcy. If you want to just move on with your life, you could simply file a chapter 7 bankruptcy, surrender the house and live in it until they foreclose and you move on. That way you won't over the debt you won't be able to have to deal with the IRS billing you for the difference between the sale price of the home in the actual amount still remaining on the mortgage. Once in this situation bankruptcy is highly advised and should be done prior to foreclosure, not after. 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 answer will always depend on if you have a lease with the landlord or if you are a tenant at will. If you have a lease and the home is foreclosed upon, the new owner will still have to abide by the lease, especially if you took the time to record the lease in the registry of deeds or what ever registering office your particular state employs for deeds, mortgages and other documents pertaining to the title of land. If you have a month-to-month tenancy at will, then the new owners may proceed with an eviction once they are on title, as it is their right. You never have the case to file a lawsuit against a property owner who was being foreclosed upon for moving expenses or "annoyance", as your tenancy rights are not directly affected by who owns the property at one time, but instead it depends on the tenancy you have and if you have a lease or not.   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://www.newenglandforeclosuredefenseattorneys.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147... Read Answer

You need to see if the creditor requested a deficiency award for monies not recovered. Sometimes, a lender will not try for anything other than a return of the property. You need to obtain the services of an attorney to determine what happened in the foreclosure. Since you have a foreclosure on your record, filing bankruptcy may be an option if you do owe a deficiency on the mortgage. I would also not be surprised if you told me that you have other, unpaid bills from that time period.... Read Answer

Your name is still on the deed you have, but that does not mean you are still the owner of record. The usual procedure is that the property is offered at a foreclosure sale and the buyer receives and records a deed from the trustee. If no third party buys the property, the bank receives the trustee's deed and now owns the property. There could be dozens of deeds (including yours) in the chain of title, but only the latest one is effective. You should call a title company and ask them to prepare a title report for you. That is the only way you can know for sure who the current title holder (owner) is.... Read Answer

Even though you moved out of the house, it is still your house. It is customary for lenders to change locks etc so that house is protected as much as possible. This does not mean that you cannot go into your own property. Until the sale of the property occurs at the Courthouse when the foreclosure is competed or you sign a deed to the lender, the property remains yours. You could move back in if you wanted to do so. You should contact the lender to regain access to the house if you want to get into it for any reason. If the lender does not cooperate, you can go in with a locksmith and change the lock so you can get in. Be sure to confirm that you still have legal ownership of the property. You should contact an attorney who can check out the situation regarding the title and advise you of your rights at this time.... Read Answer

Your question is not clear. Did your mother die? If so, did she leave a will? If so, who is named as the executor? Your aunt? Who did the will leave your mother's property to? If there was no will and no surviving spouse, then you and your surviving siblings, if any, should inherit all of your mom's property. Whether or not there is a will, you will have to file a probate proceeding in the Superior Court. You really need to contact a probate attorney immediately to protect your rights.... Read Answer

There is not enough information to answer this question. If the 25% got a court order, weren't the other owners served with the lawsuit. They are necessary parties to a lawsuit, and should have had an opportunity to defend. Also, if the house is free and clear why would it be auctioned? Please contact me with more information.... Read Answer