Foreclosures Legal Questions

The bank has no automatic right of the seizure of any assets for the deficiency in a foreclosure sale of a home. This does not mean that they cannot go to court and obtain a court order to seize assets in conjunction with the deficiency of a foreclosure sale, but it is not automatic. Once you have reached the stage of a foreclosure sale and you realize that there will be a deficiency, as most are, one of the best choices is considering filing a chapter 7 bankruptcy. The reason for this is the banks can come back after you for the deficiency payment or which is most likely, they will send the deficiency to the IRS as a loss for them, but the IRS will consider this as income for you. This can be extremely dangerous, if your home is sold for let's say $100,000 less than the mortgage, that will be applied to your tax return of that year as you received income equal to the amount of the deficiency payment. Basically if the house had a mortgage for 200,000 and it sold for 100,000, your deficiency payments would be 100,000 and the IRS would consider this income of $100,000 which you would have to pay income taxes on. 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://massachusettslawyeronline.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 More

Dear homeowner, You have a few options.  You can reinstate your loan by paying the arrearage, but you will lose that right after five days before the foreclosure sale date.  Your safest bet, however, is to file for bankruptcy protection.  Bankruptcy protections provide for an automatic stay against creditors from foreclosing on your property. I would advise seeking help from an attorney so that your automatic stay does not become compromised. Mitch Abdallah... Read More

The answer to this question really has nothing to do with foreclosure, oh lawyers, attorneys, or mortgage companies. If you are legally obligated on a debt to a company, professional or a person, they can take you to court and get a judgment against you in place a lien against your income or your bank account or property you may own. The fact that this revolves around foreclosure, there are no special rules for foreclosure, so the same recourse is there for anyone that you owe money for. And usually the only way to get away from it legally would be to file either a chapter 7 bankruptcy or a chapter 13 bankruptcy. 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 More

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 More

As far as your wife signing the documents, that would depend on the laws of your state. In Massachusetts a spouse must always sign the mortgage, right to cancel, settlement statement, in truth in lending. This does not mean that the spouses obligated to pay, unless they also signed the NOTE. As far as your options go, you can attempt to refinance, attempt to get a mortgage modification or use a chapter 13 bankruptcy and use the bankruptcy process to get a mortgage modification under the supervision of the bankruptcy court. 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 More

Essentially this means you can pay back the entire mortgage, due to the acceleration clause in almost every mortgage or you could possibly have the opportunity to simply pay back the delinquent payments you have on your mortgage that you have not made. Usually if you need to pay off the entire mortgage when you received that letter, but you might want to consult with your bank. Essentially if you do not pay off the mortgage within 30 days then a sheriff sale will proceed by the laws of your state. You can simply Google foreclosure laws in your own state and you will find with the process will be. You may want to consider hiring a foreclosure defense lawyer to really look at the matter to see if you have any affirmative defenses to your case. 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 More

Contact me, I can give you all the information you want.   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 More

You may have much better options than you think. It is possible to quit claim the property and you wouldn't pay anything to the bank, but you may have ways to make money in the process instead of just walking away. Consultations are free, and can be done over the telephone, but details on your situation I believe requires additional knowledge about your foreclosure case status, additional liens that may be in place and what value the property has.... Read More

I will attempt to answer your questions one at a time. Yes a homeowners association can foreclose on you for HOA fees even if you have a first and second mortgage. The HOA will have to pay off both your mortgages before they collect on the debt of the lien. Chapter 7 bankruptcy remove its obligations to pay, but it does not remove the lien from the property. So basically even though you no longer have to pay the debt, if you choose to stay in your home you will need to pay the lien off or they can foreclose on your property. Bankruptcy remove the financial obligations to pay a debt but it will not remove the security interest on a piece of property. Although if you had a bankruptcy lawyer handle your chapter 7 bankruptcy filing, he should of filed a motion to avoid lien, this cost extra money but it could have remove the lien from the HOA. Once your bankruptcy is over and you receive a discharge they can go after you for the lien that they placed before the bankruptcy. You may be able to reopen your chapter 7 bankruptcy and have an attorney file a motion to avoid lean. If you are up to date on your first and second mortgage and can make all future HOA payments this and probably be your best bet.   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 More

You should not allow your house to be sold at foreclosure. You should file for chapter 7 bankruptcy and discharge the debt and remain in the house until the foreclosure sale and depending eviction that will occur afterwards. If you do not discharge the mortgage in a chapter 7 bankruptcy, the bank can come after you for the difference between what you owe on the mortgage and how much the house sold for at foreclosure. If they do not come after you they will give this amount to the IRS will tax you in that calendar year as if you actually made that money that year. Basically if the mortgage is 200,000 in the house is sold for 100,000, the IRS will tax you as if you made $100,000 for that 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 More

Yes if a homeowners Association that you owe your Association dues to chooses they may foreclose on your home after they have a valid lien recorded against your property. You may file bankruptcy to remove the obligation to pay the dues, but this will not remove the security interest they have and they will still attempt and most likely succeed in a foreclosure proceeding on those dues. 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 More

No, most cases for adverse possession are not successful. There are very strict guidelines for taking someone else's property, and a home is not actually property if the dwelling located on top of property. Another issue is the fact that you're only 18 years old, adverse possession does not come into play until after 20 years. 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 More

You certainly do not want to wait your home to be foreclosed to file for bankruptcy. There are several reasons but the most important of which is they will come after you for the remaining balance on the mortgage that is not received from the foreclosure sale. Or worse they will write off the remaining balance and send it to the IRS as income. The IRS considers this as a 1099 form of income. So if there is a difference of $100,000 between the sale price and the amount owed on the mortgage you may have to pay the IRS on that money as if you earned $100,000 in that year. Furthermore if you file prior to foreclosure that stops the foreclosure and you can continue to rent the property until it is actually foreclosed upon, and the tenants as long as they have a lease with you should be protected from being evicted by the new owners, depending on the laws of your 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 More

Typically,  like most pro-se litigants, your motion is either improper or simply a bad motion. Courts dont grant motions just because the otherside no shows. The motion has to be proper and adequately supported to be granted. Losing an undefended motion is a sure sign you need to hire an attorney to help you.... Read More

The only way to get someone off a mortgage would be to either repay the mortgage or to refinance without the person's name on it. You cannot simply take someone's name off a mortgage until it is paid off or refinanced. It is also important to bring up the fact that even if the name was taken off the mortgage it would not be taken off the deed. Depending on which state you live in even if your spouse is not making payments, the house will still be happy affairs regardless on if they paid 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://fallriverbankruptcyattorney.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147... Read More