0
If a home just went into foreclosure and papers were served who would be the one to call for the payoff The mortgage company or the attorney?
Wiki User
∙ 16y ago
The lender will most likely tell you that you need to contact the attorneys for an updated payoff statement. Once the loan is in foreclosure, the attorneys handle most of the little tasks like payoff statements, reinstatement figures, etc. This is because they will have to add their fees to the numbers they quote you.
Of course, it will take them at least a week, in most cases, to generate payoff figures. This is because the bank will have to calculate interest, late fees, and other charges, and then the lawyers will add their fees and court costs on top. So, after the foreclosure lawsuit has been filed, it's the attorneys that will have the most information.
Wiki User
∙ 16y ago
Add your answer:
Earn +20 pts
Can you still do a deed in lieu once foreclosure papers were signed?
Majority of the time it depends on the investor of your loan as well as the company that services the mortgage. Most companies will require that you have deed in lieu paper work submitted a certain amount of time before a foreclosure sale.
Do you have to go in front of the lender to close and sign the final mortgage papers?
Usually you would sign loan papers at a title company or a location handling the change of title.
Are parties entitle to paper work prior to closing mortgage?
we took a reverse mortgage received no paper work the title company sent a man to our house to close he came hours late and we had no time to read anything i was told if i didn't take this loan we would go into foreclosure so what could i do i later found out by law they were to sent papers truth in leanding prior to closing is this correct
What does it mean when owner will carry papers?
When the owner carries the paper that means that the owner will finance the deal. The owner becomes the mortgage company.
Who records a satisfaction of mortgage?
The same local county/parish Registrar or Recorder who recorded the Deed of Trust will record the satisfaction or reconveyance papers. Your mortgage company is responsible for filing the appropriate documentation.
Can you still do a deed in lieu once foreclosure papers were signed?
Majority of the time it depends on the investor of your loan as well as the company that services the mortgage. Most companies will require that you have deed in lieu paper work submitted a certain amount of time before a foreclosure sale.
How long do you keep old foreclosure papers?
how long do you keep foreclosure papers
Do you have to go in front of the lender to close and sign the final mortgage papers?
Usually you would sign loan papers at a title company or a location handling the change of title.
What are civil papers?
Civil papers are a type of legal papers. There are several kinds of civil papers that include eviction, foreclosure, subpoena, and civil lawsuit.
Two Ways Mortgage Lawyers Reduce Hassles?
Mortgage lawyers are used in two main areas of real estate proceedings: preparing and completing mortgage papers and foreclosures. In both situations, the help of an attorney is essential. This article will explain how a mortgage attorney will be valuable in each instance. Mortgage laws differ from one state to the next. Those who move across state lines to purchase a new home should always contact a lawyer for help before signing a mortgage document. In some areas, the mortgage lawyer will usually work for a real estate law firm. Ask for a professional who specializes in mortgage documents. Depending on how complicated the transaction is, the attorney may only need to review the papers. In other cases, he or she may suggest a complete revision, addition of some wording or striking out wording. In mortgage agreements, the lender may try to add wording that they can legally get away with, but if the buyer requests otherwise, it can be stricken out. In some cases, there is also essential wording that will protect the buyer that is left out by the lender. This is why it is important to have a good mortgage lawyer review the documents. In a foreclosure situation, most home buyers are overwhelmed with the long process they're facing. The stress of trying to handle affairs with a foreclosure, added to the stress of other financial and personal burdens, can be made easier by hiring a mortgage lawyer. They are able to review the mortgage documents for any loopholes or clauses that can benefit the buyer. In the worst case where no such clauses exist, they are also beneficial during the foreclosure process. Some lenders try to bully buyers and may even resort to illegal actions if they think they can get away with them. Having a lawyer handle all correspondence is important. The mortgage attorney will also know how to proceed with any actions, based on what is said in the document. For example, in a state where the buyer has the right of redemption, the lawyer may be able to help the buyers buy back a property if they are able to obtain the funds quickly, even after the foreclosure process has begun. If the process is completed, the lawyer will be sure that the recourse or non-recourse proceedings are upheld by the lender, potentially saving the buyer from paying thousands of unnecessary dollars after the final sale.
Is it legal for a credit company attorney to be sending relief from stay motion papers directly to the creditor instead of the attorney which represents the creditor that has filed chapter 13?
If a creditor files a motion for relief from stay in any bankruptcy proceeding, the papers should be served on the debtor's attorney of record.
Are parties entitle to paper work prior to closing mortgage?
we took a reverse mortgage received no paper work the title company sent a man to our house to close he came hours late and we had no time to read anything i was told if i didn't take this loan we would go into foreclosure so what could i do i later found out by law they were to sent papers truth in leanding prior to closing is this correct
What does it mean when owner will carry papers?
When the owner carries the paper that means that the owner will finance the deal. The owner becomes the mortgage company.
Who records a satisfaction of mortgage?
The same local county/parish Registrar or Recorder who recorded the Deed of Trust will record the satisfaction or reconveyance papers. Your mortgage company is responsible for filing the appropriate documentation.
What happens if you cannot locate your satisfaction of mortgage papers?
They should be recorded. Just contact your county recorder's office to get a copy. If the satisfaction is not recorded, you will need to see a real estate attorney.
If i seller financed a sale how do i foreclose on them?
You go to the local court where the property is located and file foreclosure papers or call an attorney and have then do it for you just like a bank would. A better option may be to try to work something out with the payer like offering to pay moving expenses in return for having them sign a deed in liue of foreclosure.
What is an attorney's lien?
An attorney's lien is the right of an attorney to retain a client's papers until the attorney's fees have been paid.
