Debt and Bankruptcy

A cloud on titlle is any claim to the title on a property that puts another claim into question. That is, one may own a property that another person claims with some (though by no means clear) legal justification.

Example would include an easement that hasn't been recorded. Another example is if the originating bank puts a Lien against the property, but then sells the loan and the new bank, instead of buying the NOTE and putting a Lien on the property, instead is merely a Servicer,not a Lender, and records the Lien in MERS, an electronic registration system for ability to trade Mortgage Backed Securities, but not in the County Tax Records. In order to be a trustee and a beneficiary party in interest, the party must have put money up to the game in order to have legal standing. MERS is merely a recordation system and is not an assignee as no Deed of Trust has ever been assigned to it, nor has it ever put any cent in any real estate transaction.

It gets very complicated as a result of Pooling and Servicing Agreements, that hold a collection of NOTES together, for the purpose of selling on the secondary market as Mortgage Backed Securities. Once a NOTE changes form from a NOTE to a STOCK, it changes form irrevocably. Therefore, the chain of title is broken and a broken chain of title can not be fixed. Once it is broken, it is broken.

To answer your question,no a LIEN is not a cloud on the TITLE in any way. Clear and marketable title is not necessarily a title free of LIENS. A title can indeed have a lien against it. That by itself is not a cloud on title. Instead, if there is a broken chain of assignment of the NOTE and the LIEN, than that is instead a cloud on title. A cloud on title makes a property very un-marketable, as the property can not be conveyed with clear and marketable title, to a new buyer and therefore, any previous claims against the title have to be paid by the new owner, whether or not they were part of the situation that caused it.

In other words, once a property becomes bank owned, a foreclosure, the foreclosing bank pays off all Junior Lien holders, such as a Home Equity Loan or a Mechanics Lien, so that all legal issues of the previous home owner don't fall upon the new home owner.

Most creditors take a very dim view of bankruptcy, and you will likely lose your card(s). Remember, bankruptcy should be a last resort, not to be gone into lightly. It's best to consult with a lawyer first, if not to actually engage one to help you.

I would hope they wouldn't! If your house is being taken away because you are not paing them back, they are owed the money, not you. A bank would not assist in that theft of money. I would believe that there would be criminal issues involved if you cashed that check anyway. Their name is on the check for a reason, they are protecting their money that is not being paid back.

No. You never agreed to pay the debt, therefore cannot be held responsible.

No I Can't

A quitclaim deed says the signer no longer has any ownership or responsibilities to the property in question. However, if there is a mortgage in the signers name, he or she is still responsible for that debt, even though they no longer own the property. If a person files bankruptcy after signing a quitclaim deed, any mortgage owed is still factored into the bankruptcy proceedings. If the court so deems it, and it is a common practice, filing a quitclaim deed just prior to filing for bankruptcy can be considered fraud. It is best to consult a bankruptcy attorney familiar with local laws prior to signing any document.

The executor is not personally liable for anything. The estate is liable for all of the debts. If the executor is going to inherit anything, there may not be anything for them to get.

Debit cash
Credit bad debts

yes, I did.

Well Georgia is a Debt Deed state not a mortgage state. So if you have a debt deed to record you can do it at the clerk's office in the town , city or county where the property is located. Deeds will have to be filed there too.

I had a house for 8 years and the when my husband got sick, I was the sole person paying the bills by my self. I was on chapter 13 at first to pay the bills right by paying each pay period. But the end of the 5 years i was not caught up with the bills. So i went to chapter 7. I was out of so much money in chapter 13. But i never missed a payment. I was all ways on time. My questions is I am renting a house right now, and I pay 875.00 a month. The rental will be up in November of this year. Can I buy another house after all of this?

Thedebtanswer.com has been a life saver since my wife and I have had a decrease in income due to the horrible economic times. The Law office has helped us out tremendously and its always nice to be able to speak to someone that has been doing this for a long time and nows how to deal with every major credit card company. I would have to say if you are in a situation with no end in site I would give them a call. Very professional organization

Not unless the mobile home was part of the collateral offered for the loan that is in default or. For example, if the lender gave money to a borrower and secured a lien against land, then you placed the mobile home on the property, the mobile home is your property and was not part of the defaulted loan. You will be required to vacate the land, but should be able to take the mobile home assuming it belongs to you. Generally, true mobile homes are not real estate, they are personal property. A mobile home can become real estate if it is built after the 1970s, has a HUD sticker, is on a foundation and the owner pays property taxes. If this occured and was owned by person who defaulted on the loan, it might be part of defaulted loan. There may be a trustee of record for the foreclosure, if you are unsure about your rights you may contact them or an attorney for information

You can purchase 1%, 60g of Metrogel for $64.51 if you buy it online. There are some places where it might be more expensive.

Good for you! More people should cut up their credit cards and learn to live within their means.

Yes the spouse who denies that she or he held a property at the time of divorce to avoid more payment is guilty of perjury.

Just google "debt settlement calculator." All of them are offered by debt settlement entities who want your money and often do not provide the service they promise.

These entities are often created by a lender or credit card company and treat their debts differently than other debts. Don't trust them. Go to a debt counseling agency approved by the US Trustee's office. http://www.justice.gov/ust/eo/bapcpa/ccde/index.htm

Yes you can, he may on the other hand will not be able to receive a discharge under the same chapter for 6 years.

They can and will.

In Georgia, homeowners typically have about 30 days to vacate their home after a foreclosure sale. It's important to check the specific timeline outlined in the foreclosure notice received from the lender to understand the exact timeframe.

NOT EVEN CLOSE!!! Yellow Book is the only one in the industry still in the black.

Whether you are filing Chapter 13 or Chapter 7 bankruptcy, your credit score will be directly impacted for 7-10 years AFTER you exit protection.

You can apply for anything you want, you most likely won't get it however until the discharge is listed on the court docket and your credit report is updated.

It depends on which bankruptcy you file for. If you file for Chapter 7 Bankruptcy, which includes a liquidation of any assets and paying off your debt once and for all, you'd be looking at a discharge within about 3 months. With Chapter 13 Bankruptcy your attorney would set up a payment plan for you to pay off your debts over a specified amount of time. Normally the payments are scheduled to be completed by the debtor in 3 to 5 years. So the discharge time will vary depending on what is agreed upon in the court. All the required payments must be made before the discharge can occur. I've written about these 2 types of bankruptcy in my blog, where I consider how these processes can affect your tax debt. http://taxreliefsolutions.blogspot.com/2009/06/are-you-considering-bankruptcy-as.html

Foreclosure laws typically apply based on the location of the property, so in this case, California's foreclosure laws would likely apply to the properties you both purchased in that state. It's important to consult with a legal professional in California to fully understand the implications and processes involved in the foreclosure proceedings.