Foreclosure

It would depend on the stage of the foreclosure and the laws in the state in which your property is located.

Generally, you could stay until you get evicted, unless you already have been. Once you have been evicted from a house that you do not own, you are legally trespassing after that time and could be arrested.

you must contact your leaner (sallie Mae 1-888-272-5543) or whoever is your leaner.

In the state the judgment creditor can execute the judgment as a wage garnishment or, bank account levy, or seizure and sale of unexempt property belonging to the debtor or a lien against real property belonging to the debtor. Missouri is a Tenancy By The Entirety state when it relates to married couples, this means that if only one spouse is the judgment debtor, property that is considered joint or titled jointly cannot be attached by the judgment creditor.

Yes, they have an obligation to continue to pay rent.

You will not lose your general contractor license or your real estate license if you have foreclosure on your credit report. A foreclosure or bad credit is not a disqualification for these types of licenses.

Yes. BK includes all your debts/obligations and all your assets, not just some. They each ae given priorities and some may be exempt from use or discharge, Theses creditors would be unsecured creditors agaisnt this, and all other assets. The lender on this property would have priority of payment from it, with the reminder, if any, going to lesser priority claims.

Basically, no lender can be forced to give you credit - regardless of why you think you deserve it. If you were defrauded of any property, which of course you would have to prove to a court - or your contention is not only not believable - but if actually said of someone or a company and unsupported, likely a criminally libelous act. But if true, not only would those doing so be subject to criminal charges...they would probably have to return the property to you...without a mortgage and pay additional damages to you too. So, if you were actually defrauded...pursue it....you'll come out way ahead!

You can live in the house 6 months after the Sheriff sale. This is called the redemption period.

On a dded of trust, generally 6 months.

On a conventional mortgage (which even though the term is still used frequently, really is a deed of trust if written in the last 20 years), as much as 1 year, before foreclosure.

Generally, deeds cannot be "rescinded". If you want the property back you need to get a deed executed by the new owner.

If the house is headed for foreclosure, anyone on the title and the mortgage is facing foreclosure, not just one of the owners. If the daughter was responsible for the mortgage payments by agreement with her grandmother, and got behind in payments, she may be able to pull the mortgage out of foreclosure by a Chapter 13, if she can afford the plan payments and the current mortgage payments.

If the Chapter 13 cannot succeed without financial input from the grandmother, it will be up to her to let it go forward and lose the house. Either way, the fact that the house is in foreclosure will affect her credit score.

Yes. First, you cannot sell or mortgage your property until the lien has been paid. If the amount of the lien is enough to warrant the costs of actually seizing the property that can usually be done through a sheriff's department once the creditor has won a judgment in civil court. The procedure varies from state to state but generally the sheriff can seize the property and sell it by a sheriff's deed. If the owner wants the property back they must pay the amount of the lien and all the additional costs.

Yes. First, you cannot sell or mortgage your property until the lien has been paid. If the amount of the lien is enough to warrant the costs of actually seizing the property that can usually be done through a sheriff's department once the creditor has won a judgment in civil court. The procedure varies from state to state but generally the sheriff can seize the property and sell it by a sheriff's deed. If the owner wants the property back they must pay the amount of the lien and all the additional costs.

Yes. First, you cannot sell or mortgage your property until the lien has been paid. If the amount of the lien is enough to warrant the costs of actually seizing the property that can usually be done through a sheriff's department once the creditor has won a judgment in civil court. The procedure varies from state to state but generally the sheriff can seize the property and sell it by a sheriff's deed. If the owner wants the property back they must pay the amount of the lien and all the additional costs.

Yes. First, you cannot sell or mortgage your property until the lien has been paid. If the amount of the lien is enough to warrant the costs of actually seizing the property that can usually be done through a sheriff's department once the creditor has won a judgment in civil court. The procedure varies from state to state but generally the sheriff can seize the property and sell it by a sheriff's deed. If the owner wants the property back they must pay the amount of the lien and all the additional costs.

Normally the spouse inherits the house. By law in Michigan a married couple should own the property as Tenants by the Entirety, which means that it transfers upon the death of the other spouse. Check the deed to insure that is so.

at least 16.

There are websites and self-help publications that can assist you with the basic terms and conditions of a home purchase agreement. Just because it's a FSBO doesn't mean you don't need a lawyer to keep you out of trouble.

If two people granted the mortgage and one dies the other is responsible for paying the debt. If the debt is not paid the bank can foreclose and take possession of the property.

You need to research your state and federal laws that govern foreclosure and make certain the mortgage document is valid for pursuing a foreclosure.

Yes, you can lose as much property and wages as it takes for the lender to recover all of the value you promised to repay.

First understand that you can't sign it "back" to the bank...they never owned it to get it back! They simply loaned you money so you could buy/invest in the home you wanted. If it went up in value, they couldn't get any more back...all they are interested in is getting the loan paid as agreed. Now, in reality, in some circunstances a bank will agree to you signing it over to them...sometimes as complete payment for the loan, sometimes for only part of it. Normally, you have to agree to maintain it, leave it in a certain time, undamaged, etc. All you can do is approach them with your situation and see what options they may have. Making a strong case that you cannot pay for it anymore and why - like loss of job - is a good starting point. Saying you can't or won't because it isn't worth what it was is not a good approach....it was your investment not theirs...maybe a bad one for you, but they probably have enough bad ones of their own doing.

Only through the court. The creditors are not allowed to speak with you about these things as it is considered actions to collect a debt, which your filing of BK specifically prohibits them from doing...which is why their foreclosure is delayed.

If the lender does not correct your credit report, then you could send a letter and a copy of the court's decision to the credit agencies. Still, a notice of foreclosure may remain, and I am not sure whether you can make that go away.

The Federal Protection of Tenants in Foreclosure Act requires a foreclosing bank to give a 90-day notice to quit (if they give one).