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Foreclosure
The process by which the holder of a mortgage sells a property after the debtor defaults on their loan for it
2,433 Questions
No. Leins are non-transferrable. It is possible to take a cashout refinance of the other property to pay the lien in full however. No. Leins are non-transferrable. It is possible to take a cashout refinance of the other property to pay the lien in full however.
How long can you live in your home after the sheriff sale in Minnesota?
Normally, the sheriff will evict you before he conducts the aution. However, because of all the financial problems and forclosures in the past few years, most sheriffs and purchasers try to work with the residents the best they can. However, once the home is sold, and you are still living in the home, you are tresspassing and can be removed by force if the new owner files charges against you.
Any lien that appeared prior to the mortgage that was foreclosed.
Does the new owner who purchases property in a foreclosure sale owe past due condo fees in Florida?
The documents made available to you at the time of finalizing the foreclosure sale should detail any monies from the sale proceeds that pay assessments owed by the previous owner.
Primarily, if the board has properly filed a lien against the title based on this debt, part of the proceeds will be spent to retire the lien.
If, however, the board has not fulfilled its requirement to file a lien, you may have no obligation to pay the previous owner's past-due assessments.
If the board pursues you for these monies, take your sale paperwork and the demand from the board to a common-interest-community-attorney and ask for a letter to the board to resolve the matter in your favour.
How long can you stay in house after trustee abandons property?
You can stay as long as you keep making the mortgage payments.
Who is responsible for getting Tenants to leave on a foreclosed home?
Inamuch as foreclosure is a civil action (not a criminal one) it usually falls to the Sheriff's Department of the individual counties to enforce an eviction order. In those few juirisdictions which are under federal control, the job is handled by the US Marshall's Service.
Do you have to put money down after bankruptcy to buy a home?
After bankruptcy you will have to start rebuilding your credit. You have just proven you inability to handle money and must now prove you are going to try harder. No bank or group will want you to take their money also, so you will probably need a fair amount down.
You may wish to hold off making wild purchases if you have made this big a mistake recently. Debt is bad. It is really bad when you screwed up so bad you culdn't give back the money they gave you. Go slow and you will be better in the long run.
Do you have a Sample motion to dismiss foreclosure complaint Florida?
Defendant moves to dismiss count I of Plaintiff's complaint to re-establish a lost promissory note for failure to state a cause of action.
29. Florida Statutes Chapter 673 "applies to negotiable instruments."
30. F.S. 673.1041(1)(c) defines the term "negotiable instrument" as an unconditional promise or order to pay a fixed amount of money, if the instrument does not state any other undertaking or instruction by the person promising or ordering payment to do any act in addition to the payment of money. (emphasis added)
31. F.S. 673.1041(2) provides that "instrument" means a "negotiable instrument".
32. The official comment to F.S. 673.1041 states that the definition of "negotiable instrument" delineates the scope of Article 3 of the Uniform Commercial Code.
33. The promissory note that the plaintiff seeks to foreclose is not a negotiable instrument under Florida law because the note is not just a promise to pay as it requires additional undertakings by the owner and holder of the note imposed pursuant to the special default loan servicing obligations that apply to this loan. These special and highly detailed loan servicing requirements are incorporated into the subject note and serve to create uncertainty in the amount due. As a result, the promissory note is not a negotiable instrument and not subject to reestablishment under the Uniform Commercial Code.
34. A promissory note to be negotiable, must contain an unconditional promise and there must be a specific ascertainable sum. The uncertainty presented by the terms of the note at issue in this foreclosure defeat negotiability of the note and eliminates the possibility of the application of F.S. Chapter 673 in an action to enforce the note. Nagel v. Cronebaugh, 782 So. 2d 436 (Fla. 5th DCA 2001), citing United Nat'l Bank of Miami v. Airport Plaza Ltd. P'ship, 537 So. 2d 608,609 (Fla. 3d DCA 1988); Thompson v. First Union, 643 So. 2d 1179 (Fla. 5th DCA 1994); See also, Bankers Trust v. 236 Beltway Investment, 865 F. Supp. 1186 (E.D. Va. 1994).
It is my understanding from the answers here that each item on your credit report remains separate, and if it was handled by the BK, that is noted (to show while never paid, it is no longer owing). The BK itself is reported too.
Understand, the Court may discharge your obligation to pay the debt, but no creditor has to say it is OK, you paid, or even you did what you said...it wasn't, you didn't.
Will your tenant be notified to move after foreclosure?
Under the Federal Protection for Tenants in Foreclosure Act, passed in 2009, the buyer at foreclosure must give the tenants 90 days to relocate. After that, in most states, the buyer must pursue a legal eviction.
Does an eviction notice have to be signed and notarized?
as long as a police officer serves you no... but i could be wrong cause I'm still looking it up. sorry:( and have not seen anything that says it has to.
Show samples of disclaimer clause?
A disclaimer removes responsibility from the designing or selling entity and places it on the shoulders of the consumer.
How many oceans are in California?
There are no oceans in California. However, California's coastline is on the Pacific Ocean.
What schedules do you need to file under chapter 7 bancruptcy law to exempt a property?
One normally files a Schedule C as a part of their bankruptcy petition. Schedule C lists the various items of property found on Schedules A and B with the State (or Federal) Code Section next to each piece of property which exempts (i.e. protects) that type of property and the amount of the exemption used to protect that particular piece of property. So, a Schedule C might look something like this (very roughly): "SCHEDULE C: Real estate listed on Schedule A: (1) House at 123 Main St, USA Value: $5,000.00 Exemption Code Section: Indiana Code Sec. 1-2-3-4 Value of Claimed Exemption: $5,000.00 Personal property listed on Schedule B: (1) Furniture Value: $500.00 Exemption Code Section: Indiana Code 1-2-3-5 Value of Claimed Exemption: $500.00 (2) Clothing Value: $100.00 Exemption Code Section: Indiana Code 1-2-3-6 Value of Claimed Exemption: $100.00 etc etc" Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person. RossLawOffice.com
A collection agency doesn't have the power to do anything other that aggravate you. They can with the agreement of the original creditor turn your account over to a collection attorney. The answer to your question is NO! For the amount in question it would be a small claims court judgment (if they got one). I assume there was an outstanding balance on the rental They might be able to get a wage or bank account garnishment. But that too is questionable. If anyone from a collection agency has told you they can place a lien against your property. They are in violation of the FDCL and could be fined or sued for their actions.
When is a complaint and summons usually delivered to your house?
There is no "set" time when a summons and complaint will be served. The sheriff or marshall will delivery the summons and complaint at any time they are on shift. It is not uncommon for a summons and complaint to be delivered early in the morning or late in the evening.
If you are selling "by owner" then you can have the contract made (through your lawyer) that the buyer buys your home "as is." If you have a Real Estate Agent and don't tell them the truth about the change (you should have gotten a permit for safety's sake) then the Real Estate Agent is not liable, but you are if anything goes wrong with the change. Fireplaces, electrical wiring, plumbing, roofing, etc., are all very important things when buying a house.
Is my 401k and IRA protected from foreclosure?
If by "foreclosure" you mean that the mortgage lender is taking your home back, yes they are prtected. However, if you really mean BANKRUPTCY, no, they are NOT protected, since they are assets you can use to reimburse your creditors.
How long after a foreclosure can you get a new mortgage?
That depends on your credit rating and whether you can find a lender willing to risk loaning more money to you. That is unlikely since your current history shows you were unable to pay your mortgage. Lenders are tightening their standards in reaction to the present foreclosure crisis. It may take you several years to improve your credit record enough to qualify for a mortgage again. You also need time to build up a savings reserve for a down payment and to show you have resources to fall back on in an emergency.
Whats Georgia's laws on deficiency judgments when you surrender your car?
http://www.legis.state.ga.us/cgi-bin/gl_codes_detail.pl?code=10-1-36 10-1-36. (a) When any motor vehicle has been repossessed after default in accordance with Part 6 of Article 9 of Title 11, the seller or holder shall not be entitled to recover a deficiency against the buyer unless within ten days after the repossession he or she forwards by registered or certified mail or statutory overnight delivery to the address of the buyer shown on the contract or later designated by the buyer a notice of the seller
What is the time frame between foreclosure and sheriff sale?
The foreclosure process culminates with the foreclosure sale. In some jurisdictions the sale is conducted by a sheriff. One can say the foreclosure has been done when the sheriff's sale has been conducted. There is no time frame between the foreclosure and the sheriff's sale.
If you want to know the time frame between the initial notice to foreclose and the foreclosure sale, you need to check in your particular jurisdiction. Times vary.
The foreclosure process culminates with the foreclosure sale. In some jurisdictions the sale is conducted by a sheriff. One can say the foreclosure has been done when the sheriff's sale has been conducted. There is no time frame between the foreclosure and the sheriff's sale.
If you want to know the time frame between the initial notice to foreclose and the foreclosure sale, you need to check in your particular jurisdiction. Times vary.
The foreclosure process culminates with the foreclosure sale. In some jurisdictions the sale is conducted by a sheriff. One can say the foreclosure has been done when the sheriff's sale has been conducted. There is no time frame between the foreclosure and the sheriff's sale.
If you want to know the time frame between the initial notice to foreclose and the foreclosure sale, you need to check in your particular jurisdiction. Times vary.
The foreclosure process culminates with the foreclosure sale. In some jurisdictions the sale is conducted by a sheriff. One can say the foreclosure has been done when the sheriff's sale has been conducted. There is no time frame between the foreclosure and the sheriff's sale.
If you want to know the time frame between the initial notice to foreclose and the foreclosure sale, you need to check in your particular jurisdiction. Times vary.
How soon can foreclosure occur after default on discharged bankruptcy?
Depends on if the loan is actually secured by a Deed of trust (which has become much more popular) or by an actual mortgage.
No, you can't just add someone to your bankruptcy case after you filed. Also, to be a joint debtor in the first place you need to be currently married, not an ex. Last, why would you want to add him? The debt is yours, not his. Where is the benefit to you?
