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Recent Foreclosed Property questions
My house has been in foreclosure since 2012. We have
My house has been in foreclosure since 2012. We have horrible terms and an excessively large balloon payment, which was brought on by a refinance to clear up my boyfriend's credit card debt. The mortgage is in his name, but both of our names appear on the deed.I lost my job, which was allowing us to pay our new mortgage payment of $4500/month, up from $2200/month. I was on severance for 6 months, then unemployment, but unable to find work. I was doing freelance work and was barely able to stay afloat. During this time, we split up and I found a small apt to live in - but eventually couldn't afford that, lost my car to repossession and moved in with two roommates. After two years, my boyfriend and I got back together. I am living in the foreclosed property. During this time he made no payments and said that a loan modification was not an option. I am not sure if he actually went through the motions to get one, but based on his salary probably could not have qualified for one.I am working full time at a non-profit and making about half of what I used to earn. Between his salary and mine, we could make a $2500/month payment. We hired an attorney who says there is nothing more to be done. I read about people being able to stay in their homes until they are ready to move. I just need time to find a place to live that I can afford. Today I opened my mail to find a Notice of Summary Judgement and if I am reading this correctly, we have to appear in court on August 25th and fight this, or the judge can find for the bank and allow them to immediately advise the court clerk to have me removed from the property, so it can be sold at auction.Is there any hope at all here? The bot***** *****ne is while I am named in the suit, it is because my name is ***** ***** deed. My boyfriend's name is ***** ***** mortgage, so he has all of the downside of the foreclosure on his credit etc. I hear about programs, but he thinks its not worth looking into.
How to get my ownership of neighborhood common area? Back 3
How to get my ownership of neighborhood common area?Back 3 years ago, I purchased my house through bank foreclosure. In my neighborhood, there are 10 families (means 10 lots) plus one common lot. All houses were built around this common lot. The common lot number is ***** All 10 families response for paying tax and maintenance this common lot. Our neighborhood does not have formal home association, but we do have agreement for all 10 families to pay the fees for all expenses (tax, cut grass, etc.). This agreement was recorded back many years ago.All 10 families owned 1/10th of this common lot (lot-11). From county tax record, 10 families are the owners for this common lot.When I purchased my house (lot 3), title of this 1/10th common lot did not come with my house (lot 3). I was told that the deed of trust previous owner had does not include this 1/10th of common lot. I paid all fees and performed my duty to be of home owner in my neighborhood in past 3 years.Now I am selling my house, the next buyer wants 1/10th common lot title. I have tried to get previous owner help to write Quitclaim deed for the 1/10th common lot, but they refused to do so.Is there another way I can get this 1/10th common lot title?
Attorney At Law
Doctor of Law w/ highest honors
Some years ago my lender offered me a short payoff not a
Some years ago my lender offered me a short payoff not a short sale. A short payoff where I would make an offer on my property and they would decide if they would accept it or not. If they accepted it then I would have to verify I have the funds and they would collect payment and release my title. At the time I didn't have the money however my question is why would a lender even suggest that as an option. Is this common practice? I must admit I was significantly behind on my mortgage.
Whether it be from an apartment eviction or a foreclosure
Whether it be from an apartment eviction or a foreclosure eviction. Can your property be thrown either in the street or taken to the dump on the day of the eviction? Do you have a period of time to retrieve your property? Or is it placed in some type of storage for a set period before thrown away or auctioned?
I am buying a property that was bought in a foreclosure. The
I am buying a property that was bought in a foreclosure. The current owner bought it on the courthouse steps but never formally evicted the previous owner. They do not live at the residence but I need to know once we own it if we have to go through an eviction process to do anything with the house and his things left on the property
On January 2 my purchase contract was accepted HUD /View more real estate law questions
On January 2 my purchase contract was accepted for a HUD / foreclosed property. A day before inspection, appraisal, the sprinkler pipe burst, flooding the main level. In the past five mos. Chronos, HUD's facility mgmt/asset mgr, promised to repair the damage and now wants me to get a 203K loan and give an $8000 credit towards repairs which reflects their contractor's bogus estimate. A mold/water expert/contractor gave an estimate of $45K to repair, as now mold has continued to grow and damage has worsened during these mos (in MN), as they've delayed. My realtor said because it's now a sellers' market, Chronos is probably playing hardball so I walk away from the contract and they sell for more. The home was in a livable state initially, just needed appliances and some paint and cleaning. Now it is a sick building and uninhabitable and it seems they're not honoring the deal to sell me the home as agreed in the original condition.I now cannot afford a home in our school district. Recourse