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I'm currently the owner of a 2nd. mortgage on a property

I'm currently the owner of a 2nd. mortgage on a property located in New Jersey. The owner's gone into default on the 1st. and he's hasn't paid on my 2nd. in 18 months, the property is now being held in the Loss Mitigation Department of the Bank of America. I know that a foreclosure in New jersey can take up to 5 years but I'd just like to know what my options are at this point? Here are the details:1st. Mtge. 08/04/05... $460,0001st. Mtge. Current Mkt. Val... $230,0002nd. Mtge. Balance... $34,000

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Ely

Counselor at Law

Juris Doctor

68,024 satisfied customers
I need some advice as a divorced spouse with mortgages now

Hi Pearl, my name is Susan. I need some advice as a divorced spouse with mortgages now my responsibility under Garn-St. Germain, specifically my HELOC.JA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: Virginia.JA: Has any paperwork been filed?Customer: No.JA: Anything else you want the lawyer to know before I connect you?Customer: I don't think so. Great.

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Lucy, Esq.

Juris Doctor

32,552 satisfied customers
I have been separated from my husband for two years. A lien

Hi I have been separated from my husband for two years. A lien has been placed on the house that I left to him and which I recently signed over to him. The lien is affecting my credit adversely and he tells me that he does not have the money to pay off the lien, is there anyway I can get my name off of the lien that is affecting my credit?JA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: CailforniaJA: Has any paperwork been filed?Customer: No divorce or legal separation at this point but he had me sign the property over to him.JA: Anything else you want the lawyer to know before I connect you?Customer: Can a Interspousal Transfer Deed remove my name from the Lien?

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Ely

Counselor at Law

Juris Doctor

68,024 satisfied customers
I have a SBA guarantee debt/2nd on my home. I filled BK in

I have a SBA guarantee debt/2nd on my home. I filled BK in 2012 and wiped out any liability to the SBA at that time. My BK attorney said we could not strip the guarantee off the property. He said it was not a 'True' 2nd mortgage. So the question is; If I sale the home do I still have to pay on the guarantee what net cash I get out. And if I should Not have to pay the SBA lender - if they take it anyway can I sue to get it back. Technically I owe them nothing on the debt - it was included in the BKJA: PayPal, Debitcard or credit card are all fine. Because real estate law varies from place to place, can you tell me what state this is in?Customer: California (So Cal)JA: Has any paperwork been filed?Customer: paperwork been filed for what?JA: Anything else you want the lawyer to know before I connect you?Customer: I cannot think of another thing

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DrakeLAW

Juris Doctorate

1,070 satisfied customers
My husband consigned a loan for his sister on a home she

My husband consigned a loan for his sister on a home she want pay her payments and when she moved the home she breached the contract with the bank I know I am liable for the payments on the home because she has refused to pay and the bank is going to let me take over payments but the home has to be moved back on the original land it was deeded on the bank is going to move it back but they are going to try to make me pay for it being moved I signed the note on the home and I will take that responsibility but I should not have to pay for the moving back because that was none of my doing can the bank make me pay for this moving bill

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RealEstateAnswer

Juris Doctor

33,960 satisfied customers
We financed our mortgage through capital farm credit here in

We financed our mortgage through capital farm credit here in Texas. Problem is, they secure 100 acres away from the property as collateral for the loan good part is if anything happens, they get the separate acreage and we keep our home. Bad thing is I can't find anyone to refinance this loan. How can I get this done since it's considered some sort of land loan? Please help!

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Law Answers

Doctor of Jurisprudence

8 satisfied customers
How should I respond to his email? On one item, He suggests

How should I respond to his email?On one item, He suggests I should pay for half of the fee for the pool clean up! The guys that I had to hire to clean up the property on an emergency basis for the existing guests so I would not loose the income cost $400. I rewarded The guests who saved the house from Certain flooding with a home cooked meal that cost me $350 and he said he should have approved that expense! (See his other responses to my email on former question). I would much rather NOT litigate and settle this but it's unfair what he's suggesting. How do you suggest, oh great one, that I finesse the response to my email?

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39,070 satisfied customers
My master bathroom was flooded on Dec. 14, 2016 and the

My master bathroom was flooded on Dec. 14, 2016 and the water went to the master bedroom. The cause of the problem was the sewage pipe was clogged up by roots.JA: Where is the property located?Customer: Garden grove, California. Anyway the insurance adjuster came by and gave me an estimate of $24k to replace the flooring and the wall. The insurance company sent the check to me and the mortgage company. Now the mortgage company wants me to endorse the check, insurance company co. adjuster's worksheet, signed contract proposal, contractor's waiver of lien and their inspector needed to verify the repair. My question to you is is this all legal? The check was on my name and the mortgage company. The mortgage company will deposit the check into an account and they will issue a check made payable to me and the contractor. What if the repair was less than $24k, do they keep the balance?JA: Has any paperwork been filed?Customer: I just sent the check last Monday and they have it now. The paperwork from the mortgage company to be filled out just came in the mail today.JA: Anything else you want the lawyer to know before I connect you?Customer: I think that's it.

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

51,126 satisfied customers
I am trying to purchase my late mom's home, which is in

HI, my name is***** am trying to purchase my late mom's home, which is in probate. I have five livings siblings. There is no will. mom name is ***** ***** name on the title. There is a mortgage of $41,000, I am seeking $140,000 from the lender ( Navy Federal ) an offer that is the same as our highest Investor offer. The lender is not sure how to get my the loan, because there is not a straight out purchase, as the need to divide the monies beyond the mortgage payoff. They are going to contact me later today. I need information as to how I may go about how to handle this matter

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legalgems

Juris Doctorate

16,138 satisfied customers
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