Legal

Ask a lawyer and get answers to your legal questions

Ask a Lawyer,
Get an Answer ASAP!

My sister is in a foreclosure proceeding and the lending…

Customer Question
My sister is in...

My sister is in a foreclosure proceeding and the lending institution is not allowing her to make up the back payments, which she is now able to do. The mortgage loan is a refinance of $70K while the purchase price, originally paid in cash was $269K. What are her rights and how does she protect the equity in her home?

Lawyer's Assistant: Since laws vary from place to place, what state is this in? And has any paperwork been filed?

California, I believe they sent her a notice. She claims she talked with a supervisor at Cash Call, which holds the refinance, and they told her if she paid the three months past due, she would be OK. She did, but when she submitted the July payment they rejected it and told her the house was in foreclosure.

Lawyer's Assistant: Has anything been filed or reported?

I don't know, but must assume that it has.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

These are the basics as far asI know.

Submitted: 11 months ago.Category: Legal
Show More
Show Less
Ask Your Own Legal Question
Answered in 6 minutes by:
7/16/2017
Lawyer: Ray, Lawyer replied 11 months ago
Ray
Ray, Lawyer
Category: Legal
Satisfied Customers: 47,610
Experience: 30 years in civil, probate, real estate, elder law
Verified

Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question and respond.

Ask Your Own Legal Question
Lawyer: Ray, Lawyer replied 11 months ago

She may be looking at Chapter 13 bankruptcy to stop foreclosure and reinstate the loan.It appears to me they have accelerated the loan and are seeking to foreclose.This really her only option since she cannot pay off the loan and the acceleration has been pursued.Chapter 13 allows her to keep home and will be a multi year payment of debts type bankruptcy.

Reference

Under a chapter 13 bankruptcy, a debtor proposes a 3-5 year repayment plan to the creditors offering to pay off all or part of the debts from the debtor’s future income. You can use Chapter 13 to prevent a house foreclosure; make up missed car or mortgage payments; pay back taxes; stop interest from accruing on your tax debt (local, California state, or federal); keep valuable non-exempt property (see California exemptions); and more. If you can stick to the terms of your repayment agreement, all your remaining dischargeable debt will be released at the end of the plan (typically three to five years). The amount to be repaid is determined by several factors including the debtor’s disposable income as is usually determined as part of the California Means Test. In addition, the total amount paid to creditors under the Chapter 13 plan must also be at least as much as creditors would have received if the debtor filed a Chapter 7 bankruptcy. To file Chapter 13 bankruptcy you must have a “regular source of income” and have some disposable income to apply towards your Chapter 13 payment plan.

Chapter 13 bankruptcy is generally used by debtors who want to keep secured assets, such as a home or car, when they have more equity in the secured assets than they can protect with their California bankruptcy exemptions. Chapter 13 bankruptcy is a reorganization whereas Chapter 7 bankruptcy is a liquidation.

A chapter 13 bankruptcy allows them to make up their overdue payments over time and to reinstate the original agreement. Where a debtor has valuable nonexempt property and wants to keep it, a chapter 13 may be a better option. However, for the vast majority of individuals who simply want to eliminate their heavy debt burden without paying any of it back, Chapter 7 provides the most attractive choice.

Ask Your Own Legal Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Tina Your Own Question
Tina
Tina
Tina, Lawyer
Category: Legal
Satisfied Customers: 8,775
8,775 Satisfied Customers
Experience: JD, BBA Over 25 years legal and business experience.

Tina is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Not only did he answer my Michigan divorce question but was also able to help me out with it, too. I have since won my legal case on this matter and thank you so much for it.

LeeMichigan

< Previous | Next >

Meet the Experts:

Tina

Tina

Lawyer

8,775 satisfied customers

JD, BBA Over 25 years legal and business experience.

Ely

Ely

Counselor at Law

24,642 satisfied customers

Private practice with focus on family, criminal, PI, consumer protection, and business consultation.

INFOLAWYER

INFOLAWYER

Attorney

22,059 satisfied customers

Licensed attorney helping individuals and businesses

JPEsq

JPEsq

Attorney

2,132 satisfied customers

Experience as general attorney, in house counsel, SSDI, Family Law attorney, and law professor

Law Educator, Esq.

Law Educator, Esq.

Attorney

43,763 satisfied customers

JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law

Ellen

Ellen

Lawyer, Consultant

8,238 satisfied customers

25 years of experience helping people like you.

Guillermo Senmartin

Guillermo Senmartin

Lawyer

297 satisfied customers

Principal Attorney at Guillermo J. Senmartin, P.A.

< Previous | Next >

Related Legal Questions
Is a delay education legal in mn? I'm in foreclosure & move
I'm in foreclosure & move out date is 7/19..but I've heard this can be postponed? True? No mn lawyer … read more
Phillips Esq.
Phillips Esq.
Attorney
JD
19,837 satisfied customers
FOR LAW EDUCATOR ESQ.: In a particular foreclosure matter I
FOR LAW EDUCATOR ESQ.: In a particular foreclosure matter I made a motion for summary judgment eventually the motion was decided moot as the plaintiff discontinued the action based upon the issue bein… read more
Law Educator, Esq.
Law Educator, Esq.
Attorney
Doctoral Degree
43,763 satisfied customers
The apartment I have been living was just foreclosure and
The apartment I have been living was just foreclosure and purchased at auction. I had no warning whatsoever that it was being in foreclosure. Plus, at the same time, my landlord / homeowner owner died… read more
Barrister
Barrister
Attorney/Landlord/Realtor
Doctoral Degree
37,395 satisfied customers
I had an auto loan and a RV loan from 2010 that I didn't
I had an auto loan and a RV loan from 2010 that I didn't complete payment on. I haven't been contacted by anyone for collection since 2010-2011 but the units are still in my posession. I'm considering… read more
INFOLAWYER
INFOLAWYER
Attorney
Doctoral Degree
22,059 satisfied customers
I have a title loan and the initial loan was for $3,000 and
I have a title loan and the initial loan was for $3,000 and I couldn't pay it so now they are wanting $14,000 They repossessed the car but the car isn't even worth that can they take me to court for t… read more
Pheobe Clark
Pheobe Clark
Attorney
JD
144 satisfied customers
An Ohio homeowner is in a foreclosure dispute concerning the
An Ohio homeowner is in a foreclosure dispute concerning the house. The homeowner has let the Court know that, regardless of the result of the trial, the homeowner wishes to simply sell the house, whi… read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
12,040 satisfied customers
I am looking for information on foreclosure. No i have not
No i have not been served yet but been put on notice … read more
LegalKnowledge
LegalKnowledge
Juris Doctor
30,162 satisfied customers
Have house that's in foreclosure Mom owns it but had stroke
have house that's in foreclosure Mom owns it but had stroke so we are on default can i file a bankruptcy on her behalf … read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
12,040 satisfied customers
My company has been liquidated and we are receiving
My company has been liquidated and we are receiving severance. We were just told yesterday thatthey capped it at 12850. We were given a warn notice that our last day is June 5th. They are deducting th… read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
12,040 satisfied customers
I owe a bill to a business who is bankrupt and liquiding
I owe a bill to a business who is bankrupt and liquiding assets do i continue to pay the bill … read more
Phillips Esq.
Phillips Esq.
Attorney
JD
19,837 satisfied customers
After you have lost an investment home to foreclosure are
After you have lost an investment home to foreclosure are you still personally liable for the debt - if it was a recourse loan in new jesey … read more
Law Educator, Esq.
Law Educator, Esq.
Attorney
Doctoral Degree
43,763 satisfied customers
I wanted to speak with an Attorney about a foreclosure case
I wanted to speak with an Attorney about a foreclosure case I'm involved in currently … read more
Ray
Ray
Lawyer
47,610 satisfied customers
FORECLOSURE IN NJ: Mortgage company filed foreclosure
FORECLOSURE IN NJ: Mortgage company filed foreclosure complaint. Documents were never served and was unaware of the filing until I received Final Judgement, via USPS certified mail. I immediately file… read more
DamienJD
DamienJD
Attorney
Doctoral Degree
4,768 satisfied customers
Business Foreclosure with unpaid employee wages, payroll
Business Foreclosure with unpaid employee wages, payroll taxes, etc...it seems that the lender in first lien position comes ahead of the employee wages in liquidation, but I also hear that employee wa… read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
12,040 satisfied customers
Loan depot messed up refinance loan was told loan was
loan depot messed up refinance loan was told loan was approved closure statement was signed closing date was set lady called got direction to home to sign papers loan officer told me to cancel payment… read more
Attyadvisor
Attyadvisor
Doctoral Degree
8,025 satisfied customers
In a foreclosure in North Carolina, if there is an existing
In a foreclosure in North Carolina, if there is an existing lien, how is it considered: must it be settled first?… read more
Ray
Ray
Lawyer
47,610 satisfied customers
This Medical Group's insurance company went into liquidation
This Medical Group's insurance company went into liquidation after we negotiated a settlement with them. Is the group liable? … read more
INFOLAWYER
INFOLAWYER
Attorney
Doctoral Degree
22,059 satisfied customers
Sears is closing out in Canada and are liquidating
Sears is closing out in Canada and are liquidating everything, I came not even a month ago and they had luggage bags for 60 percent off, I have proof I have my old receipts that shows 60 percent off a… read more
Olivia Kent
Olivia Kent
Managing Partner
Doctoral Degree
3,523 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x