Legal

Ask a lawyer and get answers to your legal questions

Ask a Lawyer,
Get an Answer ASAP!

We have a condo we can't not afford and like to get rid of…

Customer Question
HI we have a...

HI we have a condo we can't not afford and like to get rid of it ,but we 11000.00 fot but now they only want 1.500.00 ,how can we do this

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

Rhodes Inland

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

Explain please

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

No we have made all of our payments ,but its been really tough to keep up

Submitted: 3 months ago.Category: Legal
Show More
Show Less
Ask Your Own Legal Question
Answered in 5 minutes by:
1/6/2018
Lawyer: Loren, Attorney replied 3 months ago
Loren
Loren, Attorney
Category: Legal
Satisfied Customers: 37,395
Experience: 30 years experience representing clients.
Verified

Thank you for using JA. I look forward to assisting you.

What is your specific legal question.

Ask Your Own Legal Question
Customer reply replied 3 months ago
No we have paid everything to date but we can not afford this ,
Lawyer: Loren, Attorney replied 3 months ago

What would you like to know?

Ask Your Own Legal Question
Customer reply replied 3 months ago
Sorry we can’t afford the payment either so please just my question
Lawyer: Loren, Attorney replied 3 months ago

What is the question?

Ask Your Own Legal Question
Customer reply replied 3 months ago
No we have a lawyer Kevin Heitke
Lawyer: Loren, Attorney replied 3 months ago

You have three basic options.

First, you can try to sell the unit and work out a short sale. That is where the unit would sell for less than is owed and the lender would agree to release the note and mortgage in return for the net proceeds of the sale.

Next is a deed in lieu of foreclosure. That is a negotiated agreement where you voluntarily deed the property to the lender without the lender having to go through the foreclosure process. As part of the negotiation, the lender would release the note and mortgage. You might also be able to get them to stipulate that the value of the property is the remaining balance of the mortgage. That way, you would not get a 1099 for the amount debt forgiveness.

The last option is to just walk away. It is the riskiest because you have no negotiated terms and the lender could have options regarding deficiency.

It is a good idea to have an attorney represent you. Lenders are notorious for giving unrepresented borrowers the run-around. A general business or debtor/creditor attorney could help you.

As for fees, there is no set rate and it should be negotiated upfront. The fees will be hourly and the cost will depend on the amount of time. Of course, the hourly rate for a large firm will be more than a storefront neighborhood attorney.

If you need assistance finding local counsel try Martindale Hubble (site rules prohibit us from referring specific attorneys) . Many attorneys themselves use this site to locate attorneys outside their jurisdiction or expertise:

http://www.martindale.com/Find-Lawyers-and-Law-Firms.aspx

It is a huge worldwide database searchable by location and specialty. The attorneys are all peer rated. So, they represent the top of the profession.

Ask Your Own Legal Question
Lawyer: Loren, Attorney replied 3 months ago

Did you have further questions? Have I answered your question? Please let me know.

Ask Your Own Legal Question
Lawyer: Loren, Attorney replied 3 months ago

If you have no further questions please remember to rate my service (5 Stars) so that I am credited by JA for answering your question and also so that I may close the question.

There is no additional charge to you for a 5 star rating of my service.

Thank you!

Ask Your Own Legal Question
Was this answer helpful?
Ask Loren Your Own Question
Loren
Loren
Loren, Attorney
Category: Legal
Satisfied Customers: 37,395
37,395 Satisfied Customers
Experience: 30 years experience representing clients.

Loren 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

24,353 satisfied customers

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

INFOLAWYER

INFOLAWYER

Attorney

20,727 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

42,358 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 J. Senmartin, Esq.

Guillermo J. Senmartin, Esq.

Attorney

292 satisfied customers

7+ years of experience handling various legal matters.

< Previous | Next >

Related Legal Questions
My house was in foreclosure briefly. However, I paid
Hi, My house was in foreclosure briefly. However, I paid everything that was past due, and now the lender has filed a motion to dismiss. Do I have to attend the hearing? Thanks!… read more
lucy7368
lucy7368
Juris Doctor
763 satisfied customers
Question about a buying a foreclosure at auction in NYS and
Question about a buying a foreclosure at auction in NYS and a title issue related to this … read more
Damien Bosco
Damien Bosco
4,199 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
42,358 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
Doctoral Degree
32,182 satisfied customers
If a house is in foreclosure can any thingbe done to get it
if a house is in foreclosure can any thingbe done to get it out … read more
DanLegal
DanLegal
Law Partner
Juris Doctor
326 satisfied customers
Are there any circumstances when a foreclosure sale has
Second opinion] Are there any circumstances when a foreclosure sale has taken place that the sale does not go through or can be reversed,rescinded or declared invalid? … read more
LegalGems
LegalGems
Juris Doctorate
11,587 satisfied customers
Are there any circumstances when a foreclosure sale has
Are there any circumstances when a foreclosure sale has taken place that the sale does not go through or can be reversed,rescinded or declared invalid? … read more
Barrister
Barrister
Attorney/Landlord/Realtor
Doctoral Degree
36,686 satisfied customers
I spoke to you a couple of times about foreclosure and
HI, I spoke to you a couple of times about foreclosure and stalling the conduct of sale. I am going to court this morning at 945. not sure how to best present myself. Should I say that I want more tim… read more
DanLegal
DanLegal
Law Partner
Juris Doctor
326 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
Damien Bosco
Damien Bosco
4,199 satisfied customers
I am in a foreclosure situation. Today was the last day to
I am in a foreclosure situation. Today was the last day to redeem. The lender is asking for an order for conduct of sale. I am not sure what happens next. … read more
DanLegal
DanLegal
Law Partner
Juris Doctor
326 satisfied customers
Received a Summons for foreclosure in Florida. Step mother
Received a Summons for foreclosure in Florida. Step mother deceased, not legally adopted, why would I get a Summons … read more
Loren
Loren
Attorney
37,395 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
10,287 satisfied customers
I have a question about foreclosure. Pennsylvania. There
Pennsylvania. There appears to be an auction at the end of June. … read more
Damien Bosco
Damien Bosco
4,199 satisfied customers
If my home went to foreclosure and was sold for more money
If my home went to foreclosure and was sold for more money then what was owed, including taxes and penalties, who gets the remaining money? … read more
Barrister
Barrister
Attorney/Landlord/Realtor
Doctoral Degree
36,686 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
Doctoral Degree
32,182 satisfied customers
During the divorce, a marital home was in a foreclosure.
During the divorce, a marital home was in a foreclosure. Soon after the divorce I found out I can actually handle the payments and keep the house, my ex however is refusing to sign a Quitclaim Deed so… read more
DrakeLAW
DrakeLAW
Juris Doctorate
1,037 satisfied customers
I am a renter and my landlord is in foreclosure and property
I am a renter and my landlord is in foreclosure and property is up for auction on 8 Feb what are my rights? … read more
Lori
Lori
Juris Doctor
1,101 satisfied customers
A property was bought at foreclosure the buyer has the
A property was bought at foreclosure the buyer has the receipt of the sale but was not recorded so the appraisal distinct has the property still in the owners name that was foreclosed on. How can I ge… read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
10,287 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