Real Estate Law

Have Real Estate Law Questions? Ask a Real Estate Lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Real Estate Law
This answer was rated:

My Q concerns a house in PA.,purchased originally in 2005for

165,500....still owing ,$134,400..At present I...
My Q concerns a house in PA.,purchased originally in 2005for 165,500....still owing ,$134,400..At present I have tenants paying $800 on a month to month which does not cover the loan modification of $860 plus the$75 per month onHOA,The tenants have not been ideal,ammasing littering and subsequent fines to me from the HOA..The holder of the the loan is with Ocwen and I am behind 4 months.I purchased the house with only my name on the mortgage and deed .
My wife is in school full time in Kentucky,I go back and forth to New York as a chef ,but not ideal...Work has declined .Renting in New York,Renting in Kentucky ,paying a mortgage ,wife in school ,and we have a condo in Florida which we are both on the mortgage ...
I have been in communication with Ocwen as to what to do with the PA property
3 options are 1 .Retain
2 Short Sale
3.deed in lieu
4 foreclosure
I feel 1 is out ,2:short sale is hard and drawn out slog
I need to do the right thing for us ,and also protect our condo as it's a tangible asset ...Hat should b email my next move ?Thank you for your attention
Show More
Show Less
Ask Your Own Real Estate Law Question
Answered in 1 minute by:
8/15/2017
Infolawyer
Infolawyer, Lawyer
Category: Real Estate Law
Satisfied Customers: 59,007
Experience: Experienced lawyer
Verified

Hello and welcome. I am working on your answer and will be right back!

Ask Your Own Real Estate Law Question

are you able to evict tenant and secure a higher paying tenant?

Have you consider negotiating a refinance as well or seeing what a broker can sell it for?

Ask Your Own Real Estate Law Question
Customer reply replied 5 months ago
The cost I would incure as the house would need considerable fixing ...so a higher paying tenant would be subject to 5000 plus fix up..I had not considered refi but I'm not feeling like keeping it ..
Deed in lieu is not wise ?given the circumstances I laid out prior ? ,thanks D
Customer reply replied 5 months ago
Last evaluation of the house was $91,500..owed 134,400?...so short selling would also be difficult .Would Ocwen be willing to avoid foreclosure ,and swallow the diff by deed in lieu or shortsale Would I be on the hook for the shortfall ..please advise
Customer reply replied 5 months ago
Heres my situation..Have a home that's underwater in PA...I work part time in NY ..I am the sole signature on the mortgage
My wife is a full time student in.KY
We have a condo in FLA ..planning on it to retire ..paying a mortgage on it ..both on the deed
My PA has been rented out but rent does NOT cover the modified loan I'm behind 4 months and Ocwen has given.me the 3 scene scenario
1 short sale
2 deed in lieu
3 maybe modify again
4 foreclosure
I need to protect my FLA property ..
But not sure which way to turn and how much time I have ..
My tenant are month to month ..they are late with rent ...What to do ..thanks
Attyadvisor
Attyadvisor, Attorney
Category: Real Estate Law
Satisfied Customers: 7,734
Experience: 30 years of experience in General Practice, Real Estate Law and Estate Law.
Verified

I am a different Attorney. The Attorney that was assisting you opted out.

There are situations where a deed in lieu of foreclosure or short sale can be worked out without the borrower being on the hook for the shortfall.

Ask Your Own Real Estate Law Question
Customer reply replied 5 months ago
Thank you ...So it's a Fed Govt situation not a state to state case regarding short fall on the deed in lieu or shortsale
It is up to the lender. Your loan is governed by the laws of the State the real property is situated in. There are consumer protection agencies at both the State and Federal Government levels. Both State and Federal law apply to the mortgage loan industry. The Department of Housing and Urban Development sets out the Federal requirements. Each State has their own laws that govern at the State level. The lender has the ability to agree to a deed in lieu of foreclosure and waive any shortfall. This would be stated in the deed in lieu agreement. While some states have deficiency judgment capabilities they can agree not to exercise that right.
Ask Your Own Real Estate Law Question
http://www.nolo.com/legal-encyclopedia/short-sales-deeds-lieu-foreclosure-30016.html
Ask Your Own Real Estate Law Question
Please do not hesitate to ask me any additional questions that you may have with regard to this matter. If you would be kind enough to rate my service positively so I will receive credit from the site for my work I would appreciate it. Thank you for using JA!
Ask Your Own Real Estate Law Question

Are you online with me?

Ask Your Own Real Estate Law Question
Customer reply replied 5 months ago
Got an affirmative from Ocwen on the deed situation ..the short sale would incur a deficit that would reported to the IRS ...so it's a no brainer...thank you but must also.ask you the legal steps to have my tenants vacate in PA ?thank you

It would be my pleasure to answer a new question if you would be kind enough to rate my service positively. Thank you for your consideration.

Attyadvisor
Attyadvisor, Attorney
Category: Real Estate Law
Satisfied Customers: 7,734
Experience: 30 years of experience in General Practice, Real Estate Law and Estate Law.
Verified
Attyadvisor and 87 other Real Estate Law Specialists are ready to help you
Ask your own question now

Do your tenants have a written lease.

Ask Your Own Real Estate Law Question
Customer reply replied 5 months ago
Expired ...month to month now ..and have not yet paid this month

So you would be evicting them for non payment or terminating the month to month tenancy?

How long have they lived in the property?

Ask Your Own Real Estate Law Question

So you would be evicting them for non payment or terminating the month to month tenancy?

How long have they lived in the property?

Ask Your Own Real Estate Law Question
Ask Your Own Real Estate Law Question
Customer reply replied 5 months ago
but they also vacated in January of 2017 ..I am absentee ,didn't know ...and told me at end of January and could I take less money for rent ...175$ less ..and they never addressed the month of Jan missing

They have been out of the property since January 2017? Are you wanting to sue them for back rent?

Ask Your Own Real Estate Law Question
Ask Your Own Real Estate Law Question
Ask Your Own Real Estate Law Question

Forms and the process:

https://eforms.com/eviction/pa/

Ask Your Own Real Estate Law Question
Ask Your Own Real Estate Law Question
Customer reply replied 5 months ago
They moved back in in February absconding the January rent ...they also incurred fines for littering and which they never paid ..with me on the hook ..
As of last month they were there ,but as of Today I have not received Aug rent ..

I provided several links with the forms and the process.

Ask Your Own Real Estate Law Question
Ask Attyadvisor Your Own Question
Attyadvisor
Attyadvisor
Attyadvisor, Attorney
Category: Real Estate Law
Satisfied Customers: 7,734
7,734 Satisfied Customers
Experience: 30 years of experience in General Practice, Real Estate Law and Estate Law.

Attyadvisor 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

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Tina

Tina

Lawyer

5,436 satisfied customers

17 years of legal experience including real estate law.

Barrister

Barrister

Lawyer

11,126 satisfied customers

17 years real estate, Realtor. Landlord 26 years

Infolawyer

Infolawyer

Lawyer

59,007 satisfied customers

Experienced lawyer

Ray

Ray

Lawyer

7,559 satisfied customers

Texas Attorney for 30 years dealing in real estate

LawTalk

LawTalk

Attorney

6,207 satisfied customers

I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.

Dimitry Esquire

Dimitry Esquire

Attorney

5,526 satisfied customers

JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin

Ely

Ely

Counselor at Law

4,925 satisfied customers

Qualified attorney in private practice including business, family, criminal, and real estate issues.

< Previous | Next >

Related Real Estate Law Questions
I was recently turned down by HOA fo rent a house next door
I was recently turned down by HOA fo rent a house next door to where. I have rented for 4 1/2 years. (owner selling house) due to low credit score. I have both teachers and SS income & 3 times amt of … read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
7,385 satisfied customers
My HOA provided of Chart of Responsibilities, between HOA &;
Second opinion] My HOA provided of Chart of Responsibilities, between HOA &; Unit Owners.However, the are a few areas, such as Roof, the can be challenged if the roof causes inside (Wall Board, Painti… read more
Attyadvisor
Attyadvisor
Attorney
7,734 satisfied customers
My HOA provided of Chart of Responsibilities, between HOA &
My HOA provided of Chart of Responsibilities, between HOA & Unit Owners. However, the are a few areas, such as Roof, the can be challenged if the roof causes inside (Wall Board, Painting damage) cause… read more
Infolawyer
Infolawyer
Lawyer
59,007 satisfied customers
An HOA is putting a $2500 lien on an unimproved lot in Lake
An HOA is putting a $2500 lien on an unimproved lot in Lake County CA. My name as recorded is Dale Moore, Trustee. My ex wife is now trustee through a divorce settlement. The change was never recorded… read more
Attyadvisor
Attyadvisor
Attorney
7,734 satisfied customers
I am in a civil lawsuit with real property foreclosure
i am in a civil lawsuit with real property foreclosure against one of the big banks, the first filing was dismissed with prejudice we refiled and was granted in part and denied, the defendants filed s… read more
Lori
Lori
Juris Doctor
288 satisfied customers
I owe my HOA $600 and they put a lien on my house, can they
I owe my HOA $600 and they put a lien on my house, can they remove me from my house. I was given until January 5th to pay balance but health issues have come up and unable to pay then. Can pay around … read more
ScottyMacEsq
ScottyMacEsq
Doctoral Degree
17,321 satisfied customers
If someone purchases a HOA foreclosure, is there a time
second opinion] If someone purchases a HOA foreclosure, is there a time limit in which outside parties may make claims or liens against it?… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
My hoa recently put a roof on my house as it is their
My hoa recently put a roof on my house as it is their responsibility. in the process a lein was put on my home that i was not informed about and was in the process of refinancing when it was denied be… read more
Infolawyer
Infolawyer
Lawyer
59,007 satisfied customers
Homeowner (me) in dispute with HOA. A tree owned by the HOA
Homeowner (me) in dispute with HOA. A tree owned by the HOA has caused significant damage to my driveway. They acknowledge ownership, but have set a cap on reimbursement for driveway replacement of $5… read more
Attyadvisor
Attyadvisor
Attorney
7,734 satisfied customers
I purchased florida HOA foreclosure house on public sale.
I purchased florida HOA foreclosure house on public sale … read more
Infolawyer
Infolawyer
Lawyer
59,007 satisfied customers
I represent myself in a partition case of real property in
I represent myself in a partition case of real property in California Supreme Court. On Nov 13 the judge granted a ‘summary interlocutory motion' to divide the property. This was done in spite of my o… read more
Seattle Scott
Seattle Scott
Private practice attorney
995 satisfied customers
Can a board of an HOA buy a house and rent it out and
can a board of an HOA buy a house and rent it out and collect rent and then sell the house without notifying any of the 385 other homeowners … read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
How can a hoa force me to paint my house?, NV suburb of
Received paperwork like many of neighbors telling us what color to paint where to go to contract painter and need 5 signatures from surround neighbors, in itself seems silly that is only for self improvements not one u are forcing people to do. … read more
Infolawyer
Infolawyer
Lawyer
59,007 satisfied customers
The House Rules of co-op HOA state for non-emergency
The House Rules of co-op HOA state for non-emergency repairs, 5-30 notice must be given to shareholder to rectify problem. Low sprinkler pressure reported from neighbor due to an alleged broken sprink… read more
lucy7368
lucy7368
Juris Doctor
763 satisfied customers
Can hoa's prevent you from renting you house in Nevada as a
can hoa's prevent you from renting you house in Nevada as a vacation rental? Have done so in the past for 30 years … read more
Roger
Roger
Litigation Attorney
Doctoral Degree
26,871 satisfied customers
I was told that for a Georgia HOA letter, the HOA letter
Hi -- I was told that for a Georgia HOA letter, the HOA letter cost was capped by a law. Something like $35 or something like that. But I know the cost for the letters that closing attorneys must orde… read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
18,366 satisfied customers
If there is a first mortgage on a property, can the HOA
If there is a first mortgage on a property, can the HOA foreclose and take title to the property for non payment of dues? … read more
Roger
Roger
Litigation Attorney
Doctoral Degree
26,871 satisfied customers
We received a letter from the HOA that the color of house is
We received a letter from the HOA that the color of house is in violation. The problem is we bought this house 3 years ago and the color of the house sold to us is the same as today. … read more
Thelawman2
Thelawman2
Doctoral Degree
1,295 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