Real Estate Law

Have real estate law questions? Ask a real estate lawyer.

Ask a Lawyer,
Get an Answer ASAP!

I bought a house with my son to help him qualify for the…

Customer Question
I bought a house...

I bought a house with my son to help him qualify for the mortgage. I signed a quit claim deed 4 yrs ago and my son divorced and he signed the house to his ex. Now the house is in foreclosure because nobody paid the mortgage for the past 2 and 1/2 years. I am still on the mortgage because they were never able to sell the property due to a 2nd mortgage and tax liens that are on the title which I found out recently. Do I have any options here? Thanks

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

It's in NY and yes papers are filed and now I heard they are trying to do a short sale , I don't see it happening because there is a lot of debt on the house. Will I be responsible for any deficiency ? my son is thinking and his ex to file for bankruptsy but UI can not because I have a house of my own .

Lawyer's Assistant: Has any paperwork been filed?

Yes

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

Yes

Submitted: 9 months ago.Category: Real Estate Law
Show More
Show Less
Ask Your Own Real Estate Law Question
Answered in 5 minutes by:
9/6/2017
Real Estate Lawyer: Legal Eagle, Lawyer replied 9 months ago
Legal Eagle
Legal Eagle, Lawyer
Category: Real Estate Law
Satisfied Customers: 12,424
Experience: Licensed to practice before state and federal court
Verified

Hello! I am a licensed attorney, admitted to practice in state and federal court. I have a nearly 100% satisfaction rating so all that means is that you can count on me to help today. Do you mind if I take a moment to review your question?

Please keep in mind that our conversation does not include an attorney-client relationship and this is for general information purposes only. Additionally, most people believe a phone call is the easiest and most efficient way to handle problems. Accordingly, you will receive an automatic phone call request. If you would like a phone call, please click “Accept” when prompted.

Ask Your Own Real Estate Law Question
Real Estate Lawyer: Legal Eagle, Lawyer replied 9 months ago

Okay, thank you very much for your patience. I'm very sorry to hear about this situation. Unfortunately, unless you find a buyer for the home, then there aren't going to be very many options. What is likely to happen is that the home is going to be sold into foreclosure. This means that the county is going to auction off the property to the highest bidder. After that, if there is a first loan on the property then they will take the sale price. If there's anything left over, then it is going to go to the second mortgage holder. After that, it's going to be split between the remaining owners of the property. In this case, if you are no longer the owner of the property, but are still responsible for the mortgage, then you may still be on the hook for the remaining amount of the mortgage.

It’s not great, but sometimes, just settling the debt is the easiest thing to do. It doesn't always appear as if it's the easiest thing to do, but every single day lawyers across the country are explaining to their clients that if they just work on settling their debts in a way that makes sense for them and they are going to be in a better position in the long-term. To facilitate your situation, there’s a site that I’ve used in the past where you can find a good template for debt settlement (click here). It's a bit easier (and cheaper) than going through litigation and I have seen it be effective in the past. If you send this letter and they do not respond, then try sending it again to remind them that settling is really what resolving disputes is all about. Also, although I provided an initial answer, it’s important that you are 100% satisfied. If you feel I have done so, please rate me 5 stars and let me know if you have any follow up questions. As a side note, you can also click here in the future to request me individually.

Ask Your Own Real Estate Law Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a real estate lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Legal Eagle Your Own Question
Legal Eagle
Legal Eagle
Legal Eagle, Lawyer
Category: Real Estate Law
Satisfied Customers: 12,424
12,424 Satisfied Customers
Experience: Licensed to practice before state and federal court

Legal Eagle 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:

Barrister

Barrister

Lawyer

11,963 satisfied customers

17 years real estate, Realtor. Landlord 26 years

Infolawyer

Infolawyer

Lawyer

8,255 satisfied customers

Experienced lawyer

Ray

Ray

Lawyer

8,104 satisfied customers

Texas Attorney for 30 years dealing in real estate

LawTalk

LawTalk

Attorney

6,208 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

4,998 satisfied customers

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

P. Simmons

P. Simmons

Lawyer

3,540 satisfied customers

12+ yrs. of experience including real estate law.

< Previous | Next >

Related Real Estate Law Questions
We were served regarding a second mortgage that wasn't paid
We were served regarding a second mortgage that wasn't paid off with a foreclosure some years ago. … read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I have a question about a second mortgage. I filed
I filed bankruptcy 7 years ago kept the loan and house its at a,q0.75 … read more
Barrister
Barrister
Lawyer
Doctoral Degree
11,963 satisfied customers
We were unable to keep up payments on our second mortgage,
We were unable to keep up payments on our second mortgage, owned by Ocwen, back in 2013. Home was underwater at that time. Never received settlement offer from Ocwen. Amount owed at that time was $27K… read more
LegalKnowledge
LegalKnowledge
Juris Doctor
30,236 satisfied customers
How is the statue of limitations for a second mortgage lein
Hello, how long is the statue of limitations for a second mortgage lein that has been dormant for over 12 years in the state of Georgia? … read more
DamienJD
DamienJD
Attorney
Doctoral Degree
4,848 satisfied customers
I have a lien on my home in Phoenix from a second mortgage
i have a lien on my home in Phoenix from a second mortgage that was charged off and discharged in a chapter 7 bankruptcy and also Discover Bank has a lien for almost $10,000 which was also discharged … read more
Barrister
Barrister
Lawyer
Doctoral Degree
11,963 satisfied customers
I carry a second mortgage on a house we sold. We have been
I carry a second mortgage on a house we sold. We have been receiving monthly payments for the last few years. I have agreed to accept real estate … read more
DamienJD
DamienJD
Attorney
Doctoral Degree
4,848 satisfied customers
I live in CA. I haven't been paying on my second mortgage
Hi my name is***** live in CA. I haven't been paying on my second mortgage since 2010 I think it's been so long now that I forgot how long it's been. The original lender was Greenpoint Mortgage Fundin… read more
Attyadvisor
Attyadvisor
Doctoral Degree
8,064 satisfied customers
My question is: can a person put a second mortgage on a
Hi... my question is: can a person put a second mortgage on a house if his name is ***** ***** the deed or mortgage? … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
If I sign a second mortgage on my house but no money is
If I sign a second mortgage on my house but no money is transferred can I still be held liable for the contract I signed? Or is it safe to assume since no transfer of money happen the contract is void… read more
KLAW
KLAW
Juris Doctorate
2,193 satisfied customers
Ely, since this is a second mortgage and it has been
Ely , since this is a second mortgage and it has been transfered to a collections agency......someone we have no written contract with, does the statue of limitations still apply from date of first mo… read more
Ely
Ely
Counselor at Law
Juris Doctor
4,998 satisfied customers
If I have a non performing second mortgage on a property can
If I have a non performing second mortgage on a property can I initiate foreclosure on the property?… read more
LegalKnowledge
LegalKnowledge
Juris Doctor
30,236 satisfied customers
What happens in CA when a second mortgage holder forecloses
What happens in CA when a second mortgage holder forecloses before the first does? I've always thought that if that happens, it has to pay off and service the first. In my scenario, the second lien wa… read more
Attyadvisor
Attyadvisor
Doctoral Degree
8,064 satisfied customers
What happens in CA when a second mortgage holder forecloses
What happens in CA when a second mortgage holder forecloses before the first does? I've always thought that if that happens, it has to pay off and service the first. In my scenario, the second lien wa… read more
Ray
Ray
Lawyer
Doctoral Degree
8,104 satisfied customers
We have an outstanding $77000 on our second mortgage when
we have an outstanding $77000 on our second mortgage when our house foreclosed in 2015. the second shows that it was charged off and the account closed. we have not heard anything from them and the la… read more
Barrister
Barrister
Lawyer
Doctoral Degree
11,963 satisfied customers
I have not paid my second mortgage in about 8 years and it's
I have not paid my second mortgage in about 8 years and it's been sent to collections who continually harass me. My biggest question is if they tried to sue or foreclose on me could I use statute of l… read more
lucy7368
lucy7368
Juris Doctor
763 satisfied customers
Second Mortgage with a bank different than the first
Second Mortgage with a bank different than the first mortgage holder . Second Mortgage holder just sent me a letter stating I had 14 days to clear this up, or they would begin foreclosure proceedings.… read more
TaxAttorneytoHelp
TaxAttorneytoHelp
Owner
Doctoral Degree
2,542 satisfied customers
I need to get a second Mortgage on a property located in
I need to get a second Mortgage on a property located in Chicago , IL . How can I do it from Tucson , AZ ? … read more
Ray
Ray
Lawyer
Doctoral Degree
8,104 satisfied customers
I am the owner of an $87,000 second mortgage located in
I am the owner of an $87,000 second mortgage located in Alexandria, Virginia. The mortgage is in foreclosure due to default and I've just found out that the first mortgage is underwater. Here's how it… read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
8,255 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