Foreclosure Questions & Answers by State
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Foreclosure Questions & Answers
Q: Has anyone ever heard of Keep Your Home California asking for there money back form a server before?Well Caliber Home
1 Answer
| Asked
in
Real Estate Law, Consumer Law and Foreclosure
for
California
on
Answered on Apr 15, 2016
Answered on Apr 15, 2016
Richard Samuel Price's answer
Your legal matter is complex enough to warrant a visit with an attorney to sort out what happened and what you can do about it. Contact an attorney for a full consultation.
Your legal matter is complex enough to warrant a visit with an attorney to sort out what happened and what you can do about it. Contact an attorney for a full consultation.
Q: My home is in foreclosure and will go to sale in June. After sale when will they need to be out? Their rent is < FMV
Tristan Kenyon Schultz's answer
With some limitations, the bank must either assume the tenants until the lease term expires or the bank must offer a buy-out to the renters to terminate the lease early. I recommend that you notify the renters of the anticipated foreclosure because AND notify the bank of the renters because the renters are undeniably third party beneficiaries to the property.
With some limitations, the bank must either assume the tenants until the lease term expires or the bank must offer a buy-out to the renters to terminate the lease early. I recommend that you notify the renters of the anticipated foreclosure because AND notify the bank of the renters because the renters are undeniably third party beneficiaries to the property.
Q: i live in CO If I foreclose on a house and they sell,but dont get enough, can they come after me to get the rest ?
Tristan Kenyon Schultz's answer
Yes, a lender can pursue a deficiency judgment (collect the difference between the loan amount and the sale price in foreclosure) in Colorado provided that certain conditions are met (if you received notice from a court, then the requirements are met). If the deficiency amount is substantial or there is no possible way for you to pay it off, you may want to consider bankruptcy. If you do want to file for bankruptcy, I recommend that you contact a bankruptcy attorney.
Yes, a lender can pursue a deficiency judgment (collect the difference between the loan amount and the sale price in foreclosure) in Colorado provided that certain conditions are met (if you received notice from a court, then the requirements are met). If the deficiency amount is substantial or there is no possible way for you to pay it off, you may want to consider bankruptcy. If you do want to file for bankruptcy, I recommend that you contact a bankruptcy attorney.
Q: if I am 2 years in to a 10 year lease and the house is in foreclosure, would lease be honored if sold or foreclosed on?
1 Answer
| Asked
in
Consumer Law, Foreclosure, Landlord - Tenant and Real Estate Law
for
Georgia
on
Answered on Mar 30, 2016
Answered on Mar 30, 2016
Julie A. Rice's answer
It is up to the new owner. The only person who will make that decision is the new owner so when that person appears, that is the person that you have to ask.
It is up to the new owner. The only person who will make that decision is the new owner so when that person appears, that is the person that you have to ask.
Q: We purchased a home through short sale, how long do the occupants have to vacate? They also have no rental agreement.
Richard Samuel Price's answer
Without a lease agreement, the tenants are month to month. You can serve a 30 day notice to vacate if they have been there less than a year. If they have been there a year or longer, then you will have to serve a 60 day notice to vacate.
Without a lease agreement, the tenants are month to month. You can serve a 30 day notice to vacate if they have been there less than a year. If they have been there a year or longer, then you will have to serve a 60 day notice to vacate.
Q: We just purchased a home that was a short sale, how long do the occupants have to vacate the property.
Richard Samuel Price's answer
Without a lease agreement, the tenants are month to month. You can serve a 30 day notice to vacate if they have been there less than a year. If they have been there a year or longer, then you will have to serve a 60 day notice to vacate.
Without a lease agreement, the tenants are month to month. You can serve a 30 day notice to vacate if they have been there less than a year. If they have been there a year or longer, then you will have to serve a 60 day notice to vacate.
Q: If buyer waves rights by breaking contract, does the lender have to give him time to pay off loan before foreclosing
Julie A. Rice's answer
There are certain things that need to be followed in every foreclosure whether or not the foreclosure is voluntary or not. Then look at the contract and that will spell out how much time is required to give the borrower time to pay off the loan, if an,
There are certain things that need to be followed in every foreclosure whether or not the foreclosure is voluntary or not. Then look at the contract and that will spell out how much time is required to give the borrower time to pay off the loan, if an,
Q: In the state of Florida, how long does it take to foreclose on a home?
Shirlarian Williams' answer
It depends. If the foreclosure is uncontested and there are only a few defendants the process will be a lot quicker than if it's a contested matter. I've seen foreclosure cases resolved in six months and I've seen some take six years. There's no real time frame. I would suggest speaking with a foreclosure attorney in your area, they may be able to give you an estimate based off of the complexities of your case and how quickly the Judges are going through the foreclosure dockets in your area.
It depends. If the foreclosure is uncontested and there are only a few defendants the process will be a lot quicker than if it's a contested matter. I've seen foreclosure cases resolved in six months and I've seen some take six years. There's no real time frame. I would suggest speaking with a foreclosure attorney in your area, they may be able to give you an estimate based off of the complexities of your case and how quickly the Judges are going through the foreclosure dockets in your area.
Q: I am renting a home that is about to go into foreclosure. How long will I have to move out?
Shirlarian Williams' answer
You do not have to vacate the property because it is in the middle of a foreclosure proceeding. However, if the property does get foreclosed upon, you would most likely need to work out an agreement with the new owner or vacate the property. It's important to note that since you have a month to month lease, the landlord may terminate your lease at anytime by providing you with a written 15 day notice to vacate.
You do not have to vacate the property because it is in the middle of a foreclosure proceeding. However, if the property does get foreclosed upon, you would most likely need to work out an agreement with the new owner or vacate the property. It's important to note that since you have a month to month lease, the landlord may terminate your lease at anytime by providing you with a written 15 day notice to vacate.
Q: Can the bank foreclose on my home, if I'm the only one on the deed and my ex husband is the only one on the mortgage?
Matthew Williams' answer
Regardless of the ownership arrangement, the bank can start foreclosure proceedings if you do not make your payments.
Regardless of the ownership arrangement, the bank can start foreclosure proceedings if you do not make your payments.
Q: My parents died left the house to us three kids. They had a lot of debt at the end. does house have to go. I
1 Answer
| Asked
in
Foreclosure, Probate and Real Estate Law
for
California
on
Answered on Feb 27, 2016
Answered on Feb 27, 2016
Richard Samuel Price's answer
Keeping the house will depend on what money is available to pay off any creditors of your parents. If there isn't enough money to pay off the creditors, then the house will have to be sold in order to pay the creditors. If you want the house to yourself, you may have to buy out your sibling's share. You'll have to initiate a probate petition to find out what debts that your parents left behind and then distribute the assets to their heirs.
Keeping the house will depend on what money is available to pay off any creditors of your parents. If there isn't enough money to pay off the creditors, then the house will have to be sold in order to pay the creditors. If you want the house to yourself, you may have to buy out your sibling's share. You'll have to initiate a probate petition to find out what debts that your parents left behind and then distribute the assets to their heirs.
Q: If the house I'm renting is about to be auctioned off to the public, do I have any legal standing to fight it?
Adam Studnicki's answer
More info is needed. Talk to a real estate or tenant's rights lawyer ASAP.
Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is only general information. It is NOT legal advice, and it may not work for your specific situation. It is impossible to evaluate a legal problem without a comprehensive consultation and review of all the relevant facts and documents. I strongly encourage you to consult with a local lawyer to get legal advice...
More info is needed. Talk to a real estate or tenant's rights lawyer ASAP.
Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is only general information. It is NOT legal advice, and it may not work for your specific situation. It is impossible to evaluate a legal problem without a comprehensive consultation and review of all the relevant facts and documents. I strongly encourage you to consult with a local lawyer to get legal advice...
Q: Is a settlement awarded to victims of unlawful foreclosure practices, resulting in loss of real property, taxable?
Zaher Fallahi's answer
Since August 1, 1998, generally, settlements and awards for only “personal bodily injury” is exempt from taxation under the IRC 104. I think your case should be looked into, and am not sure if you are eligible. The information presented herein is for general purposes only. It is not intended to, and may not be construed as legal, tax or accounting advice. For specific advice, please consult a tax attorney in person. Good luck. Zaher Fallahi, Tax Attorney, CPA (California).
Since August 1, 1998, generally, settlements and awards for only “personal bodily injury” is exempt from taxation under the IRC 104. I think your case should be looked into, and am not sure if you are eligible. The information presented herein is for general purposes only. It is not intended to, and may not be construed as legal, tax or accounting advice. For specific advice, please consult a tax attorney in person. Good luck. Zaher Fallahi, Tax Attorney, CPA (California).
Q: Garn St Germain Act of 1982
Leonard R. Boyer's answer
The full title of the law you are referring to is "The Garn-St Germain Depository Institutions Act of 1982" This act provides for the Federal preemption of any limitations on the exercise of due-on-sale clauses imposed by state law. The fact that one is residential and the other is commercial may complicate this matter and the applicability of the Act. Your Estate attorney is not a Mortgage Foreclosure Defense Attorney, so it does not surprise me that he did not know of the Act. To properly...
The full title of the law you are referring to is "The Garn-St Germain Depository Institutions Act of 1982" This act provides for the Federal preemption of any limitations on the exercise of due-on-sale clauses imposed by state law. The fact that one is residential and the other is commercial may complicate this matter and the applicability of the Act. Your Estate attorney is not a Mortgage Foreclosure Defense Attorney, so it does not surprise me that he did not know of the Act. To properly...
Q: My sister signed up with a company to help her out of foreclosure
Adam Studnicki's answer
To advise about a written agreement, the document must first be reviewed.
Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is only general information. It is NOT legal advice, and it may not work for your specific situation. It is impossible to evaluate a legal problem without a comprehensive consultation and review of all the relevant facts and documents. I strongly encourage you to consult with a local lawyer to get legal advice...
To advise about a written agreement, the document must first be reviewed.
Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is only general information. It is NOT legal advice, and it may not work for your specific situation. It is impossible to evaluate a legal problem without a comprehensive consultation and review of all the relevant facts and documents. I strongly encourage you to consult with a local lawyer to get legal advice...
Q: When foreclosed on , can the bank deny selling the home back to the owner if they have a mortgage commitment for owed
Leonard R. Boyer's answer
The bank can sell the property to whom ever they chose. No, the 1099G is a tax form. The property sounds like it was already sold at sheriff sale. The only way to properly answer your question is with an in person consultation with an experienced mortgage foreclosure/bankruptcy attorney. Good luck.
The bank can sell the property to whom ever they chose. No, the 1099G is a tax form. The property sounds like it was already sold at sheriff sale. The only way to properly answer your question is with an in person consultation with an experienced mortgage foreclosure/bankruptcy attorney. Good luck.
Q: I bought a house a couple years ago never received any paperwork at closing now they want to foreclose help!!!!
Julie A. Rice's answer
Sounds like you were involved in a scam. First, closings take place at banks or attorneys offices and you receive stacks of papers. My guess is you were told a house was in foreclosure and someone is pocketing your money. You better check out who you have been sending money to and make sure you haven't been the victim of fraud. If you are suspicious go to the district attorney with this information.
Sounds like you were involved in a scam. First, closings take place at banks or attorneys offices and you receive stacks of papers. My guess is you were told a house was in foreclosure and someone is pocketing your money. You better check out who you have been sending money to and make sure you haven't been the victim of fraud. If you are suspicious go to the district attorney with this information.
Q: do u still have to pay space lot if land is under forecloser??
Robert L. Mauger Jr.'s answer
While the property is in the foreclosure process, you still need to pay the landlord or property manager rent. However, given the circumstances you describe, you may have other claims against your property manager. You should talk to your own attorney before withholding rent. Generally, you should refuse to pay rent without a written rental receipt.
While the property is in the foreclosure process, you still need to pay the landlord or property manager rent. However, given the circumstances you describe, you may have other claims against your property manager. You should talk to your own attorney before withholding rent. Generally, you should refuse to pay rent without a written rental receipt.
Q: How do I get standing to file Motion to Dismiss on my elderly mothers foreclosure onhome? I reside with her as caregiver
Adam Studnicki's answer
Maybe there are some low income or pro bono law assistance groups in your area.
Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is only general information. It is NOT legal advice, and it may not work for your specific situation. It is impossible to evaluate a legal problem without a comprehensive consultation and review of all the relevant facts and documents. I strongly encourage you to consult with a local lawyer to get legal...
Maybe there are some low income or pro bono law assistance groups in your area.
Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is only general information. It is NOT legal advice, and it may not work for your specific situation. It is impossible to evaluate a legal problem without a comprehensive consultation and review of all the relevant facts and documents. I strongly encourage you to consult with a local lawyer to get legal...
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