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Lawrence M Garfinkel

Lawrence Garfinkel’s Answers

98 total


  • Removing Parents From Deed of Home?

    My parents are listed on the deed of my home, but are not on the mortgage. How would I get them removed from the deed?

    Lawrence’s Answer

    You need to speak to a NC real estate attorney, but in general you would need to have them sign a deed to you and that would remove them from the title to the property.

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  • What does a deficiency judgement do for foreclosure proceedings?

    I know this is one of the first steps in the process, but I'm not sure what it does exactly. .

    Lawrence’s Answer

    I am not an attorney in WA but typically a deficiency judgment is one of the last steps. If your property is worth less than what you owe then the lender may get a judgment against you for the difference and then use that to pursue either a bank account, your wages, or another property to compensate them for the loss.

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  • How can I help my sister be aware of foreclosure scams?

    My sister's house is going to be foreclosed on, and she already seems to be interested in what I feel like are scams. What can I tell her to be on the lookout for, both to be aware of and what she actually should be looking for? .

    Lawrence’s Answer

    She should either deal with it herself or hire an attorney from AZ to assist her. If she pays money to an out of state foreclosure company or modification company she will most likely lose money and not get anything to show for it. Make sure that she uses an attorney who is familiar with this type of law and she will be ok. Good luck.

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  • Do I have to have an attorney for my foreclosure?

    Attorneys are expensive, and I've seen cheaper foreclosure consultants available. What can attorneys do that consultants can't? .

    Lawrence’s Answer

    I agree with the prior answer that it is best to have an attorney. I would suggest avoiding anyone other than an attorney who is from your state. If you are going to try to negotiate an alternative either use a local attorney who has experience in that or do it yourself. Do not pay an out of state foreclosure company, that is almost always a mistake and a waste of money. Good luck to you.

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  • Does having private mortgage insurance do anything to change foreclosure proceedings?

    We have PMI, but are also in real danger of not being able to pay our mortgage. Will this help us during the proceedings in any way?

    Lawrence’s Answer

    PMI helps the lender if you default on your loan but it does not help you. Sorry.

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  • Do loan modifications actually help?

    We've been reading about loan modifications, and they seem to be hard to get, as well as not too helpful. Is it worth pursuing one? .

    Lawrence’s Answer

    A loan modification can mean reducing your interest rate or extending your maturity date and reducing your monthly payments. Depending on whether you want to keep your house and what the equity position is it certainly can be a good thing and you should look into it. Good luck.

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  • What is a short sale?

    It sounds like it might be able to help me avoid foreclosure, but I'm not exactly sure what it is. .

    Lawrence’s Answer

    A short sale is when you sell your house for less than you owe on it. This can only be done with the lender agreeing to accept the reduced amount. If you have more than one mortgage on the property then this can be very complicated but still can be worth looking into. Good luck.

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  • Can forclosure on rental property affect primary residence?

    I have two houses. One is my primary residence and another one is rental property. My primary residence has mortgage with Citibank(backed by FannieMae) and my rental house has mortgage with EverHome Mortgage Co. My rental house morggage balance is...

    Lawrence’s Answer

    You should talk to a local attorney who has experience in matter such as these and ask if Michigan allows "deficiency judgments". I believe that they do. If that is the case then the lender can get a judgment against you after the foreclosure for the difference between the amount owed to the lender and the amount of the sale. This could then be enforced against your primary residence. I am not a MI attorney and you need to speak to someone there to find out the state specific details. Good luck.

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  • .how do I get proof that i gave ntoice to a landlord on a lease agreement?

    I have an apt I rent for my daughter while in college, she is graduating this month and July 31,2012 the lease is up,. I have been trying to reach the landlord to give notice by phone and all i get is voicemail and no return calls. I was given a...

    Lawrence’s Answer

    Check the lease to see if there is any other address on there and if so send something there. Send the termination letter to the PO box by regular mail so it is not returned. That is all you can do. Good luck.

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  • What can I do to make the bank to agree with deed-in-lieu?

    The FMV of my house in CT is $152K. I have $172K of mortgage with Chase (backed by Freddie Mac) and $45K of 2nd mortgage. I relocated to CA for a new job and vacated from the house 2 months ago. The house has two issues: the exterior of the house...

    Lawrence’s Answer

    The second mortgage is going to prohibit you from doing a Deed in Lieu. You should try for a short sale and as stated above, try and find a real estate agent who is aggressive and experienced in doing short sales. You need to talk to the second mortgage holder first to see if they will work with you on this as they could prohibit you from completing a short sale also, but at least you have a chance. Good luck.

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