Margaret Agnes Palms’s Answers

Margaret Agnes Palms

Boone Foreclosure Attorney.

Contributor Level 6
  1. Can someone give you a house and then take the house back twenty years later?

    Answered 5 months ago.

    1. Margaret Agnes Palms
    2. James Robert Faucher
    2 lawyer answers

    "Telling everyone" doesn't constitute any type of legal right to property ownership. All transactions and records regarding ownership of real estate must be in writing. If the deed at the courthouse says you own the house, then you own the house. Your mother could conceivably bring an abandonment action in court, but since you keep possessions there, visit there occasionally, and have no intention of surrendering ownership, there would be no basis for her to have any claim to the property....

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  2. When buying property who pays surveying and closing costs, buyer or seller?

    Answered 4 months ago.

    1. Margaret Agnes Palms
    1 lawyer answer

    Per the standard North Carolina Real Estate Purchase and Sale Contract (used by NC Realtors and Attorneys) the Buyer would pay for the survey, if the buyer desires to have one. The contact also outlines other closing costs typically paid by each party. However this isn't set in stone, and buyer and seller can always negotiate who pays what at closing. If you are buying the property, the closing attorney will represent your interests, so he/she can ensure that you're getting good title. It is...

    4 lawyers agreed with this answer

  3. Ex let house go into foreclosure; house is now sold. Can I sue him for what I should have received in proceeds from the house?

    Answered 5 months ago.

    1. Margaret Agnes Palms
    2. Amber Stewart Billick
    3. Kim Christian DSouza
    3 lawyer answers

    This appears to be both a foreclosure question and a divorce/family law question. One point is that if your house sold before the foreclosure took place (hence the dispute about proceeds) then a foreclosure shouldn't be showing up on your credit report. If it is being reported as a foreclosure rather than just the missed payments due to your ex's not paying, it would be good to dispute the negative rating with the credit bureaus. The bank was likely paid in full at closing, so they should...

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  4. Foreclosure house purchasing

    Answered 4 months ago.

    1. Margaret Agnes Palms
    2. Douglas E. Portnoy
    2 lawyer answers

    The answer depends on what stage the foreclosure is in when you make your offer. If it is headed to a foreclosure sale it would likely be a "short sale" where you would buy from the owner with the lender's approval to accept less than the full amount owed on the loan. This is the most time consuming and uncertain way to go, since it will take months to find out if your offer is even accepted. Another way to buy a foreclosure is at the courthouse steps. His can be the most risky since you can'...

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  5. BOA fraudulently took my home and denied my modification

    Answered 4 months ago.

    1. Lynn Ellen Coleman
    2. Margaret Agnes Palms
    2 lawyer answers

    I'm always saddened to hear this kind of story about banks abusing homeowners with this "loan modification" tactic, as you try very hard to save your home. Although new laws require they give you more time to work on the modification, banks usually end up using this as an effort to squeeze out more payments from you before they begin the foreclosure process. It's very rare that a homeowner can get through the modification process. Now your bank seems to be scaring you with threats. They are...

    2 lawyers agreed with this answer

  6. Short sale

    Answered 4 months ago.

    1. Margaret Agnes Palms
    1 lawyer answer

    The main risk involves the usual very long time to get to closing. Depending on the lender and the offer, it can take many months to wade through the long short sale process. If you're willing to wait it out, you MIGHT get the home you want at a price you can afford. But there are no guarantees throughout the process. The other risk involves spending money on inspections, appraisals, etc. BEFORE you get a written short sale approval from the bank and everyone signs off on it. Best to wait...

    2 lawyers agreed with this answer

  7. Deed transfer: what records do I need for attorney who will be preparing deed transfer to family member?

    Answered 4 months ago.

    1. Kenneth Love Jr.
    2. Margaret Agnes Palms
    2 lawyer answers

    The good news is that the attorney can pull most of the information he/she will need from the county records. The preliminary documents can usually be found online by the attorney's office. You 're smart to go through an attorney to do the transfer. Any time you transfer title you should have the title carefully inspected to be sure it is free and clear from any encumbrances. Just because it's a family member doesn't mean you should skip this step. Locate any records, such as the original...

    2 lawyers agreed with this answer

  8. What are the deficiency laws in NC?

    Answered 4 months ago.

    1. Margaret Agnes Palms
    2. Sean Thomas Dillenbeck
    3. Lynn Ellen Coleman
    4. Chae A. Dupont
    4 lawyer answers

    Ms. Dupont is correct, you should definitely look into other options. These days with so many good programs, just waiting for the clock to tick away until they sell your home is unnecessary and will be devastating on your credit report, not to mention the danger of a deficiency judgment following you for years. If you can't afford to stay in your home through a HAMP loan modification (these can be rare) you're much better off with either a short sale or a Deed in Lieu (give it back to the bank...

    2 lawyers agreed with this answer

  9. I bought a double wide and played $10,000.00 down I own land land with no lens problem with moving it had to sell my land

    Answered about 2 months ago.

    1. Margaret Agnes Palms
    2. Douglas E. Portnoy
    2 lawyer answers

    I'm so sorry to hear this happened to you. Lenders will typically not work with you to resolve such problems with the property they loan against. They are just not set up to deal with things other than the actual paperwork that secures the debt on the money they gave you. They have now exercised their legal rights with that paperwork. The $40,000 is probably the difference of what they sold the trailer for and what you owed on the property, called a deficiency. If they have filed a lawsuit...

    1 lawyer agreed with this answer

  10. How likely am i to win my eviction process court hearing?

    Answered 3 months ago.

    1. Margaret Agnes Palms
    2. Barry W. Rorex
    2 lawyer answers

    It certainly looks like you have a good case to remove this unwelcome person from your home. You are likely going into small claims court for the eviction. One of the most important things is to be sure that this woman has been properly served with the eviction notice. You will need proof of service, i.e. some evidence that she has been made aware of your demand for possession and the court hearing and given the proper time to prepare and respond. Be sure to carefully read the form you filed...

    1 lawyer agreed with this answer