Skip to main content
Richard Paul Zaretsky
Avvo
Pro

Richard Zaretsky’s Answers

559 total


  • Does a bank have to file an assignment of mortgage with the county?

    I just noticed that the bank never filed an assignment of mortgage to the current bank trying to foreclose on me. There is nothing in public record. But they did send me a fax copy of the assignment, and its dated AFTER the lis pendens was filed...

    Richard’s Answer

    Very recent case law has held that an assignment must be dated prior to the filing of the foreclosure suit. As such your case seems ripe for a motion to dismiss.

    But don't let this small victory encourage you too much. Eventually the lender will "get it right" and you need to explore your options for resolution of this financial issue.

    Seek out an attorney in your area with knowledge not only on the defense of a foreclosure but the solutions as well.

    See question 
  • Scheduled COA foreclosure with mortgage bank named as defendant. If I buy can the bank enforce the mortgage or is it cleaned off

    I am interested in investing into this property. Condo association has scheduled a foreclosure naming the owner and the mortgage bank as defendants. The mortgage is $125K and I am surprised why did the bank let it go into foreclosure? But accordin...

    Richard’s Answer

    • Selected as best answer

    Typically the first mortgage lender is not named in a foreclosure of a condominium / hoa association lien.

    However in your matter the lender is named. That likely is because the named lender is not a first mortgage lender but instead a 2nd mortgage lender who is not protected from the association lien.

    What this then means is that there may also be a first mortgage lien on this unit.

    You need to check the title to the property carefully. The association cannot override the lien of the first mortgage.

    See question 
  • Deficiency judgment

    In a granted deficiency judgment,(2013) when the plaintiff is not a bank, does it has to show (date) when the plaintiff a is entitled to collect?

    Richard’s Answer

    You asked a questions that is far short of any information. So this response is only a guess.

    It sounds like a lender (it does not matter if a bank or a duck) was granted a deficiency judgment in 2013. That judgment is a money judgment and it can be good for about 20 years. Essentially it is a lien on your name and can be a lien on other property you obtain in your name, under certain circumstances.

    See question 
  • Can I sue the seller of a house I am buying after closing?

    The seller of a house I am buying has delayed the closing for over 2 months due to title issues. Since it has taken so long our mortgage rate has increased and it will cost us over $30,000 over the life of the loan. Can we sue to recoup this $ si...

    Richard’s Answer

    Both answers that you receive the correct. However I would add that in most cases the seller has the opportunity to cure a title issue. The increase in the interest rate probably is not a damage that you can recover.

    See question 
  • Does my ex-wife need another lawyer for foreclosure defense?

    I am facing foreclosure. My ex-wife (I'n divorced) co-owns the house with me, and we are both named as defendants. If I get a lawyer to represent me, will she need to get one also? In other words, could the bank enter a default against her for not...

    Richard’s Answer

    You have asked two questions.
    Yes - a default will be taken against the non-responding party.
    And Maybe - there are situations where dual representation is appropriate, thus you could with each party's consent (you and your ex-spouse) use the same attorney. That attorney can explain to you the pros and cons.

    See question 
  • If my name is on the deed to a house, am I financially responsible if the home forcloses

    My name is on my Ex Husbands home, my name is not on the note. The bank that owns the note now is saying that if the home forcloses, that i will be held financially responsible and it will show up on my credit. I am not on the note and I surrend...

    Richard’s Answer

    Almost certainly if you are not on the promissory note and not on any subsequent modification document where you assumed financial obligations to the lender, then you have no financial obligation to the lender in the event of a deficiency from a foreclosure of the mortgage.

    There are exceptions and that is based only on you signing on some document where you assumed that obligation to the lender.

    Either you did not understand what they were saying or they did not understand your position on the mortgage and promissory note.

    See question 
  • I have been living in my home for thirty years my father passed away how can i take over the mortgage by myself

    The home is under both my parents name and i wanted to stay with the home and dont want to loose it. My mother just wants it out of her name. how can i continue with the mortgage and home

    Richard’s Answer

    First lets understand that this is NOT your home - it is your parent's home.
    The mortgage is in their name, not yours.

    So the question is can your mother transfer the home to you and can you take over the mortgage.

    The answer is not very simple. First you need to determine if the mortgage is one that is assumable. Likely unless it is a VA or some other special mortgage, it cannot be assumed.

    If the mortgage is not assumable and you transfer the home to yourself from your mother, you technically will be in breach of the non-transferability clause in the mortgage.

    However, this clause is seldom enforced, especially when there is an in-family transfer. In such a case you would be continuing with the mortgage but you would be constantly in fear of the lender saying the mortgage must be repaid in full.

    Perhaps you can get a new mortgage in your name? Ask your local bank if you qualify for a mortgage and find out how much.

    And seek the advice of a real estate attorney in Miami for the best answers for your particular situation.

    See question 
  • My mothers house is being forclosued due to a reverss mortgage. Can i make a bid for it at the auction

    I was pre approved for a loan

    Richard’s Answer

    Yes you can bid. However the foreclosure auctions are cash only and must be paid usually by 2 pm the day after auction. That will not allow financing.

    See question 
  • Am I able to purchase a house that is still in my dads name 7 years after he supposedly sold the house?

    My dad supposedly sold his home in 2008. He was heavily using drugs at the time. I tried to locate the person who bought the house from him to hopefully try to purchase it from new owner. In that search found that the home is still in my dads nam...

    Richard’s Answer

    You present a dilemma. It would seem that maybe your father thought he sold the house but in fact he only gave use of the house to someone? No deed being recorded is interesting. There may be a recorded deed but maybe the indexing of the document with the clerk of court was erroneous.

    You may want to go back and see who paid the real estate tax - although that could have been part of the deal to be able to use the house.

    If real estate taxes are not paid for more than 2 years then the property could be sold for unpaid taxes.

    You should see an real estate attorney to see if it can be sorted out. It may very well be that your father still is the legal and actual owner of the house.

    See question 
  • BOUNDARY LINE DISCREPENCY AND THE CITY'S RESPONSABILITY

    i was asked to get a permit to get a driveway put down, City requested survey. Survey shows that adjoining property is encroaching by 9 feet. Asserted my prescriptive easement rights etc. This is where it just got complicated. The boundary in q...

    Richard’s Answer

    You should look carefully at the Plat for your development. Likely there is some language that the City (or county if this was later annexed) and original developer put in to address the driveway issue regarding the green space.

    A real estate attorney may be a good place to get solid advice on finding out why this huge discrepancy exists. I'd put my money on the Plat language or some similar language of overlaps in an agreement regarding the Plat or development that appears in the public records.

    See question