I need a house worth about $300,000
Typically, non-resident house purchasers pay cash because it is difficult to qualify for a mortgage loan as a non-resident. If you can meet the underwriting requirements for a loan, you should be able to buy a house but you are in for a difficult road ahead of you. Good luck.See question
Acceleration = February 2008. Lis Pendens = July 2008. Dismissed "with" Prejudice = June 2011. New case filed (and voluntarily dismissed) = November 2013. How does the Plaintiff foreclose ?
I agree with Ms. Golant - the determination of whether a statute of limitations has run on the enforcement of a promissory note and mortgage is very fact specific. While the statute of limitations period is 5 years, the trick is determining on what date that 5 year period starts to run.See question
house on a short sale, house has a second mortgage on it, bank sent approval letter, title company just mention about the second which is not on the approval letter what will happen now realtor said she will find out, can a attorney tell me now
In order to close a short sale, you will need to obtain the consent of all lienholders. It sounds like the first lienholder, your lender, has consented to the short sale. Typically, the next thing to happen is to negotiate for short sale approval with the second lienholder, which often requires a copy of the approval letter issued by the first lienholder. Additionally, the approval of a short sale doesn't always mean that the lender(s) will take the net proceeds from the sale and waive the deficiency. This is often a term of the short sale approval that must be separately negotiated.
Short sales are often tricky - I hope you have a qualified real estate attorney in Jacksonville assisting you. If you do not , I urge you to get one.See question
The tenants haven't done anything wrong, They have paid their rent on time. I just want to use the in law apt for something else other then a rental. I have stated in the lease that it is a temporary living situation and that the lease can be t...
So long as there is no provision in the lease that requires a different period for service of the notice of termination of week to week lease, Section 83.57 states that the tenancy can be terminated by giving not less than 7 days' notice prior to the end of any weekly period.See question
My property is set to be foreclosed in February, I have a final judgment dated sept 18 2013, date for sale is February, besides bankruptcy with options do I have to avoid the bank coming after me for the difference for what I owe and for what th...
It's a little late to be asking the question. If you had been more proactive and had addressed the situation sooner, you may have been able to complete a short sale or deed in lieu with a waiver of deficiency. However, with only a few months to go before the foreclosure sale, you have left yourself very little time. To avoid a deficiency, you need to sell the property immediately. With a sales contract in hand, you may be able to get the lender to agree to reschedule the foreclosure sale to permit the completion of the short sale. You need professional help to get this done - today (not tomorrow or next week). Good luck.See question
My sons name is on mortage that he has defaulted on . property deed is in my name
If you are on the deed to the property, you would be an indispensable party to a foreclosure action and would need to be served with a copy of the summons and complaint.See question
BOA - Deed in Lieu?. Signed agreement & moved out as of August 1, 2013 yet the bank has "Not" removed my name from the property. I been checking the Broward county court and BCPA website nothing except on 8/30 BOA recorded "Release/Revoke/Satisfy ...
As you are experiencing, Bank servicers are often not the speediest in taking back property, even when it is in their best interest to do so. You are correct that the HOA and water bills continue to accrue to a property that continues to be titled in your name. I suggest that you call the servicer daily to bring attention to your transaction. The squeaky wheel often gets the most grease! Good luck!See question
Our house officially foreclosed at auction Sept 24 2012. We stopped paying in June of 2011 at the banks 'suggestion' in order to find us eligible for a short sale. My husband took a job in another state and we had bought a house there. We applied ...
A 1099-A or 1099-C is a form filed by the lender with the IRS for tax purposes to report transactions for those who have walked away from an underwater mortgage, have lost a property to foreclosure or have sold a property in a short sale.
Generally, when you sell a property, you would report the sale to the IRS on your tax return. In a normal sale, the closing attorney or title company would report the sale to the IRS using a form 1099-S. The 1099-A is the form filed by the lender that simply reports that the lender has acquired the property, either through short sale, deed in lieu or foreclosure. Form 1099-A reports the date of the sale and the value of the property on the date of transfer. You will need these numbers to report the transfer to the lender (either through deed in lieu, short sale or foreclosure) to the IRS on your tax return.
A 1099-C is typically filed by the lender with the IRS when the lender has issued a waiver of deficiency or has otherwise released you from repaying any amount of the debt. While it appears that you have a defense to the current collection efforts on the deficiency, you should speak with an experienced foreclosure defense attorney to be sure your rights are protected.See question
I received a lis Pendens/ Summons in Sept.2012. I filed a motion to dismiss on time in Oct 2012. The Plaintiff filed a motion for default in June 2013. The notice of default was not entered July 2013 because everything was filed on time. How lo...
The rules of procedure require that the Plaintiff file something - anything - at least once every 12 months. If there is no record activity for a period of 10 months, the court could send the Plaintiff a notice indicating that it intends to dismiss the case unless a filing is made within 60 days.See question
2 loan mods submitted, house listed as short sale for nearly a year with a last min change in potential buyers employment which cancelled the contract. Bank agreed to deed in lieu reserving the right to seek judgement after the house is turned ove...
Based on the facts that you have stated in your question, there should be no reason why you would not be able to qualify for a short sale or deed in lieu of foreclosure with a waiver of deficiency if your loan servicer is one of the big national servicers (Bank of America, Wells Fargo, Chase). If your loan is with a small community bank or a credit union, the waiver of deficiency would likely be very difficult to obtain under any circumstances - they do not participate in the government programs and do not receive any type of incentive for granting you relief from your underwater mortgage.
Your inquiry did not specify who was working with the servicer to negotiate the terms of a short sale or deed in lieu. If you have not hired an attorney who is experienced in dealing with these types of issues, you should hire one now, before you agree to anything with your lender.See question