Sheryl Ann Edwards’s Answers

When a lender accepts a deed in lieu of foreclosure, unless the lender agrees to waive its right to pursue a deficiency, it may still attempt to collect any deficiency against the borrower. Typically, the actual deed signed by the borrower in a deed in lieu of foreclosure situation contains language on the waiver of deficiency. Also, sometimes the lender will record a satisfaction of mortgage after it accepts a deed in lieu of foreclosure - you should check that satisfaction to see if it...

You can never have a judgment "cleared" - it is a public record that will remain in the official records forever. It sounds like the lender obtained a foreclosure judgment - or a judgment in rem to obtain ownership of the property (as opposed to a personal judgment against you for a deficiency). In Florida, a lender has 5 years from the entry of a final judgment of foreclosure to pursue a deficiency judgment against a borrower. Since you indicated that the foreclosure judgment was entered...

You should have an attorney now - there are some very subtle points that need to be addressed in your lease purchase agreement.

You are experiencing one of the most significant problems caused by parents conveying an interest in their real property to a child. Unfortunately for you, once you transferred a portion of your ownership in the property as joint tenants with rights of survivorship to your son, you now need his agreement and cooperation to add another child as another joint tenant. If you convey your remaining interest in the property to your daughter, you will terminate the joint tenancy and your son will...

Yes - you should hire an attorney to respond to the foreclosure complaint. Just because you are working on a short sale doesn't mean that the lender will not continue to prosecute its foreclosure action. As was indicated by Ms. Golant in the prior answer, you should make sure that your short sale approval letter contains a waiver of deficiency. Insist on seeing a copy of the short sale approval letter and read it carefully to be sure you will not be responsible for the amount of the...

For purposes of the facts as you have outlined them, I am assuming that this property is your primary residence and that you have no other significant debt issues other than your underwater mortgage. With these qualifications, it seems to me that your best bet would be to attempt a short sale on the property. However, generally speaking, you cannot be current on your mortgage for the lender to consider your short sale request. You ask what you should be worried about other than the effect...

A Notice of Voluntary Dismissal without Prejudice means that Citibank has dismissed the action that was filed against you but can file again in the future if they decide to further pursue collection for the debt and potentially a mortgage foreclosure. The fact that they "cannot find the loan" is interesting - if the lender cannot find the original promissory note and cannot establish the circumstances by which the note was lost, they will not be able to enforce the loan against you in a...

Unfortunately for you the answer is No. You had a right to cure your default in the rental agreement only for 3 business days after you received the notice of default that was posted to your door. Unless you have other defenses to the eviction action, the landlord will likely prevail in the eviction. However, by posting rent to the registry of the court, you are entitled to go to trial and explain your situation to the judge. If you make an agreement with the landlord to reinstate your...

Take a deep breath - you are VERY EARLY in the foreclosure process and have months, if not years before you can be removed from your property. The first step in the foreclosure process is for the lender or servicer to send you a "notice of acceleration" or "notice of default" giving you 30 days to pay a sum of money to cure the default. This sum is typically equal to the past due payments and a late fee. If you do not make that payment in 30 days you do not need to do anything else to...

Unless the affidavit has technical deficiencies (for example, not executed in the presence of a notary or not attesting to facts within the affiant's personal knowledge), I believe that you are needing to file an affidavit in opposition attesting to facts different than that stated in the opposing affidavit. If you are intending to file your own affidavit in opposition to a Motion for Summary Judgment, you must file and serve a copy of your affidavit at least 5 business days prior to the...