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Andrew March Lyons

Andrew Lyons’s Answers

65 total


  • Is it normal in forclosure procedings to list tenants names on the forclosure papers filed in court.

    We have a forclosure action going on for the home our daughter and her family live in. We put her name on the Deed so she could get homestead exemption on her taxes, but she isn't on the mortgage at all. Yet all the papers that are being filed wit...

    Andrew’s Answer

    The bank named her to foreclose out her interest in the property. If she did not sign the promissory note, she cannot be held responsible for any money associated with the mortgage. You should consider fighting the foreclosure.

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  • Can a mortgage company offer you a mod then take it back

    I have been receiving assistance from the fl hardest hit program for the last 7 months...out of the blue I received a solicitation from my current mortgage company telling me I am approved for a streamline modification..I would have to agree to t...

    Andrew’s Answer

    This is a very strange situation. Did the bank provide you anything in writing stating why they were not going to honor the trial plan? Did you make all payments timely? There is a lot of information needed here to figure out your best course of action. It seems that there is a modification out there for you that has been approved by your lender, but it may take some tenacity to get the bank to honor it. You should consult an attorney familiar with the modification process who can review your situation. Also, you should be able to get the hardest hit program to re-instate they partial payments, but where were these payments going if you were not paying the mortgage every month. As I said, there are many details to discuss here.

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  • What is the likelihood of deficiency judgments? What is the timeline for the judgments? What are my options?

    Property One: Final Judgment of Foreclosure filed September 2009, Certificate of Title (to bank) recorded November 2009, deficiency approximately $200K. Property Two: Final Judgment of Foreclosure recorded April 2011, Certificate of Title (to ...

    Andrew’s Answer

    • Selected as best answer

    The bank has five years from the date of the foreclosure sale to take the deficiency judgment if they are going to take one at all. You may just have to wait and see. However, if the bank does take the deficiency judgment, you may be "judgment proof" for the time being, but once judgments are recorded, they can last for as long as 20 years. Usually, my clients do one of three things if the bank takes the deficiency - 1) Do nothing, and just let the judgment sit and fight any attempts at asset collection or wage garnishment by claiming exemptions; or 2) Negotiate a payoff of the judgment; or 3) file bankruptcy. You should consult a real estate attorney to review your asset situation and discuss possible options.

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  • Hi TRYING TO MODIFY MY HOME LOAN ,WHAT CAN I DO ABOUT BANK AMERICA EVERY 7 DAYS ASKING FOR THE SAME INFO.TELL ME WHAT CAN I DO?

    I HAVE BEEN TRYING TO GET MY HOME LOAN MODIFIED AND THE BANK KEEP ON GIVING ME THE RUN AROUND AFTER I SEND THE PAPERS IN THEN IN 7 DAYS THEY ASK FOR THE SAME PAPERS BACK,LIKE THEY TOLD ME THAT THEY NEEDED MY 4506T ON LINE 3 IT SAYS CLEARLY TO PUT ...

    Andrew’s Answer

    This is precisely why I have an entire division of my law firm dedicated to processing these loan modification applications for my clients. Often, I will have an individual assigned to the file to work directly with my firm to make sure the documents were received, and to make sure any and all updated documents get submitted timely. Then begins the chase, so to speak, which requires daily communication with the underwriting department of the bank to get the modification application reviewed. I have found that the success rate jumps significantly once all the documents are confirmed as received by the bank, and the file has been confirmed as sent to underwriting for review. My clients tell me the exact same thing as you have experienced, and it almost seems that the banks make the process so difficult, most people give up before the modification application is confirmed as complete. The bank, then, can simply deny the modification application due the fact that they say they did not have all the documents. It is frustrating, I know, but you may consider utilizing the services of an attorney well versed in the modification process.

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  • My house still hasn't been forclosed on but I'm buying a house with my fiancé. Can they come after us both when we get married?

    How will me being on the title of our new home be effected when they foreclose on my old house?

    Andrew’s Answer

    As long as you homestead your new home, it should be protected from a deficiency judgement associated with any other property. The only person the bank can "come after" with a deficiency judgment is the person who signed the promissory note - I assume that your soon-to-be spouse was not on that promissory note. This means that your spouse is protected from that deficiency also. You should speak with a real estate attorney about how to properly title the property and how to properly homestead the property.

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  • If a home was surrendered in a bankruptcy and then abandoned, can the mortgage company sue for any property damage?

    The home was in the middle of remodeling (2 rooms were gutted and have no walls yet) when we lost our jobs so, of course money ran out, we surrendered the house when we filed bankruptcy and now live somewhere else. Can the mortgage company sue us...

    Andrew’s Answer

    While the bank can add the amount of property damage to the deficiency amount, your bankruptcy probably protects you from that deficiency. I would speak to the attorney that filed your BK and ask if the question, but the BK typically insulates you from any liability on a deficiency, including property damage, associated with the property.

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  • Can i get relocation assistance if living in a rental house that has been foreclosed on in miami florida, and where?

    rented for family. Did not get deposit and no longer paying them? I want to move before the bank evicts us .

    Andrew’s Answer

    You should contact the bank directly to see if you can get some relocation assistance. However, if the loan is a government backed loan, you may be able to take advantage of the protecting tenants at foreclosure act which can give you another 90 days in the property after the foreclosure sale. The bank could also be contacted to see if they will rent the property to you in the event they are the successful bidder at the foreclosure sale. You have options, but you should consider utilizing an attorney to review your situation and give you some options. Also, be aware that the current homeowner does have the right to begin eviction proceedings against you for the non-payment of rent.

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  • In the state of florida. can a judge ruled in favor of the bank if they cannot produce the mortgage note

    the bank is very stubborn. 2 years no modification yet. trial is set for this week.

    Andrew’s Answer

    The bank can re-establish a lost or destroyed promissory note as part of the foreclosure lawsuit, but that must be plead properly in the complaint and must meet certain statutory requirements. However, it is a fairly common practice for the banks to do this. That being said, the bank must still prove, at trial, that the original note was in their possession at the time it was lost or destroyed, and I have found that the person produced by the Plaintiff at trial may not have the requisite information to properly answer certain questions related to the whereabouts of the note. This, in turn, can ruin the bank's standing to bring the action in the first place, and could lead to a dismissal of the action, depending upon what happens at trial during your cross examination of the bank's witness. I would strongly recommend using an attorney for the trial.

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  • Moving during deed in lieu

    I am starting the deed in lieu process with my Chase bank. I currently reside in FL and want to return to IN asap. Must I stay in FL until the process is completely done? Is there a ballpark figure as to how long it could take ?

    Andrew’s Answer

    You should be in contact with the lender regarding this, but you should be able to sign any documents needed from anywhere in the county. You will need to coordinate with the lender to make sure they know where to send the documents. However, you should be at least trying to get a waiver of deficiency from the lender as part of the deed-in-lieu process. I take it that there are no second mortgages or other liens, or the lender probably would not have agreed to take the dded-in-lieu. You should consult with a real estate attorney who handles these matters to make sure there is a waiver of deficiency before you sign anything, or the lender could come after you for the difference between what the property is worth when they take the deed-in-lieu and the amount you owe. This is the deficiency I speak of, and this is why I recommend you seek legal counsel, to make sure you are protected from the deficiency.

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  • Can a water services provider keep me on the hook for bills when the new owner won't assume the service?

    My father lived in a retirement community with its own water services provider. He passed away last year, and the water provider refused to disconnect service or end the account until the new occupant assumed responsibility. The bank has assumed...

    Andrew’s Answer

    You should have the contract or agreement with the water company reviewed by an attorney. However, if there is no estate for your father, it may not matter to you at all. You cannot be held responsible for the bill, in all probability. I would send a copy of the death certificate to the water provider to at least let them know the date of death - also, any requests you made to shut off the service should have been done in writing. I recommend you speak to an attorney about this issue.

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