Francis N. Soaveā€™s Answers

Francis N. Soave

Saint Clair Bankruptcy Attorney.

Contributor Level 10
  1. I am behind in my mortgage payments. Can I list on line 42 of means test? Had to quit paying when unemployment ended.

    Answered almost 2 years ago.

    1. Eric Charles Lewis
    2. Dorothy G Bunce
    3. Francis N. Soave
    4. Deborah F Bowinski
    5. Stephen M Trezza
    5 lawyer answers

    Yes. If you are having trouble passing the means test for chapter 7, professional advise would be in order.

    4 lawyers agreed with this answer

  2. Can I file for Chapter 7 again

    Answered almost 2 years ago.

    1. Harry N. Konst
    2. Francis N. Soave
    3. Dorothy G Bunce
    4. Jeffrey Michael McCarthy
    5. Mark Andrew Carter
    6. ···
    7 lawyer answers

    There may be alternatives to bankruptcy that will tide you over until you can file. Or they may substitute for filing. We practice in the Eastern District of Michigan, where a Pontiac case would be filed.

    4 lawyers agreed with this answer

  3. Is there a statue of limitations for a second mortgage to foreclose after it was discharged in chpt 7 in mi

    Answered almost 2 years ago.

    1. Stephen M Trezza
    2. Francis N. Soave
    3. Deborah F Bowinski
    4. Dorothy G Bunce
    4 lawyer answers

    There is no statute of limitations on foreclosure by advertisement of a second mortgage. If they have a valid lien, and you are in default on payments, they can foreclose. Chapter 7 does not strip the lien. As far as walking away from the first, it depends on how much the first lender will bid in the foreclosure sale. If they bid your full balance, they cannot sue you. Consider short sale.

    3 lawyers agreed with this answer

  4. Do I need a probate lawyer?

    Answered over 3 years ago.

    1. Francis N. Soave
    2. Christopher J. Berry
    3. James P. Frederick
    4. Michael S. Haber
    4 lawyer answers

    Your question implies your mother is living. My answer presumes this to be the case. Your mother co-owned the real estate in one of two ways. Either as a tenant in common, or by the entireties (joint tenant). if she was a tenant in common with your father, then she owns 1/2, and the estate owns half. If she was a joint tenant, she owns it 100%, as of the date of death. You should have the deed with both your parents names on it reviewed by an attorney. The omission to list you as...

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  5. What happens to debt after death?

    Answered over 3 years ago.

    1. Francis N. Soave
    2. James P. Frederick
    3. John R. Tatone
    3 lawyer answers

    All debts are enforcable under the written contract or agreement signed by the person who owes the money. If mom was the only signer on the card, then she was the only one liable for it. If there was a probate estate opened, then the card debt could be a claim against the probate estate. If no assets or property went to probate, then there is nowhere for that creditor (bank, card) to make a claim. They can't make a claim against assets you received outside of probate, by operation of law or...

    1 lawyer agreed with this answer

    1 person marked this answer as helpful

  6. What document is required to specify additional successor trustees beyond the original revocable living trust (RLT)?

    Answered about 4 years ago.

    1. James P. Frederick
    2. Francis N. Soave
    3. Steven J. Fromm
    3 lawyer answers

    An amendment to the trust must be prepared, and signed, witnessed and notarized in the same manner the original trust was signed.

    1 lawyer agreed with this answer

    1 person marked this answer as helpful

  7. Do intangible assets, described in the details section below, held jointly/with beneficiaries require distribution per will?

    Answered almost 2 years ago.

    1. Julie Aletta Paquette
    2. Gary Ford Allen
    3. James P. Frederick
    4. John F. Brennan
    5. Francis N. Soave
    5 lawyer answers

    Generally joint accounts go to the survivor outside probate. The will applies to assets in probate, generally speaking. See exceptions as noted by other attorneys. A full reading of the will by an attorney is advised.

    1 lawyer agreed with this answer

  8. Still living in house after charpter 7 discharge

    Answered almost 4 years ago.

    1. Francis N. Soave
    2. Thomas R. Morris
    3. Charles Ross Smith III
    3 lawyer answers

    The redemption period in Michigan is 6 months after the foreclosure sale, if the house is not abandoned, and the property is a city lot or similar size. Larger acreage may have a 12 month redemption period. The time period will be in the published notice. The Chapter 7 discharge doesn't affect the rights in foreclosure.

    2 people marked this answer as helpful

  9. Does the state of Michigan allow deficiency judgements for foreclosure?

    Answered about 4 years ago.

    1. Francis N. Soave
    2. Richard C. Angelo Jr.
    3. Theodore Lyons Araujo
    3 lawyer answers

    A mortgage lender in Michigan has a choice when it comes to foreclosure. Either foreclosure by advertisement, or jduicial foreclosure. The election of remedies doctrine exists in Michigan, so the lender may not use both. If the lender chooses judicial, it may request a deficiency judgment after sale. If the choice is advertisement, the lender may only seek a deficiency if it does not bid at the sale, or bids less than the full balance of the note. This is rare. Most residential lenders in...

    2 people marked this answer as helpful

  10. Is junior lien-holder entitled to excess proceeds from trustee sale if debt was discharged in ch7 bankruptcy?

    Answered about 4 years ago.

    1. Francis N. Soave
    2. Lonnie K McDowell
    3. Mark Hankins
    3 lawyer answers

    Neither the "charge off" report on the credit report, nor the discharge in bankruptcy strip, avoid, or release the lien against the property. Part of your question is ambiguous though. You wrote "trustee sale foreclosure". If this was a foreclosure sale during the bankruptcy, conducted after the 1st mortgage lender obtianed relief from the stay, then the 2nd mortgage would be wiped out or avoided by the foreclosure of the 1st. If this was a sale by the trustee in the bankruptcy, because...

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