David R. Barnes’s Answers

David R. Barnes

Kenosha Real Estate Attorney.

Contributor Level 2
  1. Pay off second mortgage right away after foreclosure?

    Answered over 2 years ago.

    1. David R. Barnes
    2. Steven Anderson Leahy
    2 lawyer answers

    Generally mortgages contain provisions that if the property is sold or foreclosed upon, the outstanding loan obligations secured by the mortgage become immediately due and payable. It is important to review the terms of your mortgage to see if it contains such a provision.

    1 lawyer agreed with this answer

  2. Who do I pay my rent to when my mortgage company is in foreclosure? The bank or the management company

    Answered over 2 years ago.

    1. Deborah Ann Stencel
    2. Alan D. Walton
    3. Steven Anderson Leahy
    4. David R. Barnes
    4 lawyer answers

    Atty Walton generally has a good answer. Rather than starting a separate interpleader action, you may simply be able to join the foreclosure action as a third party and ask the court to decide where the rent should go. This would be a lot easier and less expensive for you. Some judges will permit this, ohters will not - depending on the judge and local court rules. It is worth a try.

  3. Can New York lender come after Wisconsin property?

    Answered over 2 years ago.

    1. Nick Passe
    2. Deborah Ann Stencel
    3. David R. Barnes
    3 lawyer answers

    Your question raises several issues. Is there a deficiency judgment being sought by the mortgage holder? If not, end of story. In a short sale with the borrower leaving the state, there may not be so that the redemption period can be shortened. Check on that first. Generally, when one seeks to enforce a judgment obtained in a different state, the obligation arises out of the state where the judgment was obtained. Therefore, if the mortgage holder is seeking a deficiency judgment, you...