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Sandra Margaret Emerson
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Sandra Emerson’s Answers

151 total


  • What kind of lawyer do i need for a mortgage buyout from my ex partner

    we are not married but both of our names are on the mortgage

    Sandra’s Answer

    I agree with the previous answer. This is basically a purchase of your ex-partner's half interest in the real estate. Once you agree on the dollar amount, your former partner would need to execute a quitclaim deed to you because you will be refinancing the property in your name only. You can retain a real estate attorney for this. Bear in mind that transfer taxes may apply to the transaction.

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  • Wage Garnishment Summons - Second Mortgage company refusing to make contact with us to negotiate payment after a foreclosure.

    after the foreclosure, the junior mortgage holder sent us a wage deduction notice in the mail, stating that the court has issued a wage deduction summons against my husband's employer. That's the only notice we received, nothing came from the cour...

    Sandra’s Answer

    I agree with the previous answer Morever, Mr. Wagman has an excellent point that the creditor has no incentive to negotiate at this point. And the attorney has no obligation to do so. The only way the creditor could garnish is if the creditor has a judgment against you. If you weren't served, you may be able to get the judgment vacated.

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  • Am I in any way responsible if I leave a house without paying taxes, insurance but rather desert it? I can't sell it.

    Have tried to sell it (vacation house but on a floodplain. I want to just leave it now as the expense of keeping it up--insurance, electricity etc. are not worth it to me now.

    Sandra’s Answer

    This question is actually very difficult to answer without more information. First of all, it's not clear if the home is in Northbrook or in another place. Second, it's not clear if you are asking generally if you are responsible for property taxes or if you also are asking other questions -- for example, do you want to know if you'd be liable to the municipality? Or the mortgage company? Or the IRS? When you say you can't sell it, do you mean you can't sell it and pay off what you owe? Or do you mean that you can't sell it, period? If you can't sell it, is it due to the property's condition? If it's mortgaged, have you tried a deed in lieu of foreclosure?

    I would suggest a consultation with a real estate/foreclosure attorney to determine your options. Your peace of mind would be well worth the cost of such a consultation. This is definitely something you'll want to deal with sooner rather than later. Good luck!

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  • Incomplete modification.

    dear sir or madam. last year I got my modification done to the mortgage company. that does not satisfy me . as they did not combine my loans into one loan which was originally a single mortgage from the previous mortgage company . they separate...

    Sandra’s Answer

    My colleague is right -- there is simply non way to answer your inquiry without reviewing the loan modification documents. I recommend a consultation with an experienced lawyer, who can most likely review it and give you advice in less than an hour. it would be well worth the money, in my opinion.

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  • Me and my mother own a two flat in Chicago she wants me to sign a quit claim deed, will I still be responsible for mortgage?

    We bought it together and I lived there for 5 years. I moved to a house in Rockford, she still lives there and is renting out the 2nd floor and basement. I am not seeing any proceeds or anything for the building, I just want to get off the buildin...

    Sandra’s Answer

    I agree with the previous answers. Additionally, I'd like to point out that if the loan is FHA, it's also possible for your mother to assume the loan in her name only.

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  • We filed Chapter7 3 years ago and mortgage was NOT reaffirmed. Foreclosure is NOT on our credit report. Can we get a mortgage?

    Can we go in for another mortgage on a new home?

    Sandra’s Answer

    Whether or not you can obtain a mortgage at this time depends on a number of factors, including but not limited to your overall credit history, your current credit score, the dollar amount of the mortgage you want, the amount you have saved for a down payment, and your current income.

    As of the date of this post (January 18, 2014), there is an FHA program called "Back to Work" that shortens the waiting period to buy a home to as little as one year after you’ve had a bankruptcy, foreclosure, deed in lieu of foreclosure, or short sale. For more information and to see if you qualify, visit backtoworkprogram.org.

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  • I believe that the house I am renting is on foreclosure, how do I find out?

    how do I know if the apartment is on foreclosure

    Sandra’s Answer

    There are a few ways you could go about it. As pointed out by one of my esteemed colleagues, you can check the court docket at www.cookcountyclerkofcourt.org. Select "online case info," then "full electronic docket search." Under "Division Name" select "Chancery." Then go to "Search by Name," select "defendant," and then type in your landlord's name. This may not work, though, if your landlord owns the building in another name, such as "Landlord's Building, LLC."

    Another way you can check is to type in the property address on Zillow.com. Often the foreclosure will be reflected here, because a "lis pendens" notice will have been filed that will indicate the property is in foreclosure.

    And, speaking of lis pendens notices, you can also locate such notices if you search the web site for the Cook County Recorder of Deeds. Once you enter the property information, you'll see everything that has been recorded against the property's title, including a lis pendens notice.

    Good luck.

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  • Is my traditional ira safe from my mortgage company, and can I purchase a condo ? I surrendered my home.

    I retired April 2013 and surrendered my home September 2013. I was told to fax a surrender letter and after this was done and my confirmation received, I was informed I will still go through foreclosure. I am 64 and retired early due to stress on ...

    Sandra’s Answer

    If you are asking if a traditional IRA is safe from a judgment creditor, the answer is yes. A traditional IRA is a retirement plan under the applicable provisions of the Internal Revenue Code of 1986, as amended. Please see the Illinois Statutes at 735 ILCS 5/12-1006.

    Your question makes it sounds as if, despite the surrender of the home, you are being pursued for a personal deficiency. If that is the case, I strongly recommend a consultation with a foreclosure and bankruptcy firm.

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  • I sent in my RMA application yesterday, would this stop foreclosure proceeding?

    I sent a loan modification package to my mortgage lender yesterday. Today,. I received a letter from a foreclosure firm stating that they are attempting to collect my entire mortgage amount, and that I have 30 days to respond to them to dispute i...

    Sandra’s Answer

    My esteemed colleagues are correct. Dual tracking is permitted in Illinois.

    As to whether you dispute the validity of the debt -- I recommend a consultation with a foreclosure attorney on this issue, so that the attorney can review the letter.

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  • Do I need an attorney for

    My mother qualified for the 2011 Senior Freeze Exemption (like homeowners exemption but better) for her residence in Cook County, IL. The deadline for this was early (March?) of 2012. She has qualified for this exemption for many years. This...

    Sandra’s Answer

    Your mother should file a certificate of error. Here is the link to the form from the Cook County Assessor's web site.

    http://www.cookcountyassessor.com/forms/HsCofE.pdf

    Also, do call the Assessor's phone number on the form. The Assessor's staff would be glad to answer any questions that you may have and provide guidance-- they are knowledgeable, helpful, and courteous.

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