Sandra Margaret Emerson’s Answers

Sandra Margaret Emerson

Oak Park Foreclosure Attorney.

Contributor Level 11
  1. If we file Ch 7, should we reaffirm on our mortgage if we have some equity? Can the lender take our house if we don't?

    Answered over 4 years ago.

    1. Sandra Margaret Emerson
    2. Kevin Michael Cortright
    3. Mitchell Paul Goldstein
    3 lawyer answers

    Not only are the other attorneys correct that you do not need to reaffirm your mortgage, but in many Chapter 7 cases nowadays the lenders do not even bother to send reaffirmation agreements. So you may not even get a chance to sign one. After you file, uou should just stay current on your payments. The lender can, of course, foreclose on their interest if you fall behind in the future. But if you didn't sign a reaffirmation agreement, the lender can only take the house. Any monetary...

    1 person marked this answer as helpful

  2. Can I argue in my defense I never defaulted on a foreclosure?

    Answered 3 months ago.

    1. Daniel S Khwaja
    2. Emma Lee Scott
    3. Sandra Margaret Emerson
    4. William Paul Matz
    4 lawyer answers

    I agree with the other posters. It certainly can't hurt to sit down with a qualified foreclosure lawyer. Many will go outside of their immediate county, as long as you are not too far from their office. Bankruptcy may also be an option, but talk to a foreclosure attorney (preferably one who also knows bankruptcy) before you pull that particular trigger.

  3. How do my foreclosed condo just sell for less than what was owed?

    Answered 7 months ago.

    1. Thomas O. Moens
    2. Rick Lee Rogers
    3. Alan James Brinkmeier
    4. Sandra Margaret Emerson
    4 lawyer answers

    I agree with the previous answers, and wanted to add a couple of thoughts. Sometimes it is possible to work something out with the new owner so that you can rent the property for a bit. I've even seen new owners do contracts for deed with the previous owners. It's certainly worth talking to the new owner about these options.

  4. Can a mortgage company cancel my escrow? they said it was a business decision, i never heard nothing like this. is this legal

    Answered 8 months ago.

    1. James E Mitchem
    2. Alan James Brinkmeier
    3. Jason Dale Van Hemert
    4. Sandra Margaret Emerson
    4 lawyer answers

    Not a common occurrence, but it does happen. If I understand your statement correctly, you previously had an escrow and now the loan servicer has determined that you can pay the insurance and taxes on your own. If that's really the case, consider yourself lucky because you can set up your own bank account for this purpose. You will no longer be at the mercy of the loan servicer (many of which make escrow errors), will no longer be required to maintain an artificial cushion in the escrow...

  5. Can I sue for earnest money?

    Answered 8 months ago.

    1. Sara R. Howard
    2. Alan James Brinkmeier
    3. Thomas O. Moens
    4. Wendy D. Calvert
    5. Sandra Margaret Emerson
    5 lawyer answers

    More information is needed to answer this question. You may want to consider that sometimes the time, expense and aggravation of the suit will exceed the actual amount of damages. Suing an out-of-state corporation for $5,000 may not be worth the trouble.

  6. Answering a plaintiff's motion for summary judgment in our foreclosure

    Answered 8 months ago.

    1. Anthony Robert Scifo
    2. Alan James Brinkmeier
    3. John Paul Dickson
    4. Kevin Benjamin
    5. Sandra Margaret Emerson
    5 lawyer answers

    I agree with the previous posters. I think it is a very difficult proposition for you to answer a motion for summary judgment on your own. You would need a working knowledge of Rule 191, as well as the summary judgment standards. Even experienced defense attorneys lose these motions frequently, through no fault of their own. Also, it seems that you might be confusing an answer with a summary judgment response. These are two very different things. I highly recommend consulting with an...

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

    Answered 8 months ago.

    1. Thomas O. Moens
    2. Sandra Margaret Emerson
    2 lawyer answers

    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.

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

    Answered 9 months ago.

    1. Alan James Brinkmeier
    2. Anthony Robert Scifo
    3. Joseph Andrew Brabender IV
    4. Sandra Margaret Emerson
    4 lawyer answers

    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?...

  9. 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?

    Answered about 1 year ago.

    1. Henry Repay
    2. Judy A. Goldstein
    3. Lela Jeannette Davis
    4. Randy Eric Weinstein
    5. Shara D. H. Kamal
    6. ···
    6 lawyer answers

    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.

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

    Answered about 1 year ago.

    1. Judy A. Goldstein
    2. Karen Jackson Porter
    3. Sandra Margaret Emerson
    4. Adam J. Lysinski
    5. Carl H Starrett II
    5 lawyer answers

    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,...

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