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David Rashid Sweis

David Sweis’s Answers

22 total

  • Kane County foreclosure & auction

    My house was foreclosed on and sold at auction in Kane County about 30 days ago. How do I know when I will actually be evicted? Do they have to give me notice or could the sheriff just show up at my door?

    David’s Answer

    After the sale of a property resulting from a foreclosure, the bank must return to court to allow the judge to approve the sale. You may get notice of this motion if you appeared in the case. Otherwise, contact the Clerk of the Circuit Court of Kane County and inquiry if there is an upcoming court date in your case.

    Once the judge approves the sale, he/she issues an order of possession (eviction order) but pauses the order for 30 days (60 days if its a nice judge). After the elapsing of that time, the Sheriff will be given the eviction order. Typically, the Sheriff will place a "24 hour notice" on your door which means that 24 hrs from that notice, the Sheriff may come at any time.

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  • We have 2 mortgages on our home but wish to do DIL. is it possible? can we limit damages to our credit/ fico?

    my wife just lost her job and student loans are due for repayment in 6 months. As it stands I have always had great credit until this hiccup. I want to minimize the damage to our credit but the bank is giving us the run around. whats the best cour...

    David’s Answer

    Typically, banks will not accept a Deed in lieu of foreclosure when the home has two mortgages against it. A narrow exception is made when the two mortgages are with the same bank. You can create the same effect (avoiding liability on the loan) by a short sale of the property or a consent foreclosure. Damage will be done to your credit no matter the option you exercise and the amount of impact is very hard to predict in advance. A lawyer should be consulted

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  • If I got a property lien, and how can I find out if it is used to force a sale of the property through a foreclosure.

    How can I check for the lien being used for forecloaure proceeding or not.

    David’s Answer

    Your question is not very clear, but if you're asking whether the lien holder can foreclose on a property and sell it, then the answer is yes, only if you have a lien that allows for this such as a mortgage or mechanics lien. If you are asking what will happen to your lien in a foreclosure, then the answer is it depends on the date you acquired the lien. The general rule is first in line first in right. So if you came before the bank then you must preserve your rights. If you came after the bank, then you must look into whether you can obtain priority over the bank. That way at a sale, you would maybe receive some of the proceeds. Given that it looks like you are from Chicago, please feel free to view my profile and contact my office to schedule an appointment.

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  • Is the landlord not the "legal owner" after the court signs "motion for judgement of foreclosure and sale"?

    Can the court can appoint a receiver to collect rents on behalf of the Bank? Meaning the Bank be the new landlord as no one will want to buy the building with all the violations....

    David’s Answer

    It looks like you are asking two separate questions. First, regarding the receiver, the short answer is yes the bank can collect rents. This is very common in foreclosures of commercial real estate. Typically it is known as a motion to appoint mortgagee in possession. They do not own the real estate at that point.

    Turning to the question in bold, In Illinois and most other judicial foreclosure states, a judgment of foreclosure and sale is not the final order and generally does not give the bank title. It only allows them to appoint a selling officer and sell the property. They then have to have the court approve the sale. Only at that point, once the sale is approved, does the bank become "legal owner." This is the procedure in Illinois. Please verify with a New York attorney if this is the case in New York.

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  • Tenants in foreclosure and "PROTECTING TENANTS AT FORECLOSURE ACT" of 2009

    I have a fixed-term lease on a home that was foreclosed upon in Nov. 09. The bank currently holding the deed to the house has said that my lease is invalid. I don't think this is correct: 1)I've had a lawyer examine the document and it is a val...

    David’s Answer

    In the State of Illinois, I move the court to stay the order of possession (the banks right to enter the property) pursuant to the Statute you referenced. There has been very little interpretation of the statute, so I would ask the court for the term of the lease and hope you get that or some other additional timeline. Whether this mechanism works in California, I do not know. However, if orders of possession are issued in California foreclosure cases, then I would say that a Motion to Stay the order of possession is your best bet.

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  • I have a really interesting question about international business law relating to compensation for destroyed investments

    Tanzania and Great Britain have, as between many other countries, an agreement which can be mediated in Washington whereby British investments can be compensated if destroyed in Tz and vice versa. In this particular case Tanzania provided for a p...

    David’s Answer

    The answer to your question is very much a question of British law and an issue arises as to whether there exists a bilateral investment treaty with Tanzania and Britain. In the U.S. some of its bilateral investment treaties call for the International Center for Settlement of Investment Disputes (ICSID). You may verify with the appropriate governmental ministry if such an option exists. Otherwise, consult the world bank's website as well as the United Nations website for text to determine if British nationals are afforded such a method for resolving investment disputes.

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  • Can foreclosure be wise choice to make?

    I work for Calif and have seen the first wave of layoffs. By seniority, I will be in the next wave, if there is one. Our home is severely underwater and we could rent a comparable home for half of my monthly pymt. Given the absense of other jobs i...

    David’s Answer

    The answer depends on how much you value your credit and your finances. In the event that you do not value your credit, foreclosure may be financially beneficial in the sense that you will improve your financial well being on a monthly basis. Renters are almost always not responsible for property taxes and insurance. If renting a comparable home will cut your existing payment in half, then it may be a wise move. However, your credit will suffer dearly.

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  • I am considering re-instatement of my investment property that went intio foreclosure 40 days ago

    I contacted a attorney who indicated he will provide mediation service (with my attendence in court) He told me that we could wrap the re-instatement costs on the back end of the loan and end up with a new loan. The mortgage company's law firm ...

    David’s Answer

    In foreclosure, your best option is to do what is best for you financially. You must think more with your head and less with your heart. If reinstatement will bust your budget, then it may not be the best option. Your question does not identify what services the lawyer will be offering, so I would find it prudent to ask what exactly you're paying for. Also, please be sure to find an attorney that specializes in this field as they will be most prepared for the banks shananigans.

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  • What can a USDA investigator do and not do in a investigation in Iowa

    What can a USDA investigator do and not do in a investigation in Iowa?

    David’s Answer

    In short, a lot more than you think. Depending on what they are investigating, the investigator can detain merchandise, seize merchandise, restrict sales and even order a recall. The also have wide latitude to take samples and test things to ensure compliance with their regulations. I wish your question contained a bit more detail, but what I have listed above is are just some of the things that a USDA investigator can do. I have had extensive dealings with the UDSA on a wide variety of matters affecting importers and distributors. If you are having an issue with the USDA, please contact an attorney.

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  • Steps needed to take in order to buy/sell from China

    I want to start selling these pills that I have been taking but I’ve learned that the cheapest place to buy them is from a supplier in China. The ingredients are all natural herbs so I think they are completely legal. However, I have no idea whe...

    David’s Answer

    Practically speaking, I would first try to procure a contact/broker that knows how to deal with China. There is an immense amount of fraud in China as well as qualitative product issues, so you want to make sure your broker knows where to find a manufacturer. Next, I would contact a customs broker (in the U.S.) and inform them that you wish to import these pills and your broker should be able to give you the requirements/permits needed to import the merchandise. I would gather that the FDA would regulate this product both at the border and within the channels of interstate commerce. You may even have to deal with other federal agencies. That is where your trade attorney will play a substantial role. Hope that helps.

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