I agree with the above answers. If you believe your have a valid defense, you certainly have the right to argue that in court. However, this must be done at the right time. Regrettably, should you fail to file the correct documents at the right time, your defenses are not likely to succeed. I suggest you hire an attorney asap. Good luck.
I agree with the above answer. Not only will you be obligated to the bank until the full amount of the loan is repaid, but this might not necessarily help you get future loans, if other lender believe you over extended yourself financially. In short, you cannot remove yourself form the loan without the banks permission, and the chances of that happening are slim to none. Good luck
Agreed. The Security Deposit Return Act is applicable to 5 units or more (see 765 ILCS 710/1). My educated guess is that you probably will not have to return the security deposit, but more information is needed to answer your questions. Good luck.
If you did not re-affirm this loan, you have options. In deciding if you should sell your place, rent it, litigate the matter, or just walk away, you need to incorporate your overall financial condition. See an attorney asap. Good luck.
I agree. It seems that there is more to consider than just the foreclosure matter. You have to consider all the factors (ie assets, alterative living options, time frame, income, etc) before you can determine what options you have and what are the odds of success. I suggest you see an attorney. Good luck.
My experience is that you will have greater success of getting this resolved during foreclosure process. Keep track of all the documents that you receive. See an attorney asap regarding putting a plan together (i.e. litigation, bankruptcy, etc) You might be able to negotiate a consent foreclosure with the bank. Good Luck
If the association obtained a valid court order of possession, they have a right to evict you, and rent the unit. I do not think that the person posing as the owner has a right to do anything, let alone evict you. You seem to be paying rent to an association that has possession rights. I do not see why you would have to pay rent twice. You should see an attorney asap. Good Luck.
I agree, and keep in mind, the ownership of the unit along with the mortgage obligation stays with you throughout this process. The HOA has possession rights only. Depending on your financial position, and intent, this situation might force you into foreclosure or even bankruptcy. I suggest you see an attorney asap. Good Luck.