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Robert H Nagle

Robert Nagle’s Answers

69 total


  • My mortgage company wants to take my house saying I have not made my payments. If I show prof from the bank were do i stand.

    I sent my Oct.payment in it came back Insufficient funds along with a letter saying we had not made a payment since 8-1-2012 . We have since then sent a check for 2 months of house payments. I have called and asked if they recived the check of 2...

    Robert’s Answer

    To add to Mr. Leahy's answer, no matter how much confusion there may be, you have until 5 pm the day before a foreclosure sale to bring the loan balance current. But keep in mind you will also need to pay late fees, attorneys' fees and any other costs the lender has incurred in order to successfully prevent the lender from foreclosing.

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  • Am I responsible for Home Equity Line after Foreclosure?

    I was approved for HAFA from Chase for 1st Mortgage ($260,000). But 2nd Home Equity Line through Etrade refuses the $8,500 settlement offer for $73,000 and refuses HAFA in general. First mortgage will foreclose if they indicate they have to go...

    Robert’s Answer

    Assuming that the equity line was not used to purchase the property, then unfortunately you will remain liable for the second loan following foreclosure. It may be worth finding out what amount, if any, Etrade may be willing to settle at, since that would allow you to complete the HAFA transaction.

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  • Deed-in-lieu of foreclosure was approved. I just recd a full reconveyence from the title co-still liable for house?

    My deed-in-lieu of forclosure was approved 6-29-2012. I just received a Full Reconveyence from the title company (recorded at Maricopa County Recorders office on October 15, 2012) that the deed of trust has been fully paid and the deed of trust su...

    Robert’s Answer

    Absent something to the contrary set forth in the deed in lieu document, such as an agreement to continue to insure the property (unlikely since you are no longer the owner and thus do not have an insurable interest), you are no longer legally liable to maintain the house (that is now the bank's obligation) and it seems to me you could cancel your insurance tomorrow (why are you waiting the extra week?)

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  • Buying a short sale in Arizona. Seller and bank will not pay for past due HOA fees. What recourse does the buyer have.

    I am buying a short sale home on Gilbert, AZ and the bank has accepted the offer. Now I find out that the seller is past due $3000 on HOA fees. I can not reach the seller, the bank is not willing to negotiate and the HOA doesn't seem to care eit...

    Robert’s Answer

    First, what does your purchase contract provide? The standard form requires that the Seller cure these. From there, take a look at the default section and see what your remedies are. That will give you additional options, based on my first question, such as suing the seller post closing. Last, while the HOA can put a lien on the property, it is my understanding that they must do so prior to the Seller's ownership. After that, they are limited to suing the seller, since the obligation to pay is personal to the party not paying. Once you become the owner, you start fresh. But, it will be important to make sure the title company does not show the HOA debt, which is not presently an encumbrance, as an exception to title.

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  • My house is up for auction on 12/26/2012 How long do i have to vacate the house, once its been auctioned off.

    How long do i have once its been auctioned off. What happens if no one bids on it. The bank is now working on loan modification and they said if it goes thru, it will only be a temporary modification, then after they will see if permanent. Bu...

    Robert’s Answer

    Think of yourself as a tenant who's lease has expired. So, simply put, the new owner/landlord needs to give you a 5 day notice to leave. Following that, they will need to take you to justice court where a judge will order that you be evicted. Then, if you don't move out, the owner can have the sheriff forcibly remove you. So, you're likely "safe" for a couple of weeks, plus however long it may be for the sheriff. But unless you are thinking about bringing your loan current, the less stressful step is to move out by the foreclosure date.

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  • What is necessary for a cash sale of a home in Arizona?

    Not comfortable fully relying on the realtor in this case (not convinced he is on top of it all and I found the buyer.) Yes I know I can hire an attorney and MIGHT do so but I like to know what I'm looking at. The sales contract is standard. Yes, ...

    Robert’s Answer

    I totally disagree with the prior answers. The AZ form of purchase agreement is geared to protect the broker and the title company at the expense of both Seller and Buyer. I feel it is critical to protecting your rights, both during the deal and, frankly, afterwards (given the indemnities both the broker and title company demand and extract from unsuspecting parties). So many people dismiss using a lawyer, particularly realtors who don't understand the contract themselves and unbelievably believe the document to be "fair." That it is not.

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  • Can a personal loan NO ( dead of trust filed) fall under the anti-defiency law for Arizona in a forclosure?

    The loan was hand written and signed by all parties

    Robert’s Answer

    Unfortunately, no.

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  • Buying a home after foreclosure?

    We are in Arizona. Our house went into foreclosure in Mar 2010. At that time we have two loans 1st loan is 5/1 arm and second one is balloon loan schedule to pay in 30 years. It's a purchased money and it satisfies Arizona anti-deficiency, tw...

    Robert’s Answer

    • Selected as best answer

    Assuming the home you lost in 2010 qualified for anti-deficency protection (2.5 acres of land or less, 1 or 2 family dwelling), and both loans were purchase money, then the former lenders may not pursue any other asset other than the collateral, i.e., the former house lost to foreclosure. The new home will be perfectly safe from them.

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  • Is it legal in AZ to break my lease if I am buying a home? If so what is the law # that states it is legal.

    I am planning on buying a home. My need to break my lease is two fold. I now live in a 2 story town house. I have had 5 spinal fusion surgeries, An artificial hip, severe osteoporosis, osteoarthritis in my knee. I need to be living in a one story...

    Robert’s Answer

    It is not a "crime" to break a lease. In fact, we are all free to break any contract we enter into at any time. The question is, what damages does the non-breaching experience when you breach your lease? Without going into too much detail, if you decide to break your lease, the landlord has to attempt to keep his "damages" as low as possible. To do that, he/she has to go out and try to find a new tenant as soon as possible. If the rent paid by the new tenant is equal to or greater than the rent you are paying, then, in fact, the landlord is better off! Meanwhile, while the house is vacant, the landlord is entitled to continue to receive rent payments from you. Added to this is the uncertainty as to when you will end up finding a new home to move to. So, my non-legal advice is to see if your landlord will agree to allow you to have an early termination right, with perhaps you giving the landlord 30/60/90 days advance notice so that they have time to find a new tenant?

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  • I need to add my siblings to the Title of my home

    father just passed away, had beneficiary deed with my name on it only, need to add siblings to Title

    Robert’s Answer

    • Selected as best answer

    There are number of ways to do this (general, special and quitclaim deeds), but, more importantly, there are many ways to take title, each with their own consequences. So, the threshold question to me is, what are your (you and your siblings) plans with respect to your dad's house? If to sell it, I would recommend listing it for sale and then simply sharing in the proceeds. If one of you is to live in it, but you all own it, then you need a written understanding on what the long term game plan is. My point is that it is not as simple as just conveying the house out to the entire group.

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