Spencer Brent Lugash's Answers

How long do I have to move after foreclosure?

Once your house actually goes to sale the time you will have to stay in the home depends on a few things. First, was the house purchased back by the bank or by a third party. If the bank buys it back then typically they will first present you with a "cash for keys" offer. This is basically an offer of money to you to move out of the house by an agreed upon date (usually 2-4 weeks, but it is negotiable) and to leave the home in good condition. The most I have ever seen offered was $10,000,...

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How to prevent stripping of a lien

Stripping down a lien occurs in a Chapter 13 bankruptcy, not Chapter 7. The question is did you release your lien on the property? If so, and all you have is the judgment, then it is very likely that you will not be able to recover on the judgment at all. However, if you still have the lien on the property you will be able to take the property back through foreclosure once the bankruptcy is discharged. If you want to proceed with foreclosure prior to the discharge of bankruptcy you can file...

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My Landlord's House is Being Auctioned Tomorrow

Mr. Fink is correct in the time frames he has given. However, it sounds like they are irrelevant in that you mention the landlord plans on moving out asap. Assuming the house is purchased back by the bank they must allow you to stay through the remainder of your lease or a minimum of 90 days if you are on month to month. I suggest you have the utilities transferred into your name. You also may want to discuss your security deposit with the current owner. It is unlikely that he will...

What do i do if someone eles was given my cash for keys because he claimed he lived in my house?

The concept of "Cash for Keys" usually only applies when a foreclosed upon party still lives in the home. The idea is that the bank will offer some money to the former owner to leave the property in an agreed upon timeframe and in good condition. This helps the owner with moving expenses and saves the bank time and money by not having to go through the eviction process to remove the owner from the home. From your posting it seems you have already moved from the home. If that is the case you...

I have 2nd mtg @ 44k. Its a shortsale. 2nd wants 13k. 3k the 1st is paying. I need help is this legal?

Unfortunatley, this is a very common occurance. There is no "normal" when it comes to what the banks are willing to accept to release their lien. Each bank has different practices and every circumstance is different. One thing you might want to try is to see if the buyer of your home is willing to contribute towards the $10k. In many short sales the buyer is already getting a very good deal and they may be willing to put up some money to keep the deal from falling apart. Disclaimer:...

Lender using false tactics to discharge active participants out of HAMP program

As mentioned in the previous answer, whether you will get any help from the bank in this matter is subject to how helpful the person you talk to on the phone wants to be. I recommend all my clients send their payment to the bank with some kind of tracking information. More often than not the bank response will be one of "I just work here" and that the computer says its cancelled so there is nothing they can do. I strongly recommend you contact an attorney for review of any potential litigation.

Am I liable for Condo HOA dues during forclosure?

You would be liable for all unpaid HOA fees up until the foreclosure date.

I live in CA and after my live-in girlfriend moved to AZ, she sued me for half of my house (that I owned 5 years previously), sa

There is a lot of information missing in your questions. I would want to know how long the girlfriend lived with you and if she contributed towards the mortgage payment while she lived with you. Those two issues aside, given the information you did provide, there would be very few circumstances where she would have a legitimate claim on an interest in your home. If she has served you with a lawsuit I strongly suggest you contact an attorney. Disclaimer The content of this comment...

Who picks the arbitrator? seller / buyer? Who pays for the arbitration, the real estate company or the seller / buyer?

One of the other bits of information necessary here is who you are initiating arbitration against. I'm guessing you're talking about a dispute between you and the other party to the transaction. However, if the issue is between you and your real estate agent I would suggest initiating arbitration through the San Diego Association of Realtors. They are extremely professional and SDAR is regarded as one of the premier associations in the State in all aspects including risk managment, education...

Credit Reporting under Hamp Program - affect on credit score la ca

Mr. Weiss is correct. It is a requirement of HAMP that you enter into a trail modification period. What most people don't realize is that during the trial modification period you technically are making a payment that is less than the full amount. As such, not only will the bank report you as late throughout the entire trial period, you are getting further in arrears every month. Techinically there was a new code created for the banks to report to the credit agencies which indicates you are...