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Joseph W Creed

Joseph Creed’s Answers

5 total

  • Lost job 3 years ago. Almost lost my house. Cashed out my retirement to save my house and am currently living off of it.

    Am current on my mortgage payments and no job. Creditors (ccards) are now suing me for unpaid balances. Help? What should I do?

    Joseph’s Answer

    Looks like you will have to consider filing for bankruptcy protection. You should consult with an attorney ASAP.

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  • A trustee sale was conducted on 10-31-2012 and reverted to the beneficiary (a married woman, real estate agent). She changed

    the locks the following day. I (Trustor) have not removed all my belongings from the garage. Is it advisable to go to the police to request their help to enter?

    Joseph’s Answer

    Since you don't own the home anymore the police will not help you. The new owner is required to give you notice as to where, when, and how you can retrieve your belongings. There are other potential issues here with her just changing the locks without giving notice and following unlawful detainer processes but, if the home looked vacant, that issue becomes murky. I'd find out the purchasers contact info and send them a formal request to retrieve your belongings today. If you aren't given proper notice and she doesn't accomodate your request to retrieve your belongings, then you should contact an attorney.

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  • Received a letter from Real Time Solutions regarding my Heloc with B of A. Should I contact them ?

    Real Time Solutions has assumed responsibility for my Heloc after 4 mos of delinquency. I owe almost $200,000. My first is with GMAC for $670,000. Zillow estimates the house is worth $615,000 although a realtor thinks it's worth more. I have no id...

    Joseph’s Answer

    You are in a position where you may want to look at a Chapter 13. You could use this as a vehicle to strip your second mortgage. You would want to contact a bankruptcy attorney to obtain a consultation on how this would work but I think you should take a look at that option prior to contacting the second mortgage servicer.

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  • Will removing and adding parents' names on title trigger double gift tax?

    My primary residence has my parents names on title but not on the mortgage deed. I would like to take their names off the title on my primary residence and add their names on an investment home that I recently purchased, which they would like to ...

    Joseph’s Answer

    There is a value to each transfer here. However, the gift tax would only be triggered for the difference between the value of the transfers you speak of if they were done together. But, you can utilize the unified credit if the value of the transfer in the end is above the annual exemption amount which would decrease the unified credit available to the estate of the party here who utilized it.

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  • Do I need a real estate lawyer.

    My father died a couple of years ago, he had a home in another state that a family member quit deeded into his name 2 months before his death, but the deed ask what % do you want to give up, and that part is not signed by my father. He had 2 cars ...

    Joseph’s Answer

    Your question is very complex and the correct answer will likely depend on fleshing out more details from you and seeing documents. If your father was married to someone other than your mother then you will likely have a rights here in certain property. You will need to determine whether probate was started and you just weren't notified or if probate was never started. You will need to contact an attorney and give more details in order to obtain a more detailed answer to your question.

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