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Joshua Andrew Smisko

Joshua Smisko’s Answers

195 total


  • Do I always need to file Quiet Title Action when buying properties from Tax Sale?

    I am planning to buy a Tax sale Properties, but afraid to deal with bank foreclosure, how could I avoid it? Whats the outcome of the Quiet Title Action normally? what's the chance of winning? could I negotiate with lender of the property and take...

    Joshua’s Answer

    • Selected as best answer

    Typically the mortgages are non-transferable so they most likely won't let you assume it. You can contact them and try to work out a payoff. Quiet title actions are not easy to win. Depending on if you are buying the properties at tax sales or for HOA lien sales, the 1st mortgage will not be wiped out so you will only take it subject to their lien. If they foreclose, you are probably out whatever you paid. Your best bet is to try an negotiate with the lender but they are often not interested in dealing with a random 3rd party.

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  • Do I have legal recourse or protection in the event of finding egregious code violations in the home I purchased?

    My wife and I purchased a home this past spring, and while inspections revealed some issues (like a sub par portion of foundation and termites), but didn't reveal serious, dangerous, and illegal problems, like improperly electrical work, and drain...

    Joshua’s Answer

    You may want to review your title policy and title insurance as well. Sometimes those companies can be resources or it may be their obligation to fix.

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  • The bank sold my house at auction and got back more than what was owed but will not return the left over money to me.

    What law says I can get my money back?

    Joshua’s Answer

    You need to touch base with the trustee that executed the sale. Review your notices, their info should be on there.

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  • If my 1st and 2nd mortgage are from same bank, do I receive protection only from 2nd mortgage?

    I want to know what my rights are under CA Homeowner Bill of Rights. I want to be afforded protection only under my second mortgage seeing that my first and second mortgage are from the same financial institution. Is there any legislative history ...

    Joshua’s Answer

    Your question is vague and impossible to answer. Do you mean if you are foreclosed by the 1st mortgage, would the 2nd be able to go after you? That would depend on what kind of 2nd it is (HELOC, purchase money, etc.). You need to clarify what your issue is and what you need protection for.

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  • Notice of Trustee's Sale posted at my door. Auction is 4-28-14 unpaid balance 276,599.30. I confronted owner and said bank error

    My landlords have been hiding from the sheriffs for 3 wks. They've been trying to serve them with documents without success. I confronted them about the papers on my door and they're saying its bank mistake. I told them that if they loose the prop...

    Joshua’s Answer

    Once the sale is held and it is foreclosed, you are not obligated to pay rent to the former owner. Beware though, the new owner may attempt to evict you, quickly.

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  • Should I put a home that still has a mortgage on it into a trust?

    I have heard this could trigger a "due on sale" that would require me to pay the loan off.

    Joshua’s Answer

    I agree with my colleague. If you are setting up a basic revocable trust, you should be ok to put the house in it.

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  • Could a matured balloon mortgage be placed as part of the payment plan when the balance due is around 245k?

    Can't find options to refinance my home which I am hoping I can keep. I've also been trying to modify it so that it could convert into a traditional/conventional but up to this point, I've been unsuccessful.

    Joshua’s Answer

    Are you in bankruptcy because the other 2 attorneys are assuming as much? If you are not in BK and just asking if you can get a mod on your loan that contains a balloon payment, then the answer is yes. It depends on your lender/servicer, your situation, etc. but if you are in review for a mod from your lender, you can request an option that would contain a balloon at the end and see what they say. I handled multiple mods w/balloons in place (although I would say a balloon is ideal but if you are focused on getting back on feet for short term, it can help).

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  • I am underwater on my mortgages and in modification programs for both the first and the heloc. Am I entitled to principal reduc

    tions per the National Mortgage Settlement?

    Joshua’s Answer

    You are entitled to ask but there is no requirement that any principal reduction be given. Just like there is no loan mod requirement, principal reduction is at the lender's discretion.

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  • If me and girlfriend bought a house together and she stopped paying her half of mortgage, is she responsible for paying it back?

    bought the house 5 years ago under the mutual agreement that it was 50/50 she stopped paying her half of mortgage 3 years ago. we broke up 2 years and we just sold the house. Is she responsible for paying me back for missed mortgages? whats my be...

    Joshua’s Answer

    Who was on the loan agreement? Did you have any written agreement between the two of you? You would need more definite facts to proceed. Consulting with an attorney directly may be more helpful.

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  • My foreclosed house was auctioned off for 84,000 more than I owed. How do I go about collecting the difference?

    There were no other encumberances.

    Joshua’s Answer

    Contact the trustee that held the sale for a refund of the overages. You can find their info on the Notice of Sale or Default.

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