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Stanley Duane Lockhart's Answers
- 394 Legal Answers
- 8 Legal Guides
2
Attorney answers:
CA landlord tenant law, is it legal to collect rent on a home that is in foreclosure process, landlord's rights
The legal owner of the property can collect rent while they 'own' the property. You may be thinking of 'rent skimmining' -where the landlord collects rent but does not pay the Lender. Civil Code 890....applies during the first year of ownership in most cases. If you pay and he-current owner- is unable to complete his promise in your 'rent to own' agreement/contract, due to the foreclosure; your action is in Breach of Contract...you may want to go to the county recorder's office to find out who...
14 people marked this answer as helpful
2
Attorney answers:
CA landlord tenant laws, CA foreclosure laws, paying rent during foreclosure
Should you pay this months rent? This is a legal obligation and enforceable by court action. All rent is payable to landlord or owner of the property as due. You will owe either the current owner or new owner on a pro rata or daily rate that is calculated in escrow. If you give notice and move out prior to the close of the short sale, the current owner of the short sale is entitled to the rental income and obligated to you for the security deposit. Short sales can take 2-5 months to close...
12 people marked this answer as helpful
2
Attorney answers:
CA foreclosure law, repercussions of foreclosure
If your payment is going to double my guess is that you have an option arm...'pick a payment'... these loans are expected to double the existing foreclosures over the next 2 years with a peak in the latter part of 2009 further driving down the markets by increasing inventory. The lender can only 'take' your investments by means of a short sale, deed in lieu of foreclosure, foreclosure(judicial or non-judicial). A short sale and deed in lieu must be with your cooperation and participation....
10 people marked this answer as helpful
4
Attorney answers:
If we lose our home through foreclosure can the mortgage company move to garnish our wages for any shortfall
If you stop paying, your husband is liable for the note and costs to collect/foreclose. Illinois is a judicial foreclosure state which means that the lender must follow a drawn out legal process, obtain a judgment in Illinois, apply for a 'sister-state' judgment, writ of execution and come after your assets. California is a community property state so we share. Part of what you make is his and what he makes is yours but the judgment is against him. The entire process in Illinois takes, on...
6 people marked this answer as helpful
3
Attorney answers:
In a Chapter 7 Bankruptcy if you use the wildcard cc703 CA. Is a Sep Ira exempt?
Yes, you can contribute to SEP-IRA for 2009 and 2010 to shelter cash account or you can use part of your wildcard....either is acceptable. Debtors usually use the IRA contribution when they have toooo much cash to exempt. Until April 15, both 2009 and 2010 contribution years are available.
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1
Attorney answers:
Forclosure and past-due HOA fees - can the HOA hold new owner responsible for this?
Until a lien is filed the delinquent FEES do not 'run' with the land. They are a personal liability of the recorded owner subject to civil collection actions limited by the CC&R's restrictions. An association has the authority to impose a lien on the property of a member who fails to pay regular or special assessments. However, the assessment, costs of collection, late charges, and interest do not become a lien on the owner's separate interest until the association records a notice of...
5 people marked this answer as helpful
2
Attorney answers:
Can mortgage company sue homeowners after foreclosure for any deficiency
1. Ca homeowners may ONLY be sued by lender to obtain a personal liabiltiy judgment in a judicial foreclosure process. Calif. also has a non-judicial foreclosure process but the lender gives up any claim for personal liability against the borrower/homeowner. If there is no personal liability judgment, then the lender cannot garnish wages or repo cars. Set forth within the Civil Code of Procedure, Sections 580a through 580d, the "anti-deficiency" laws, prohibit secured lenders, under...
8 people marked this answer as helpful
2
Attorney answers:
Can I file chapter 7 if my debt is my mortgage?
Chapter 7 is a liquidation or straight BK and depends on your income and expenses as to whether you qualify. Chapter 13 may be an option if you have a 2nd mortgage that can be stripped. Depends on your circumstances. Income Taxes, debt forgiveness income, capital gains, qualified debt of personal residence; these are all considerations whether to file BK and how it might help you.... Go to the Library and the reference desk and ask for a book Published by Nolo Press... "How to File a...
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2
Attorney answers:
Student Accounts Undercharged Me, refunded my account, and then tells me I owe them money. What are my rights?
You still owe the money. They 'undercharged' you, they did not give you a discount nor was the tuition on 'sale.' A mistake at the office does not make a contract whereby you get off with paying less that the true amount. They acted in good faith and now you should too.
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2
Attorney answers:
Property is in living trust, is it protected from foreclosure?
If the property is properly titled, the legal title is in the name of the trustees of the trust. But whoever has title is responsible to make the Deed of Trust (DOT) payments or the trustee of the DOT can exercise the power of sale granted in the DOT. These powers were granted by the legal title holder at the time the loan was granted/funded and remain with the property until repaid is some manner. This process is a non-judicial foreclosure under CC2924. Good news is that if you owe more than...
4 people marked this answer as helpful