Stanley Duane Lockhart’s Answers

Stanley Duane Lockhart

Alameda Bankruptcy Attorney.

Contributor Level 14
  1. CA landlord tenant law, is it legal to collect rent on a home that is in foreclosure process, landlord's rights

    Answered over 5 years ago.

    1. Stanley Duane Lockhart
    2. Piotr Gabriel Reysner
    2 lawyer answers

    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...

    1 lawyer agreed with this answer

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  2. CA landlord tenant laws, CA foreclosure laws, paying rent during foreclosure

    Answered over 5 years ago.

    1. Stanley Duane Lockhart
    2. Linnea Long
    2 lawyer answers

    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...

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  3. CA foreclosure law, repercussions of foreclosure

    Answered over 5 years ago.

    1. Richard Leigh Boyer
    2. Stanley Duane Lockhart
    2 lawyer answers

    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....

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  4. If we lose our home through foreclosure can the mortgage company move to garnish our wages for any shortfall

    Answered over 5 years ago.

    1. Stanley Duane Lockhart
    2. Margery Ellen Golant
    3. Barton Sheldon Strock
    4 lawyer answers

    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

  5. In a Chapter 7 Bankruptcy if you use the wildcard cc703 CA. Is a Sep Ira exempt?

    Answered over 4 years ago.

    1. Stanley Duane Lockhart
    2. Malcolm Wallace Ruthven
    3. Clifford Sculley Bordeaux
    3 lawyer answers

    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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  6. Can mortgage company sue homeowners after foreclosure for any deficiency

    Answered over 5 years ago.

    1. Stanley Duane Lockhart
    2. Margery Ellen Golant
    2 lawyer answers

    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

  7. Can I file chapter 7 if my debt is my mortgage?

    Answered over 4 years ago.

    1. Stanley Duane Lockhart
    2. Jeffrey David Curl
    2 lawyer answers

    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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  8. Student Accounts Undercharged Me, refunded my account, and then tells me I owe them money. What are my rights?

    Answered over 4 years ago.

    1. Stanley Duane Lockhart
    2. Pamela Koslyn
    2 lawyer answers

    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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  9. Property is in living trust, is it protected from foreclosure?

    Answered over 4 years ago.

    1. Stanley Duane Lockhart
    2. Pamela Koslyn
    2 lawyer answers

    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...

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  10. Pay the second lender on my foreclosure? By law, do I have to pay them back? Where does the loan sate purchase or hard money?

    Answered over 4 years ago.

    1. Stanley Duane Lockhart
    2. Steven Alan Fink
    3. Pamela Koslyn
    3 lawyer answers

    2nd Mortgage which I refinanced.... The 2nd lost its lien position when the 1st foreclosed and now just has the promissory note under which to pursue repayment, it is a personal liability, it is unsecured, and they must sue you for breach of contract(non-payment) and obtain a money judgment before they can collect. Make sure the collection service is abiding by the FDCPA and California Rosenthal Act provisions that protect you from abusive and misleading collection acts. If you can not...

    4 people marked this answer as helpful