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Michael Austin Hackard

Michael Hackard’s Answers

85 total


  • FORECLOSURE OR SHORT SALE?

    What is the best thing for me to do? a Short Sale or let my house go on Foreclosure, my mortgage loans 1ST and 2ND both were discharged in bankruptcy Chapter 7 in 2009, I haven't made a payment since BK 7, I know there has been new mortgage laws o...

    Michael’s Answer

    If your personal obligations were discharged in the bankruptcy it doesn't really make much difference if you do a short sale or a foreclosure. A possible advantage of a short sale is that you or your agent can negotiate for moving expenses as part of the short sale (usually $3000). Good luck.

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  • Is POA still effective after death ?

    My father signed a Power of Attorney (to me) before his death to take care of his internet accounts, including some bank accounts. Is this POA still effective after his death ? Can I still use it to close his bank accounts ? The POA stated that...

    Michael’s Answer

    Your power of attorney from your father ended when your father, the principal, passed away. At that point the personal representative of your father's estate takes over (that might be you). Your father's estate is distributed pursuant to his will, trust or California's intestacy laws if he does not have a will or trust. You may want to engage Probate Counsel to assist you in the affidavits that the bank will likely require.

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  • My father recently died and my sister is executor. There is a trust involved and father likely had substantial assets.

    My sister has not shared details of the will or the trust with any of her other siblings. We don't even know what type of trust it is. She is spending a lot of money on 1st class air travel and home improvements. She cared for our father but will ...

    Michael’s Answer

    This response will not have the depth required to really answer your question. That said, there are a number of issue that you have raised.
    The Will issue - If your sister is in fact the executor she has the obligation to file the Will with the County where your father lived. You and/or your siblings can also open an estate for your father's estate - asking that you and/or other siblings be appointed the personal representatives of the estate.
    The Trust involves similar issues but the mandates of the Probate Code are somewhat different.
    There might well be an issue of undue influence given that it appears that your sister is spending money that she apparently did not otherwise have.
    In any event, you need to engage experienced trust litigation counsel - and I think soon.

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  • Home ownership and risk of my wife's home via litigation if judgement goes against me.

    My wife owns a home and by written agreement I have no interest in it. It was our agreement 25 years ago. My name is no where in her ownership docs.I'm a plaintiff in a civil litigation against a veterinarian for negligence and she fears that if a...

    Michael’s Answer

    If in fact the home is your wife's separate property a judgment against you would not affect her separate property interest. This assumes that your wife is not part of the litigation. This does not address if you have a recognizable interest in the property because of actions and payments aside from the 25 year old written agreement.

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  • Noise and use issues for commercial and residential tenants in same building.

    I own a mixed used 2 story building in culver city ca. The ground floor is commercial; 2nd floor is residential.The planning dept says the entire site is legal non-conforming & the commercial unit's uses are wholesale, manufacturing & ware...

    Michael’s Answer

    You should seek local counsel who can help draft a lease that identifies the issues that you have raised (in a clear disclaimer) and requires a specific waiver on the part of the tenant to the condition identified. There are some matters that cannot be effectively waived. Counsel can help identify this for you.

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  • Do I have to pay to replace the carpet in an apartment because of pet urine?

    I had 16 documented problems with the landlord. I was allowed to end my lease a month early after having to contact her supervisor. Months later I received a bill to replace the carpet in the apartment for nearly $800. I asked the collections age...

    Michael’s Answer

    The answer depends on language in your lease. That said the language may lack specificity in which case you can litigate your dispute in the small claims court. If the carpet was alread severely worn it would not seem fair that you should have to pay for a new carpet. In the same way the landlord must mitigate his damages - if a carpet cleaning would be sufficient then it is unreasonable to charge you for an entirely new carpet.

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  • Can I cancel a service contract with a grad school admissions consulting service that I paid for less than a week ago?

    I paid with my credit card for a graduate school admissions counseling service less than a week ago but changed my mind about it it. I have not yet received the services of essay editing, resume feedback, interview prep for the graduate school ad...

    Michael’s Answer

    It sounds as though you understood that there would be no refunds when you entered into the contract. That said you can certainly ask for a refund as an accommodation. If you try to work with the counseling service they might be willing to negotiate a full or partial refund.

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  • Can I double close in Los Angeles?

    Please excuse my previous attempt to write a question my computer just doesnt like me. But what I was trying to say was that I am in negotiations with a homeowner to buy and wholesale his single family residential property. However, are there a...

    Michael’s Answer

    Your question is unintelligible.

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  • Confused about Principal Reduction Alternative (PRA ) language. What is the bank actually forgiving?

    I live in California. I got a letter from my bank for a Trial Payment Plan (TPP) after which I may be eligible for a Principal Reduction Alternative. The language isn't clear. Quoting from letter... "If you make your monthly payments on time, w...

    Michael’s Answer

    You need to ask the bank the same question that was posed here. You need to understand what you are signing and if the language is not clear to you then you should ask for clarification.

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  • How do I keep someone from using my business name after I sold my business to him? The business name has my surname in it.

    We agreed to one year use only. Buyer wants to use it longer. The name is not incorporated now since I sold my business.

    Michael’s Answer

    You must look at the written terms of your sales agreement to see if the issue is addressed. If there is a specific contractual provision that the name would only be used for one year and the buyer is continuing to use the name, you should make demand on the buyer to stop the use. You could negotiate an extension of use for additional consideration.

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