My partner died.He had a loan/mortgage on our home. He left the home to me. Both our names had been on the title.: Can I walk away form the mortgage and home?
Mazyar's answer: If your name is on title to the home and the other title holder has passed away, then most likely title passes to you. As for the mortgage, if your name is not on the instrument then the bank no longer has a living borrower (Strike 1) and their collateral now belongs to someone who doesn't owe them (Strike 2). Without knowing the specifics, it appears you have inherited a home free and clear of the mortgage. Ultimately this may not be true, but we would have to take a look at the specifics, conduct a title search, and look into the mortgage documents to be sure. I hope this information has been helpful. Feel free to contact us for a no-cost telephone consultation in which to discuss the matter in greater detail.
Am i legally bound by a proposal: Signed a proposal and gave a down payment for work to be done. Money was given in August and as of now the job is not finished nor has the job started. How long must I wait to get this contractor to do something or to get another contractor?
Mazyar's answer: In Illinois, a contract is not formed until an offer has been accepted and consideration is paid. Here, you accepted a proposal and made a payment. So assuming the Proposal is a contract, does it say when work was to have begun and ended? Either way you should be able to call out the contractor for breach of the contract. If the Proposal has dates or time limits in it, that makes it easier to identify a breach. Feel free to contact our office if you'd like an Attorney's demand sent to the contractor. We would be happy to discuss your matter in greater detail at that time.
What type of lawyer should we seek out for assistance in a loan modification.: We need advice/ support with the loan modification application process. Also, is it better to pay property taxes and fall behind on mortgage payments. We do not have enough income to cover both. We currently have been paying property taxes separate - no escrow account.
Mazyar's answer: Speak with an Attorney that is familiar with real estate, mortgages, debt resolution, foreclosures, and potentially bankruptcy and reorganization (just in case). There could be a number of issues at stake in your situation and the person you consult should be able to advise you on the effect of each possible outcome. Feel free to contact my office for a no-cost telephone consult, and to get a perspective on short-term, intermediate, and long-term options. I look forward to speaking with you.