Are homeowners currently in judicial foreclosure eligible for mediation under SB 558?:
We filed an answer to Wells Fargo's complaint and haven't heard back for over a month. We'd like to pursue mediation. But can't tell from here if it's available and if it will do any good. Don't want to give up fighting for our home, but also getting sick of dead ends.
Additional details: little to no equity in the home, in default since 2010, Wells Fargo started a trust deed foreclosure. Then abandoned it. Then started a judicial foreclosure in late May.
Nanina’s answer: If the foreclosure was filed before SB 558 went into effect on August 4, 2013, then there's no requirement for the bank to participate in foreclosure mediation. The best thing you can do is to work with a HUD-approved housing counselor to see what your options are -- filing the answer bought you some time, but won't stop the foreclosure.
Oregon Divorce - Ex Wife failure to pay Credit card debt:
My Ex wife agreed to pay a specific credit card debt in our divorce. She has not. The card is in my name all our debt was in my an as she had lots of things in collections when we got together.
I've been told once that I have to pay off the debt then take her to court to get her to pay.
Is this accurate?
Nanina’s answer: As far as the credit card companies are concerned, you are responsible for the debt -- they are not interested in any side agreement you had with your ex. In terms of whether you can collect from your ex, as other contributors noted, it would depend on the what your divorce judgment said.
Is it true that you have an amount of time after a forclosure, which you can still pay off your entire loan keeping the property: After foreclosure date is there a remaining amount of time in which you can still pay off and maintain your property?
Nanina’s answer:
Yes, if it was a judicial foreclosure, you have the right to "redeem" the property within 180 days after the sale. There are laws that govern the process of redeeming, so if you're in a position to do this, you should consult with a lawyer.
Keep in mind that you are required to pay what the purchaser paid at the sale (if there's no equity in the property, then the bank will likely buy it back for the amount you owe), any taxes due on the property, any money the purchaser spend paying off superior liens & any money the purchaser expended to preserve the property plus 9% interest from the date of the sale.