The date of the hearing for the motion is only one day before law day. Is it possible for the judge to not extend the law day and we must vacate over night or is there any kind of appeal process ? Would appreciate input. Thanks
While the judge may deny the motion, it's extremely unlikely you will inmediately be ejected. However, you should develop a good argument why the law date should be extended and for how long. This would be a good time to hire a lawyer if you can afford it.See question
My grandma passed away last year and left 25% of her estate to me after bills were paid. My mom had opened a reverse mortgage on grandma's house to pay for her care and the bank has started foreclosure proceedings in CT where the house was located...
Sorry for your loss. I see these foreclosures after death happening more and more frequently as reverse annuity mortgages become more common.. You are asking in legal terms whether you can just sign a deed in lieu of foreclosure, which in Conn. requires the lender to accept it for it to be valid. The first issue that needs to be determined is whether you have an interest in the real estate at all, as that is all that is involved in the foreclosure. It's possible the lender will accept a deed in lieu, but you should determine first whether there is any equity in the property that you might be giving away. Banks have "procedures for determining whether they will accept a deed in lieu, so you should call the lender and find out the procedure you'll have to go through.
The house really should have been put on the market for sale long ago to prevent the foreclosure from happening, but there is often a lot that gets in the way of selling a deceased relative's home.. In the end, though however the property is transferred, whether by foreclosure, sale, or deed in lieu of foreclosure, you will not be financially liable to the lender, since you did not sign the mortgage note.
original 2nd mortgage co. new century purchased in 2006
A mortgage is a recorded encumbrance on real property, shown on the Land Records in CT. It is only released (or released or satisfied) if a mortgage release document is recorded in proper form, or if a court of record makes a finding that the mortgage is invalid or discharged. In a property where there were two mortgages recorded, a buyer does not obtain clear title on a conveyance unless both mortgage releases are recorded. If a lender charges off a second mortgage it is merely taking the debt off its books as a performing asset. The underlying mortgage note is still legally enforceable, and the mortgage deed remains on the Land Records..
So if you go to sell your property with both mortgages not being discharged, you will have to obtain both discharges in order to give the buyer clear marketable title. The charge-off does you no good. You may be able to obtain a mortgage release from the second mortgage lender for less than full payment, for instance in a short sale, but that is a matter of an agreement with both lenders in which you are going to have to represent that no funds are being paid to you from the sale. A real estate agent or attorney who is experienced in short-sales can assist you in obtaining bank approvals for a short sale, but it is likely to delay the sale..
My wife is both the excutor and benificary of my brother inlaws estate . His only assets are a car and some personnel property . He also has a conodo that is worth about two hundred thousand or less . There to mortgaes totaling two hundred sixty ...
There's no easy answer here. The deed in lieu of foreclosure s an accepted way of resolving mortgage debts in a property that is upside down short of foreclosure, but the difficulty here is there are multiple mortgages. The first mortgagee will not want to accept title unless the junior mortgage-holder will agree to a short pay release. Further, the deed in lieu of foreclosure is a process in which the mortgage lender will want you to expose the condo to sale for at least three-four months before accepting a deed in lieu. Your wife is going to need a probate attorney and a real estate agent experienced in short-sales, and may well need a foreclosure attorney before this is done.See question
I hired an attorney to file a Chapter 7 BK in 2008 and it was discharged in 2009. I understood my second mortgage was to be included but have recently found it was not and a lien is held by a collection company. Do I have any recourse in resolvi...
Don't seek to reopen the Chapter 7 because it won't help your present situation, and it does not sound to me that your lawyer did anything wrong. An option is to file a Chapter 13 now instead so you can strip off the second mortgage lien if (big if) it is entirely under secured. That means the second mortgage can only be stripped off if there is no equity to support it after subtracting the first mortgage balance from the fair market value. You'll have to pay something over 36 to 60 months under a plan, which could be a lot of money if your disposable income is high.
Outside of bankruptcy certain mortgage lenders and servicers are reducing mortgage principal balances, even the entire mortgage balance, in order to fulfill the damage terms of Dept. of Justice or various State Attorney Generals lawsuit settlements against them. It depends on who the lender is.
A third possible option is to go through a Home Affordable Refinance, in which the second mortgage is reduced so the new mortgage are no more than 115% of fair market value, and you'll get financial incentives if you keep current for a few years.See question
Discharged and will be 10 years in November 2015
If your goal is to have get title to the motorcycle from HD so you have something you can sell or trade in, then an option for you is to file a new bankruptcy (it may be a Chapter 7 if you are eligible) and propose to redeem on the vehicle, which means you may get title to the vehicle by paying its present fair market value in a lump sum. Valuation of the cycle is key. Obviously you would not want to file a bankruptcy if the bike lien is your only issue, but you may have accumulated other debts in the years since your first filing. Short of that you can just keep using the bike until it turns to rust, because HD isn't going to turn over the title until it has to, and my experience is it won't settle outside of bankruptcy.See question
I just got married and my wife and I have a pre-nup that states what is hers is hers an what is mine is mine. What should I do? I cannot pay the old debt.
You may be sued by this creditor and, if you do not defend the suit, a default judgment will enter. What is important for you to understand is how judgment debts are collected. Social Security income is exempt from garnishment, but funds once deposited in a bank may be "comingled" with non-exempt funds. Most states have minimum deposit amounts that are exempt from judgment creditors, but if you have a joint bank account with your new wife, the creditor may garnish it. The same is true of jointly-owned real estate and vehicles. It's important that you get legal counseling in how to keep your assets protected from legal process. By the way, your prenup has no effect on your creditors--they are not parties to the agreement. Contact a consumer lawyer in your area through Avvo.com for a consultation.See question
I'm a single mom and only bring home about 290.00 per week
Bankruptcy attorneys' fees vary widely geographically. In some states it is as low as $750, while in others $1000 is the bottom. In some states, the trustees only require payroll information, while in other states the trustees routinely require tax returns, bank records, vehicle valuations, divorce documents and other documentation for each debtor, thus increasing the attorney's time and fees for the client. In Conn. you can expect the average cost will be around $1500 as a flat attorney's fee if you have a simple case. Some bankruptcy firms advertise an attorney fee of $995 for a simple bankruptcy, but clients find they are quoted a higher fee because their case isn't simple (kind of a "bait and switch" if you ask me).
Still other attorneys will offer reduced fees for debtors who have low income (I do). If your income puts you at or below the poverty level, you may qualify for a court-appointed "pro-bono" or free lawyer. Call the Bankruptcy Court clerk for a pro-bono application if you think you qualify.
She has very little equity in her home ($10-$15k) but she is not underwater. Should she try to include the mortgage in the bankruptcy or should she just she let it go in forelcosure?
In Conn. your mom can exempt her equity and keep the house if she pays the mortgage, or just let it go into foreclosure. She needed to list all her creditors in her schedules. I recommend she not sign a reaffirmation agreement on the mortgage, and that she get legal assistance when she is served with a foreclosure complaint, so she can maximize her "free" time in the home.See question
this was an on line purchase from a used car dealer, the vehicle will not pass inspection and needs repair. they will not agree to pay for the repair but did originally agree i would not have to drive this vehicle back to them for repair if needed...
Since the used car dealer advertised interstate, there is jurisdiction to sue it in your home state, although it may be difficult to collect against the dealer other than in its home state. If the dealer's state is not too far you would be more likely to collect with a judgment where the dealer operates. Unless the amount involved is quite large, you might be better off trying non-legal alternatives instead, such as filing an eBay dispute (assuming it was eBay), or complaining to the Better Business Bureau, or the Consumer Protection Department.See question