According to a mortgage statement I found open in my hallway, as of August 2016, the loan is 1,323 days delinquent. The amount due as of September 2016 is $217,455. I don't want to be blindsided and have to vacate suddenly. In the case that the ba...
You should abide by the lease. It is legally binding against you. At some point, it is likely that a receiver will be appointed and/or the bank will re-take ownership of the property and become your new landlord. At that point they may take action to cancel the lease or pay for you to vacate. So be aware of an impending change, but don't assume it is coming anytime soon.See question
My brother is an Ivy League educated former bank VP, who has suffers from an undiagnosed mental breakdown and unacknowledged alcoholism (he hides it but his Ex informed me). He absolutely refuses intervention of any kind (several attempts made)...
Glenn and Patricia provided valuable insights here. I get the sense that this is an incredibly sensitive and nuanced situation. At the end of the day what will really stall the foreclosure is if there is a reasonable likelihood of your brother getting back on his feet and modifying the loan back to performing status or if you put the property up for sale and the amount owed is less than the $400K re-sale value. If the condo has already taken back ownership, then that option is also off the table. At a minimum, they are going to have trouble evicting him if he IS DIAGNOSED. Since he is not, that does not help you. That said, I don't think you have a reasonable chance of getting a result soon enough from a Guardianship Proceeding under the Mental Hygeine Law to make any difference with the eviction. It may be time for the family to intervene and meet with your brother and see to his well being whether he likes it or not. In this instance, it seems the writing is on the wall and the caring, loving and Christian thing to do will be to help him to make a transition and begin to get his act together. The legal avenues available at this stage are very limited if he does not take the first step and start improving his situation of his own accord.See question
My house is in the forclosure process. It's never need reaffirmed after my chapter 7 in 2011 discharge. I sent the bank and attorneys written statement saying I will not fight the forclosure, and will sign over deed. I was under impression that we...
The bank has little incentive to do a Deed in Lieu of Foreclosure if they know you will be leaving. The Servicer has even less of an incentive to do so given that they are paid on a monthly basis and their job will be over once you remit property rights and leave the premises.
If they are not moving on the Deed in Lieu, there is little you can do to incentivize them to do so. Usually, if you begin by fighting, you can hold a Deed in Lieu out as a potential bargaining chip.
But, at the end of the day, the question is what possible value there is for you in doing a Deed in Lieu of Foreclosure. There are important reasons to either modify a loan or to engage in a short sale, but the benefits of a Deed in Lieu of foreclosure are much less obvious and apply to very limited situations.See question
WHat does it mean .. MERS status is inactive.. Servicer is BOA... Does this mean that BOA holds note???? Can they foreclose??? They took over my mortgage in 2008 from precision financial... Im so confused and going to fight to keep my home.. ITs...
The best way to find out who owns your Note today is to file a QWR with the current Servicer who is sending you notices, which in this case, apparently would be BofA. You can find a sample form online but will be better off hiring an attorney if your loan is seriously delinquent.See question
I received a Notice from the plaintiff in a foreclosure that surplus monies had been deposited to the Monroe County Treasurers Office. I contacted The NYS Supreme Court where the foreclosure took place and they advised that I needed to contact an...
Under RPAPL Sec. 1361, you can file an action in Court to recover Surplus Funds. The best practice is actually to file a "Notice of Claim" with the referee before the Sheriff's Sale takes place. But, since you failed to do that, you would need to proceed by way of motion under Sec. 1361(2).
If there are no prior liens entitled to the surplus funds, you may well be owed something and should certainly pursue this. You will need a lawyer who practices in this area to do so.See question
What happens if a house doesn't sell at a sheriff sale? Does that ever happen? Does the bank then get the house? What if there are other liens on the property?
If no one bids on a property up for Sheriff's Sale, the bank can reclaim the Title for a dollar, and in certain cases must also address the other liens to do so.See question
I moved to my grandmothers home a few years ago in a 55+ community to help care for her. After her passing my mother (her daughter) moved in the house with my while we worked out the details of the estate. We were unaware that my grandmother had a...
The bank foreclosure and the Condo Association action are two different animals. Your health is a big factor that may afford you the opportunity to get additional time in the home and can also be a changed circumstances justifying a favorable modification review by the Lender/Servicer.
The Condo suit will come down to By-Laws and Association rules and there will be specific rules about taking over a parent or relatives unit and when that can happen and when it cannot. You need to bring the relevant documents to a NJ Foreclosure and Condo Lawyer who can analyze them and tell you what defenses you may have and which legal theories may have the greatest chance of success. However, always be careful litigating against a condominium association because you will often be accountable for paying for their legal fees, making a reasoned negotiation much more advisable.See question
I have been turned down for a loan modification , the mortgage company wants to proceed with a foreclosure or a deed in lieu to surrender your home. Which option takes longer and are there any options left? Thank you
You may still qualify for a loan modification. A foreclosure attorney who knows what they are doing may be able to appeal the modification denial, re-submit and prosecute the modification application through the Servicer properly--and get you a modification. Many of the attorneys who practice in this area have loan software to check the bank's work and which can be presented to show them that a modification is viable. There are many chances to get a modification left without filing Bankruptcy.
Of course, a Ch. 13 Bankruptcy is an option, depending on how far behind you are. The Bankruptcy modification program is helpful. But, you should first apply to the NJ Foreclosure Mediation Program in State Court, which can be done by way of Motion to the Chancery Court judge.See question
Not attending settlement conference for foreclosure in NYS. Received loss mitigation application in March from mortgage co. lawyers.. Just received another letter from lawyer requesting documents back.
If you want a modification, you need to submit your full loss mitigation application. I am not sure why you are not attending the Settlement Conference, which sounds like a big mistake. I am not sure if you have an attorney, but if not, you may want to find a local foreclosure attorney to assist you with this matter.See question
Post Sheriff Sale nearing Foreclosure. Have Base complaint with Audit and affidavit from CFLA to file wrongful FC in NY Southern District. Home is in Oregon. Must file in NY Federal Southern District. Please recommend an attorney able to file th...
It sounds like you have already filed a Complaint in Federal court. If you have done that, you are probably getting tired of hearing this, but it is worth repeating because it is the truth. It is not possible to handle your own wrongful foreclosure case in Federal Court. If you have already filed a Complaint and started the case on your own, any attorney coming in after that point is stuck with what you have filed and the manner in which you've set up the claims. In all likelihood you've lost before you've begun. For one thing, the home is in Oregon so a very serious standing challenge and Forum Non Conveniens challenge would be expected. I suppose that you are trying to file in New York because the loan pool is in New York. Going into all of the whys and wherefors and the details is probably not possible in this format. Suffice it to say that you needed to have someone on board to do this work very soon after missing payments, and to coordinate efforts on the actual foreclosure with any affirmative case you are mounting.
Most likely you have valid grievances and have been terribly wronged. And, while saying it is "impossible" may be too strong, it is "nearly impossible" to represent yourself adequately in matters this complex. So, yes, you should still look for a lawyer admitted in the Southern District. But, it is also probably too late to raise these issues. Moreover, there is a danger that you will face an Entire Controversy Doctrine challenge because many of the claims could have or should have been raised in the original action.
All you need to do is search for a New York Foreclosure Attorney. Many of us are admitted in the Southern District. Those of us who are generally state this on our Avvo pages or mention cases we've handled in Federal Court. That being said, I am not sure from what you've said whether someone is going to be able to jump in at this stage and prevail in any meaningful way with where you are procedurally.See question