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Michael C. Wild

Michael Wild’s Answers

474 total


  • Hi I received a letter about unclaimed money from my grandmother she has died a in 2006 and she has unclaimed money.

    And I am the only living relative would I be able. To claim it

    Michael’s Answer

    The letter you received is from a company that will offer to "help" claim the money in exchange for a substantial fee. Skip that company and go straight to NYS Unclaimed Funds. If you need tof open an estate to claim the funds, hire counsel.

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  • Need to move and want to rent my house. Was approached about rent to own. What to do?

    Was approached about a rent to own on my current house. The couple are both on disability and both have bad credit. They want to offer me 2000.00 down payment. My house is currently up for sale at 54,900.00. They then want to pay 700.00 a month. I...

    Michael’s Answer

    Land contracts fell out of fashion in NYS for a number of good reasons. At law, they are treated like an equitable mortgage. In layman terms, that means if the buyer stops paying, the seller has to foreclose the buyer's interest in the property, which takes a long time and costs a lot of money.

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  • What do I do as a tenant if I receive a notice of foreclosure?.

    Hi,I'm a tenant in a basement apartment in Long Island NEW YORK,I received a "NOTICE TO TENANTS OF BUILDINGS IN FORECLOSURE" stating that the apartment that I'm renting is subject to foreclosure proceedings,Informed the landlord but he ignored me ...

    Michael’s Answer

    The bank's mortgage foreclosure is separate and distinct from your tenancy. It is a matter between the property owner and the bank. It is not justification to withhold rent. There is nothing to fight. The landlord owns the property until the referee's deed is recorded, and that likely won't happen for years. The tenant is obligated to pay rent until a receiver is appointed, or the referee's deed transfers ownership to the new owner.

    Pay the back rent to the landlord, or the landlord will be within his or her rights to commence an eviction action for non-payment.

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  • How can I recover my money, and what will it cost me. I am in Angola NY.

    I loaned a friend 24000.00 in 2014. Sporadic payments of 200.00 a month. There is no written agreement, but I have received payments and I have the cancelled check written to him. I am a single mother and need to have my money repaid as soon as po...

    Michael’s Answer

    You should meet with counsel to review your case, and prepare a demand letter. In the event of suit you will need to prove the terms of the agreement (amount loaned, interest rate, term, etc.) to obtain a money judgment.

    If you obtain judgment, you will have to collect on it, which had its own challenges.

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  • Who is entitled to the money and how do they get the money. According to my husband he said he was told he had to prove he was k

    My husband's father died. He had life insurance but failed to list a beneficiary. He was divorced, owns a home and a car that he left to my husband. His father has 3 other children. How do they go about getting the money from the policy? Since my ...

    Michael’s Answer

    I'miss sorry for your loss. If there is a will, it should be submitted for probate, and the life insurance proceeds woukd pass by the terms of the will. If there is no will, there should be an administration petition. In that case, the life insurance proceeds pass under the EPTL's intestacy provisions.

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  • HOW DO I GET MY MOM HOUSE IN MY NAME?

    MY MOM DIED WITHOUT A WILL. I LIVE IN HOUSE AND DON'T KNOW WHO TO GET THE HOUSE IN MY NAME

    Michael’s Answer

    You need to meet with an attorney for help with an estate matter. You can use the find-a-lawyer tab here, or call the Erie County Bar Association lawyer referral and information service to start your search.

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  • How can I get a case dismissed where the Plaintiff never actually filed the suit?

    I was sued by the original Bank that gave me a loan. I discovered that the debt was transferred many times and the original Bank wasn't behind the suit. The Attorneys for the party that really owned the debt, Bank G, committed Fraud Upon the Court...

    Michael’s Answer

    Bring whatever papers got served on you, along with the loan documents, to an attorney for review. Banks merge on a fairly regular basis, and it's common for promissory notes to get endorsed to other entities, and security instruments to get assigned to other places. If you're trying to assert a technical defense, you should have an attorney help you. If you're behind in your loan payments and hoping for a magic bullet that will allow you to not pay, I'm sorry to say it, but that's probably unrealistic.

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  • How do we remove his name without my having to refinance or get a cosigner

    My husband & I are divorcing. He wants his name off the mortgage & he'll leave me the house.

    Michael’s Answer

    This is a question to direct to the attorney representing you in your matrimonial matter. In general, though, it's unlikely the bank will simply "take someone's name off the mortgage." More likely, you will need to refinance, and if the lender requires a co-signer, you will need to find a co-signer.

    If refinancing or finding a co-signer aren't viable options, you should speak with your attorney about selling the property.

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  • Am I able to stop the garnishment and get some of my money back that was not owed?

    My bank account has been garnished for twice the amount that was owed for an unsecured loan after I started sending them payments

    Michael’s Answer

    It doesn't matter if the loan was unsecured. The contents of your loan documents are of more relevance. My suspicion is that if you review the loan documents and judgment roll, you'll find that your creditor was entitled to pre-judgment interest, attorney fees, court costs, reasonable disbursements for the suit and execution costs. Once judgment is entered, the creditor is entitled by law to 9% simple interest per year on the unpaid judgment principal.

    If the judgment has gone unpaid for many years, the accumulated interest and the costs taxed onto the judgment amount are the likely culprit for the apparent discrepancy between what you thought you owed, and the amount to pay the creditor in full.

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  • How do I calculate the interest owed on a $410 debt from a car I sold? How would I present this information to the debtor?

    I won a judgment in small claims court in December, 2006 in Onondaga County in New York State. Today the debtor called me to settle it. He owes me $400 + $10 filing fee for the purchase of a car.

    Michael’s Answer

    • Selected as best answer

    The annual interest is 9% (or 9/100) multiplied by the judgment principal of $410.00, which is $36.90 per year. To get the per diem, or daily interest, divide $36.90 by 365 (even though this year is a leap year, and there have been a few additional leap years since 2006, the daily interest is unchanged) to get $0.10 per day. Then you count the day from the day after entry/docketing in 2006 to the end of 2006 at $0.10 per day, add in $36.90 times 9 years, then add the per diem at $0.10 per day for the number of days that have passed this year (today is the 118th day of this year). Once you do the arithmetic, you can give the payoff figure, and the daily interest rate to your debtor.

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