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I recently purchased a house from a bank foreclosure. The old owners are still in the house. I am not a landlord and do not intend to rent it.
There are specific procedures that need to be followed.See question
I got an intent to forclose notice on the door of the house I've been renting for years. My landlord said he would take care of it but has done nothing in the last few weeks according to the information sources I am keeping up with and has other f...
You do have rights as a bona fide tenant in terms of remaining in the property after a foreclosure that a knowledgeable attorney can explain to you.
Most residential mortgage loans are not assumable or assignable according to their terms. You can download a copy from the online Maryland Land Records and review to determine. Some are assignable with the consent of the lender, especially if the lender is not an institutional lender.
If you can qualify for a mortgage loan you could explore purchasing the property through a short sale (assuming the property is worth less than the loan payoff balance).
Good luck to you.See question
Didn't know about the mortgage on my parents house , assumed it was paid for until they passed away . Now owe 23,000.00 in past due payments to avoid sale
If the property is in Maryland, was an estate opened for the last of your parents to die and a Personal Representative appointed? If yes, do you know if notice of the foreclosure sale was sent to the PR?See question
My father had sold a property into a private mortgage in which the buyer would pay monthly for a 5 year term with a lump payment the last year. He only sold it as a private mortgage because he had cancer and it was a desperate situation (rural pro...
I agree with the other attorneys who suggest that it will be difficult for you to accomplish on your own. My practice, for the most part, is representing private lenders who need to foreclose on real property.See question
Where would one find out this information? The Court was contacted, but they will not give out the information. So how can one find out who was the winning bidder at a foreclosure auction and took possession of a property?
You also can try contacting the trustee. If neither is responsive you can review the file at the court house when the affidavit of purchaser and report of sale are filed. You can monitor the court's online docket to see when filed but need to go to the court hose to see the actual document.
I am currently jointly on the mortgage on a house with my ex but I am not in the deed of the house. He has been responsible for the payments and has not been making them and it may go into foreclosure. If the house goes into foreclosure and auc...
From your question I assume that at one point in time you were a joint owner of the property with your what you now call your ex-wife. My guess is that in separating and/or obtaining a final divorce you executed a deed transferring your interest to your wife. You can set up a free account to search Maryland land records here:
What confuses many people is that their mortgage company doesn't typically release you of your legal obligation to pay the underlying promissory note that is secured by this property even when you ostensibly transferred your portion to your ex-wife. Without a release or subordination, your lender's lien/mortgage/deed of trust remains in effect and senior to the transfer from you to anyone else.
If this property to sell for more than it owed on any promissory notes that you signed that are secured by that property (could be more than one, like what is commonly called a "Second" or "Line of Credit"), plus commissions, expenses, legal fees, etc., then, in all likelihood, you no longer would be responsible for what typically is referred to as a deficiency judgment.
Once again, assuming your separation and/or divorce decree address this property, you need to review the controlling documents from your marriage dissolution to see if your ex-wife has any obligation to share any excess proceeds that might remain.See question
I have a securitized loan. The Trustee is US Bank. How can the servicers (Wells Fargo) attorney appoint substitute trustees without authorization or power of attorney from US Bank?
I suggest you read your deed of trust or mortgage. Undoubtedly, you will find a provision that allows the lender/beneficiary to appoint substituted trustees.See question
House was sold in foreclosure. Sold for more than amount remaining on 1st mortgage. Excess amount of 5k+ put in "trust" for anyone to claim, presumably 2nd mortgage, and HOA lien (though HOA may have been cleared during sale and final audit). How ...
If you have a copy of the auditor's account along with court order ratify in it, as well as any claims filed in the audit, an attorney experienced in Maryland foreclosures will be able to advise you.See question
Buyer paying in installment payments. Stopped paying in February of 2016. Still owes about $40,000. Person taking care of property has left messages. But no response. Lawyer is sending letter to advise buyer of foreclosure. But he isn't fore...
Accomplishing a foreclosure can be expensive. You should consult with a Maryland licensed attorney with experience in this area. Many times the loan documents contain provisions to recover the legal fees and costs. Of course, this assumes that there is either equity in the real property that would be realized upon the foreclosure sale or that the borrower has other assets that could be attached and used for collection after a deficiency judgment was obtained. It, therefore, would be important to know the present fair market value of the property, what amounts, if any, are owned on liens and/or judgments that are senior to your deed of trust, what amount is due under your loan and whether the borrower is judgment proof or has other assets.See question
Apparently the building my parents live in is being foreclosed. They were recently told about it from another tenant after some appraisers showed up at the property and they later did some online digging only to find the property listed on the i...
There are requirements to notify occupants of a residential property (as specifically defined) of a pending foreclosure. There are other means to check and see if there is a foreclosure court case has been opened against a property in Maryland. You should consult with an attorney experienced in Maryland foreclosures.See question