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
I am third party purchase of a foreclosure auction in maryland and it went into litigation and delayed the ratification by almost 6 months. The defendant (current owner) is litigating and delayed the ratification. The final hearing happened last ...
It's clear that you have been doing your homework and understanding some of the issues that you need to address as a foreclosure sale purchaser. I agree with Attorney Boyer that it would be in your best interest to retain the counsel of an attorney experienced in Maryland residential foreclosures.See question
After a foreclosure in Maryland can they just come in the property and take all the homeowner's valuables, money, important documents and personal property if the homeowner is out of town? How long does the homeowner have to vacate the property?
You may wish to review Section 7-114 of the Real Property Article of the MD Code.See question
We were served the Order to Docket about 50 days ago, but we never received anything about going to court. Were we supposed to go to court first? Now the home is scheduled for auction on the 28th of this month. In the meantime, we are trying to ...
I think it would be in your best interest to retain the services of an attorney to help you understand the residential foreclosure process in Maryland and assist you in deciding what steps you should consider taking at this juncture.See question
Here's the letter: What does it mean exactly in easier language? Upon consideration of the substitute motion or response to defer the entry of an order to dismiss under MD rule 14-207. court having determined that good cause has been shown in th...
Most likely the clerk issued a notice of dismissal due to the case being dormant while the lender explored modification options with you. This usually has more to do with case management by the Court than any deficiencies in the pleadings filed by the plaintiff/trustee.See question
Is the second mortgage entitled to all remaining proceeds, or only the amount of arrears to get the mortgage current?
Unless the junior lien holder joins in the sale with the senior lien holder, the junior lien is extinguished in the event that the sale is ratified. If the junior lien holder files a claim with the auditor and it is the next most senior lien entitled to excess proceeds, those proceeds will be used to satisfy the junior lien up to the total amount due.See question