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i was trying to apply for a loan modification & was wondering if the bank will have the capability of garnishing wages, personal assets money from 401K to settle debt?
You are correct. The information in the loan modification application can be used for collection purposes should you default or even not be approved for the modification. Whether you will be liable for any deficiency is a little more complicated and requires more information. You 401(k) is protected under federal law. Protection for other assets come under either state or federal law if the protection exists. You should consult an attorney for more information on asset protection.See question
Renting a condo in CA still Have one year on the lease to go just found out the landlord hasn't been paying the mortgage or HOA fees, do I have to still pay the rent to the landlord? The landlord is denying that they are in forclosure but the HOA...
Your landlord has not breached your lease and you are therefore still obligated to pay rent. "About to foreclose" is not the same as "foreclosed". If the landlord cures the HOA arrears and you don't pay the rent you will be under threat of eviction. Even if the property does foreclose you are still obligated to pay rents.See question
There is a possibility of a rental home being foreclosed upon in Washington but the owner lives in California. All papers were signed in California and has never lived in Washington. Do we need to talk to an attorney in Washington or California?...
I agree with my colleagues. If the issue is the foreclosure on a property located in the state of Washington then the laws of Washington govern and you should speak with an attorney in that state.See question
I was working on a workable solutions package and my rep never told me I was not eligible or in fear of losing my home! I owned it for 10 years & had a lot of equity, if I would have known or been given the opportunity to short sale I would have! ...
Notice of a foreclosure, whether judicial or non-judicial, in all states is required. You need to investigate how the sale was noticed and whether it was sent to the proper address or individual. You should contact a real estate attorney immediately. The longer you wait the harder it will become to gather the information and correct the situation.See question
The former owner of a foreclosed rental property called asking to be let in the property to remove "items" from it. Do they have any legal right to personal property after the place has been foreclosed and auctioned off back to the 1st lien holder?
Authority to enter and ownership of the property are two separate issue. I suggest you refer them to the new owner to obtain authorization and confirm ownership of the property in question.See question
Found out that foreclosure had been initiated while going through the loan modification process.
A deed in/of foreclosure is generally registered showing the new ownership. The purchasing party just be delaying the registration. You should check to make sure a foreclosure sale did go through and contact the new owner.See question
i pay property taxes on my own & not part of mortgage, 8K/year, the house is undergoing foreclosure proceedings, what will happen if i can no longer pay property taxes
If the house is ultimately sold, the new owner will be responsible for paying the back taxes.See question
The courthouse shows there is still a mortgage on my house.
The deed should also be registered at the courthouse you mentioned. In most states both the deed and deed of trust or mortgage lien are registered with the city or county.See question
IAM CURRENT ON MY MORTGAGE BUT LENDER DENIED MY HAMP REQUEST AS I REQUESTED FOR TRIAL PERIOD AND CONSOLIDATION OF MY MORTGAGE AND PAYMENTS PLANS BUT THEY DENIED W/OUT CONSENT PLS. ADVICE ME ACCORDINGLY ...
Without any income you have zero ability to pay. Unfortunately, while a temporary delay in foreclosure may be possible, without regular income a modification is a dead end. Focus on recovering your income as quickly as possible.See question
my siblings do not talk to me at all, mom passed in mar 2011. do i have any rights to her belongings, house, property, if it is auctioned where does the money go??
You would have to go to the city or county records and search under your mother's name or the property address to get the information on any foreclosure process.
With regards to any rights to your mother's property this would depend on whether she left a will. If she left the will, the terms of the will would dictate. If she did not leave a will, state law provides how her property would be divided.
You should contact an attorney immediately considering a foreclosure auction is pending If there is equity in her house the sale will deplete a large some of money that potentially would go to the heirs.See question