Alan D. Walton's Answers (3881)

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Can I rescind MERS as nominee?

Alan's answer | Answered on March 03, 2012

MERS is not your nominee. It is the Lender's nominee, and only the lender can rescind the nomination.

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I signed a quit claim deed to finalize a divorce. We have since gotten remarried. Does the marriage override the quit claim deed

Alan's answer | Answered on March 03, 2012

Your spouse owns the property, you have no interest in it.

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Our first and second mortgage were discharged in bankruptcy. we did not sign reaffirmation aggreement. we are short selling

Alan's answer | Answered on March 02, 2012

You are dealing with different arms of BOA, each of which the other does not know what it is doing. There is no way the debt can be resurrected...

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In chp13, need advise on retirement strategy.

Alan's answer | Answered on March 02, 2012

At least in the 6th Circuit, payments to a retirement fund while in a chapter 13 would not be acceptable. The appellate court here has said that...

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I need to sue bank of America for dragging the process of home modification

Alan's answer | Answered on March 02, 2012

Your situation is not uncommon. Unfortunately, the modification program is voluntary on the part of the lenders, so you have no right to sue them...

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I received a 1099 c form for cancellation of debt date of cancellation 01/31/2011, debt was said to be sold on 11/01/2011?

Alan's answer | Answered on March 01, 2012

I have to disagree with Mr. Lapas. The IRS has rules that require lenders to issue 1099c forms when the character of the debt becomes unlikely to...

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I am president of a car club under 501 Sec. C7 and am a signatory on the club's checking account. I owe the IRS $20,000.

Alan's answer | Answered on March 01, 2012

You are a fiduciary - that is someone with access to money that does not belong to you. The IRS cannot take the money that does not belong to you...

Archived

Wage garnishment percentage?

Alan's answer | Answered on March 01, 2012

Federal law allows the garnished person to keep the first (30 hours times the minimum wage), for low income folks, for the higher incomes, 25%...

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How Do I go about handling this situation which has scared me to death?

Alan's answer | Answered on March 01, 2012

Since you are not even sure which debt it might be they are demanding that you pay, it is clear that the collection tactic is more important to...

Archived

Are payments for student loans deducted from my paycheck before the garnishment pmt is determined?

Alan's answer | Answered on March 01, 2012

Sorry. The student loan payment is a voluntary deduction that will be ignored when calculating the garnishment. You might want to talk to a...

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