Questions answered by Raffy M. Boulgourjian

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Promossory Loan Default

Raffy's answer | Answered on August 15, 2009

If you want to enforce your note and collect on it you will have to file suit and get a judgment first. The only person who can send him to jail...

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On an investment house am I liable for a 2nd after a forclosure on the first if its the same bank?

Raffy's answer | Answered on August 13, 2009

Eventhough the first and second are loans with the same bank, they are separate loans. If the bank foreclosed on the property with the first, that...

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On an investment house am I liable for a 2nd after a forclosure on the first if its the same bank?

Raffy's answer | Answered on August 13, 2009

Eventhough the first and second are loans with the same bank, they are separate loans. If the bank foreclosed on the property with the first, that...

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If there are 2 parties on a home loan, what happens when one party files bankruptcy?

Raffy's answer | Answered on August 13, 2009

Any time a bankruptcy is filed, an automatic stay goes into effect. i.e all creditors must immediately cease collection activity. Therefore, any...

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Can I release interest in a jointly owned investment property in default? Am I also liable for the full amount of the second?

Raffy's answer | Answered on August 12, 2009

If you deed your ownership interest back to the bank it does not deed the other party's interest so I don't see that helping much because the bank...

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Do I continue to pay my mortgage while pursuing a deed in lieu of foreclosure (DILF)?

Raffy's answer | Answered on August 11, 2009

If you stop paying on the first, the first may begin foreclosure proceedings. The other disadvantage of no longer paying on your first is the...

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Can IRS lift liens on a home to allow an investor to sell the home that was purchased after the second mortgagge went into forec

Raffy's answer | Answered on August 11, 2009

The IRS has become somewhat cooperative in removing liens against homes if they feel that the liens are obstructing a sale of the home that may...

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My second mortgage was purchased by an investor. After evicting me from the home and IRS lifted a tax lien, the investor sold it

Raffy's answer | Answered on August 11, 2009

The IRS has become somewhat cooperative in removing liens against homes if they feel that the liens are obstructing a sale of the home that may...

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My wife and I are being told that we need to pay B of A $3,000 in order to be offered a deed in lieu. Is this worth it?

Raffy's answer | Answered on August 07, 2009

Very simply, the decision is going to come down to which you want on your credit profile, a deed in lieu of foreclosure or a straight out...

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We have about $200,000 negative equity on our home. It it advisable to walk away from the home instead dividing the liability?

Raffy's answer | Answered on August 07, 2009

Have you approached your lender to negotiate? A loan modification or a short sale of your home may be helpful. I have explanations of these...

Raffy M. Boulgourjian's Answers (30)

Promossory Loan Default

On an investment house am I liable for a 2nd after a forclosure on the first if its the same bank?

On an investment house am I liable for a 2nd after a forclosure on the first if its the same bank?

If there are 2 parties on a home loan, what happens when one party files bankruptcy?

Can I release interest in a jointly owned investment property in default? Am I also liable for the full amount of the second?

Do I continue to pay my mortgage while pursuing a deed in lieu of foreclosure (DILF)?

Can IRS lift liens on a home to allow an investor to sell the home that was purchased after the second mortgagge went into forec

My second mortgage was purchased by an investor. After evicting me from the home and IRS lifted a tax lien, the investor sold it

My wife and I are being told that we need to pay B of A $3,000 in order to be offered a deed in lieu. Is this worth it?

We have about $200,000 negative equity on our home. It it advisable to walk away from the home instead dividing the liability?