We did chapter 7 with no mortgage reaffirmation ,and can't get refinanced, it's been eight years since our bankruptcy and our credit scores at seven hundred.
You certainly can sell your house at any time, the reaffirmation will not prevent you from doing so but the loan would have to be paid off obviously. Since you do have some bankruptcy and real estate issues, it is advisable you work with an attorney who practices in each of these areas to sell your house and get you the best result.See question
The house had equity but sold for a lower price they want to come after my house can they do that
Although I agree with the previous answers, with proper management of the situation on your part, it would be very difficult for the trustee to prove the transaction was so much below market value that it is voidable. This situation would essentially come down to an evidentiary matter of what the house was worth at the time you bought it, and valuation can be affected by many factors.
Generally, if it was an arms length transaction (seller was not a relative or affiliated entity), a property is worth what someone was willing to pay for it at that time. If you are losing sleep over the situation and want to be proactive, you could hire an attorney to begin gathering evidence regarding valuation on your behalf to be able to answer any trustee inquiry quickly. If you do want to be proactive I recommend contacting an attorney who practices both bankruptcy and real estate.
i had a lawsuit against me in court on oct 2010, which i filed a respose. other party never requested any hearing, on feb 2016 i filed a motion to dismiss the case based on 5 years statue of limitations. other party withdraw the case before the as...
As the other answers indicated and based on your narrative, it is very likely that the statute of limitations has expired on the creditor lawfully suing you, however this is not always a guarantee they will not try to sue anyway. If they do sue you again, you likely have the simple and very reliable affirmative defense of statute of limitations as long as you have not made a payment on the debt in over 4 years.
At this point, I would suggest you send the new collection agency a "cease and desist" letter (many templates available online), and also engage the services of a reliable credit repair company to dispute as many of those old outdated accounts as possible.
I wish to retire but my house is underwater I already have a 2nd home for retirement I am current on my loan with no late payments ever , do not wish to file bankruptcy just walk away , is this possible???
You do not have to file bankruptcy. Rather than just "walking away" it would likely be much more advantageous for you to work with a professional, such as a real estate lawyer, to sell your property through a short sale. A short sale will leave you in control of the sale and also give your lawyer an opportunity to negotiate a global release of all claims against you from your lender(s). Some of us treat these type of matters like a contingency fee case where the client does not have to pay any fee for services, but just take on the real estate listing as a means to get paid from the transaction. It's much better to have a lawyer negotiating the short sale on your behalf than a real estate agent as Realtors are not permitted to give you any legal advice or guidance, and of course are not as well versed in real estate and contract law.See question
Our home was sold at auction yesterday our loan was transfered to new loan servicer the loan servicer said that they have been trying to contact us we did not receive a welcome letter until three days before our homes was sold at auction do I hav...
If the property was your primary residence and you were engaged in loan modification negotiations at the time of the foreclosure which (from your perspective) were still ongoing and you had not received a denial letter in regard to your loan modification application, you may very well have a case for damages against the beneficiary who proceeded with the sale, notwithstanding the change in servicer. The best thing to do is to call a foreclosure defense attorney and explain the entire factual situation to them so they may analyze your facts for violations of the Homeowners Bill of Rights and possible Dual Tracking, there is recent caselaw which applies favorably to your situation. If the facts are good enough, it may be a case an attorney could even do on a contingency fee basis, however, as you have likely surmised it is highly unlikely the sale will be set aside.See question
My almost 82 year old Mother has a 1st mortgage on her California home that has approx $350k equity and is current. She has a HELOC with bal. of $38k that she hasn’t paid on for 10 months due to Dementia. She has also incurred many new bills due...
To answer your question, the "cure date" is not an actual legal deadline, but rather a deadline arbitrarily created by the lender. Legally, nothing about the situation changes after that date, it seems they are using the term "cure date" to motivate the borrower to make payments.
The bigger issue is that there is a tremendous amount of equity in the property, so it is unlikely the lender will compromise on payments or anything else because they could get all their money by foreclosing. As the previous answers indicated, with the equity to protect it is important to work with a foreclosure and real estate attorney to ensure the best outcome.
The California notary on my recorded Substitution of Trustee violated sec 8214 of the California Gov/t Code. In a similar case, the 9th circuit appeal court found the ensuing foreclosure invalid. I want to pursue similar litigation in the federal...
As the other responses correctly indicated, you would be fighting an uphill battle on the issue you raised in Federal Court as this defense to foreclosure has been tried and failed many times in California notwithstanding any caselaw to the contrary.
The best approach in these situations for homeowners is to find a foreclosure attorney you feel comfortable with and speak to them about your facts and objectives in the matter. There are likely various defenses and opportunities to accomplish your goals which you are not even aware of.
In a great number of the foreclosure defense cases I have handled, the most significant and helpful cause of action is usually not even something the client is initially aware of but that is uncovered during the client strategy and intake process. So don't limit yourself to your own analysis, seek out a qualified foreclosure defense attorney and just lay out the facts for them to analyze, you may be surprised at the opportunities you have for a positive outcome.
I own a home in California. I am current on the first mortgage and 2 years behind on the 2nd. The property is worth less than the amount of the first mortgage. I want to keep the home to live in when I return in January from Utah, but will be 65 b...
As the other answers indicated, a 2nd can indeed foreclose and take the property subject to the first mortgage, however since the value is less than the first mortgage, it is unlikely they actually want to do this. Based on the value and the amount of the first mortgage, the 2nd has very little "value" right now and it's a good time to work out a settlement with the 2nd mortgage lender. In many cases 2nd mortgages can be settled for very little money because the equity position for the 2nd is so bad.
You should certainly talk to a foreclosure attorney about your options. Of course chapter 13 may be an option as well.
Is gold bullion, or silver bullion, gold coins and silver coins. Considered Jewelry under chapter 7 bankruptcy? Anyone, know? In other words, would the exemption applied to Jewelry of say 7,000 dollars, also apply to precious metals?
Orange County trustees would not consider gold bullion (coins or otherwise) as jewelry, but rather as collectables or other type of asset as their value is derived from the commodity itself not from the artistic expression of fashioning the metal into wearable pieces. I suppose if you were to somehow have a jeweler attach a chain to the coins and they could legitimately could be worn, the classification could be revisited.
Frankly however, whether the gold is considered jewelry, collectables, or a form of currency, it is likely that an experienced and creative bankruptcy attorney could help find a way to exempt these valuable items so that you could keep them as "exempt." The objective is to disclose the asset, and for the trustee not to sell them, exactly how we exempt them not tremendously important, as long as they're exempt.
We have been trying to get loan mod or any kind of assistance from our servicer (GMAC Loan Servicing) seen 2011 but later GMAC filed for bankruptcy then our loan was transfered to Bayview loan servicing by E*TRADE (Lender). My family live in this ...
Your situation is not hopeless, however in order to qualify for a modification (or enter into a chapter 13 repayment plan), you would need income to support the mortgage payment. You mentioned the hardship of a lost job, I would infer that this also means you do not have sufficient income to make a mortgage payment. Any modification opportunity will require you to show income as the lender will want to feel secure that if they offer you another opportunity you will be able to make regular payments.
If you feel like the job loss and no income situation is temporary, you could consider a foreclosure defense lawsuit to essentially buy time until you could qualify for a modification and then do so as part of a litigation settlement. This can be an effective strategy, but of course when it comes time to submit loan modification documents, income is essential.
Finally, if you feel that the no income situation is most likely a long term issue that will not quickly resolve itself, you may consider listing the property for a short sale which typically extends time in the property and gives you the opportunity to stay in control as the property is sold on your terms, rather than just have the lender evict you one day.
These are your most likely scenarios to consider, but it certainly would be advantageous to speak with a foreclosure and real estate attorney in California right away to discuss these strategies in more detail.