Archived
Second Mortgage purchase money, bank send it to collection, but now bank reinstated the mortgage and want total . Is it right?
Joseph's answer
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Answered on February 10, 2014
Purchase money loans are non-recourse in CA. Depending on the contract you signed, the entire loan balance can be accelerated if you default. It...
Archived
Mortgage company violated dodd frank law by not notifying me of adjustment to my loan. Should I hire an attorney?
Joseph's answer
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Answered on February 10, 2014
Do yourself a favor: pay the arrears now.
Thereafter, consider READING your Mortgage Note. Get familiar with the agreement that you signed. ...
Archived
How long can a Collection Agency come after me for a HELOC on a foreclosed home? Do they have any right to collect the debt?
Joseph's answer
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Answered on February 06, 2014
A non-purchase money HELOC is typically a recourse loan. That means if the first forecloses, the HELOC simply becomes an unsecured debt. My first...
Archived
How do I stop a Motion for Relief from Stay after my Chapter 7 discharge when there is equity in the property?
Joseph's answer
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Answered on October 21, 2013
No. You get a new stay after the BK13 is filed. Opposing the Relief of Stay seems like a waste of time as there is no stay after the discharge...
Archived
Can I walk away from 1st and 2nd mortgage? $170,000 on 1st and $45,000 on second. House is worth $110,000
Joseph's answer
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Answered on October 21, 2013
If these were purchase money loans, there is no personal liability. You indicated that the widow did not sign the loan docs which suggests she has...
Archived
I have a Bank Levy and now they want to use my wifes account as a Third Party Garnishee. What paperwork does she need to file?
Joseph's answer
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Answered on October 21, 2013
Although the debt is yours, the creditor can go after your community property. The source of the funds in the account will be a key factor as to...
Archived
Do I need to pay the trustee at the time of sale, or can I leave a deposit and make payment within the 15 day period?
Joseph's answer
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Answered on October 21, 2013
If you plan to attend a foreclosure auction, you must show proof of funds before you will be allowed to bid. Cash or cashier's checks for the full...
Archived
Didn't get summons in the mail, court entered default judgement and law firm is sending interrogatories.
Joseph's answer
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Answered on October 20, 2013
Measure the cost of vacating the default judgment against your chances of winning the case. Its a relatively small amount to justify hiring an...
Archived
Lender won't include two seller names in approval letter. Is this acceptable?
Joseph's answer
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Answered on October 20, 2013
All borrowers and owners will need to agree to the short sale.
Archived
What if I don't have account number s of my creditors on my credit report. Can I still file for bankruptcy?
Joseph's answer
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Answered on October 20, 2013
Yes.
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