Archived
I have 2 homes. One is a rental that is occupied and the other is where I live. I am under water with Option ARM loans on both.
Arash's answer
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Answered on March 16, 2010
Short sale and deed in lieu are preferred over a foreclosure because of the credit implications. I was speaking with a mortgage broker the other...
Archived
I live in California, after the forclosure sale it will wipe out the first.At what time do I file BK ch 7 for the second?
Arash's answer
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Answered on March 16, 2010
To supplement my colleague's response, also be careful of home equity lines of credit (HELOC), as they can come after you on a personal guarantee...
Archived
Can't afford payments on CA rental property, husband just diagnosed with cancer and can't work. Can we "walk away"?
Arash's answer
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Answered on March 16, 2010
If you cannot afford to pay two mortgages, consider either doing a short sale or deed in lieu to avoid foreclosure. You really don't want a...
Archived
Deed in lieu vs. Foreclosure in California on second residence?
Arash's answer
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Answered on March 16, 2010
Deed in lieu is always preferred over a foreclosure. Well, almost anything is preferred over a foreclosure. I say this because I was speaking...
Archived
My spouse has a mortage debt and car loan prior we were married. Can the bank come after our house bought after marriage?
Arash's answer
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Answered on March 12, 2010
In a short answer, its possible. This is the situation in which it can happen. If the debt is such that a deficiency or judgment can be procured...
Archived
In a Chapter 7 Bankruptcy how much is the Wildcard. and if you only have one vehicle w/net value of $3300 can it be used too?
Arash's answer
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Answered on March 12, 2010
You should be fine with your car, motor vehicle exemptions are $2,500+ and wild card is $21,000+. But remember that only protects the "equity" in...
Archived
In Chapter 7 bankruptcy in CA, if you meet means test is there anything else you must qualify for?
Arash's answer
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Answered on March 12, 2010
You should consult a bankruptcy attorney regarding this because there are more facts that need come out. But as a general answer, if you qualify...
Archived
What are "Hard Money Loans"? I see postings here about it but dont know what it is
Arash's answer
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Answered on March 12, 2010
A hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by the value of a parcel of real...
Archived
Foreclosure vs. Short-sale on the road to a chapter 7?
Arash's answer
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Answered on March 12, 2010
You need to contact an attorney immediately to discuss your options. If you wish to contact my office I would be more then happy to speak with you...
Archived
What is the proper/legal way of terminating an employee while on "non-work" related mloa?
Arash's answer
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Answered on March 11, 2010
Unfortunately, in the state of California all employees are "at-will" employees. As such, your employer can terminate you for any reason at any...
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