HOA sued me and my house is in foreclosure?
It would be irresponsible on the part of the HOA to not take every legal avenue to try and collect money they are owed. If you agree to a Deed in Lui or short sale- insist that part of the settlement is to settle up with the HOA. If you let the house go into foreclosure then you may owe the mortgage company any shortage from the loan they are not able to recover from the foreclosure sale- and you may owe the HOA also. The exact answer depends on your state laws and how the paperwork is written that you signed at closing. You credit will be hurt either way- but if you continue to owe money after foreclosure you may also have to go thru bankruptcy-(again depending on your state law and such).
What are some ways that prevent a bank from foreclosing in the US?
Here are the ways to prevent foreclosure in the United States:1. Make your payments2. Work it out with your lender - forbearance, loan modification, etc.3. Sue the lender and win on the merits of your case.Here are ways to delay foreclosure, but they absolutely don't "prevent" it in the long run:1. Be in active military service (see: SCRA)2. Declare bankruptcy3. File a lawsuit that isn't ultimately successful, but is enough to get the judge to issue a stayAnd a few that do not prevent foreclosure:1. Missing note, documentation, filing or error in filing (mortgage mistakes) - the laws in most states allow the lender to create these after the fact with sufficient evidence. For example a Lost Note Affidavit.2. Adverse possession - not even related.There are occasionally other situations that may stop the lender from foreclosing, perhaps like your example of getting the case dismissed multiple times, but that is luck, not prevention.
My landlord’s home that I’m renting is in foreclosure. He has my deposit which I doubt will be returned. How should I handle this and protect myself?
John Taylor is correct. Legally your deposit is supposed to be kept in an interest bearing account, and in January you are supposed to get a check for the interest. It would help if you could dig out proof that you paid it. The bank may have a record of your check; most companies keep records for 7 years before they toss them.In any case, the new owner is responsible for maintaining your deposit, and if your old landlord didn’t (probably) do what he was supposed to do, the new owner buys that debt.As for myself and my mate, we have lived in our place for 16 years and plan to either buy this place or die here. We’ve been through landlords like you wouldn’t believe, so I’m quite sure our deposit has been “lost.”In actual fact, I never got my security back from any place I’ve ever rented. There is always something wrong. I did get the security back one time, and that took over a year. That was over 40 years ago.You really should pick up a copy of tenant/landlord rights and obligations from your local Housing Authority. I never did that when I was younger. There’s a lot of stuff I didn’t know that I should have.Always have a paper trail! Signed documentation. A written copy of your lease agreement. Keep records of anything that starts out wrong, messes up, how long it took to get fixed. Photos help too.Now that I’ve opened the subject, I can tell you what I have learned from court TV. Take photos before your move in, take note of anything, anything, that is in need of repair, scratched, dented, needs paint, etc. and make your landlord sign off on it. That way when you move out they won’t charge for for stuff you didn’t mess up. And always clean the place thoroughly. Don’t leave anything in the apartment. Especially clean the refrigerator and stove! All of these kinds of things will chip away at your deposit, and you might have to go to small claims court, so be prepared.
Foreclosure Deficiency Judgments?
Lenders actually almost never sue homeowners after foreclosure for a deficiency judgment. They will have to hire local attorneys again to initiate the foreclosure. It will cost them money and take time to do this. Once they get a judgment against you, they will have to spend more time and resources trying to collect on it. But, you've just proven to them that you don't even have the money to make a mortgage payment. So there's little reason to believe you'd be able to pay tens of thousands of dollars in judgments. You're also essentially homeless now -- how would they know where to serve you with court paperwork and make sure you were served correctly? They wouldn't. It just costs too much after the bank has lost money on the loan, and takes too much time after the foreclosure, and there's little chance of homeowners ever paying the judgment. Banks almost never sue foreclosure victims for deficiency judgments, even when they are allowed to do so.
HELP! How do I avoid foreclosure on my home?
We recently started a new business and things have been extremely slow so we've had virtually no income. We've been living off of credit cards and been unable to pay our mortgages(we have 2). I have now received letters of intent to foreclose if we do not come up with the money in the next 10 days. I am wondering what my options are. Should I just throw in the towel and let them take the house? I know my credit is shot but if it's in my name only, would my husband's credit still be ok? I just had a baby and we have a 4 year old. I think if we had enough time we could get the business generating enough income but I'm out of time. I don't know what to do!
What will happen when my house goes into foreclosure?
The bank will sell it for what they can get out of it and sue you for the difference if it's a loss. Example: You owe $200,000 but the bank can only sell it for $150,000. You will be responsible for $50,000 plus any and all other fee's the bank incurred for attorneys, Realtors, taxes and etc. Plus, a Foreclosure will show up on your credit report, and all but doom you from getting any credit for anything.
My ex purposely let our home go into foreclosure!?
In our divorce agreement it clearly states he is solely responsible for all mortgages,taxes, maintenance etc.... Is there anyway for me to fix my credit? Can I show this agreement to the credit agencies? My score itself is good but the foreclosure is preventing me from getting a home or car!!!
Can I sue my Mortgage company for mental anguish, and loss of my job as a result?
I have been to court with their attorneys to keep my condo. I am now in a foreclosure status, and have been fighting with them for approx 2 years now. I did the whole "trial Mortgage" and here it is a year later (the "trial" should have only been for 3 months). I have been making the payments during the trial period on time as requested. Now they are telling me I am in foreclosure status, and they have returned my check for this month- indicating that they will not take a personal check on a foreclosure. The letter also said there was not enough funds in the bank account, and that letter came the same day that the statement from the bank came showing that the funds were available for them to take the funds. I have had to go to the state Attorney General for assistance in the past when they said they did not get my paperwork they had requested, however, I had proof that my fax was successful - showing the date and time it was sent. Meanwhile, my company I worked for was going through some changes, and one of the criteria that they were evaluating us on was our job performance (which is normal). However, I had the first negative review of my entire career at the company (14 years), and as a result I was laid off when it came time to reduce numbers. My job has been outsourced. I feel that if I had not been going through the ordeal with the Mortgage company, that I would have had a better performance review, because I would have been able to concentrate better, and may not have been laid off. There are several people from my department that are still there. I was one of 5 let go- out of 14 from my team.