I borrowed 48,000 16 yrs ago the 1st 6 yrs was 11.25% after modification it was still 8.9 alabama max is 8. I still owe 41,000 and I've already pd approx 83,000 and they still want to forclose what are my options?
We recently discovered that a mobile home sits on the back corner of our property we found out the owner died owing a mortgage her family informed me that they knew it was on my property due to the survey being done incorrectly but never informed us of the error can the mortgage company be held... View More
Move in asap? If so what paperwork do I need to file. I've noticed a couple different forms that could be filed. I Know to change the locks. I need to know the right way to go about it so I don't get in trouble or go to jail for something I didn't understand.
Just because the house appears to be "abandoned" does not mean that there is not a legal owner. It may be owned by a bank, and in the process of foreclosure, probate or bankruptcy. You would need to contact the owner or the owner's legal representative in order to make an offer to...View More
Go to the county revenue commissioner website and look up the owner of the property. The tax record should have a mailing address. You can send a letter to the owner to request that they clean up the property and if they do not act within a reasonable time, contact the Mayor's office in the...View More
Selling home which I own outright. Need to know in event of default if I have a right to reclaim and evict in Alabama. Selling it at auction would not be an option. Can I hold the title until it's paid off? Doing my homework in advance. Thank you.
To answer the question you would need to disclose if this is an Alabama Contract for Deed or a Vendor Lien Deed, both of which would ( if drafted properly) set out your legal remedies in the event of “default,” which should also be defined in the document.
The reverse mortgage lender has a security interest, or “lien,” on the real estate. You may be able to file a Ch 13 Bankruptcy case if you have an expectancy legal interest in the property as a legal heir. You would not be personally liable for the reverse mortgage if you simply surrendered...View More
No, the bank cannot take the vehicle in the foreclosure. They may file something in court with regards to an abandoned vehicle. But the foreclosure in and of itself will not give them the right to the car.
Office. I had to go through some nasty people to be given 3 hours to remove what was left in the home. The home sold for $10,000 more than was owed. The bank refuses to talk to me. What is my recourse?
Is the home in your name or just your deceased husband's? I'm assuming they foreclosed some time ago and filed some sort of ejectment action against you and him because you did not get out of the home immediately. Unfortunately, the time for you to file for chapter 13 bankruptcy and...View More
Property was left to two grandson and Will has not been probated. Mortgage company will not discussed with me, the daughter, citing Will not probated. Property located in Hayneville AL. BALANCE IS AROUND 24,000. Grandmother died July 18, 2017.
on it and sold it for less than was owed. Our daughter filed bankruptcy. My husband died. And the bank says that I must pay the $25000 plus interest. (Eventhough they had assured me after his death that I would not owe it). Do I have to pay it?
Assuming that you have signed a personally guaranty of your daughter's mortgage loan, then it is likely that you have potential legal liability for the remaining deficiency following the foreclosure sale. However, in order for the mortgage lender to have the legal right to pursue you for that...View More
Her daughter was supposed to be making payments on the house while she was sick and unable to, we recently found out she had not been doing so obviously. If I contact the mortgage company, is there a possibility that they will work an agreement out with me to pay the past due balance? I have the... View More
The short answer is that you have to pay the mortgage. You can't stay there and not pay. The mortgage company probably (if the mortgage is properly drafted) has a right to foreclose on the property and then get a foreclosure deed to the property without any Court proceeding. Then, you have 10...View More
You can try to cure the default by paying the arrears and foreclosure fees. If the grandchild is subject to inheriting the home and actually lives in the home, the grand child can file for chapter 13 bankruptcy to save the home.
That is a great question. The answer is that it depends. Really depends on the mortgage company, your income, your credit score, etc. I know that when you file for chapter 7 bankruptcy and wipe out the foreclosure, you can purchase a home after 2 years.
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