I am in foreclosure and have received a notice of motion for entry of an order of default, for summary judgement against usa and for judgment of foreclosure and order for sale. In the meantime, I am awaiting a response from the lender regarding a loan remodification I applied for. Also, I... Read more »
Left condo unit last march 2010, in a sinking ship (other foreclosures, bankruptcy, huge special assessments) tried to speed up the foreclosure by initiating leaving the unit. told by the bank in june 2010 the unit was in foreclosure and to contact their legal representation. in august 2010, sent... Read more »
It sounds like there is little to be done at this point based on your actions to date. You will be responsible for any excess beyond the foreclosure sale amount absent a forgivenss of the debt. If there is forgiveness,you will receive a 1099 and may ahve some tax liabilty. Since they accepted the...Read more »
If you were served by the Special Process Server before the appointment, yes. If you were served conventionally and within the time parameters, no. However, it is pretty academic, as if it is quashed, all that will happen is that you will get served again.
Yes, you will owe the difference. However, many lenders forgive the difference. Althoug that may sound great, in reality it is not as good as it seems, as a 1099 will be provided to the IRS and you may be responsible for taxes on the debt forgiveness. they cannot directly attach your social...Read more »
We received a notice of hearing (regarding our mortgage in Dupage County IL) It gives no information as to what needs to be done and if we have to be present. We do not live in IL. We have a home in IL that is being rented but is in foreclosure.
It means that on the date listed in the notice a motion or an evidentiary proceeding will take place. Usually, a copy of a motion is attached. Without more information being posted2cx9, I can not provide you with anything more constructive. Good luck.
The complaint states the capacity in which the plaintiff brings this foreclosure is the Mortgage under 735 ILCS 5/15-1208. They also list the assignment recorded as n/a. Don't they have to state who the actual holder of the Note is or who the assignment is under to have Standing to bring suit?... Read more »
when you bought the house, you signed a promissory note to the lender for the amount you borrowed. the mortgage is simply a lien on the property to secure payment of the promissory note. you are indebted to the lender for the full amount still owed and will eventually have a judgment rendered...Read more »
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