Alexander Florian Steciuch's answer If your landlord is not paying the mortgage on the property, it is not an issue for you until the foreclosure proceedings begin. If the property you are living in is foreclosed on successfully by the bank or mortgage holder, your landlord will have violated the lease agreement as they can no longer provide you with a place you can live.
David Earl Phillips' answer Yes. You do not have to wait on the sale. You should notify the attorney doing the foreclosure and the sheriff office that you are vacating the property. Also, turn off the power and water. If you had a bankruptcy lawyer, tell them that you are moving out. Good luck!
David Earl Phillips' answer You will need to see a bankruptcy lawyer before the foreclosure date to determine if you qualify to file a bankruptcy case. Chapter 13 is most likely going to be the best way to stop the foreclosure and maybe keep the rental property. The IRS repayment can be dealt with in a chapter 13 plan and the fact you are paying the IRS now will not prevent a chapter 13 filing. This is a situation that is not DIY. You will need a bankruptcy lawyer asap to see what your options are. Look on Justia for a...
Alexander Florian Steciuch's answer The best advice that can be given in this situation is that you should consult a local Indiana attorney to assist you and ensure that the matter is handled correctly.
In short, if your tenant is not paying his or her rent, you have every right to evict him or her. Indiana Code 32-31-1-6 requires that a 10 day notice to quit premises be served on the tenant or a resident living there. There are numerous exceptions to this however, such as if the tenant is committing waste or the lease...
Timothy Coe's answer It is not at all uncommon for no one to show up at the sheriff's sale and for the bank to buy the property for what it's owed. At this point re-instating the loan is not an option. Your rights to the house have been foreclosed. You may try to contact Deutsche Bank to try to get a lease-back or you could try to get a new loan to re-buy your house essentially. But your chances of getting one for the same property that you were foreclosed on is not that likely. Before you went to sheriff's sale...
Timothy Coe's answer What you are talking about is a Deed in Lieu of foreclosure. It is unlikely that the bank would go for it because they are still taking it subject to the second bank's mortgage. If you file a bankruptcy your bankruptcy attorney will be able to help you surrender the house as part of the bankruptcy so you won't owe anything else (as in a deficiency judgment) and you won't be on the hook for any taxes that may come if you simply gave the house back as it were.
Burton A. Padove's answer I am sorry that no one answered this sooner. Hopefully, you did receive help independently from Justia Answers. Regardless, in the event that you still need help, please repost with information concerning the county where you live.
Burton A. Padove's answer I am speculating but ti sounds as if you are asking how to give a deed in lieu. Mostlenders have their own procedures and qualifying requirements for accepting a deed in lieu. You need to contact your lender. Be prepared to provide a substantial amount of information and for a somewhat time consuming process.
You also have the option of just not responding to the Complaint. However, these days a number of the lenders are sitting on their foreclosures once filed, so in the meantime,...
Burton A. Padove's answer This means that those persons who were occupying the house have been dismissed from the case. An example would be when a Plaintiff names a tenant without knowing that the house had been vacated.
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