Great grandmother died in 1985. Left property as heir property. My mother held power of attorney. My great-uncle attempted to sell the property. He couldn't b/c the heirs never paid my great-grandmother's attorney for the work he did. As such, the deed was never transferred to the heirs. Taxes are... Read more »
There are steps between the taxes being due and a foreclosure sale, but those steps vary by jurisdiction. The short answer is that paying the taxes does not buy the title for you. Unless the actual title owners agree, it buys you nothing but a dubious claim for contribution, and that is limited if...Read more »
The private lender has charged me interest only on a mortgage loan. part of the loan was repayed in Sept 2018 and the balance principal was only supposed to be $7k. The lender and lawyer has been going back and forth with the amount that I owe - from 32k to 9k then to 14k and now I am ready to... Read more »
You can check the registration status of your lender through NMLS (the Nationwide Multistate Licensing System / Nationwide Mortgage Licensing System and Registry). They maintain a consumer oriented website, here:
If the notary is applying for the loan, he cannot notarize his own signature. Almost all settlement agents are notaries. And, notaries can of course be a witness. That’s pretty much what a notary is: a witness to the authenticity of a signature. Maryland Law does require deeds and deeds of trust...Read more »
The answer depends on who is asking. For instance, the best thing for your father is for you to obtain a loan and to pay him the full purchase price in exchange for a deed. He then walks away and you live in the house. The best thing for you might be an option to purchase, or a rent-to-own. These...Read more »
But are listed on the mortgage note, as the Lender. The loan has been sold and transferred several times. The latest one it was transferred or sold to is Ocwen Loan Servicing. They've had the loan twice.
The beneficiary under a Deed of Trust IS the lender.
Although this online forum is not designed to seek legal research on specific issues / entities / matters, you can check with the State Department of Assessments and Taxation (SDAT) for information on the last known resident agent for...Read more »
Your facts are dripping in self-dealing and breach of fiduciary duties, and the claim that one trustee stole funds while the other stole the property are just oozing from your question. The notion that trust instructions give you the power to buy and sell does not mean that you can buy and sell to...Read more »
Do i have any other options? I heard I could do a debt in lieu of foreclosure by handing in my keys. HOW long do I have to do this before I have to move out. These loans were bought during the write off days of the mortgage bust and now I am at risk of losing my house because the new companies... Read more »
A deed in lieu of foreclosure simply means you hand over the keys and deed and move out, but you must first get in writing that the mortgage company releases you from personal liability on the remaining balance of the mortgage. You'll have to cut that deal with the first mortgage holder, and make...Read more »
If there is little or no equity in estate owned property and the lender is willing to accept a deed-in-lieu of foreclosure, then yes, a Personal Representative has authority to sign such a deed. Whether or not a deed in lieu can be done depends on the willingness of a lender.
As a real estate investor, I target tax delinquent properties. those who are behind on their property taxes. From what I know there is a default time where the home owner goes behind on the property taxes and then I believe it goes to auction and you have to bid for them? I want to pursue the... Read more »
You essentially ask about tax sales. Each county has different dates and specific process for the sales/bidding, but in Maryland if the taxes are ~6 months or so past due, the county holds an auction. The county will advertise the auction in advance. The property owner can pay up the taxes, in...Read more »
I am trying to avoid forclosure. The house is now on the market and there has not been any interest. I do not want to be a landlord living in another state. But, I definitely do not want to property for forclose. What are other options in the State of Maryland.
When she was diagnosed with Alzheimers a lawyer advised us to change her house to the children's names even though she had a mortgage so that if she was put in a nursing home they could not take it. She has since passed and the home was foreclosed on. The sale of the home did not cover all fees.... Read more »
Generally speaking only the borrower(s) who signed is/are personally responsible for debt, although obviously the lienholder / mortgage company has rights to take back the property if the loan isn't paid. At times, however, relatives "assume" a mortgage, in which case they step in the shoes of the...Read more »
You can still evict them. I would first attempt to evict "the owner and all occupants" using a forcible/entry and detainer action. If the person living on the property ends up being the former owner then congratulations! If the person living on the property is not the former owner, then they may...Read more »
Yes, generally the owner of the property can continue to use the property or rent it out until it is sold at foreclosure. The law gives certain rights to a tenant under a bona fide lease - if the bank buys back the property a tenant may have the right to continuing living there and paying rent to...Read more »
Until the foreclosure sale, the owner can attempt to sell. Of course, the sale is subject tot he costs and expense of the mortgage. But it remains the best option for realizing full value. But since foreclosure cases are public records, many know that the auction sale will be less expensive.
The Personal Representative of the Estate stands in your father's shoes. If no estate was opened, it is likely the mortgage company will force the opening of the Estate. You would need to open the estate, anyway, in order to inherit his interest.
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