what are our legal options to keep our home?
If you can find a lender to refinance. If not, you can put your arrearages in a 24 month repayment plan and probably keep your home.
You do not need a lawyer to prepare the deed, or to record it, if you competently know how to do it yourself.
My house sold at public auction (foreclosure) yesterday, Sept 5th. The deed is in my wife's name and she abandoned the property about six months ago exclaiming that she wanted nothing else to do with the house and that I could have it as I am still in the house and don't want to loose it. This was... Read more »
If the house sold at public auction then likely the deed is no longer in your wife's name and the only way you will get that house back is to negotiate a purchase from the current owner. As to being legally separated - in NC there is no such thing as legally separated. You are simply either... Read more »
Mother's house in NC had reverse mortgage that upon her death was/is WAY upside down. House is in preforeclosure now, hopefully soon to be in foreclosure. Got a Property Tax bill addressed to susieQ's Heirs. Are my brother and I liable for this tax? No assets. We would have to pay out of our own... Read more »
You need a local attorney to explain to you why you do NOT want to be involved in the probate of this estate. If your name is not already on the property you do NOT have any responsibility for this, and it seems rather odd to me that a tax bill would be addressed to 'heirs' rather than the estate... Read more »
The house was sold under contract for deed in 2011, the buyers never made any payments and disappeared after 4 months leaving the county and leaving the home with many repairs. We have been renting the home and have had no luck locating the buyers who disappeared. We want to sell this house but,... Read more »
If you can locate the buyers, the parties can sign a document that will terminate the contract and any rights the buyers might have to the property. There is not enough detail in your question to determine the current status of the contract. Likely the contract is in breach and you could sue to... Read more »
We owned a house together in NC. We filed for bankruptcy and the bank tried to foreclose on our portion. The foreclosure never went through. Our bank gave up. My mother in law then became ill and defaulted on her part. Her bank was trying to foreclose on her portion of house. How can they... Read more »
OK - let me get this straight - you and mother-in-law jointly owned a house - how - as tenants in common or as joint tenants with right of survivorship?
Foreclosure would make sense only if the property was mortgaged - who was liable on the mortgage? You or your mother-in-law or both?... Read more »
I own a home in Wake County. Due to loss of my husband's job and his subsequent hospitalization and current medical condition, we defaulted on our loan. We tried a loan modification with our bank but were unsuccessful. We have found a buyer for the property who is willing to pay the full amount... Read more »
This is a difficult situation. If you do not receive advice on this website from a North Carolina real estate attorney, I suggest that you schedule an in-office consultation.
Am I held responsible for the balance of what is owed on my home if it sales for less then what is owed? example; I owe $102,000 if they sale it for 85,000 do I owe the difference?
It depends. Was the mortgage through a traditional bank or third-party or did the seller provide financing? If the latter, then no, you do not owe a deficiency. If this was through a regular third-party lender, then you do owe a deficiency but that does not mean that a bank will seek a... Read more »
If an HOA forecloses, the property is sold at a sale subject to the mortgage and the new buyer at the sale. Depending on the amount of the dues, this might even be the mortgage lender. However, you are responsible up till the time of the foreclosure sale and through any upset period, if... Read more »
Do i need a lawyer before signing any paperwork or verbally agreeing to anything over the phone.
The answer is it depends on a lot of details which you don't relate.
Do you have only one mortgage on your property? Is your home underwater or do you have some equity? If you have more than one mortgage, then you cannot do a deed in lieu of foreclosure.
What kind of bankruptcy are... Read more »
He told us that he sold the deed to someone else and we knew nothing of that either. It is true that we finally started receiving letters of the foreclosure but it was too late by then. My husband was unemployed and we could not afford to save it. Can we sure the man?
You could not have legally deeded the home to someone else without violating the due on sale clause of your mortgage. And even if you did do that, deeding the property away does not take your name off the mortgage. You would still be responsible for the mortgage unless the mortgage lender was... Read more »
It depends. Assuming that a first mortgage has not been paid, about 4-6 months before a foreclosure petition has been filed. Once a petition is filed, the hearing will be held within 45-60 days. If the mortgage is found to be in default, then a sale is ordered withing 60 days of the foreclosure... Read more »
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