Usually the Deficiency Suit will be barred after two years from the Foreclosure Sale, as it is the earliest SOL. Rarely will a Noteholder wait almost six years to Foreclose and then sue upon the remaining Note Indebtedness. Hopefully Tennessee Law applies to your Second Note, which is itself not...Read more »
My parents let a TN property go since they cannot afford it anymore. The bank is threatening to sue them if they do not pay the difference from a cash offer they have for a short sale. My parents have no money anymore to pay this.
The other options was to pay them monthly for the next 10... Read more »
You should not have sent them any further financial and asset information. The Bank will sue them for the Note Deficiency, which will include alot of penalties and attorney fees. After the Bank gets a Judgment, it will use the information to execute on your Parents' assets. They should start...Read more »
I have owned my house for around 12 years, my husband has lived there since we married less than 5 years ago. l am the only one on the deed and mortgage. The house is in pre-foreclosure, but I have found a potential buyer who is offering enough to cover the balance. Husband is aware of the... Read more »
As long as you are alive He has no legal interest in the property except his possession. His signature is not required to transfer the home, but many places will want him to sign anyway to satisfy Title Insurance Policies. The purchaser may have to file a Detainer Warrant on him, and he may know...Read more »
What are your grounds? Any competent attorney will be expensive and you will probably have to put up a Bond to put down a Temporary Restraining Order. You do not have much time and it will take alot of work to file suit in Chancery. It may be more feasible to file a Chapter 13 Bankruptcy,...Read more »
We purchased a home at a foreclosure sale. The electricity has been off 5 months. and the neighbors tell us the owner moved 2 years ago. They have our number and are calling requesting items in home do they have rights to items left 2 years ago?
Yes. The Statute of Limitations on Conversion is three years. They could also sue you in General Sessions for an Action To Recover Personal Property. But I doubt any Magistrate will issue an Arrest Warrant for Theft of Property. It is basically a civil matter.
Not sure what debt you are concerned about. But the Deed of Trust Note must be sued upon within six years of default, unless some other period is agreed upon. Usually you will be served with the deficiency suit and the creditor will get a judgment which is good ten years from judgment.
In Tennessee any new owner from the foreclosure of the Deed of Trust will take title subject to your possession. They will have to file a Detainer Warrant against you, serve it or post it, get a judgment for possession, then after ten days, request a Writ of Possession to issue. The Sheriff...Read more »
I am intrigued as to how a law firm ended up with a lien on your home and this may impact the response. But beyond this, if the law firm legally dissolved a proper lien right would not just disappear. The rights would pass to someone- potentially even a creditor of the firm.
A mortgage company conned my mother into signing her Deed of Trust putting a lien on a piece of land she inherited from her mother's estate on 4/16/07. After my mother's passing I learned that my mother's brother never signed the quitclaim on my mother's land when it was inherited in May 2002. Now... Read more »
Your mother's brother ( your uncle) may have an ownership interest in the land. In other words, while your mom doesn't own anything ( her interest has been foreclosed), he may still have rights in the property. However, time is working against him, he needs to consult a real estate lawyer asap.
My brother in law got a divorce back in December of 2013. Part of the divorce agreement was that his ex was to take his name from the note and have her's solely on there and also that he would pay her a monthly amount of 500.00 for the first six months after the divorce to go towards the mortgage,... Read more »
Not much, really , but everyone has the right to respond to any information on his/her credit report. In other words, he has the right to tell "his side of the story" and have that response on the credit report also. This way, when a lender reads the credit report, at least they will be able to...Read more »
I won a FED on appeal. I am the defendant. I am attempting to find out where and how much the Plaintiff's bond is and where or to whom was it paid. No one seems to know. We were wrongfully evicted and now no one including, the General Sessions and Circuit Court Clerks can tell me how or where... Read more »
I suspect the "bond" you are referring to was not for your protection, but was to secure payment of the court costs.
If there was a "bond'- it would be described in the court filings: someone would sign as a "principal" and a second person would sign as a "surety." They probably were not...Read more »
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