Anthony Marvin Avery's answer 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 destroyed by the Foreclosure of the First Trust Deed as the Second Trust Deed is. You can argue this Defense in a Tennessee Court but the Noteholder will assert Missouri Law applies in this Case or...
Anthony Marvin Avery's answer 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 protecting their assets now, and possibly hire a competent attorney to advise them about collection methods and exemption rights.
Anthony Marvin Avery's answer 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 this.
Anthony Marvin Avery's answer 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, which again will be expensive for probably the first six months to a year to cure the default. If you have no grounds to contest the Foreclosure, then Chapter 13 Bankruptcy will be your only hope.
Anthony Marvin Avery's answer 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.
Anthony Marvin Avery's answer 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.
Anthony Marvin Avery's answer 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 executes the Writ, physically removing you. The property can be shown, looked at, etc., and you cannot do much as this would be prosecuting a trespass charge in the same Court which will ultimately...
Mr. James Charles Wright's answer 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.
Leonard Robert Grefseng's answer 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.
Leonard Robert Grefseng's answer 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 know that it wasn't actually that defaulted on the note ( it was the ex-wife). He should also considered taking legal action against the ex to make her comply with the divorce decree or pay damages or...
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 required to actually pay or deposit a fixed sum of cash, their signature just makes them responsible for the court costs. Recovery of damages for the wrongful eviction will likely require a new,...
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