Mortgage lender hasn't contacted me for over 9 years with no payments made for 9 years. Now received a letter stating it is from a "debt collector" which appears to be an attorney's office.
answered on Nov 20, 2023
In Virginia, a deed of trust with a stated maturity date has a statute of limitations of 10 years from the maturity. If there is no maturity date, the statute of limitations is 20 years from the recordation date of the deed of trust, except for credit line deeds of trust. With a credit line deed... View More 
I’m getting an uncontested divorce and under the terms of our agreement, refinance is scheduled to occur in a timeframe not to exceed 4 yrs. The loan is joint and so is the title. We have decided, I will stay in the house; can I change the title to my name via a quitclaim deed? Is it straight... View More
answered on Nov 15, 2023
Any attorney that practices in the area of real estate should be able to assist you. I have drafted many deeds being executed pursuant to a divorce or a settlement agreement. However, when both parties are on the title to the property, I have never used a "Quitclaim" deed, but instead I... View More
Nelnet is the loan company and won’t process a deferment or income driven payment plan in that time frame, leaving me no choice but the pay the 7500 extra to buy down, despite us definitely being eligible for the income driven payment plan. Can I do anything about this? I feel so helpless like I... View More
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answered on Nov 13, 2023
In this situation, where your mortgage loan officer has requested a deferment of your student loans or an additional payment of $7500 shortly before closing, and Nelnet is unable to process the deferment in time, you do have some options.
First, communicate with your loan officer about the... View More
I'm starting a real estate company focusing on residential rentals (single family, multifamily, apartments). Which business structure offers the best tax advantages?
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answered on Sep 29, 2023
LLCs and S Corporations are often considered advantageous for real estate ventures due to potential benefits like pass-through taxation and liability protection. You should consult a tax advisor to analyze which structure is most advantageous for your specific situation.
The home was owned jointly and equally by my husband his father mother and sister. No one gave any art of it away. My husbands niece says years ago after his mother passed that the 3 remaining owners signed over part of the home to the 2 remaining sisters but the gift deed wasn't filed with... View More
answered on Sep 20, 2023
Your description is complex, and the details are critical. The matter is also likely to be time-critical. Any opinion rendered without reviewing the documents and the facts, and likely after some light research on race (not ethnic, but means of filing) recording and duties of notaries in your... View More
The issue involves an HVAC company (AllTech) that performs HVAC and plumbing services on my condominium (Unit 304) and my neighbor’s (Unit 404) who lives directly above me. The issue is that AllTech failed to properly re-insert the condensation pipe into the drain when performing service on Unit... View More
answered on Aug 21, 2023
Assuming the condominium unit is in Virginia, I don't understand why you would not report a claim to your hazard insurance company for damage to your unit. The insurance proceeds will be used to repair the damage to your unit. Your insurance company will be subrogated to your right's to... View More
And it was not on contract to have dock or pier inspected
answered on Aug 20, 2023
It depends on what the contract says, but the option to terminate the contract expires at the time stated in the contract. You should read the contract carefully or get counsel to review it immediately.
The issue involves the HVAC company (XXXX) that performs HVAC and plumbing services on my condominium (Unit 304) and my neighbor’s (Unit 404) who lives directly above me. The issue is that AllTech failed to properly re-insert the condensation pipe into the drain when performing service on Unit... View More
answered on Aug 20, 2023
Assuming your unit is in Virginia, I am not sure why you would hesitate to use your hazard insurance for a claim. Your insurance carrier will straighten it out, and use subrogation to recover from the party who is liable. Sure, there is likely common element damage as well, that should be covered... View More
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answered on Aug 7, 2023
If a Virginia court invalidates a mechanic's lien, it typically does not reset the clock for the 90-day period in which a lien claimant must file their lien. The 90-day period usually starts from the last day of labor or the last day materials were furnished. The court's decision to... View More
I have a question whether I should go on the title with her on the investment property or Is it better to stay off the title ? My intention is to protect our primary home and personal assest against any law suits we might face in the future on the rental property
answered on Aug 2, 2023
A married couple buying an investment property in Virginia should consider several options for holding title. Most couples hold title to real property as tenants by the entirety with the common-law right of survivorship. The tenancy protects the property from the debts of either spouse alone,... View More
an agreement is reached between siblings and one of them buys out the other two ( april 2023 ), so the house is now owned by one person ( sibling ). i am buying this house ( july 2023 ) with title insurance. do i need to worry about any future lawsuit from any of the siblings ? extended... View More
answered on Jul 7, 2023
Before you close, your title agent will order a title abstract that shows who holds legal title. The insurance company and your lender will not allow the closing to proceed if the seller does not have good title. While it's best to read the actual contract to be sure of this, it's more... View More
We made a gentlemans agreement with the owner to rent to own his property. We paid him $25k for down payment and as a show of good faith he wrote us a quit claim for 2 trailers on the land. He passed and now the estate is trying to evict us with refusal of any funds, but the beneficiary (his... View More
answered on Jun 20, 2023
The wording of your description of the circumstances is not clear. Contracts can be verbal or implied through action. Verbal contracts can be written or oral. A trailer may be personal property or it may be part of real estate if attached and the title is changed. An estate acts through the... View More
We made a gentlemans agreement with the owner to rent to own his property. We paid him $25k for down payment and as a show of good faith he wrote us a quit claim for 2 trailers on the land. He passed and now the estate is trying to evict us with refusal of any funds, but the beneficiary (his... View More
answered on Jun 19, 2023
Oral agreements on real estate are not binding. All contracts regarding real estate must be in writing. Sometimes, a writing can be found from things that aren’t thought of as writings, such as an email, receipt, or check. You need to review your specific facts including every written... View More
a family trust was established and every document mentioned every child by name and says and their descendants have a shared right to use of the land. 2nd great grandfather died in 1930 and up until 1986 all documents list all siblings, some of their children(my deceased grandmother was named) and... View More
answered on Jun 7, 2023
The argument is most likely specious, but real estate title is decided by what the documents say, not what you say. Buy a consult with a lawyer licensed in the state where the property lies, get a title search, and get a reliable answer. You need to do this before you surrender your and your... View More
5 months later the mortgage co. (sps) files foreclosure after I submit the deed with my name. I have to give them $18, 000 by the first of June what can I do their relationship manager did not file most of the paperwork I sent her
answered on May 26, 2023
I am having some difficulty deciphering your situation. If the $18,000 if the balance of the accelerated loan caused by the default, and the foreclosure was filed because the bank didn't recognize you as the title owner, it's a fairly small problem, and a lawyer can get it solved often... View More
5 months later the mortgage co. (sps) files foreclosure after I submit the deed with my name. I have to give them $18, 000 by the first of June what can I do their relationship manager did not file most of the paperwork I sent her
answered on May 26, 2023
When the owner of real property in Virginia dies intestate - without a will - title to the real property "drops like a stone" into the names of the heirs. Property inherited by heirs does not pass free and clear of liens or security interests. The heirs take the property subject to all... View More
I'm selling my property in 2 weeks, Unison is using their home appraisal valuation to end the agreement vs sales price which is about 60k more than the sales price. So we are required to pay them the additional value even though is not what we are selling the home for.
answered on May 23, 2023
A sale of real property in Virginia must be in writing to be enforceable. Both the seller's and the buyer's rights and responsibilities are determined by reference to the written contract. The standard Realtor/Multiple Listing Service contract in Virginia includes provisions dealing... View More
I am a home owner in an HOA community in Virginia. My next door neighbor is rehabilitating squirrels in his home and in his backyard. He has a permit and a license through the Department of Wildlife, yet our HOA regulations state: "No non-domesticated animals, unlicensed or undocumented... View More
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answered on May 17, 2023
I'm not licensed in your state but from my NY perspective, it's possible that a licensed wildlife rehabilitator might not be considered as having "raised, bred, or kept" the animals in the same sense as a pet owner would since the goal of rehabilitation is to return animals to... View More
This is in Virginia. The woman came into the relationship with nothing and makes half as much as the man. She can't afford the mortgage, but he can and wishes to buy her out. She refuses to let him do so. Is there anything that he can do? If they do have to sell, does she automatically get... View More
answered on Apr 28, 2023
A lawyer may advice you to file a partition claim in which the lawyer may further suggest to ask the court to buy her out. But, all of these depends on how you both own currently own the property, how long you lived, who paid for down payment, who pays for mortgage, utilities, other expenses, etc.... View More
New homeowner here home was purchased Oct 2022, there is a built in playhouse off the deck that has been on property since Aug 2021 with no issues. I received a violation letter in the mail stating that this was not approved by the ARC committee and I need to file plans and have them approved or I... View More
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answered on Apr 6, 2023
Unfortunately, the fact that the HOA did not know about or complain about the structure may not be sufficient grounds to argue its existence. When you say "file plans," do you mean with the HOA or with the local municipality? Can you establish that the HOA is picking on you or otherwise... View More
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