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Have found a local attorney we installment loans california bad credit think we may contact. If they send us a 1099-C, they write personal loans phoenix az off the balance and we have to claim it on our tax return, but they get nothing.

If they contact us to work out some sort of settlement, we might be able to work something out. On the face, it seems like it would be better for the lender to settle and avoid the cost of the suit, or the hassle of our bankruptcy. There is no way to tell what option the lender cash lender may take. In my state, if the property falls outside the anti deficiency statute, a lender has 90 days unsecured personal loans online from the foreclosure to sue. Find out if there is such a time-limit in your state. Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages. My belief is that the new revisions are protecting banks and lenders more than the consumers. Now, as victims from the subprime mess continue to grow, bankruptcy filings are going up and this may yet be another kink in the growing mortgage crisis. Filing bankruptcy up until 2005 was pretty inexpensive proceeding. There are a couple of different types of changes we propose.

One is to make filing for bankruptcy less complicated. The other is that bankruptcy laws be changed to give people more tools to deal with foreclosures, including these exploding adjustable rate mortgages (ARMs) you see now, where payments just go so high because of the interest rate adjustments.

So we propose changes to make bankruptcy more useful. The two months, or slightly longer, is how long mortgage companies will usually give debtors to catch up outside of bankruptcy. Our proposal is to take the ARMs and re-amortize them over 30 years as a fixed rate. You re-amortize it over 30 years and pay off the mortgage that way. One of the nice things about bankruptcy until 2005 was that it was a pretty inexpensive proceeding. All of these are new requirements, along with the requirement of obtaining credit counseling before bankruptcy and a credit education course during the case. SM: Steve Bartlett, president and chief executive of Financial Services Roundtable, an organization that represents financial-services companies, in May in Congress that the new bankruptcy reform law is working well as evidenced by the big decrease in filings since it was enacted. He bases that cash lender on the fact that the number of bankruptcy filings are down. There was kind of a superficial publicity when the new law went into effect. People have tendencies to put their heads in the sand and wait for a solution to come.

The comments by me and the materials available at this web site are for informational purposes only and pesonal loan not for the purpose of providing legal advice.

Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and emergency loans for single mothers may not reflect the opinions of the firm or any individual attorney. Please Read our Can anyone give me some advice on if I file Bankruptcy chapter 7 during a forebearance and am 877 cash now in suspended foreclosure, will the bank try to lift the stay and foreclose or continue to work with me? Any help,advice or suggestions would be appreciated. On a more serious note, that is a very good question. Who knows with these banks wanting to pull peoples homes out from under them. I understand it is very easy for the banks to get the stay lifted and sell if they want to. Especially in Chap 7 which is useless to keep home, only delay sale until stay lifted. Moe and Evan: there are already several threads that deal with this and related issues.

Can you combine them so that the information is more accessible? Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages. Hopefully it will sell, and we can start the 30 day countdown! I am glad we got out of the old neighborhood when we did, as we have noticed more foreclosures since we left, and the place was starting on a downward slide. There was no talking payday loans by text to them or trying to be civil with them about it they felt like it was their given right signature loans to do so. UPDATE: Today we received a photo from a neighbor showing a sign was placed on the door stating the home had been bought at auction, and that it was now owned by a third party. The notice stated to call within 72 hours to discuss the options mentioned. You can look in the front door of the house and see it is vacant, but all the other blinds are drawn. Failing that, you might ask about leasing from the new owner.

I will call them Monday (making my number private) and see about getting C4K.

I would let them know that I had a garage door opener and keys to offer and would be out on their time frame. I never called about asking for C4K, as it was easy to see that the house was already vacant. However, I did get a letter from SunTrust stating that my second mortgage was 90 pays due, in default, and that options were available to avoid foreclosure (Obviously a pre-formatted letter).

I cash lender stopped paying this mortgage the same date I stopped paying the 1st mortgage, so I am not sure how cash lender it just 90 days past due. I checked CreditKarma, and my credit score had actually gone up a few points, and it appears that SunTrust has removed the 1st mortgage, and it is marked as closed.

However, the 2nd mortgage still remains on my credit, and it is showing as 5 months delinquent. So, I was wondering why this still remained on my credit.

This would in turn make this a SOJL, and should have been closed at the same time as quick easy money the 1st. Should I write SunTrust to inform them of this, and is there some legal mandate or credit jargon I can throw at them when I send my certified letter to them? So Suntrust can likely sue you for that recourse SOJL. I tried to sell it starting back in Feb 2013, and moved out after I got married in June. It took only four missed payments for Bank of America to foreclose (nov.

This forum has been so informative and thankful to those who posted their stories. I felt like I was alone in this process and I was comforted by knowing that there are many more going thru this process.

I looked at my credit report today (Credit Karma) and was relatively pleased that my credit only cash lender took a 120 point hit. Question is Bank of America is no longer showing on my credit - it shows closed. Anyone have any idea what it means by Bank of America closing the acccount? Does this mean they sold the home and got their money? Are they hoping I am not aware of this, and will give them some money?

Also, GA law prevents the lender from suing when both loans were originated for the same property.

Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages.

I understand the foreclosure timeline in my state (NV) AFTER the notice of default is filed. Does anyone know of a method to cause the lender to file their NOD without delay? Each month the lender delays foreclosure, fees and interest continue to accrue against the borrower, correct? Does anyone know of a method to cause the lender to file their NOD without delay? Of course the first two options are always more favorable. The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual personal lending attorney.

Please Read our Privacy Policy and Legal Disclaimer If a lender does not foreclose or accept a DIL within a reasonable period of time after the borrower is 3 payments late, do interest fees continue to accrue on the mortgage balance? Example: If borrower went into default on June 1, and the lender took two years to foreclose, would interest fees and other penalties keep accruing during the extended period of time?

Can anyone shed any substantive information on this? Does no one take this into consideration when they literally walk away from the home? To find the answer to your question about interest and fees, you might read your note and see what it says about that. You might also check NV statutes that govern mortgage loans. Reference insurance, many strategic defaulters are judgment proof.

So even if someone is injured, sues and is awarded a judgment, there is no way to collect since there are no assets. And yes, the lawsuit for deficiency, although not common, is possible. Borrower, having how to apply for a personal loan filed BK recently, cannot file again and is therefore stuck with the new judgment. I realize that this is a very unlikely scenario, but the possibility does exist.

And yes, the lawsuit for deficiency, although not common, is possible. Borrower, having filed BK recently, cannot file again and is therefore stuck with the new judgment. I realize that this is a very unlikely scenario, but the possibility does exist.

You are trying to get the lender(s) to hurry and finish with foreclosure so you are off the hook for potential liability, and move on with your life. Sounds like you are worried about being sue, you must have lots of money.

Borrower vacates after defaulting, time passes and the insurance is cancelled. This is definitely a concern for many who vacate prior to the foreclosure auction, and other than renting the property to a prospective tenant, you can purchase a vacant home insurance policy. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain loans quick advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please cash lender Read our Privacy Policy and Legal Disclaimer Get free mortgage help today. Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages. After our modification with Wells Fargo was denied, and after meeting with 4 different lawyers, we decided to let the foreclosure happen rather than go through bankruptcy to keep it.