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Guest

My father and I are both on the mortgage, we are on the deed as well as my sister and brother. My question is, when my father dies and I'm left with the mortgage will my other property in CT be at risk if I walk away from the florida property. Also, can anyone on the deed be at risk of losing their other assets??

smithsussane · Posted: Sun Dec 21, 2008 11:02 pm Post subject:

Hi kc!

Welcome to forums!

If you walk away from the property and do not pay the mortgage dues, then the property will go into foreclosure. This will badly ruin your credit. In case, if you are unable to pay the deficient amount resulting from the foreclosure sale, the lender will have the right to place a lien on the property at CT.

If the property is foreclosed upon, then the lender will sell off the property. In that case, your brother and sister will lose the property.

Feel free to ask if you have further queries.

Sussane

Guest

My mother passed some time ago and I was left with her home in Broward County Florida. I had no intension of living there and so was luck enough to find a renter. This income is sufficient to pay of the mortgage I was forced to take out on the home to pay my mothers debts. Now, the renter isn't paying her rent and I think she moved out on her lease ( I live about 200 miles from the home). I do not have the funds to pay the mortgage, if I let BOA foreclose the home and they sell is for less than the owed amount "Will I be responsible for the unpaid balance?".

Guest

can a married spouse buy a house in fl without thier partners conscent

savior70 · Posted: Mon Oct 05, 2009 3:37 am Post subject:

To Bob,

Are you on the loan to the property? If your deceased mother is the only person on the mortgage promissory note, you cannot be held responsible for the default. Thus, if you let the property go into foreclosure and there's a deficiency from the foreclosure sale of the house, the lender cannot come after you to recover the deficient amount.

To Bruce,

As far as I'm aware of, Florida is not a community property state. Thus, both the spouses cannot have an equal undivided interest in the property, unless both of them are on the title. However, Florida divorce laws use equitable distribution to divide properties among spouses. As per the equitable distribution, what percentage of the property each spouse gets depends on his/her financial situation. Thus, I think you always have the right to purchase your own house as your separate property. As long as you're not in a community property state and you have the property solely in your name, your spouse cannot claim any interest in the property. However, it's always good to consult an attorney before making the purchase.

Guest

can i move into an abandon home that is in foreclosure with old owners permission and live there till bank takes over?

Guest

I was told by my lender, the previous owner, that the mortgage we recorded is "no good". Apparently there is a problem with the way it was written dealing with his trust. I have also been told by an attorney at Legal Aide the same thing. I am in Foreclosure and Im considering using this as a defense. If the mortgage is "no good", then what would happen?

jenkin7 · Posted: Thu Dec 24, 2009 12:50 am Post subject:

Hi down,

I believe you can move into the abandoned home only if the owner gives you the permission to do so. If the house has not yet been foreclosed, the ownership of the property has not changed. But once the property is foreclosed, the new buyer will have the ownership to the property and you will have to vacate the house as soon as possible.

Hi Derek,

If the mortgage was not recorded properly and has no legal value, you may not be liable to repay it and this could be used as a defense in against the foreclosure. But I am not sure on what ground the mortgage is considered "no good". If indeed there has been certain problems regarding the previous owner's trust which makes the mortgage deed void, the foreclosure could be stopped. However, you need to consult an attorney to know if the mortgage deed is indeed legally void and if there is a way to use this as a means to stop the foreclosure. An attorney would be the best person to help you in this situation.

Guest

my brother and his companion were paying amortgae on a house, his companion had the house in his name and recently passed away, leaving my brother as the executor of his estae. my brother could not afford the mortgage and the bank put the house in foreclosure. my brother walked away from the house, but know has found out that squaters have moved in . (adverse possesion) question, can my brother have them legally removed and move back in and try and work a dal out with the bank?

savior70 · Posted: Wed Apr 21, 2010 5:28 am Post subject:

To mmichell,

Did the bank not foreclose on the property? Is your brother on the title to the house?

Since your brother was the executor of this estate, he does have certain rights to this property and I believe he can have the squatters legally removed from the house. He needs to talk to a real estate attorney to find out how he can remove them from the property.

Guest

I purchased a residential lot in Pasco County in 2004. I recently had a survey conducted, to sell the property. My neighbor has a fence that is 3.7 feet on my property, however the fence was there when I purchased the property. I suspect the fence has been in place for a long time. what are my options?

smithsussane · Posted: Thu Aug 26, 2010 1:06 am Post subject:

Hi Andrew!

Welcome to forums!

Your query has been replied to in the given page:
http://www.mortgagefit.com/propertytransfer/adversepossession-lot.html

Take a look at it. I hope it'll help you.

Sussane

Guest

Mine and my husbands name are on our homes deed for which i hold in my possession. he has been laid off numerous time this year and even an approved HAMP modification was worst than what he began with . Now he is in danger of foreclose what recourse dose the mortgage company with me ? If any? Will they eventually just make us leave?And why do I have the deed ? Doesn't the mortgage company release that to us after the loan is satisfied?

Guest

My parents are in their 80's and have lived in their house over 30 years. Their neighbor confronted them for the first time in the entire time they have lived there that they would have to move trees and shurbs that was next to the neighbors fence and possibly a garage that is 5 feet away from the neighbor's fence. The neighbor is saying that he found out he owns 4 feet of land on the other side of his fence which my parents and he thought belonged to my parents. Now after all these years he wants to move his fence over and claim ownership. Does he have the right to make them move their carport and trees that have been in place all these years. The neighbor put the fence down prior to my parents ever moving next door over 30 years ago.

adonis · Posted: Mon Sep 13, 2010 2:15 am Post subject:

Welcome melissalynbach,

If the mortgage company forecloses the property, then both of you will have to leave it. If your name is on the mortgage, then it will have a negative impact on your credit report and the lender can come after both of you to recover the deficient amount.

Welcome Mae,

This is really a tough situation. As your parents had maintained the property and have also paid taxes, they can claim adverse possession on that portion of the property. However, I would suggest both of you to contact an attorney and take his opinion in this matter

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Adverse Possession - State of Florida