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adonis
Joined: 22 Oct 2005
Posts: 10267
Location: ALASKA
1046.07 Dollars($)
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Hi blodie,
While you went through the previous foreclosure, the lender must have either forgiven the dues or it has been charged off to a collection agency. In that case, the lender will not be able to place a lien on your new property for it. However, as there's a foreclosure mentioned on your property deed, you should check out whether or not you would be able to include your name in the mortgage.
Hi Guest,
As far as I know, though the property is in a trust, the lender will be able to foreclose it. Though the lender forecloses the property, he will not come after your personal assets. However, you should try to avoid foreclosure. You may apply for a deed in lieu of foreclosure and get rid of the property.
Hi Jen,
You'll have to get the property transferred in your name first with the help of a quit claim deed. Then you can pay off the delinquent amount and bring the mortgage current. Once the mortgage payments are current, you can then refinance the loan in your name.
_________________
Procrastination is the enemy of your financial success |
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stefanie
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Post subject: act 91 notice |
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| Hi there, we received the act 91 notice, met with the counsellor. while we are waitingto see whether they approve us or not we continue to gethounded by creditors...while i am in this 'waiting' stage, do i have to worry about paying them? thank u!!! |
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jameshogg
Joined: 20 Dec 2005
Posts: 10176
Location: Nevada
945.64 Dollars($)
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Hi stefanie,
I would suggest you to inform your creditors that you've applied for the HEMAP assistance. Once you get the assistance you can pay them off.
Hi tyson,
Your query has been answered in the given page:
http://www.mortgagefit.com/quitclaim/cost-llc.html
Take a look at it. Hope it helps you.
Thanks |
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Chiffon
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Post subject: Add a name using the QuitClaim deed |
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| How do I use the QuitClaim deed toadd my daughter's name to the property? Which section of the form must I must? The form leads me to believe that I can do transfers only. |
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banker0679
Community Expert
Joined: 15 Nov 2007
Posts: 452
Location: Charlotte, North Carolina
19.27 Dollars($)
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curious
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Post subject: Quitclaim Deed |
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| My brother quit claimed his home to my niece befoe he died. She did not sign the quit claim deed and does not want the property. Is she still responsbile for property taxes? Note: there is a mortgage on the property, but my niece is not on the mortgage. |
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banker0679
Community Expert
Joined: 15 Nov 2007
Posts: 452
Location: Charlotte, North Carolina
19.27 Dollars($)
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You will need to speak to an attorney and/or title company.
If she's not on the deed or mortgage then she's not responsible.
Of course if the mortgage or taxes aren't paid, then the home will be foreclosed
_________________
there's always hope!
"My credit score shot up 68 points!" |
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laststraw
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Post subject: HAMP |
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| I went through a trial period with a much lower monthly payment under the HAMP but after almost 9 months it came back my monthly payment would be slightly more than it was before I entered into the program since all the difference during the trial period was added onto my loan amount. I was very upset and acknowledged this over the phone. They sent only a "part" of the agreement and when I called back said they closed my case b/c it didn't sound like I wanted it! My home has lost so much value I can't think about selling it and cannot afford the modification anyhow. Are the mortgage companies playing games to force people into foreclosure? Would they prefer a foreclosure over a modification? |
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Steven Lee
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Post subject: Quitclaim before Foreclousers sale |
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I have found a house that is in foreclosure and due to be sold in March, can I have to owner do a Quitclaim Deed over to me then make up the past due payments and other monies that might be owed before the sale, then just take over payments and later refinance the house? I live in AZ and does that pose any other issues?
Thanks |
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banker0679
Community Expert
Joined: 15 Nov 2007
Posts: 452
Location: Charlotte, North Carolina
19.27 Dollars($)
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Last straw - hard to say. Were you dealing with a mod company or bank? Banks are losing money when your home forecloses than it takes them months to put it on the market..and probably 1 year or more to sell it
_________________
there's always hope!
"My credit score shot up 68 points!" |
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banker0679
Community Expert
Joined: 15 Nov 2007
Posts: 452
Location: Charlotte, North Carolina
19.27 Dollars($)
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Steven - i wouldn't see why you couldn't do that. Except most notes have an accelerate clause which makes the new deed holder pay all the note UPFRONT! A lot of banks won't use this but you never know
Make sure to speak with a real estate attorney
_________________
there's always hope!
"My credit score shot up 68 points!" |
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squirrel
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Post subject: forcloser 7 years ago |
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Hello Jessica,
I had a forcloser over 7 years ago / and NO I HAVE NEVER had a credit card or a loan sense. I am concerned that the forcloser and all the (for lack of a better word) crap / hasn't as of yet dropped from my credit reports ... Do they simply drop after 7 years? or do I have to GET THEM taken off? |
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banker0679
Community Expert
Joined: 15 Nov 2007
Posts: 452
Location: Charlotte, North Carolina
19.27 Dollars($)
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they drop off 7 years after the discharge date. you can hire someone to try to clean up your credit report but you can also do this yourself.
Either way...in the declarations in the 1003 you have to answer truthfully which asks you if you EVER had a foreclosure
_________________
there's always hope!
"My credit score shot up 68 points!" |
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bee bee
Guest
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Post subject: quit claim deed in ct |
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| isnt it a law that one has to sign his or her signature to be put on a quit claim deed in CT? |
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smithsussane
Joined: 18 Sep 2008
Posts: 10045
Location: Alaska
921.83 Dollars($)
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Hi bee!
Welcome to forums!
It is the grantor's signature which is required in the quit claim deed. Most states do not require the grantee to sign the deed. You can contact a California based attorney and take his suggestions in this matter.
Feel free to ask if you've further queries.
Sussane |
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