Home arrow Mortgage Forums arrow Forums: Learn from other's experiences arrow

Deficiency Judgement

Author Message
carlen

Guest







Post Posted: Fri Aug 13, 2010 5:49 pm    Post subject: Re-open a bankruptcy
Like 0
Dislike 0

I heard you can re-open a bankruptcy, and put tour maortgage on it if your going into foreclosure, so they cant come after you Sad
Icon Mini Profile jameshogg
jameshogg




Joined: 20 Dec 2005

Posts: 10477
Location: Nevada
990.06 Dollars($)
Post Posted: Fri Aug 13, 2010 10:26 pm    Post subject:
Like 0
Dislike 0

Hi carlen,

You can reopen your bankruptcy filing in order to include your mortgage in it. As the deficient amount will become an unsecured debt, you may not have to pay it anymore to the lender if you include it in your bankruptcy filing. You need to contact your bankruptcy attorney in order to reopen your bankruptcy filing.

Thanks
Lin Campb

Guest







Post Posted: Sat Oct 30, 2010 7:36 am    Post subject: mortgge difficiency
Like 0
Dislike 0

My husband borrowed money to buy property in Florida. He is the only signer on the note, but I am on the mortgage deed. He died and the bank foreclosed on the property because I could not make the payments. Can they sue me for the mortgage difficiency if I wasn't the original signer on the bank note?
Icon Mini Profile Niicss
Niicss




Joined: 03 Oct 2005

Posts: 4834
Location: New Jersey
508.88 Dollars($)
Post Posted: Mon Nov 01, 2010 2:40 am    Post subject:
Like 0
Dislike 0

As your name is mentioned on the mortgage docs, the lender can sue you for the deficient balance resulting from the property sale.
_________________
Good is the Enemy of Great.
Lin Campb

Guest







Post Posted: Mon Nov 08, 2010 4:45 am    Post subject: deficiency jugements
Like 0
Dislike 0

I don't understand how and why can a bank do this? When we applied for the loan, BOA would not lend me the money, only my husband. I brought more debt than income to be able to fit their debt to income ratios. None of the bank docs have my name on them. They tell me that the account is not in my name. So how can they now want me to pay for something they would not even let me borrow to begin with? When my husband died they wouldn't even talk to me. They wouldn't even answer my attorney's letters. Is this worth pursueing in court? Also, can they arnish my wages and back account her in Illinois and place liens on other properties I own?
Icon Mini Profile jerry
jerry
Moderator



Joined: 17 Oct 2005



Posts: 2708
Location: MICHIGAN
429.63 Dollars($)
Post Posted: Tue Nov 09, 2010 2:45 am    Post subject:
Like 0
Dislike 0

Hi Lin,

You will have check out properly whether or not your name is mentioned on the mortgage docs. If your name is not mentioned on the mortgage docs, then you won't be liable for the payments. If you feel that the lender is doing something fraudulent with you, then you can file a lawsuit against him.

Thanks,

Jerry
Annie

Guest







Post Posted: Tue Nov 09, 2010 6:44 pm    Post subject: judgement for eviction due to non payment of rent
Like 0
Dislike 0

I was evicted for nonpayment of rent on a house. I own no property ( not even a car) I am currently on short term disability due to being diagnosed with stage four kidney disease. I have applied for social security disability but have not been approved for it yet. Is there any kind of hardship exemption I can get to handle this?
Icon Mini Profile jameshogg
jameshogg




Joined: 20 Dec 2005

Posts: 10477
Location: Nevada
990.06 Dollars($)
Post Posted: Wed Nov 10, 2010 2:48 am    Post subject:
Like 0
Dislike 0

Hi Annie,

If you have an attorney who will be able to represent you in the court, then you'll have to speak to him in this regard and he will guide you further in this matter.

Thanks
rich7462

Guest







Post Posted: Thu Feb 17, 2011 12:50 pm    Post subject: Short Sale
Like 0
Dislike 0

In Florda can the bank have me sign a promissary note or 1099 me if the property is home steaded? If so, is there a time fram in which they can come after you?
Icon Mini Profile adonis
adonis




Joined: 22 Oct 2005



Posts: 10562
Location: ALASKA
1089.18 Dollars($)
Post Posted: Thu Feb 17, 2011 11:03 pm    Post subject:
Like 0
Dislike 0

Hi Guest,

The lender may ask you to sign a promissory note. The SOL for written contracts is 5 years in Florida.

_________________
Procrastination is the enemy of your financial success
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
 Previous  1, 2, 3
Page 3 of 3

 
Highlights

Bookmark this page

Helpful References

Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators

     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools

Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Our Community

MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards

Five simple ways to earn money with the Mortgage Community.

MortgageFit on Twitter

Followers (252)











We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 0.104 seconds.