A brief overview of how filing bankruptcy can help you get a fresh financial start. The Process Article I, Section 8 of the United States Constitution authorizes Congress to enact "uniform Laws on the subject of Bankruptcies." Under this grant of authority, Congress enacted the Bankruptcy Code in...
This is the first installment of our guide to defeating motions for summary judgment made by foreclosing banks in New York residential foreclosure cases. The purpose of a bank's motion for summary judgment is to obtain a judgment of foreclosure without giving the homeowner the benefit of a trial....
How can I protect myself in a real property purchase? If you are a real property owner, you should protect yourself by purchasing a good liability insurance and title insurance policy insurance. In addition, prior to taking interest or possession of property you should be aware of: (1) any zoning...
I have read about people moving into empty homes and living there for months or longer until discovered – but I came upon it first-hand this past month. I was accompanying a real estate broker (I have a financial interest in this brokerage) for a view of a new listing the broker received. The home...
Owners of Arizona real estate are often surprised to learn that an individual may be able to acquire title to land by utilizing that land openly, adversely and continuously for a statutory period. In fact, your favorite neighbor can, by occupying your land for a period of time, gain legal ownership...
Step One: Prepare Eviction Notice The first step in most eviction cases is the Eviction Notice. This “for cause" notice typically occurs when a tenant fails to pay rent, is too noisy, is selling narcotics, or has does something that violates an important lease cause. In other instances, a “without...
If you’re behind on your house payments in Arizona, stay vigilant. In most cases, the only notice you’ll get about an upcoming foreclosure sale is a notice sent through the mail and posted on your property. Fortunately, under Arizona law, you can bring the loan current until the day before the sale....
A deficiency judgment—a money judgment for the difference between the total amount of the mortgage debt and the foreclosure sale price—is the unfortunate result of a foreclosure in some cases. Fortunately, most California homeowners won't have to pay a deficiency judgment after going through a...
The coronavirus (COVID-19) outbreak has completely upended life in the United States and around the world. With this national emergency limiting many people’s ability to work and earn a paycheck, you might be among the thousands finding it difficult or impossible to keep up with mortgage payments....
When money’s tight, and you've cut down on your other expenses as much as possible, it still might be impossible to keep up with your mortgage payments. Once you fall far enough behind on the loan, your lender (or the subsequent loan owner) will likely foreclose —that is, go through a specific...
Update: On April 2, 2020, Florida Governor Ron DeSantis signed Executive Order 20-94 suspending all foreclosures and evictions in Florida for 45 days because of the coronavirus (COVID-19) pandemic. Also, the federal government has imposed a foreclosure moratorium for federally backed mortgage loans...
If you can’t continue making your mortgage payments because they’re too high or you’re having trouble getting caught up on past-due payments, you might be able to avoid a foreclosure with a: forbearance agreement, usually negotiated before you fall behind repayment plan, negotiated after you’ve...
With the coronavirus (COVID-19) outbreak happening, you might be among the many people finding it difficult or impossible to keep up with your mortgage payments. Fortunately, most people won’t face the prospect of losing their home soon, thanks to foreclosure suspensions across the country. Also,...
If you fall far enough behind on your mortgage payments in Massachusetts, your loan servicer (on behalf of the lender or the subsequent loan owner, called an “investor”) will start a foreclosure , most likely a nonjudicial one. Massachusetts law sets out the specifics of the nonjudicial foreclosure...
To contest a judicial foreclosure , you have to file a written answer to the complaint (the lawsuit). You'll need to present your defenses and explain the reasons why the lender shouldn’t be able to foreclose. By responding to the suit, you’ll definitely get some additional time to live in your...
Update: On March 18, 2020, Governor Laura Kelly signed Executive Order #20-06, which temporarily stops foreclosures in Kansas due to the coronavirus (COVID-19) outbreak. The order prohibits financial institutions from initiating foreclosure efforts or judicial proceedings. It also halts residential...
The coronavirus (COVID-19) outbreak has upended life all across the United States and the world. With this pandemic limiting many people’s ability to work and earn a paycheck, you might be among the thousands finding it difficult or impossible to keep up with your mortgage payments. The good news...
A Pennsylvania foreclosure won’t start as soon as you miss a payment. Instead, the foreclosing bank or subsequent owner of the loan (the "bank") must normally wait for at least 120 days due to a federal law. This law ensures that a borrower will have time to ask for help with a foreclosure...
Reverse mortgages are usually advertised as an ideal way for senior citizens to get extra spending money to supplement their retirement income. But taking out a reverse mortgage isn't necessarily a good idea. Before you get a reverse mortgage, learn how they work and consider the upsides and,...
Homeowners can lose their residential properties through one of two methods of foreclosure : judicial foreclosure (a process that involves the court system) and nonjudicial foreclosure (which allows a lender to sell the property without prior approval from a judge). The foreclosure type that your...
