Welcome to Help Avoid Foreclosure

Help Avoid Foreclosure Questions and Answers

Open Question: If my landlord is no where to be found can I claim the house?

I have been living in a two family home for 4 years now and shortly after I moved in my landlord ended up missing due to home being under foreclosure. I heard that after living in a place for 10 years without the landlord you can claim the home as yours. I would like to know how true this is. Also being that we have neighbors who also have been living rent free since the landlord left, how would we go about getting ownership before they do! Unfortunately we do not see eye to eye with our neighbors and would like to avoid them at all cost! more

Voting Question: can someone help me, my boss didn't pay me for a week that I worked what can I do?

I already posted this but I can't find it anywhere I think I did it wrong so I am reposting it, hopefully I get this right this time:). I started a job early June of 2009 delivering papers for people going through foreclosures. After a week of working on Friday 6/5 they told me to come in on Monday to pick up another route but the route wasn't ready when I came in to the office. I live 1 hour and a half away from the office and I found that very unprofessional and unorganized. So, on Tuesday they called me telling me that a new route was ready for me to pick up but I told them if they can have my check ready so I don't have to drive down there 2 more times that week. They said yes to call them back in a few hours and it will be ready. I called Tuesday through next week Monday and still no check. They had a new excuse everyday. I am glad I took their unorganized ways of doing business as a sign and asked for my check because I may have worked another week for free. Does anybody have any ideas of what I can do? I am trying to avoid having to take this to a civil court. Hopefully someone can help thanks in advance. more

Resolved Question: government assistance for sellers closing costs.?

I am a home owner who recently lost his job and had a lot of other financial hardships come my way. I am behind on my mortgage payments and am one payment away from going into foreclosure!! waah.. anyways.. Put the home up for sale and found a buyer in 30 days! The problem is after all the closing costs, real estate fees..and missed payements I will not have enough to satisfy everyone. Is there any government assisatance of any kind to help me avoid a potentially catastrophic situation? Let me know your thoughts! more

Resolved Question: Strange letter in the mail - does anyone know what this is?

I received a letter today and want to know if it is legit or if it is a scam. It says, "Due to extreme economic conditions currently affecting the mortgage and real estate markets, a thorough review of all mortgage related insurance programs has become critical to ensure that you obtain and are continually maintaining sufficient insurance coverage levels needed to avoid any and ALL potential foreclosure scenarios. We ask that you complete and return this card in the envelope provided so that an evaluation can be performed promptly. Your response must be received within 10 days from the date of this notice" It has my mortgage balance on it, an nla number (whatever that is) and a bunch of bar codes. It asks for date of birth, sex, smoking or non, phone numbers & first name. Does anyone know what this is all about? Oh, and the return envelope has the following address: M.S.I. Processing Unit PO Box 11329 San Bernardino, CA 92423-9914No I'm not in default or anything like that. Everything is good. Thanks for the info, I am convinced this is a scam now & am going to shred it. more

Resolved Question: HELP with foreclosure proceedings - should i close my savings account?

we have a HUGE monthly mortgage and haven't paid our bills in like 6 months- so they start our hardship paperwork (to avoid foreclosure and possibly qualify as we have a Fannie Mae loan) as i lost my job. The problem is that my wife has a seperate savings account with about 7k in it that she was saving to open a business with her mother. We have to report all our financial information to qualify for the hardship, including this account. Any advice? Should we just make a big withdraw, but then they'll see that? Any help would be appreciated. Thanks! more

Voting Question: There is a new law that mortgage lenders have to show attempts at helping customers avoid foreclosure. GMAC?

said we do not qualify for the Obama's MHA program. They said our income needs to increase and/or the debts need to decrease. This, even though, payments have always been on time and in full. Is there an appeal process after being denied a loan modification? more

Resolved Question: I am interested in buying a foreclosure property in southern California?

I want to purchase a foreclosure property in California to live in. What should I do first, how do I begin the process? Do I contact banks, real estate agents or what? What are the common mistakes people make in dealing with foreclosure properties and what do I avoid? I am obviously a beginner at this and don't even know how to start the process, any help would be wonderful! I'm a Canadian citizen and I live in Canada, if that's necessary. more

Resolved Question: Why do people Blame Bush on the Economy when...?

The Community Reinvestment Act (CRA) started this entire mess. If you did not know already, the fall of our banks, housing markets, and the oil crisis in the summer of 2008 lead us to our demise. The Community Reinvestment Act started it all. This Act was passed in 1977 by Congress to address the so-called discrimination by banks, which would not lend money to most minorities. The act provided that banks have “an affirmative obligation to meet the community’s needs.” The banks were not giving the loans out to minorities because most of them just didn’t have the money to pay them back-but the liberal congress under President Carter thought differently. But this Act was not enough to force the banks to give loans out to everyone. So in 1989, Congress amended the Home Mortgage Disclosure Act which required banks to collect racial data on mortgage applications. This data all came together in great use when in 1995 the Clinton Administration’s Treasury Department issued regulations tracking loans by neighborhoods, income groups, and races to rate the performance of banks. The ratings were used by regulators to determine whether the government would approve bank mergers, acquisitions, and new branches. The regulations also encouraged liberal-aligned groups, such as the Association of Community Organizations for Reform Now (ACORN) and the Neighborhood Assistance Corporation of America (NACA), to file petitions with regulators, or threaten to, to slow down or even prevent banks from doing their business by challenging the extent to which banks were issuing these loans. With such great leverage over the banks, many of the liberal groups were able to legally extort banks and make huge pools of money available to them. Then with such power over the banks, the government and groups were able to force the banks to give out loans to individuals who had bad credit or insufficient income. These loans are known as “sub-prime” loans. Most estimates put the figure of CRA-eligible loans at $4.5 trillion dollars lost to the banks… In 1992 the Department of Housing and Urban Development pressured two government chartered corporations, known as Fanny Mae and Freddie Mac, to buy large bundles of those sub-prime loans for the conflicting purposes of diversifying the risk and making even more money available to banks to make further risky, sub-prime loans. Congress also passed the Federal Housing Enterprises Financial Safety and Soundness Act, which mandated that those companies buy 45% of all loans from people of low or moderate income… In 1995 the Treasury Department under the Clinton Administration established the Community Development Financial Institutions Fund, which provided banks with taxpayer money to allow the banks to give out more risky, sub-prime loans. All of these actions turned the sub-prime mortgage market into a huge ticking time bomb that would magnify the housing bust by orders of magnitude… These policies lead to the housing boom which was seen in the 1990’s and early 2000’s. But it all eventually back fired when loans weren’t being paid back. The banks ended up losing more money than they were making - that lead to the collapse of our banks. This also led to the housing market’s demise or BIG bust… How did this affect the housing market? Well there were no more loans being given out, since the banks finally began to collapse. With no money being given out and thousands of houses going into foreclosure it is easy to see how the housing market went to hell… As you can see, the liberals caused us the major reason for our demise. All because they believed people had the right to houses. All because they believed high spending and expansion of government would help the poor… It didn't... But that was not the only reason for our fall. The high spending from congress led to higher debt and almost no money, which forced us to borrow from China… This debt left us with almost no money and that is why taxes were raised on most middle class families. This spending came from republicans and democrats who believed more government programs would reduce poverty or fix any other problems. It mainly came from the war over seas. Then came the gas crisis in the summer of 2008. This crisis happened due to the supply of oil being lower than the demand. It was also due to the speculation at home and the raising of prices by the Saudi Arabians. This all could’ve been avoided if President Clinton allowed the oil companies to drill in Alaska. In the 1990’s the companies went to congress for approval, but they were shot down… Many liberals say we have almost no oil here, but the REAL experts from the oil companies say we have more oil than the Middle East. Who would you trust? Oil company experts or politicians? My point is thI'd like to see people actually read this answer instead of acting like ignorant idiots. more

Voting Question: Do any one know how my friend could get help to avoid foreclosure on a FHA loan.?

There were rumors about an Obama Home Plan that could help out homeowners who are having financial problems. more

Resolved Question: How long do I have to reinvest capital gains from the sale of my primary residence?

OK, if that sounds easy, let's see how many variables I can throw in. I bought a Fannie Mae foreclosure house last September and undertook a host of extensive renovations myself. I couldn't finance the house and renovations through a mortgage, so my parents co-signed a line of credit that needs to be rolled into a mortgage before this September. After spending seven months subletting an apartment during construction, I moved in to my house. I attached utility bills and building permits to my '08 tax return to document that, for purposes of the first-time homebuyer credit, my project should be considered a site-built house with the applicable date for the credit being the day I moved in--I got the $8K grant as if I'd made a 2009 purchase (have to repay if it's not my permanent residence for three years). I'll be deploying to Iraq later this summer and am rushing to convert my loan into a mortgage before I leave town for pre-deployment training. But the refinance is going to cost me over $7000!!! I'm not happy about repaying all the fees I paid during my cash sale closing last year and am considering selling vice the refi. I plan to put the house on the market at a price to net me $15K after sales fees and construction expenses; for various reasons I'll refinance if I can't clear that amount. It is my understanding that if I sell, I would owe the IRS $8000 and roughly 25% of any capital gains (under my reading I don't qualify for home sales capital gains exemptions). However, I would put any money I save overseas and proceeds from this house into another fix-up foreclosure home when I return next summer. a) how can I minimize my tax liability and maximize my funds towards a new residence? b) if I can avoid cap gains tax and the credit pay-back by reinvesting in a new primary residence, how long do I have to reinvest? Will I be able to convince the feds that time spent for military service in a combat zone should be tacked on to that clock? c) I did most of the work, from demo'ing a pool in the backyard, replacing wood paneling with sheetrock, installing hardwood floors, relocating kitchen, etc. with my labor and the help of great friends. If I had bids for some of the projects I undertook, can I expense my labor to reduce capital gains? The profits aren't coming through speculation (not that I philosophically object to that), but through nine months of my blood and sweat. It doesn't seem right that I could deduct paying someone to texture my walls but get hit if I buy the sprayer and do it myself. d) should I be doing anything during the sale or refi to make something else in the process easier? Thanks for reading my novel, and I really appreciate any tips!Thanks for the advice. I'm asking here for ideas, previous experiences and hopefully some sources (I've checked IRS pubs but they, of course, don't expand on all the variables here). I'll be verifying whatever counsel I receive but can imagine some valuable feedback from this community. more

Resolved Question: If an attorney lies, claiming to your bank that they are foreclosing on you & they're not, what crime is that?

In this situation, the attorney was hired by a Homeowner's Association (HOA) to collect on a debt for property upgrades the homeowner clearly did not need (and has proof). The evil one is the HOA President -- a Realtor -- who sold the homeowner their property and collected a commission, and who now hopes to put them into foreclosure and secure a commission on that sale too. This question does not ask what wrong the Realtor is doing though. It asks what the Realtor's attorney (acting under powers from the HOA) is doing wrong when they write a letter to the homeowner's mortgage bank to notify them that the attorney is foreclosing on the property -- and the attorney is ONLY BLUFFING. This strikes me as Deceptive Trade Practices or possibly Fraud or Malpractice. As Officers of the Court, Attorneys are held to a higher standard of ethical behavior than the average layman or non-attorney. There would be action possible to bring the attorney before a review board of the State Bar for blatantly LYING in the conduct of their business. And the State Bar could impose sanctions such as fines, reprimand, censure, or in extreme cases, taking away the attorney's license although this infraction would probably not qualify for a penalty that stiff. And these would be ethical issues before the State Bar. But what, if anything, on a CRIMINAL level would the attorney be guilty of? Threatening to have someone thrown out of their home is one of the most harrowing experiences one can go through, so there should definitely be cause to sue for something like harassment and/or mental anguish, particularly when the attorney was bluffing and the entire debt was based on fraud by the Realtor to effect property upgrades that would help her sell more properties in the HOA on a quicker basis in a down market. The Realtor is in desperate need of money and is late in paying her own mortgage so she is engaging in desperate real estate practices to exploit others with her realtor's license. The attorney sent this foreclosure notice to the bank almost 1 month ago but has yet to file a lien on the property (County records are being monitored daily and new liens are reported within 24 hours). And versus sending a notice directly to the homeowner, the attorney only copied the homeowner on the letter the attorney sent to the bank. Therefore, the attorney may never have even sent the letter to the bank so as to avoid accountability while scaring the homeowner, contributing further to their deception and manipulation. But might there be some other foreclosure procedure that the attorney is pursuing BEYOND the filing of a lien on the homeowner's property which the homeowner cannot see at this time? Could the attorney argue that they ARE foreclosing on the homeowner, even without filing a lien on the property as of yet? more

Resolved Question: Anyone who has real estate knowledge or worked reception for a realty office...HELP!!?

I am interviewing for a receptionist position at a Real Estate office. I REALLY REALLY want the job! I am in the last 4 candidates out of over 30...so I am really close. I have a second interview tomorrow and I want to show that I am ready for the job and can handle the tasks involved. They gave me a list of the jobs the position includes, but since I have never worked in a realty office, I am not exactly sure what all of them are. If anyone can clarify some of these for me, perhaps some of you have had this position or one similar to it, that would be AWESOME! Also, if you have any extra advice or tips, I would certainly appreciate it. 10 points to best answer! * Weekly Foreclosure Letters *Check Sheriff Sales *Prepare Short Sale packages *Vacant Home Letter *Maintain Boards, Packets, Spreadsheets I don't know if it matters, but this office specializes in avoiding foreclosure, and making "short sales"... more

Resolved Question: Underwater mortgage what do you do with a situation like this?

I have a mortgage that is 82,000, with the 6 foreclosures on my street my home is now worth 39,500-- What in the world does someone do in this situation. The home I purchased WAS in a great area, 1 yr after purchase the town built 2 section 8 apt complexes, closed down the school district to the south and sent them all to this district. In other words I bought the house in 1999 and in 10 yrs the city went to the dogs. Now what are my options- I dont want to rent the house (that is a sheer headache), I had a loan modification (to avoid foreclosure)done last yr @ 4% interest but that resets to 8.5% next June and I do not want to pay that. What the heck is to be done here any one have an idea-- I know I am not the only one in this boat. Thank you for your help. more

Resolved Question: Forecluse Sale date is in 2 months, can you still file petition for Chapter 7 bankruptcy?

If the foreclosure sale date is in 2 months, do you still have time to file bankruptcy?.. I know it should be avoided at all costs, and blah blah .. but if there nothing else to do, and that's the only option.. can you? How much does it cost? I'll give u some background info... -14 months owed. (about $ 20,000) Yes she delayed trying to put together the money.. BIG MISTAKE.. but moving on... -Nothing Saved. -Credit is bad -Working, earning well... able to pay the house if start from scratch. *She had breast cancer and had to stop working for a long period of time. Anything you say will be appreciated. Thank you for your help guys... more

Resolved Question: Does lender have to pay my moving expenses?

I have month to month tenancy in a condo that I have been renting for more than 18 months in Chicago, IL. The condo is going into foreclosure and the landlord has informed me that I need to move. She gave the notice on March 31, and told me I had 30 days to move, but she also added that she would not put me out on the street. It's now June, and I still have not found a place to stay yet. She wants to "deed" the unit back to the bank to avoid another foreclosure on her record and the unit must be vacant before she can turn it over to the bank. I asked about the bank renting to me, and landlord said it's not possible as the bank does not have a management company and is not able to handle renters. She told me today that the auction date is in July and I will have to be gone by then. My question: If I am unable to secure another residence, and cannot be out by her deadline, and the unit goes to auction, is her lender obligated to pay my moving expenses? I have been looking feverishly, but cannot find anything reasonable that will fit my family size (spouse and 4 kids) in a decent neighborhood AND the security deposits they are asking for are ridiculous. What's the answer? more

Resolved Question: What are some agencies or programs that can help with avoiding or stopping a home foreclosure?

I am not sure where to start on trying to get a loan modification so my home does not go into foreclosure. Are there any free programs or agencies that can help me get started? more

Resolved Question: what do I do to avoid foreclosure?

Should I talk to a lawyer? or talk to my mortgage bank first? more

Resolved Question: What adivice or tips can anyone who recently experience Bankruptsy give to me for filling bankrupsty?

I have 2 homes that I am losing to foreclosure and need to declare Bankruptcy any advice and tips would be greatly appreciated to avoid problems. Thank you very much. more

Resolved Question: HAS ANYBODY ACTUALLY BENEFITED FROM OBAMAS POLICIES MADE TO HELP HOME OWNERS AVOID FORCLOSURE?

MY HOUSE IS IN FORECLOSURE AND TO DATE THE ONLY THING OFFERED BY MY MORTGAGE COMPENY (HSBC) IS A MORTGAGE MODIFICATION AND AS FAR AS I CAN SEE, IT'S ONLY A TEMPORARY REDUCTION WITH LEGAL FEES AND INTEREST THAT ONLY DELAY THE INEVITABLE WITH OUT RECOGNIZING THE FACT THAT THE HOUSING COSTS HAVE DECLINED SO MUCH THAT MY $150.000 IS ONLY NOW WORTH $70.000. more

Resolved Question: Foreclosed but 2nd Mortgage Still Billing and Destroying My Credit?

A foreclosure in the State of: CA I purchased my home in 2005 for $405,000, but a year later transferred for employment purposes. After trying everything from working with a realtor, short sale companies, deed in lieu, loan modification, etc., we could no longer afford the mortgage payments in a house we no longer lived in. We had a 80/20 that eventually ended up in the hands of Countrywide and SLS. In Feb. 2008, our home foreclosed and from what I understand, it was purchased by Countrywide for $270,000. My questions are: 1. Since they purchased it at a loss, my guess is they didn't share anything with SLS right? Is there a way to find this out? 2. SLS is still billing us over a year later. Can they do this since we no longer own the house? 3. My credit score gets lower each month that they report me delinquent. I had a FICO of 777 when I purchased the house, and last I checked, it is in the mid 500s now. (and keeps getting lower). Is there anything I can do to get them to "write me off?" I don't have much income, but could they garnish wages? 4. Is bankruptcy my only option? All of my other debts are paid off, (aside from 100K in my husband's student loans). So I'd like to avoid bankruptcy, and start rebuilding my credit. But it seems like each step I take, the delinquent 2nd drives me 3 steps back. more

Resolved Question: In the Foreclosure Process?

state : Florida Loan 80/20 Primary residence :: 4 months behind I am in the foreclosure process now. I haven't made a payment in 4 months and I am upsidedown on my mortgage ($100000). I have spoke with a lawyer and he said that I should file chapter 7 bk to avoid a def. Judgement or tax implications. I would like to do that as a last resort because I am a photographer and I have a lot of assets. My question is, is there any other options here in the sunshine state? I was thinking about the 1099-c. If I got them from both loans could and would I qualify for the morgage relief forgivness act? I have looked at the IRS and I'm not sure if both my loans would qualify? (mainly the heloc 20%) it is my primary residence and I bought the house with the same two loans and I didn't refinace? Also is there anway to make sure I get a 1099 on both if this is a way out (to avoid bk?) and what type of lawyer would you suggest I contact? Thanks so much! more

Resolved Question: Does it seem like Sex Ed. in School simply isn't working based on the questions here?

Looking at the questions in this pregnancy forum - it seems like the millions of dollars pumped into the system to educate women on birth control and the fact that you are pregnant IF you miss your period and there is a thing called a test. That covers most of these questions. Maybe we should put our funds toward financial education to avoid another foreclosure disaster instead... more

Resolved Question: If I was never given the "amount due" to avoid foreclosure, can the sale be stopped or at least reviewed?

Between Countrywide and Bank of America's exchanging loans, and whatever they did, my hardship letter that i was instructed to write, was never answered, and yes, I got more and more behind, sent them a reg payment that I knew would be applied to oldest date, but month later, they said BLAH...blah, can't accept at this time because it is not the total amount due. I get welcome letter fro Bank of AMER., and see the warm, homey commercials now, and my date of sale has been set,...I don't want to be ugly, thats for sure, but why in the world wouldn't they want what hadto have been 1/3 (?) of the money back then, and 5 months 3 months later, tell me I am in foreclosure...And this letter was not from Countrywide or Bank of America, Recon Trust, I think...who do I need to call? Websites won't let me in...I have phone numbers, but not sure who is handling what, or who would be willing to help, or who is gonna be ugly to me. I KNOW, i owe the money,..but I just need to spend time I've got left, doing the right thing with the right folks. Date of sale is 2 weeks from today. Help, me...please with knowledgeable answers, I am single Mom after 17 years of marriage, 2 kids, basically living on SS benefits, and caregiver benefits.....the same income I had when I let them talk me into using my equity, 40,000...when al I need to borrow was 5,000. Payments only went up 20.00 bucks, but I was solicited thru mail for the loan, and talked into it by Countrywide. Help.ideas? more

Resolved Question: Does employer check my credit report and background annually? (foreclosure / bankruptcy)?

I am living in California and will have to do foreclosure or file a banktruptcy sometime soon. Does this affect my career as a government employee? If the employer check my credit / background on a regular basis, they would find all my financial issues I couldn't avoid. I am really concerning if there will be any demotion or I can be laid off due to this personal financial issue, i.e., bankruptcy. I am a government employee (not in the finance department)....I am really worrying about my career now. Do they really check credits / public records annually? Any information would be highly appreciated. Sleepless nights... more

Resolved Question: How to avoid foreclosure?

this morning i was cleaning up my house and found a letter to my mom stating that she owes over $9,000 and if it is not paid we will be facing foreclosure. I also know that my mom's bank account holds under $9,000 as she had me get money out of the ATM the other day. I need help or a job for people under 16 more

Resolved Question: What should i do about my House?(avoiding foreclosure)?

My wife lost her job 1yr ago and they were starting foreclosure process on our house. She Got another job shortly after. Everything was fine until 3 weeks ago. She got real sick and she was out and then they fired her 4 days ago. They did not pay her anything. Mortgage payment was due today. We don't live there anymore and are staying with friends in another state. Is their anyway we can avoid foreclosure at all? Or will foreclosure be a good thing? I have no idea what to do. Until she gets better and finds a job, my teacher salary cant cover the payment. We have 3 kids and have had our house on the market for for 1 and 1/2 years....in Atlanta area. My credit is already shot...how will this affect it? more

Resolved Question: what would you do if in this situation....?

myself and my brother purchased a home (duplex) together about 3 years ago (we both reside in it).. in the mean time he has married, him and his wife make about 5 times what i do (i am a single mom).. we are very much upside down in the loan but not behind at all in payments (we live in florida)(neighborhood is also not the most desirable)... i want to try and get out from the house either by renting it, short sale or deed in lieu avoiding foreclosure at all costs... all him and his wife do is complain about the home yet they dont want to try and get out of it.. i have even offered him my half (quick claim deed) to just let me go on my way (so he can have it to do whatever he like, rent or what not)... re-finance is not an offer i have checked and we dont qualify.. also.. my brother in my opinion is very mentally unstable.. all he does is preach how the government is corrupt and luciferianism ??? he's storing food and saying the world is coming to an end.. him and his wife live in this "doom and gloom" state... what would you do if in this situation.. i feel stuck.. (i obviously should of never went in on an partnership like this with my brother)the only reason i mention his mental issues.. is cause its miserable for me to have to live next door to such a loon.. seriously he's on the verge of being commited to a mental ward.. more

Resolved Question: My uncle just did a quick claim deed to avoid foreclosure, and i am the grantee. what are my risk in this.?

Please list the problems that i could face by agreeing to this.but I only took ownership of 25% of the property, when the lender foreclose on the house will the foreclosure be on my credit now. I understand that the lender will still foreclose on the property I just want to know how this will affect my credit now that I own 25% interest in the property now..Thank you more

Voting Question: How can I avoid the sale of my home that's in foreclosure?

My house has a sale date of May 27th. I don;t know what my options are. When I was out of work I missed 4 payments and my house went into foreclosure. I am now working again and have asked for a modification. It was denied in October but they never sent a letter and when I called they said it was still processing. By the time I discovered that it had been denied, a letter of sale was sent to me. The mortgage company is once again working on a modification. BUT...they won't have an answer until May 15th. That will only give me a couple of days to do 'something' before the sale date. If the modification is denied, I do have the money to make up the past payments. Is this even an option now? Should I hire an attorney? What can I do? I'm very scared. Thanks... more

Resolved Question: Any suggestions? My landlord's house is in foreclosure and up for auction next month.?

Hi I need some help. I was served papers for my landlord who lives upstairs, for a foreclosure back in Dec. we talked to her about it, and she said that she is working it all out, and not to worry. I came home on Wednesday the 22nd of Apr. and there was a huge Sheriffs Auctions Sale notice posted to the front door. I again went up and talked to her because I don't want to be locked out of my apartment or lose my belongings because of her mishap. She again told me don't worry about it that the mortgage company she is working with tells her that everything is ok don't worry about the notice. I looked it up on the internet and it is posted for Auction. I walked away feeling like she was lying to me because in her next breath she said her husband would be home on Friday the 24th and not to say anything to him about it. (hes been in boot camp since Jan.) We spoke to her on Sunday and told her that we were looking for a new apartment and she was like..."well, if that's how you feel about it" and has been ignoring us ever since. We have found a new apartment and are planning on moving in May 15th. We ran into her husband and he asked what were we doing spring cleaning, and we told him no that we are moving and planning on doing it the 15th of May. Needless to say she never said anything to him about us moving out. Here is my issue she has a $400 deposit of mine, I don't want to pay my rent for May since my (month to month) lease is up on the 5th and we are moving on the 15th. I feel because she hasn't been honest with us she is forcing us to take on this financial burden of having to come up with more money for a new deposit and 1st months rent...Which we really don't have. My plan is to let her keep the deposit of $400 and that will be the rent for the 10 days we will be there. So since she is avoiding us like the plague, and we don't see her I have to write a letter to her. I am not concerned about being put on the do not rent list. I just don't want to come home and have locks on the doors and lose my belonging. Please be kind thank you in advance for your suggestions. more

Resolved Question: Can I delay foreclosure?

I just put my house on the market because I can't afford the payments anymore. I just found out it's going into foreclosure in a few weeks. If that happens it stays on my credit for seven years and I have to file bankruptcy which I want to avoid since I'm getting married at the end of the year. Is there anyway I can delay the foreclosing process? (until it sells?) Would it help if I somehow made a payment? What can I do? Anybody want to buy a house? more

Resolved Question: How do you feel knowing Obama is pursuing policies diametrically opposed to the ideas of the founding fathers?

http://en.wikipedia.org/wiki/Classical_liberalism The cause(s) of the shift in liberalism in the United States "between 1877 and 1937...from laissez-faire constitutionalism to New Deal statism, from classical liberalism to democratic social-welfarism" has been a subject of study among scholars. http://news.yahoo.com/s/ap/20090427/ap_on_go_pr_wh/us_obama100_days_economy;_ylt=AqrSKaY5XiGU6Hjyiorn3GqReZd4;_ylu=X3oDMTJycWN0YnQyBGFzc2V0A2FwLzIwMDkwNDI3L3VzX29iYW1hMTAwX2RheXNfZWNvbm9teQRjcG9zAzYEcG9zAzYEc2VjA3luX3RvcF9zdG9yaWVzBHNsawNvYmFtYXNsZWdhY3k- In a way, Obama is reversing the famous dictum of President Ronald Reagan, who said government is the problem, not the solution. Confronting the worst economic crisis in more than a half-century, Obama is dramatically increasing the government's role in overseeing banks, helping homeowners avoid foreclosure and even determining who runs General Motors Corp. or merges with Chrysler LLP. Pouring billions of dollars into the efforts, he is stoking a huge federal deficit that could haunt him, and the nation, if it does not recede sharply in the next few years. "Obama is Reagan with a minus sign," said William Galston, a Brookings Institution scholar and former Clinton administration official. Just as Reagan tried to undo President Lyndon B. Johnson's government-financed Great Society, Galston said, so Obama "is trying to undo Reagan and Reaganism." Obama's domestic agenda would be huge even if he focused only on reviving the moribund economy and addressing the recession's causes, including loosely regulated lending and a collapsed housing market. But he has gone much further, calculating that a crisis creates the best environment for ramming big changes through Congress.cabeza............But Obama does support illegal wiretapping (and you not being able to sue the govt. over the program). Also, FK Bush, he was a fascist much the same way Obama is. I didn't vote for him either time he ran.bruno...."Didn't YOUR party come up with a document cancelling the whole Constitution with the Patriot Act?" Stop assuming everyone is either a democrat or a republican---they're not. Some of us have woken from the dream.zaphod............I didn't claim Reagan was a founding father.chaos........."Sounds like you're using Yahoo Answers as your little political platform...." How so?? I asked what others thought of Obama's new ideas for America.RT.........."Our Harvard educated President is globally respected. So calm your white *** down and kick rocks while the African son cleans up the wreckage of conservative leadership." If you only knew how pathetic you sound. "African son".........lol You have no fking clue. Obama works for the same white bankers that Bush did, and Clinton did, and Reagan did, and Carter did.... more

Resolved Question: Will we see another round of foreclosures this summer?

It foreclosures are avoided through policies put in place by the current administration will we see residential real estate prices increase? more

Resolved Question: What is the name of the program that President Obama put in place to help people keep their homes?

Does anyone know the name of the program or the website to the program that President Obama put in place to help people keep their homes and avoid Foreclosure??? more

Resolved Question: Previously prefect credit and a short sale question?

My fiance has perfect top notch credit. Two years ago he bought a condo (already in foreclosure) for 284,000 . If he sells it with a shortsale how horrible will his credit score go down? Will it effect him real bad even though he already has a top of the line credit score or should he forget about ever having good credit again? We live in Southern California by the beach, when do you think the prices will start going up again so we can avoid a shortsale?? Thank!!!! I sure wish I had a crystal ball :( what credit score do you need to even buy a house now a days? more

Resolved Question: Can you add your home to a bankruptcy?

I signed a quick-claim deed to my house and gave it to my ex. He was to file the deed and take my name off the house during our divorce. I thought that would be the end. However, to my surprise I found out that my ex never filed the deed and now he is leaving the house open to foreclosure. To make things worse, I've found that by signing the quick claim deed I only gave my ex physical possession of the house but I'm still on the mortgage. The mortgage lender will not honor my divorce decree and is holding me responsible for the arrears of the mortgage and repayment. There is no way for me to pay the mortgage on my own. The result is I have no physical rights to the property but am still financially responsible for it. I don't know how to get out from under it. I am considering bankruptcy to avoid being foreclosed on and having my credit ruined for much longer. Is it possible to file bankruptcy and include a house that I'm financially responsible for but have not rights too??? more

Resolved Question: Will "Home Affordable" plan help me avoid foreclosure in a divorce?

My husband and I are divorcing. I am staying in the house, however, my husband will not contribute to the house payment. I cannot afford the payment on my income alone. We owe much more than the house is worth. Will the new "Home Affordable" program work for me, since I can afford 31% of my gross income? Or, will it be figured on 31% of BOTH of our incomes, since both names are on the loan? more

Resolved Question: Tax Pro Opinion - Foreclosure/2nd Mortgage Issue?

I can't find anything about this situation. My house has a 1st and 2nd mortgage (Home Equity Loan). The Home Equity loan was used for repairs & updates on the house so I've been claiming it all along on my taxes (the interest payments). The house is going into foreclosure. The main mortgage is FHA insured, but the 2nd mortgage is not. I make just a little too much to be eligible for Chapter 7 Bankruptcy, which is the only way to totally discharge debt. I could do Chapter 13 (or maybe it is 11), but that is just restructuring and paying back what is owed. The 2nd Mortgage bank is willing to work with me on lower payments and longer payback time and they know the house is foreclosing - which would at least avoid lawyers fees for them & me. I'm just wondering if anyone thinks there is any chance at all that those payments could remain tax deductible (the interest portion) after the house has foreclosed and I am no longer the owner of it. The loan WAS for my home and the funds WERE used in accordance to the rules which have made it eligible for tax deductibility. What are your thoughts? Am I dreamin'? more

Resolved Question: "Short Sale" or Foreclsoure?

've been trying to work with my mortgage company for months now while getting no where, it's always “call back in two weeks”, etc. I had hoped the new March 4th programs would help but I have been calling weekly and my bank still says they haven't received the info yet with all the details on the program so call back in two weeks. In the meantime I did list my house for sale just in case I need to do a quick short sale to avoid foreclosure. From everything I heard you don't want to foreclose, short sale is a little bit better. However I haven't gotten any offers and have been hesitant to drop the price too low and sell before I found out if any of these new government programs would work to keep me in the house (yes, I still have that pesky whole emotional attachment stuff)... So this morning I have been thinking maybe enough is enough, let's get this over with. I love my house but am getting really tired of waiting to see whats going on, should I drop the price to where I think it would sell or do I sit it out and ride the foreclosure process wave as long as I can? Then about an hour ago I find out the builder in my neighborhood has just reduced new construction pricing down into the $160's, I cringe to think about what I paid 2 years ago ($245K), not that I am concerned about value, I'm happy with the house and it totally serves my need. So...Should I ride the foreclosure wave as long as possible? Or try to sell this baby as fast as possible as a short sale? Thanks more

Voting Question: Can a Father Short-sell a house to his son in NY?

My Dad is on the verge of losing a house he bought a couple of years ago and is trying to avoid foreclosure. He had an agent trying to short-sell it, but the buyer was bidding $10k less than the banks would accept. My brother and I are considering taking it off his hands. My questions is - Are there any laws that would prohibit him from shorting it to us? The house is in Suffolk County, NY. Any RE Agents, Lawyers, or anyone who has a useful link, please reply.As I understand it, if he short sells it, the loans on his credit will show as "settled" or "satisfied" vs. a foreclosure appearing on his record. Was I misinformed? more

Resolved Question: Republicans...what is your proposal to ease the suffering of americans?

specifically regarding high number of foreclosures and unemployment and the number of people who need food stamps in USA currently?.....oh..and what do we do about all these too big to fail companies that as Bush put it " that we need to bail out to avoid a depression" ???thanks one....I got you. Under your plan, the suffering would increase. got it., more

Resolved Question: Home is going through a short sale, who pays for the Realtors?

My home is trying to go for a short sale to avoid foreclosure. I'm going into foreclosure because I don't have any money. If the short sale goes through and there is a winning bid, who ends up paying for the closing cost and the Realtors? more

Resolved Question: Can I sell my house to my mom for half of what I owe on it?

I owe $432,000 on my house. A couple of the houses in my neighborhood sold for half of what was owed on them mainly because owners had lost their jobs and wanted to avoid foreclosure. I'm going through the same but I want to stay in my house. Can my mom buy it from me for half of what I owe on it that way I can still stay in the home and pay her the rent? more

Voting Question: Is any early payoff mortgage loan penalty either for a loan modification or refinancing of plan 03-04-09 ?

Plan 03-04-09 is the Making Home Affordable plan that on March 4 09,President Obama's administration announced details of a comprehensive plan to help responsible homeowners avoid foreclosure by encouraging affordable and sustainable mortgage loans. more

Resolved Question: Buying a foreclosed home at auction In Northern California - advice please?

My husband and I have been following a house that has just had its auction date listed for later this month. It was originally on the market for $479,000.00. We went to look for a laugh and it was WAY over priced. This was later reduced to $419,000 which we discovered was the amount owing. We started working on the owners and the bank with a short sale - the bank valuation came back at $319,000. We offered $300,000 and it was accepted. During this time we had a full inspection done as our families are builders and contractors and realized that the house was a tear-down essentially as it needed new ceilings, roof, foundations, flooring and had wood rot and mould. We retracted our offer and the property moved into foreclosure. I still love the land it is on, and so if we can get for a good price we would like to tear down the house and rebuild. Our family is helping us as this is our first house and we have a line of credit available. 1) Do banks set a minimum bid or does the lowest bid get it. They have not posted an opening bid yet. (we have a figure in mind that is market value for a comparable piece of unimproved land) 2) Can you speak to them beforehand and make an offer so to avoid the auction day? (this is not a property that is likely to have more than one bidder) 3) We have been told we need to pay cash, but when? If it is on the day then how do we know how much to get a check for? Can we put down a deposit on the day and then pay the balance? 4) Does an auctioned house come with free title? That was one thing we couldn't make sure of before bidding. 5) Someone told me that the owners have a certain amount of time after the auction to pay up and get the house back - is this right or is the house mine from the time the money changes hands? Thank you very much for any help you can give us!Mike - In the case where a house is 'upside down' do the banks still do the same thing? more

Resolved Question: Does family history increase your risk of getting cancer?

I am a news reporter and i need to write an interesting and edgy report on cancer to avoid getting fired and making my home go into foreclosure forcing me and my family out on the street. If you have a heart please help!!!!!!!!!!!!! more

Resolved Question: We are ready to move, but can't sell... Should we foreclose?

We bought our Townhome in Rhode Island in 2005 for 184,900 for 100% financing from the bank. The bank that held our loan is no longer in existance as a lender, but they are just collecting on the past loans they hold. Two of the 5 townhomes in our unit have already been foreclosed on. We have been hanging in there, but have huge bills, student loans, etc. We have always paid the mortgage on time and are just getting by with paying the mortgage on the one unemployment check my husband gets, since we have both been out of work since last November. We have been wanting to move back to upstate, NY where we are originally from, to be closer to family. Its very unfortunate for us though, because we can not even sell this property. Our original lender is not willing to do anything for us, and have actually suggested that since we have more debt to income, they wouldn't doubt that we probably should consider Foreclosure.... What's up with that??? I mean the woman I talked to actually told me that I'd probably have 4 months to save up some money before the bank would issue evacuation... like what??? this is crazy... Why are the banks not coming up with different plans and helping people AVOID FORECLOSURE! We have never been individuals to walk out on our problems but this ecomonic situation is getting ridiculous. I feel stressed out everyday, and to hear that the unit on the end just listed for $94,000 makes me sick to my stomach. So....in our situation....should we foreclose? and stop throwing money out the window, pay down our credit cards & increasing student loan deliquincies? and move back to NY and just rent a $600-$800 a month apartment to get back on our feet?We contacted a lawyer, he said their isn't anything that lawyers can do in this case. They can't place blame on any one person or hold specific people accountable. So unfortunately we get papers to rent it, or get paperwork started for foreclosure and bankruptcy. Starting a lawysuit against the Mortgage broker, loan officer etc... would be all bad, being that we got the loan through a friend of my husbands (who by the way doesn't work for as a loan officer anymore... for obvious reasons.... not to mention he was tied in to some pretty shady "mob" types that I wouldn't want to go pissing off. I mean the loan we got from the mortgage generator must have had connections to shady banks, and they are connected and owner by a laywer.... All BAD! more

Resolved Question: What do you guys in the Urban community think of this?

I am a independent Business owner and i am writing a book called Economics in 10. It is a book in which i explore ten different tips on how to stabilize your financial status. These are the 10 topics. 1. Maintaining a good credit score 2. Picking the right insurance company 3. Foreclosure and how to avoid it 4. Retirement Plan 5. Social Security and how to protect it 6. Investments and how not to get scammed 7. How to Start a Buisness(if you want) 8. Building a College Fund for your kids 9. Controlled spending 10. How to get Loans that you can afford to pay back I have a degree in Business and economics so i know this stuff. I use to work as an accountant before i started my own Business. My brother told me that urban neighborhoods are always the hardest hit by tough econmic times, so i plan to sell the book in those areas.Cmongler is a an ass. more

Resolved Question: Can I give my mortgage lender the keys to my house to avoid foreclosure?

I heard a person can surrender the keys to their home and sign the deed over to the mortgage lender to avoid foreclosure. Is this true? I guess this is seen on teh credit report still as a foreclosure, but it saves the lender some cost and you don't go through as much pain and they forgive the debt. is this true??? more

Resolved Question: Can I file bankruptcy to avoid forclosure and end my mortgage?

As a last last result is it possible? I can no longer pay for my mortgage. I have been trying to sell my home and I will next try a deed in lieu , should it fail I will have less options. i want to know all teh options besides foreclosure. And please dont tell me to stay in my home. I need real answers from realtors or people who have been in my shoes. more