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Everything posted by BillyBob11706

  1. My friend is in tHe process of losing his home in New York. In 2016 the court ruled in favor of the bank. His last payment was in 2009. My friend has never hired a lawyer and never went to any of his court dates. YES HE IS STUPID!! I told him ( I'm no expert) that the next step in the process is that a legal notice will appear in one of the newspapers and it will be auctioned off. He still lives in the home and has a tenant who pays him rent. My friend calls me and asks if it's possible that they can auction off his house via the internet. I told him that I didn't think so. As it turns out his home is being listed on Auction.com. The house is being listed for $35,000 as an opening bid. They are calling this the pre auction bid. The auction starts on Oct. 21 and ends on Oct 24 2017. Here are my questions... 1. Since my friend lost the home and the bank probably owns it don't they have to publish it in the legal notices in the newspaper that it's going to be auctioned off? 2. The home is located in Suffolk county Long Island and is worth a lot more then $35,000. The bank wants $135,000 to get his home back which of course he doesn't have 3. There is a link on the website that shows all of the liens. One lien is from the department of Social Services is for $200,000. According to my friend anytime Social Services helps you out they automatically put a $200,000 lien on your property. He says that all he owes them is just a few thousand dollars since they paid his electric bill. 4. What are his options (if any)??? If someone buys the home via auction.com and the bank accepts the offer does that mean everything is over? 5. Will the home have a clear title? There are also a few other liens on the property. I know that someone sent the tenant a letter saying that if they voluntarily moved they would get $4,000. I also told my friend that he shouldn't expect his renter to pay Novembers rent. 6. I did read a bunch of bad reviews about Auction.com Barry
  2. I am helping out a friend once again. In 2009 he made his last payment and Wells Fargo started the foreclosure process. I told him not to worry because he owed so little money and his house was worth so much more. I did say that you probably had a year or so to get your financial house in order. Needless to say that didn't happen. He just got in deeper. The fees just kept adding up. His home still had a ton of equity in it. In May of 2016 the Supreme Court of New York made the final ruling that his home was officially foreclosed and the case was closed. Question 1... It's my understanding that the lawyers for the bank has to publish in the newspaper that his house was foreclosed and that it will go up for auction. Usually they publish this for a period of 6 weeks (once a week). The home is worth approx $175k and he owes the bank approx $100k. give or take. He is under the assumption that he can still get a "Hardship loan modification" since his wife died in 2009 and she was the bread winner. I told him that he is crazy, he waited too long. Question 2. He thinks that if he came up with some money that he will be able to save the house. I told him that since he waited so long there probably isn't anything that he can do. The bank went to court and won in 2016. The next step is to hold an auction. He is a VET but I told him that he waited too long. He never got an attorney. Question 3. He wants to send in $25k to show good faith. I told him if he sends in any money he can probably kiss it good buy So far nothing was ever signed and he never went to any meetings. My advice is to save the money and use it to start your new life. Question 4. He hasn't had a job on the books since 2008 or so. The only income was when he rented out part of his house for $1,500 a month. He never filed income taxes on that so I told him that doesn't count. Still no job as of today. Question 5 I know that in New York (suffolk County) things are crazy in the court system. It takes forever to get a case rolling. Since it's been a year from the time the judge ruled in favor of the bank and the case is officially closed, how long does it take to have it published in the newspaper? So far it's been a year since the judge granted the foreclosure and closed the case. I told my friend that he better make arrangements because time was running out. How long does it take for it to appear in the newspaper? Thanks for any advice. I told him that he lived rent free for 8 years and he should consider himself very lucky. (He has no computer)
  3. Around March 2009 Wells Fargo started a foreclosure process. This is in Suffolk County New York. The case finally ended in May 2016. Of course Wells Fargo won since my friend never retained a lawyer and never showed up to the settlement conference or any other proceeding. I told my friend that sooner or later he will see his name in the legal section of the local newspaper for the auctioning off of his house. His new game plan is to rent out part of his house for $1,500 a month and then send the money to the bank. His house is probably worth close to $200,000. and he owes approx $100k. He said that the bank will take off a lot of late fees etc I told him that I THINK that he waited too long. The case has been decided in Suffolk County Supreme Court and he lost. There are a lot of foreclosures in his area but his house is in great condition. I suggested that he sells it for around $175k and start over. He didn't like that idea. For whatever reason the foreclosure process in New York takes a very long time. I can't believe that he is still in the house after 7 1/2 years. On the Supreme Court website it says that the case has been disposed (which means has been decided)... Now that it is over how long does it take for the sale date to be set and then placed in the newspaper? Is there anyone out there who is familiar with the time process in Long Island New York? I told my friend in May that he should start packing up and to expect to see the legal notice in the newspaper within 60 days. It's now almost 120 days later and nothing has appeared nor has he gotten any legal notices.
  4. My friend as no computer so I'm posting this... Approx 6 years ago his wife died and she was the bread winner. He stopped making mort. payments and now his house is in foreclosure. The bank wants 100k to bring hom current and his house is worth more. He recently got an offer from capital 1 with a $300 credit line. Since he has active judgements (1-6 years) I told him not to get his hopes up too high. He used my computer to apply. 10 minutes later he was approved. A few days go by and the second Capitol 1 offer comes in and he used my computer. He was again approved. Now comes another offer of $1,000. I wouldn't let him use my computer because he doesn't work. He puts down that he makes $47k. 1. We don't talk about this very much but he has several offers and a few new cards. How is it possible??? 2. Are there any criminal laws in what's going on? Saying that you make $47k when in fact you make nothing on the books. 3. This is in Suffolk county NY and the judgements are on the county website that is open to the public. 4. Doesn't applying for a bunch of cards in a very short period of time effect a credit score?
  5. Thank you for your reply. I agree that just paying the $50 would be the fastest way to end this matter but when I cancelled the apointment and said I would find someone else to go to that is why they sent me the bill and ncluded the statement about collections. Surely there must be something thsat I can do so that I am not blackmailed into giving them the $50. Again that you. Barry
  6. I recently had a Dr. Appointment. I wasn't happy with the DR. The 1st time that I saw him I waited 1 hour and was in front of hm for for less then 5 minutes. I made another follow up appointment but called them up a few day before the apointment and canceled it. A few weeks later I received a bill for $50. His waiting room iwas filled so it's not like he didn't have any patients to see. When I called the office to ask about the bill they said that I didn't cancel. I told them that I did. They definitly won't budge and the letter that they sent me said that I will be turned over to a collection agency. I don't have any proof that I cancelled since I did this over the phone. Again it was more then 24 hour notice. What exactly can I do so I don't get turned over to a collection agency? I feel like posting a bad review on every review website that I can think of, but that won't stop them from turning me over. I would like to do something before they turn me over to a collection agency. I know that it would be easier to just pay the $50 but I don't want to go down that road.. Thanks in advance Barry
  7. I can't believe that the past due mortagagee possibly gets rewarded by not paying. Only in America. Also an interesting concept .
  8. I'm posting this for a friend. The info that he is giving me makes no sense. Here goes.... 3 people purchased a home in March 2008 for approx $340,000.00. There was a primarary borrower and 2 others that are guaraneeing the lown. The deposit was approx. $100k and the mortagage was approx $240k. They only made a few payments. Things began to go down hill right after they moved in. Here we are in April 2015, comming up on almost 7 years of no payments. I believe that they only made 3 or so payments. The homeowner hired a lawyer several years ago. I guess he is doing his job because they are still in the house. The homeowner who is one of the people on the deed and mortagage wants to do a CASH FOR KEYS deal. I told him that the home has to be vacant and nobody can trash it. The pipes are still in place, no missing boiler, no walls knocked down etc etc etc. He was told by his lawyer that the bank may take the deal and that they won't report the forclosure to any credit reporting agency. I told him that I find this very hard to believe. Almost 7 years later and the bank is willing to do this??/ It doesn't make sense to me. Could this possibly be true? Home is worth approx $235,000 . I'm not sure what is owed but it's probably $250k or so. I told him if this happened 5 years ago then possibly. Only in NY could this happen. All 3 borrowers will still have good credit. Wells Fago BillyBob
  9. They came out, I guess inspected and now am in need to get another insurance company. The front step or what ever you want to call it is a bit expensive to replace. Approx $1,350. As this is right in front of the house it needs to be replaced. There is no danger of someone falling because where the damage is isn't close to the door. The fallen trees are where the tree line meets our grass and the trees are down in the "forrest"... If I purchase the home I will fix the front next year. The kitchen needs to be modernized and that will be taking a bunch of money. Can anyone reccommend an insurance company that is a bit easier??? What happens if you buy a "fixer upper" that has real stuff that needs to be fixed before they issue an insurance policy?
  10. I am looking at a home that has a few issues. The house needs more then just a paint job if you know what I mean. When you walk up the walkway you have to step up 1 step to go into the house. It is a very large step, almost like a platform and it's made of concrete. One of the edges is crumbleing and will need to be repaired or replaced. I was in no rush to do this because t is so minor and nobody could trip because it is not close to where a person walks. Next issue is that there are a lot of trees that have fallen down. They are in the back yard. Not where anyone will go near. I was told that these and other stuff needs to be corrected. I don't have extra money to do this. Is there a special insurance policy that I could get? On a home in the same neighborhood the cost for insurance is approximatly $2,000.00. In order to get a mortagage I will need proof of insurance. Any suggestions?? BillyBob
  11. A frind of mine purchased a house about 5 years ago, and there are 3 names on the mortgage (his being one of them). They only made a few payments and the house will be going into forclosure. (NY). He is under the impression that if he moves out that he will not be responsible for anything. I told him that he will never get his name removed. Please advise. A lawyer said that it can be done but the lawyer wants a bunch of money first. Billybob
  12. My frinds wife passed away a while back. No life insurance and she was the one who had a job. The last payment that was made was in July 2008. He told Wells Fargo that he wanted to do a hardship process since he wasn't able to make payments for a while. In the mean time he turned his house into a hotel. He was renting out rooms etc. For the most part he was making money. Unfortunatly instead of using the money to pay the mortagage he was (as he says) just managing. Due to some of the low lifes that he rented to he had to evictt a few of them etc. So here we are in Jan 2014. The bank sent him a package that said they were starting the foreclose process. 5 years ago I told him that since he only owed $57,000 or so on a home that was worth 200k they weren't going to do anything for a long time. 1. I told hime that since his house is still worth more then he owes they will foreclose. HOw fast will this process take? Will it still be the same legnth of time as a regular forclosure? 2. He wants to do a loan modiforcation. If he hasn't filed taxes for the last 5 years because he had no income I told him that it probably won't be accepted. Don't you need a steady job to do a modiforcation? I also said that by earning 30k a year and not reporting it is tax fraud. My advice to him was to put his house up for sale before he loses it. The bank has made the property tax payments and his homeower insurance payments. His homeowners insurance went from approx $900 a year in 2008 to $2,400 in 2013 with no claims. I said that he is getting ripped off. Any other ideas?
  13. My friend has not made a payment in about 5 years to the bank. The house is worth a lot more then what is owed so I guess that is why the bank hasn't been too agressive about throwing him out. In Suffolk county NY you can do an online search to see if you have judements or liens on your home or yourself. He has a lot of judgements against him. They range from $20.00 all the way to $15,000.00 Even with the judements the house is still worth a lot more then what is owed. At this point in time their are NO liens on his property. His first question.... If there is a judgement filed what happens when he tries to sell the house? Do the judgements have to be paid before or at closing or does this have no effect on the sale? One of the judgements is for over $10k, why wouldn't the credit card company put a lien on his home in order to try and get their money back. They already have a judement against him. I'm sure that at one point the bank looked at his house from the ouutside and saw that it was in great condition so there are no issues. His house is one of the best on the block. Billy
  14. A church needs to get a mortgage. According to them it is almost impossible due to the money & economy. They have the ability to bring in approx $15,000 a month in rental income. That should cover the mortgage. Is there any way to use the rental income as some sort of security so that the lenders are sure to get paid. The pastor said that his only option is to use private money for 12%, but that is a last resort.

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