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Kuuner

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  1. So I'm assuming you couldn't do this more than once. Do what more than once? File a skinny BK? People do it all the time. Frequent Filers. What people miss is that there comes a point in time, some times, where while the BK is filed, and may be valid, the filer could lose the right of automatic stay if they file multiple times or, within a certain time frame from a previous filing.
  2. Against the entity doing the foreclosure. You would have to have a compelling reason for an ex parte motion in my opinion. If you are filing an emergency hearing to stay a foreclosure, without a reason to do so, my opinion would be that you would be in hot water, spend lots of money, and fail on the endeavor. The question was though, how could a foreclosure be stalled. That's one way to do it.
  3. Unless you pay the amount due, the only thing that slows/stops a foreclosure sale, (outside of a lawsuit) is a bankruptcy filing. You can file a bankruptcy with one piece of paper almost but, you'll get a notice to dismiss for not filing a complete package, the day you file with the hearing on the BK and motion to dismiss about 30-45 days after filing.
  4. There are some misnomers to your post, like "Tacking on fees", and other things that should be clarified. No one "Tacks on fees" just because. If you are late on your payment, you may get a late fee, which you agreed to when you took the loan out. If you end up being sued, you will be required to pay the attorney or, if you are not in a judicial state, the trustee, for the foreclosure. It's not a punitive measure but rather, what you agreed to when the loan originated. Also, if your attorney actually told you everything freezes, they were wrong. It doesn't freeze. If you are not contractually
  5. There are some misnomers to your post, like "Tacking on fees", and other things that should be clarified. No one "Tacks on fees" just because. If you are late on your payment, you may get a late fee, which you agreed to when you took the loan out. If you end up being sued, you will be required to pay the attorney or, if you are not in a judicial state, the trustee, for the foreclosure. It's not a punitive measure but rather, what you agreed to when the loan originated. Also, if your attorney actually told you everything freezes, they were wrong. It doesn't freeze. If you are not contractually
  6. There are some misnomers to your post, like "Tacking on fees", and other things that should be clarified. No one "Tacks on fees" just because. If you are late on your payment, you may get a late fee, which you agreed to when you took the loan out. If you end up being sued, you will be required to pay the attorney or, if you are not in a judicial state, the trustee, for the foreclosure. It's not a punitive measure but rather, what you agreed to when the loan originated. Also, if your attorney actually told you everything freezes, they were wrong. It doesn't freeze. If you are not contractually
  7. Walking away would create some excitement in your life. Short sale doesn't exist based on the numbers you gave. Deed in lieu would be difficult. Not impossible but, not probable. They have no incentive. I'd also say you are calculating your deficiency potentially short. I'm confident that $20K nut you are thinking you may get hit with, would be much higher than that if it went all the way to sale. Sell it and pay the difference in the short proceeds from payoff, out of pocket. It'd be much easier than having to do the same thing down the road but with destroyed credit. Don't be a victim to
  8. Deficiencies vary by state (Assuming there is a deficiency). A deficiency is when the lender/servicer/bank forecloses and nets less than the total debt owed. If you owe $200,000 and the lender forecloses at that amount, but the property is only worth $100,000, there is a good chance you will see a 1099 for $100,000. Again, depending on the state, that may be the end of it or, that may be the beginning. You won't see a 1099 necessarily if they are going to go after you for the balance, if they are allowed to do so by statute. I would be less concerned about what it says on your credit repor
  9. There is that old saying...be careful what you wish for! Kidding but, the reality is, that is what you owe. What you are paying on isn't what you owe so, for them to include the deferred balance in the total balance, would be accurate in my opinion. Balance and payment amount are two different things so, if you are making a payment on one balance and the payment is sufficient to advance the due date and is equal to the modified contractual amount due, and they are reporting that payment status correctly, in my opinion, its all correct. You may have been getting the benefit of an incorr
  10. no, it's not just non judicial it's either or depending on the note, just like AZ Judicial Foreclosure The judicial process of foreclosure, which involves filing a lawsuit to obtain a court order to foreclose, is used when no power of sale is present in the mortgage or deed of trust. Generally, after the court declares a foreclosure, your home will be auctioned off to the highest bidder. Non-Judicial Foreclosure The non-judicial process of foreclosure is used when a power of sale clause exists in a mortgage or deed of trust. A "power of sale" clause is the clause in a deed of trust
  11. If you have the money then it's more of a "What do you want to do" situation than, "What do you have to do". That's a good position to be in considering most people are not in that position of having options. If its a place your family knows as home, who cares if you make money, unless it's not a family home and all you care about is the money aspect. If that's the case, well, it's your decision. I'm sure you'll do a cost benefit analysis. I'm sure you've already considered the credit aspect. I'm sure you are considering the health impact this forced move may have on your ailing wife. Good luc
  12. If you have six months redemption, it isn't to bring it current, it's to pay it off. I would beg borrower cheat lie and steal to do it if I were you. Also, The senior doesn't HAVE to be notified. They don't even care if they are as their lien survives. Whether you got the notice or knew or not, will not be important. What will be important is that the foreclosing entity has documentation they sent notice, not that you received notice. I can't see someone foreclosing in 2nd position with that tight of an equity position. While it sucks you were paying for five months to the senior, afte
  13. I can get a car loan. I have reasonable credit. Can you explain what frontend and backend ratios are? Maybe you have undeclared income and maybe your credit is good enough to get a non income verification loan and maybe I'm just missing it but it sounds like you are having cashflow problems. Getting a new car, with a new car loan sounds like that's only going to exacerbate the problem. I get that you need transportation and I get that your car took a dump but, is this the best solution? To go further into debt? Sounds like the margins are thin and my concern is adding more debt to
  14. So you don't have a job but you can get a car loan? If you get a loan (somehow) and then apply for another mod, the payment will be based on your front end debt ratio but...your back end ratios will take the car into consideration and could throw you out of any mod. That's assuming they'll consider you anyway.
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