What Is a Foreclosure “Rescue” Scam?
Video Summary
What is a foreclosure rescue scam? This is when your house is in foreclosure and you are approached by a company that says, well, we will take care of this for you. We will take care of making the payments and get your mortgage paid off. We need for you to go ahead and sign a contract, agreeing to transfer the property to us, or in fact, even filing to have the deed transferred to this rescue company. What they then do is they don’t do anything. As far as the lender’s concerned, they try and find someone to purchase a property for an amount in excess of whatever is owed to the lender. And then if they find that will then you have lost your equity, any equity in the property, and they are entitled to. They keep the money. They may even have you sign a deed, which they hold an escrow, but the scam is they don’t do anything.
They don’t file anything in the court proceeding. They don’t pay the lender anything. And so you’re sitting there thinking that they’ve rescued you from this foreclosure action. And meanwhile, the foreclosure action just continues to roll along and you lose the property in a foreclosure action and your credit is damaged and that there is a foreclosure action. So be aware when someone comes in and offers to rescue you from this foreclosure action, you should contact an attorney about whatever the action is and have that reviewed before you agree to it. And talk to the lawyer about what your rights are and how you can resolve the foreclosure action, either through a, a deed in lieu of foreclosure or an agreement to a short sale, or a stipulation to judgment and a waiver of deficiency. So there’s any number of other alternatives, but be aware of someone that’s going to save you from a foreclosure action. If you have any questions, give me a call at (727) 847-2288.
- Published in Real Estate - Foreclosure, Videos
How To Remove a Ex Spouse From a Deed?
Video Summary
How do you remove an ex spouse from a deed? The question really should be rephrased as “how do you remove the interest of an ex spouse from the title to the property” and that the deed indicates how the property is titled. The way to do that is to have the ex spouse sign a deed, conveying their interests. If the court, if the judgment of disillusion of marriage is handled by a lawyer, the lawyer and the property settlement agreement is provides that the spouse is to convey their interests. The lawyer can insert into the final judgment rewording that the judgment shall serve as a conveyance of the ex spouse’s interest in the property and serve as a conveyance to the other spouse. If you have a situation where you did not have a lawyer and that language does not appear in the final judgment, and you have a property settlement agreement, which the court adopts, and that’s where one spouse has agreed to transfer the, their interest in the property to the other, the court usually reserved jurisdiction over the parties and their real estate to comply with the provisions of the property settlement and the final judgment.
And that instance, you can file a motion to and force the provisions of the final judgment that has incorporated the property settlement agreement. So if you have any questions about getting a deed from ex spouse, will give me a call at (727) 847-2288.
- Published in Real Estate, Videos
What Are “Guardians Ad Litem”?
Video Summary
What are” guardians ad litem”? That is a term used in litigation. Whenever someone’s appointed to represent the interest of someone. An example of people who they’re appointed to represent is if you have what they call on unknown spouses are unknown heirs. They may appoint a guardian ad litem to represent this class of people in the litigation so that their rights are protected. Or if you tried to serve this person or cannot locate them and you want to be sure that their rights are protected whenever the court makes a judgment, you ask the court to appoint a guardian ad litem, to represent the interest of a defendant who you have served through construct the service of process. And, so that the guardian ad litem can appear and verify that you’ve either made service or process or had the person file something in their behalf. But that’s what a guardian ad litem is. It’s used in litigation to protect the interests of people who do not appear. And you’ve tried to serve through constructive service or through publication. If you have any questions about a guardian ad litem? Give me a call at (727) 847-2288.
- Published in Guardianship, Videos
What Is A Prescriptive Easement?
Video Summary
What is a prescriptive easement? A prescriptive easement arises when someone uses someone else’s property to travel across it to get to their property or to access something at another location. And they do this for a period of years, and I believe it’s seven, but I would have to double check that, but it has to be for an extended period of time and they keep going over the same trail or pathway. For this roadway or dirt road, for the prescribed period of time. And it has to be without the owner’s permission. And then after the required period of time, then the person can then file an action to have a prescriptive easement, which is to them so that they have a right to continue to use this easement as long as they want to. And the owner of the property has to allow them to continue to use their prescriptive easement. It’s very rarely do you see an action for prescriptive easement, but, and they’re difficult to prove but, that’s their criteria. And I’m not sure about the time period that the, prescriptive easement has to be used at virtually before you’re entitled to the habit judicially determined to be a prescriptive easement. If you have any questions about prescriptive easements, give me a call at (727) 847-2288.
- Published in Real Estate, Videos
What is a Secured Transaction?
Video Summary
What is a secure transaction? A secured transaction is one where you have an obligation, which is usually a promissory note. And there is a pledge of collateral that goes secures the note so that if the note is not paid, then the lender has a right to take back the collateral. So, the obligation is secured by what the collateral is and a real estate transaction. You have the bar or sign the note, and then they also sign a mortgage. And the mortgage states that if they don’t make the payments on the promissory note, they don’t pay the taxes or keep the property insured. Then you have a right if they default to foreclose and take their property away. So, you’re secured for the value of whatever the collateral is. If it is personal property, such as an automobile, they have, you signed what they call a security agreement.
And that’s where you’re pledging the automobile for the repayment of the loan. If you default on the loan and there that controlled by the uniform commercial code, which allows them self-help, which is usually a repossession of your automobile with a tow truck driver or whatever. And then they sell the, automobile at auction or whatever, to try and recoup as much as they can to repay a portion of the debt. So, sometimes the obligations are over secured in which case you’re entitled to any excess. If the collateral is not worth or not worth what is owed well, then you may be sued. And for the difference between the value of the collateral when it was sold or at the time of the sale, and how much is owed and a judgment entered against you. If you have any questions about a foreclosure action, or give me a call at (727) 847-2288.
- Published in Real Estate, Real Estate - Foreclosure, Real Estate – Selling, Videos