the escrow company is trying to get me to sign papers for me to move out early. What are my options and legal rights???
2007-10-26 05:37:03 · 11 answers · asked by Linda p 2 in Politics & Government ➔ Law & Ethics
i signed a short sale doc. it is in the process of going through escrow, new owners are attempting to evict me early , what are my options at this point?
2007-10-27 07:08:34 · update #1
That depends on the state that you are in, because foreclosure is governed by state law.
I recommend that you talk to an attorney who is licensed to practice in the state where you are located.
There are a large number of issues in a foreclosure that you will need an atorney to help you with.
The company that you describe as an escrow company is probably a trustee, if you are located in a state that uses a third party trustee. Often title companies become involved as trustees.
Tell the escrow company that you need copies of any papers they want you to sign so that your attorney can review them first.
Tell the escrow company that you will not sign any document that your attorney has not read and approved first.
Only your attorney represent your interests. All of the other people, no matter how nice they sound, do not represent your interest.
One thing that you must be very careful to avoid is the hundreds of scam artists that will descend on you when a notice of default is filed.
The notice of default is a public document.
There are large numbers of greedy parasites who subscribe to services that send them the contact information of people who have received a notice of default.
The people who look up the notices of default are thieves. There are no exceptions, although they will say they are part of some organization that wishes to help you out of your predicament.
These people are only looking for an opportunity to steal what remaing equity you may have left in your house.
Some of them are very good and really sound like their only interest is to rescue you from your predicament.
If you think that you might want to work with one of these people, talk to your attorney first. Let them know that before you sign anything your attorney must review all of the papers first.
I wish you much success in bringing your mortgage current.
2007-10-26 05:52:53 · answer #1 · answered by Anonymous · 3⤊ 0⤋
The rules regarding foreclosures vary greatly from state to state. For that reason, you need to consult with an attorney in your state. ONLY an attorney licensed in your state can advise you on the proper course of action depending on your financial situation. As such, the following does NOT and SHOULD NOT be taken to constitute legal advice. It is only limited information regarding foreclosures.
A chapter 7 bankruptcy will probably not allow you to keep your house. A chapter 7 bankruptcy, when filed, places what is known as an automatic stay (or hold) on any proceedings, including a foreclosure. However, the creditor can and in most cases will, ask the bankruptcy court to lift the stay and allow the foreclosure to go forward. So, filing under Chapter 7, if you really want to keep the house, will not help you.
If you file under Chapter 13, you *might*, and I stress *might* be allowed to pay off the arrearage on the house under the chapter 13 plan, (generally 5 years), and then would continue to make the regular monthly payments on the house. This option is not right for everyone, since it requires a steady source of income.
Again, only an attorney licensed in your state can advise you on this situation. For a referral, contact your local or state bar association.
2007-10-26 13:06:38 · answer #2 · answered by Phil R 5 · 1⤊ 0⤋
Your legal rights are spelled out in the mortgage you signed. You could hang around until the property is sold and the sheriff escorts you away and a moving company dumps your furniture into the street. On the other hand, I have seen some companies that have offered $ 1K or so if you move at a certain time. Frankly, this is NOT the time to to be a "stick in the mud" and hope the law will bail you out. Try to get out as soon as practical and keep the company advised.
2007-10-26 12:42:29 · answer #3 · answered by cattbarf 7 · 1⤊ 0⤋
What they can and can't do, and what your rights are depends entirely on the terms you agreed to when you signed up for a loan in the first place. Go find, and read those papers. What you agreed to in the case of you not doing what you promised to do will be clearly spelled out.
2007-10-26 12:41:49 · answer #4 · answered by oklatom 7 · 1⤊ 0⤋
Really depends on how far into the process you are and and what your sitaution is. Escrow companies should have nothing to do with this process!
2007-10-26 12:39:29 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Don't sign if you want to keep your home!! In Boston we have new laws to help prevent fore- closers The spelling off but you know what I mean. The is help google your area for such preventions.
Smooches
WonderWoman
2007-10-26 12:42:26 · answer #6 · answered by wonderwoman 4 · 0⤊ 0⤋
Since most mortgage companies are on the brink of filing for bankruptcy, why don't you see if you can negotiate with them for better terms and/or go loan shopping, rather than lose your house?
2007-10-26 12:39:42 · answer #7 · answered by Anonymous · 1⤊ 0⤋
You still have time to get back on track with your payments. They still have to give you time to catch up.
2007-10-26 12:44:43 · answer #8 · answered by Anonymous · 0⤊ 0⤋
can you get some one to buy it from you fast before sheriffs sale
2007-10-26 12:41:11 · answer #9 · answered by loveless 1 · 0⤊ 0⤋
file chapter 7 bankruptcy so you can get relief of stay on your house, they can't touch it then.
2007-10-26 12:39:15 · answer #10 · answered by poison_angel32 5 · 1⤊ 0⤋