Perhaps your bank has filed a motion incorrectly, or perhaps they have filed one without apparent reason in your eyes. You might be wondering if such a motion can be quashed and, if so, how would you go about doing it. There are
many options for treating such a situation based upon the specifics of each scenario, but we’ve provided a couple of pointers below to get you moving in the right direction.

The most reiterated advice for quashing a motion filed by a bank is to find a lawyer who is acquainted with the type of situation you’re facing. The language and information of these types of motions tend to be highly technical and require an experienced eye to catch the flaws, loopholes, and solutions. Seeking out counsel who is knowledgeable of the situation’s necessities will save a lot of time and heartache in the end. Your lawyer will need to be experienced in the right of action you have against the bank in the circumstance. They will also be needed to oppose the rescheduling of the sale if the instance calls for it.

While your rights are undeniable, judges tend to treat these situations quickly and aggressively. Having a skilled lawyer who has managed similar scenarios will ensure proper representation in court and enforcement of your rights.

Another advisement against a bank’s motion suggests self-representation in court under the circumstance that you have followed through with all modification payments and can provide proof. Often there is a disconnect in communication between bank departments, which could result in an incorrect motion. Proving that you have made all required payments, your objection to the motion should face little opposition in court.

Stephen K. Hachey, a Florida foreclosure attorney, can help your wade through this process and determine a positive solution. Contact him at 813-549-0096.

The opinions in this post are solely those of the author. The author takes full responsibility for the content. Like all blog posts, this is offered for general information purposes and does not constitute legal advice.

If you’re in the unfortunate predicament of failing to receive payments after an owner-to-owner transaction, you may question your options of proceeding. Do you foreclose? Perhaps you should begin by evicting?

First, know that eviction refers to the current occupation and ownership of the property involved. A foreclosure is an effort to reclaim the property title. While eviction may likely be a necessity in the future, it is suggested that the original owner proceed with foreclosure first. The essential instrument of success in this proceeding is proof of the original owner’s continued mortgage payments. At this point, an argument can be made for continued interest payments on the mortgage or for the equity that has been gained since you (as the original buyer) first signed.

The process of foreclosing requires an acceleration notice or default notice that typically would notify the occupant of a 30-day deadline on total payment. It is also highly suggested that an attorney oversee the process as foreclosures tend to be convoluted and tricky. Be prepared, too, to pay costs for court in addition to attorney fees.

To summarize, if after an owner-to-owner property sale the buyer or occupant fails to make payments, a foreclosure is advised. An attorney to guide the process is also highly suggested. After an acceleration or default notice completes its deadline, it may then be necessary to evict.

Stephen K. Hachey, a Florida foreclosure attorney, can help your wade through this process and determine a positive solution. Contact him at 813-549-0096.

The opinions in this post are solely those of the author. The author takes full responsibility for the content. Like all blog posts, this is offered for general information purposes and does not constitute legal advice.

Although it could take a mortgage lender months or even years to initiate a foreclosure after a homeowner has stopped making payments, it’s important that borrowers know what the statute of limitations is and their set time limit. Here’s an overview of the statute of limitations and how it applies to your mortgages.

Keep the Statute of Limitations in Mind

A statute of limitations is a set time limit for starting a legal claim. There are all kinds of legal actions that have a statute of limitations, each with a varying time frame based on the kind of action or claim. For our purposes, we’ll focus on the statute of limitations as it pertains to home foreclosure.

Generally, if the statute of limitations expires before the mortgage lender initiates the foreclosure, the lender’s claim becomes invalid. In this case, the lender isn’t entitled to foreclosing your home. This expiring time limit varies by state.

Learn More About Your State’s Statute of Limitations

It’s important to remember that each state has its own statutes of limitations. For example, Florida’s current statute of limitations for written contracts – mortgages – is five years. Although most states fall within the three-to-six-year range, some extend as far out as 15. Research your state’s statute of limitations to see how much time you’ll have once you default on your mortgage – first and/or second.

Of course, if you have any questions or concerns regarding your mortgage and your state’s statute of limitations, you should seek legal counsel immediately.

Stephen K. Hachey, a Florida foreclosure attorney, can help your wade through this process and determine a positive solution. Contact him at 813-549-0096.

The opinions in this post are solely those of the author. The author takes full responsibility for the content. Like all blog posts, this is offered for general information purposes and does not constitute legal advice.

3 Things You Should Know About Selling a Private Mortgage Note Whether you’re working with an investor to sell your private mortgage note or dealing directly with a buyer, it’s important to know the ins and outs of doing so. No matter your reasoning for selling your private mortgage note, remember to look at more than just one bid to ensure you’re receiving market value for it.

Here are three other things you should know about selling a private mortgage note.

Your Personal Credit Doesn’t Matter

When preparing to sell your private mortgage note, you should gather all of the information about it and the property. Contrary to popular belief by many note sellers, this doesn’t include your personal credit information. The mortgage note’s strength is determined by factors like its terms, the property’s value and the BUYER’S credit rating. Never disclose your personal credit information.

Your Note Won’t Sell at 100 Cents on the Dollar

As much as you’d like it, you won’t receive 100-percent value for your private mortgage note. This is because a buyer will accrue expenses while obtaining your note, including costs associated with a title search, a drive-by appraisal and, if everything checks out, the closing. That’s why it’s even more important to look around for more than one mortgage note quote, so you can maximize your sale.

Your Proof of Payments Add Value to Your Note

When a buyer – investor – looks into purchasing a private mortgage note from you, he or she doesn’t want to buy a problem. By providing proof of payments, you put the buyer’s mind at ease of any outstanding issues. This can add tremendous value to your private mortgage note, both when shopping it and when selling it.

Stephen K. Hachey, a Florida real estate attorney, can help your wade through this process and determine a positive solution. Contact him at 813-549-0096.

The opinions in this post are solely those of the author. The author takes full responsibility for the content. Like all blog posts, this is offered for general information purposes and does not constitute legal advice.