What Do Charges for LPHI in Mortgages Mean?
When you see an LPHI charge on your mortgage statement, it likely stands for Lender Placed Hazard Insurance. Your mortgage company will buy insurance on your property if you don’t have it, or if what you have is not enough. The purpose of this insurance is to protect the lender’s financial interests ...
Do You Still Have to Pay ‘Equity Ownership’ if you Buy a Property in a Country Club Community?
Usually, when a homeowner buys a property in a specific community, such as a gated country club community that provides amenities like golf and tennis, paying for an equity ownership is required. However, each locality and every property association is going to have a different set of rules. The qui ...
What Are Your Rights as a Renter if a House is in Foreclosure and You’re Unsure if the Owner is Paying any of the Bills?
It can be extremely unnerving when you’re renting a house that ends up in foreclosure. When that happens, you can be sure that the owner isn’t paying the mortgage. In many cases, it’s easy to assume that the homeowner isn’t paying any of the taxes, insurance or homeowners association fees either. Yo ...
Am I Responsible for Foreclosure Attorney Fees After Chapter 7 Bankruptcy?
Every foreclosure is different, and so is every bankruptcy. What you may or may not owe your foreclosure attorney will depend on the terms of your bankruptcy. Start by checking the contract or agreement you had with your foreclosure attorney. Then, contact your bankruptcy attorney for help. In most ...
What are the Typical Fees for a Real Estate Attorney to Review a For Sale by Owner Property Contract?
Usually, the purpose of selling your home on your own is to reduce the costs associated with real estate transactions. When you sell by owner, you don’t have to worry about paying hefty real estate commissions to agents who market and show the house on your behalf. Even if you are selling on your ow ...
Will Applying for a Loan Modification Restart the Clock on the Statute of Limitations in a Foreclosure?
It can be unnerving when a homeowner is behind on the mortgage and unsure of exactly when the foreclosure process is going to result in the locks being changed and the possession of the house moving to the bank. Timelines and statutes of limitations are different in every state and in every situatio ...
What is Non-Jury Trial in a Florida Foreclosure?
On March 22, 2013 Administrative Order 3.312 became effective. This order states that any cases filed more than three years ago were being set for mass trials. The purpose of this is to help move cases along and reduce foreclosure backlogs. However, it can also flood the market with foreclosure sale ...
What is an Order Strike Notice for Trial?
Updated:6/2/23 When you receive an order strike notice for trial, it means that the trial that was scheduled has been postponed. This usually occurs when one of the parties involved in the court action files a motion to get the trail date re-scheduled or delayed for some reason. It’s an order tha ...
Is it Possible to Save a House That is in Foreclosure if You’re Separated, Soon to Divorce and the Loan is Not in Your Name?
Divorce is hard enough, but now and again unpleasant circumstances become even more complicated. This is frequently the case with foreclosure, which these days is often an uninvited guest during divorce proceedings. But if you’re in the middle of a divorce and facing the prospect of foreclosure, don ...
Under What Circumstances Are You Required to Pay Your HOA's Legal Fees to Protect Their Own Interest in a Foreclosure Case?
Unless otherwise stated in their governing documents (declaration and bylaws), HOAs may collect attorney fees only when those fees are incurred as a result of past due assessments. So if your assessments are up to date, your HOA has no statutory basis to pass on their attorney fees to you. When a ...
