If you are not on a loan for a house, can you be sued if your name is on the deed?
Answers: You can be sued if the bank decided to foreclose the property however the lawsuit would make you a defendant because the bank is suing you in order to gain the property back from any party named on the deed. How ever this does not make you responsible for debt or note on the property if you did not sign up for mortgage. If your married and spouse signed bank note on property you may be held responsible if you live in a state that holds both couples in a marriage liable for notes and debts incurred by spouse. State law varies an attorney is needed to give you a complete answer. Also this question is very vague and needs to be more specific in regards to a particular situation!
Depends on what you are being sued for and by whom.
If you are listed on the deed - that means you are an owner of the property. You get all the rights, responsibilities and liabilities that come from owning the property.
When you are on the deed or in title, yes that can happen and it will. For example, your spouse may have purchased the house long before you meet, their mortgage, their house, etc. You meet up, go on title, and any future summons will name all parties in title, or on the deed.
Even unknown parties will be named, such as unknown spouses, Jane Does, John Does, etc. People can get added, dropped, etc. Always seek legal counsel.
How do make an offer on a new house before my current house has sold?
Answers: Put a contingency for the sell of your home in the contract but don't expect to many to accept such a contingency right now. they may counter that you will have first right of refusal i someone else comes along WITHOUT such a contingency.
Right now I would not accept such a contingency with the markets the way they are.
You state in the offer that it is "subject to a 1031 exchange" or what you need it the escrows to close concurrently so you can give away the keys to your house, while your getting the keys to your new one.
Exciting huh? I love real estate
Very Carefully! Make it "contingent upon your current home selling first". You may be required to put a specific date or time frame on that kind of contract. But it protects you as well as the builder. Should you NOT write this as part of your agreement, you could potentially have two mortgage payments. You want to make sure if your home doesn't sell that any earnest money you put down on the new house is refunded. I hope you are using an Realtor, if not I suggest you seek some advise from a real estate attorney. While the builder may be straight forward, someone really needs to look out for your interest too. A builder Agent can help you too, just don't tell them anything about your financial situation or anything about your motivation to purchase the new house. They are technically and legally bound by fiduciary duties to the seller first.
Florida Foreclosure?
OK... this may be complicated. My wife owned a home before we get married. I lived in that home beside here before I moved due to the military. Now we are both living within a home in another state (Colorado) and the home is within my name. We own been powerless to sell the home and are immediately well losing on the payments. It has be for sell 7 months and not sold and i can no longer hold up paying for that and the house here. There is no way the house will flog for what she owes. What all can they travel after? Can they try to get the money from me, will we be capable of just do a 1099? Will they try to come posess our furniture? I will chuck norris roundhouse see them if they try to come into my house. I am a military cop and i live on a military base...I will distribute them tickets have them arrested...ha...net sure they have a unyielding as hell time getting the stuff.Answers: Before you write off the house, you do own options - even selling the house for smaller number than what is owed (called a short sale).
There are a lot of option besides foreclosure. To be brief I will just detail a group of them, instead of trying to explain one or two:
1. Rent out a room (or the whole house) and compensate out whatever you owe at the come to an end of the month.
2. Refinance for better set rates, and/or a longer loan (40years).
3. Sell via non-traditional means: lease substitute, wrap-around mortgage, rent to own, five day Dutch auction, auction, etc. There are more ways to sell a house besides only just using a Realtor.
4. Short sale – selling for smaller amount than the amount owed on the mortgage.
5. Sell to an investor - especially someone who knows how to do a short public sale. Investors are easy to find - freshly go through your local classified ad and find the ads that read "I buy homes".
6. Deed contained by Lieu - Volunteer to give your loan to your wall in lieu of them foreclosing - save them thousands, and saves you a foreclosure.
7. Declare Bankruptcy - 2nd lowest possible favorable, you will get rid of your debt (or be given a available repayment plan), but it won’t erase the mortgage and you could have a credit hit almost as unpromising as foreclosure for 10 years.
8. Do nothing - the bank will take exactness of everything else! (AKA - foreclose – the worst credit hit you can have, and seven years back you can petition to have it removed).
To answer you query - if the bank does foreclose, they cannot come after your personal belongings to compensate for the debt unless they get a court establish (which means they hav eto sue you - which is possible, but unlikely due to the number of properties that are forclosing right now). Banks are much more predictable to work with distressed homeowners right in a minute, so take lead of that and find a way to supply this house (or keep it until you can).
P.s. Beware the woman above - she has be advertising mortgages adjectives day to other askers. I guarantee that her business isn't out of the munificence of her heart. Know what you are buying before you sign anything.
Stop Foreclosure Relief
We at, National Home Relief (NHR) enjoy no interest in owning your home nor interested contained by prospering from your misfortune. As professionals who understand the mortgage industry through years of experience, we know ways to sustain you. Put our expertise into action and you could become another one of our countless thrilled clients. Let our caring staff give a hand you! If we are unable to lend a hand you from our program, we may have other solutions to present you that will.
http://rasbey.myreliefcard.net
Stop Foreclosure Programs Available
REPAYMENT PLAN
LOAN MODIFICATION
VA LOAN MODIFICATION
SHORT PAYOFF
DEED-IN-LIEU OF FORECLOSURE
SPECIAL FORBEARANCE
PARTIAL CLAIM
Programs Operation Steps
Step 1: Contact Relief Counselors
Step 2: Complete Online Information Form
Step 3. Mortgage Default Department will review your wallet
Step 4: You will receive a call inwardly 48 hours
Step 5: If a plan could be worked out, a payment plan would be setup
If you would resembling for a Relief Counselors to give you a christen and provide you with more information please provide the below information:
Outside of that we provide merchant relief, since you hold had it on the souk.
email me rbeybiz(a)yahoo.com