 Removing someone from my apartment who isn't on lease? |
if i want someone to leave my apartment who isn't on the lease but has lived there for a few months....can i call the police or not?
Additional Details
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Additional Details
there is no lease we ... |
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 I have purchased a home, I had my boyfriend's name put on the deed of the home, is he liable for the mortgage? |
Additional Details
His parents just recently found out and his father is an attorney, now everyone is worried that he has taken on a huge debt, but since the loan is in my name and he ... |
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 Need help understanding a specific question about the Sale of Real Estate.? |
| Scenario: The payoff balance on my home is approximately $120K. Can I sell my home for $100K? If so, what type of an arrangement is made to pay the remaining $20K to the mortgage company? Can the ... |
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 Any Realtors want to tackle this question? What are your thoughts on this situation? |
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 How much would it cost to build a house using Illegal Immigrants? |
This is just a question out of curiosity. But how much would it cost(assuming you already have the land), to build a 3 bedroom house using illegal labor.
Additional Details
Christ, the ... |
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Gil | Can I sell my home under market value knowing a second lienholder will not get paid? |
My income is protected, so I only actually want to sell my home with enough money to cover my first lienholder's claim since my Son's name is on it. After that I dont care about the outstanding debt from the second lienholder as they cant touch my social security. By selling the house at 50% of market value to my brother would i be commiting fraud? Could they come after him because he essentially got a gift from me worth 50% of the property?. What are the legal ramifications?
Thanks |
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Landlord
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Other then the fact that you are overlooking the simple fact taht you can not close without the 2nds go ahead you are committing fraud by short selling to a family member.
Also, your income is not protected from the IRS, you are going to owe income tax on the money you are trying so hard to steal. |
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src50
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You can't sell a house with loan liens on it without satisfying those liens. The deal will not close. You're trying to have the advantage of walking away from the loans as in foreclosure yet transfer the title to a party of your choice. Won't work. |
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frak1a12345
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No, you can't sell it without the permission of the 2nd lien holder. .And, yes it is fraud to sell to your brother at 50% of market value. No, they will not go after him because the sale will not take place the way you want it to. |
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Mr Placid
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Actually, you can sell it, no problem. But, that lien doesn't go away just because you sell the property. The property remains security for the second lienholder. The second lienholder will still expect to be paid, and will foreclose on the property if payment is not forthcoming, regardless of who has legal possessory title.
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goz1111
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As posted, it’s a mute point since the second lien holder will have to sign off to any agreement to transfer the property with clear title, which does not cover the second lien total loan amount
So no you will not be able to sell it to your brother or any third party unless the second lien holder agrees to the short sale, to wit when a second lien holder is involved the chances of a short sale decrease dramatically
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Leo F
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First thing is the 2nd lien-holder can still sue you for the Mtg amount and get a judgement and the 2nd thing is the loan will not close unless all lien holders are paid!!! No legal ramifications, it just cant be done. |
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I Buy And Sell Houses
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As src50 says, the sale couldn't close unless the liens are satisfied.
Beyond that, anything you're considering is likely illegal or fraudulent.
Besides, why do you want to shaft the second lienholder. They lent you the money on terms and conditions that you agreed to. What did they do wrong? Nothing. And now you want to wipe their equity out? That's just wrong.
What you or your brother might do is offer to buy out the second lienholder at a reduced amount. Let's say you owe $30,000 on the second. (Now, financial calculations really depend on the interest rate, remaining payments, future value, and so on. For simplicity's sake, we'll skip those.) You might offer the holder of the second $15,000 in cash (or $10,000, or $5,000) in return for removing the second mortgage. If the lienholder could use the cash now, and if he/she thought there was a likelihood that you wouldn't be able to pay the full amount required, the lienholder might accept a reduced amount.
But be honest and fair with the second lienholder. |
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godged
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You cannot do this for the reasons outlined above.
NO lender will allow you sell this way, and NO lender will allow a short sale to a relative. You would be much better off finding a legal way to convey a short sale, which is going to devastate your credit score.
There will be no legal ramifications because it isn't going to happen.
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Jennifer M
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I'm sorry but you are stating that you are going to sell something at 50% of market value because your son's name is on the lien - and then you ask if you are committing fraud?
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Expert Realtor
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You can't sell it b/c all sales contracts require that you pass CLEAR title to the new buyer and if you already have a lien it won't be removed until you pay all of the liens in full.
They are on your title, and as soon as a buyer's closing agent pulls it, they will be calling you to get payoffs.
So, you don't have to worry about committing fraud b/c you will never be able to legally close the transaction to start with.
Banks are smart like that.
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