http://f3law.disqus.com/enFri, 21 Oct 2011 04:32:23 -0000http://f3law.com/foreclosure/does-proposed-michigan-foreclosure-law-kick-owners-out-too-quickly-mlive-com/#comment-340502848<p>This is really unfair, like me my house is under foreclosure and to think we are paying this house for almost 6 years but in a matter of less than a month we will loose a place were we built our dreams and we trying to talk about it about there are negotiations that they just put under thought. We told them we are currently unemployed but it seems that they don't want to listen to the truth. What is Government doing?<br></p>Allison BrydeFri, 21 Oct 2011 04:32:23 -0000http://f3law.com/quick-tips/#comment-315619190<p>I was married for 23 years and filed for divorce. My husband is keeping the house, however, due to the housing market it is upside down in terms of value. My name is not on the mortgage or the deed yet he &amp; his attorney claim it is a marital asset and want me to assume half of the difference (between what is owed &amp; what it is valued at) even though he is not looking to sell the house. Is that legal, am I really responsible?</p>DenneyanMon, 19 Sep 2011 23:09:09 -0000http://f3law.com/foreclosure/foreclosure-moratorium-alternative/#comment-130364412<p>I've read with interest all of your articles and still have to stand by my firm commitment to lose the house. I have made an honest attempt to sell, both FSBO and through a local Real Estate Firm. In the 2.5 years the house was on the market, it was shown a mere handful of times and had little to no interest. The reasons for this are many and varied. First, it is a well maintained home with many amenities. It is on a street where many homes have been sold for under their value/mortgaged price and sits right between 2 homes which were foreclosed upon: one by the federal government for back taxes and the other a typical foreclosure due to lack of payments by the owner. Within a radius 6 blocks of my house are 50 or so other homes with For Sale signs in the yards, some with foreclosure signs and others abandoned. I have been faithful with payments for 20 odd years and just recently have not made payments (3 to be exact). I have not received the 14 day letter you have described. I've contacted a law firm who have suggested many options. For the most part, the options all include my staying in the home, continuing to shell out money while waiting for the bank to modify my loan. the big issue is this: I do not want the house. I want to sell. I want to vacate by the month of July. I am retiring from public education in June and do not want to continue to live in the house, pay the exorbitant taxes, high utilities and care for a large front and back yard requiring watering, which runs $200 per month from May to November. Again, I do not want to stay in the house. I have a modest amount of mutual funds worth approximately $55,000.00 to help with my retirement. I cannot access those funds until age 59.5, but do not want to risk having the bank take that money. I also have a life insurance policy worth $27,000.00 that I am using to fund my daughter's college education. It matures in September of 2011. I also have some very small funds totaling not more than $8000.00. Cash on hand amounts to about $3000.00 at any one time. What are my best options? My lawyer suggests I attempt to do a "short sale" then if it doesn't sell, hope the bank will take the home in lieu of sale/foreclosure. If I do go for this option, does that mean I must find the money to make up for the three months I have missed in payments and then continue to pay the monthly mortgage in the amount of $914.00 until the bank says I've tried "hard enough to sell at a short sale?" Remember in June I am retiring and will receive a modest pension which will not even come close to what I would need to stay put. Further, I do not want to stay put for all of the reasons I've mentioned and simply because the upkeep is just too much for a 55 year old woman alone to handle. It seems as if any way I slice it, I am going to lose and lose big. What are your thoughts? Should I file for bankruptcy? If I do, does that mean all of my mutual funds and other assets are under scrutiny? If I walk away, will the bank come after me for the difference between my loan payoff amount and what the house might get at auction. (By the way, I am "under water" $21,000.00 at this time). Thanks for any advice you might be able to give.</p><p>Sincerely,<br>Vickie Clock</p>VickiebcTue, 18 Jan 2011 00:52:58 -0000