[Help] I am in a jam Updates to this post /post/267422-i-am-in-a-jam Wed, 02 Dec 2009 10:35:56 +0100 Reply from kayebro /post/267422-i-am-in-a-jam#reply-4955129 Aries, litlenick, Thank you for your response.
I only there were a better alternative ( Aries I am also in california)

]]> kayebro Mon, 20 Apr 2009 00:13:54 +0100 Reply from Aries /post/267422-i-am-in-a-jam#reply-4955075 Kay, I just lost a home to foreclosure that 2 yrs ago was valued at $420K. Estimated value at time of foreclosure: $89K. I live in one of the hardest hit (foreclosure) counties in California. As for fighting with the lender, I hear ‘ya. They’re doing it because they know that they can.

In answer to littlenick’s question: the tax write-off’s are *huge* for these guys.

Kay, like I said, I completely emphasize with you. I’m still in “my” home because I’m using legal stalls … but they’re only good enough to “buy” me some time to find alternate living conditions, and they will eventually run out.

Filing for BK is one kind of legal stall. Prior to that, however, is replying to the “Unlawful Detainer”. Yet another stall: Request a jury trial (yes, even in a civil suit, you have a right to a jury.)

Kay, I know of a WONDERFUL 24/7 online legal site: http://www.justanswer.com/

For as little as $15. you can ask any question. Initially, your question has a digit limit (number of typed characters), but once a lawyer gets back to you, you’ll have that particular lawyer’s help with any additional questions relating to your original question. These lawyer’s have saved my bacon and given me excellent advice on several issues.

Again, buddy, I do know how you feel … you’re in my thoughts and in my prayers. Good Luck to us all; we need it.

-Aries.

]]> Aries Sun, 19 Apr 2009 23:39:47 +0100 Reply from kayebro /post/267422-i-am-in-a-jam#reply-4955021 Thanks for all the replies, I will look into all your suggestions.
However. unlike most properety today in forclosure with no equity; mine does.
ie. loan amount $285.000
Last Appraisal 9 mounts ago At:575.000
Browered for improvements, which I did ( New Store Window View,Floors, fencing Etc}
Thease guys don’t care because they know they are well positioned.

Thanks Again For Your Suggestions.

]]> kayebro Sun, 19 Apr 2009 22:52:43 +0100 Reply from littlenick /post/267422-i-am-in-a-jam#reply-4954798 ONce they foreclose, what are they going to have? An empty property that nobody can afford to buy at the price they want?

]]> littlenick Sun, 19 Apr 2009 21:03:36 +0100 Reply from Aries /post/267422-i-am-in-a-jam#reply-4954797 I agree with littlenick. Filing BK will, at best, help you reorganize. At worst, it’ll buy you “time” to reorganize … which is often just as valuable. Most people hesitate to file BK because they’re worried about what it will do to their credit report. I would have agreed with that up until about a year ago … but not any longer, given our current economic Depression. The question these days isn’t so much “Who’s filed for BK?” as it is “Who *hasn’t* filed for BK?”.

Best of Luck to you; I emphasize with your situation.

]]> Aries Sun, 19 Apr 2009 21:03:21 +0100 Reply from kayebro /post/267422-i-am-in-a-jam#reply-4954772 I am not a cooperation ( sold proprietorship) and my loan is not with a major institution, but a private lender. 12 days late on payment and the are threatening
with foreclosure.
thank again for any suggestions.

]]> kayebro Sun, 19 Apr 2009 20:53:53 +0100 Reply from littlenick /post/267422-i-am-in-a-jam#reply-4954747 File BK. Chapter 13 so you can reorganize your financial obligations.

]]> littlenick Sun, 19 Apr 2009 20:44:33 +0100