what if i stopped paying mortgage and hired an attorney

If your landlord is not paying the mortgage and you find yourself in a helpless or concerned position you may want legal counsel. Reach out to an attorney who specializes in foreclosure proceedings. This attorney may be able to guide you in the direction of next steps.

Full Answer

What happens if my husband stops paying the mortgage?

You both verbally agree he will maintain the mortgage payments. But whether out of malice or financial struggle, he stops making those payments. The result is the same as if you were both living there. The bank will send notices to that address and begin reaching out to you about loan payments.

What happens if I owe money to a previous lawyer?

If you owe money to the previous lawyer for expenses, they have the right to claim payment for those funds if they’re not being disputed. Pay off your balance immediately because the lawyer could hold your case files until they receive payment.

What happens if my partner misses a mortgage payment?

If your partner missed only one payment, things would continue with a late fee added to the next bill. If your partner opts for the loan modification, the lender can add late or missed payments and any fees to the total loan. In a short sale, he/she will sell the house for less than they owe.

What if my attorney is not doing his or her job?

As a legal client, you have rights and your attorney owes you a duty of care. If you believe that your attorney is not doing his or her job or if you have issues with your lawyer, you need to speak to our law firm immediately.

What happens if someone stops making payments on their mortgage?

Typically, after around three months of missed payments, foreclosure proceedings will officially begin. Your lender will file what's known as a “notice of default” at your county recorder's office. This period can last anywhere from 30-120 days, depending on who is in charge of servicing your loan.

How long after stopping paying mortgage will they foreclose?

If you're behind in mortgage payments, you might be wondering how soon a foreclosure will start. Under federal law, in most cases, a mortgage servicer can't start a foreclosure until a homeowner is more than 120 days overdue on payments.

What are the three things that are investigated before the mortgage is approved?

Before lenders decide to pre-approve you for a mortgage, they will look at several key factors: Debt-to-income (DTI) ratio. Loan-to-value (LTV) ratio. Credit history.

Can a mortgage be dismissed?

Not all cases are dismissed because the lender failed to do something or didn't file their complaint properly. In some cases, the lender wishes to dismiss the case. They may have found an issue with the complaint and want to correct it before the issue is exposed.

Do banks want to foreclose?

Most often, a bank chooses to foreclose because the homeowner has stopped making monthly payments. They might also foreclose if the homeowner transfers the property to a different owner without the bank's permission or the homeowner isn't paying for property insurance.

How long does it take to repossess a house?

How long does the repossession process take? With the various steps that lenders need to follow to apply for a repossession order, the whole process can take up to 9 months. This can differ case to case, but in general, it's quite a slow process.

Does a pre approval hurt your credit?

Inquiries for pre-approved offers do not affect your credit score unless you follow through and apply for the credit. If you read the fine print on the offer, you'll find it's not really "pre-approved." Anyone who receives an offer still must fill out an application before being granted credit.

Can you get denied after pre approval?

You can certainly be denied for a mortgage loan after being pre-approved for it. The main difference between pre-qualification and pre-approval has to do with the level of scrutiny -- not the level of certainty. When a lender pre-qualifies you for a loan, they just take a quick look at your financial situation.

How long is final underwriting?

Mortgage lenders have different 'turn times' — the time it takes from your loan being submitted for underwriting review to the final decision. The full mortgage loan process often takes between 30 and 45 days from underwriting to closing.

What does foreclosure discontinued mean on credit report?

A foreclosure that's accurately reported will be removed from your credit reports no later than seven years from its DoFD. This deletion process will kick in automatically at the credit bureaus and do not require a reminder.

Can I take my ex back to court?

Since your divorce judgment states that your ex is to pay the mortgage, you can take him back to court on a Petition for Rule to Show Cause. It would also be a good idea for you to hire an attorney to do this.

Can a mortgage company hold you harmless?

It will pursue both of you for payment, and possibly payment of a deficiency judgment, which could be tens of thousands of dollars or more, after a foreclosure. His "hold harmless" is only as good as his financial ability to honor it. Your former husband may have good options, e.g., loan modification, deed in lieu...

What happens if you don't pay your mortgage?

If one party does not pay their share of the mortgage, this will have an effect on their credit ranking and they may not be offered credit in the future.

What happens to a mortgage after separating?

Lots of couples take out a joint mortgage when they buy a property and so what happens to a mortgage after separating? For couples, a joint mortgage means you are both seen as single owners and have equal rights in the property. However, one important aspect of a joint mortgage is that everyone named on the mortgage is responsible for making repayments. Or in other words, you’re both jointly and severally liable. Therefore, even if they are not living in the house, arrears on the account will have a detrimental effect on both parties. If one party does not pay their share of the mortgage, this will have an effect on their credit ranking and they may not be offered credit in the future.

What happens if you are facing repossession?

If you are facing repossession. If your mortgage has fallen into serious arrears and you have exhausted all avenues, you may find that your property is facing repossession. In this situation, it can be best to sell your property.

Can I sell my ex's house?

If the answer is no, you will need to think about selling your home. If the answer is yes, you should discuss buying your ex’s share in the property – this is often referred to as ‘buying them out’. However, this will only be achievable if you can get the funds together.

Do I have to pay off my mortgage before the term is up?

You will need to pay off your mortgage using the money from the sale of your house. It is worth remembering that this may incur a fee for exiting before the mortgage term is up. Leftover funds will be split between you and your ex and are often decided upon during divorce proceedings.

How to get a mortgage if you move out?

First, get it in writing. While many couples verbally agree on a payment plan once one moves out, it’s best to create an agreement in writing . Next, encourage your partner to refinance the house, removing your name from the mortgage.

What to do if your spouse is not paying your bills?

If you do not have such agreements and you’re concerned about your partner not paying the bills, you can get a temporary order from the court indicating he is responsible for the payments or ordering him to refinance. These orders are hard to enforce.

How long does it take to get a foreclosure notice?

The problem is that you may not hear about it because they will be mailed to the home address. Mortgage servicers must send written notice before the bill is 45 days delinquent. That notice will include information on all available foreclosure avoidance options, such as a loan modification or a short sale.

What happens if my partner misses a payment on a short sale?

If your partner missed only one payment, things would continue with a late fee added to the next bill. If your partner opts for the loan modification, the lender can add late or missed payments and any fees to the total loan. In a short sale, he/she will sell the house for less than they owe.

Can a divorce decree change a mortgage?

To separate a mortgage, he/she will have to refinance. (Please note that a divorce decree does not automatically change a mortgage, which is a separate contract you and your spouse signed.)

Do late payments appear on credit reports?

If both of your names are on the loan, you are both responsible for the payments. Late payments or missed payments will appear on both your credit reports.

Can you split your house from your spouse?

Splitting from your spouse legally and financially requires several steps, especially if you own a house. Many couples choose to sell the house; often one partner cannot carry the burden of mortgage payments on his or her own. Selling also makes it easier to split any equity or manage any debt. However, in some cases, one partner will choose ...

What happens if you refuse to pay your ex partner's mortgage?

Refusing to pay the mortgage will severely impact your ex-partner’s credit file as well as yours. You will both go into arrears, meaning it will be harder for you to secure a mortgage or any other form of credit in the future.

What happens if my ex partner declines a transfer of equity?

If your request for a transfer of equity is declined, it will probably be down to an affordability issue. The lender will need to know that your income is sufficient to keep up with the full mortgage payments without ...

Can my ex husband refuse to pay mortgage payments?

Unfortunately, it’s not uncommon for a partner to refuse to maintain mortgage payments when they have moved out of the home. The good news is that your ex-husband or wife cannot walk away from a mortgage commitment – if they attempt to, they will be met with some heavy consequences. The first thing you need to do is to inform your lender ...

Is my ex partner still required to pay the mortgage?

Is my ex-partner still required to pay the mortgage? You and your partner are equally liable for the mortgage. This is true even if the loan was based on one party’s income or if one of you moves out of the property. Your lender has the right to pursue both parties either jointly or individually for payments.

Can a lender reduce your monthly payments?

Lenders are known to show leniency in some cases if they are kept updated. Some lenders may even be open to reducing your monthly payments by extending the mortgage term or converting to an interest-only mortgage.

What happens if you meet with a lawyer?

If you have a meeting with your lawyer, there’s a good chance you took time off from work, secured childcare, or had other obligations that you changed or gave up in order to be at the meeting. Your lawyer shouldn’t waste your time, be unprepared, or mishandle your funds or documents.

Why is my lawyer not returning my calls?

Reason #1: Your lawyer isn’t returning your calls. Lack of communication is a big problem for some law firm clients. Yes, legal practices are very busy. They have lots of clients — not just you. However, before a lawyer signs on to take your case, they need to know if the firm has the capacity to handle it. There’s no excuse for not returning phone ...

Why is malpractice considered a legal malpractice?

Malpractice could be intentional or by accident. If your lawyer has done anything that has cost you the ability to win or settle your case, or that had a detrimental effect on your proceeding, it could be considered malpractice.

What happens if you file a motion for substitution of counsel?

If your case is already filed within the court system, you (or your new attorney) will need to file notice with the court that you are now represented by new counsel. Your new attorney will file a “motion for substitution of counsel” and your old attorney will file a motion to withdraw.

Why do I have to pay off my personal injury case?

Pay off your balance immediately because the lawyer could hold your case files until they receive payment. If you know your lawyer isn’t working for you, but you don’t have a second lawyer yet, please feel free to use the Enjuris Personal Injury Law Firm Directory to find a lawyer near you who can take your case.

Why do I retain legal counsel?

Reason #4: You disagree with your lawyer’s advice. You retain legal counsel because you need advice. However, the lawyer should still take your wishes into consideration. The lawyer could be pressuring you to accept a settlement that you think is too low to cover your costs after an accident.

How to terminate a contract?

Hire a new lawyer first, and then fire the old one. Write a termination letter. Any time you modify or terminate a contract, it must be in writing.

What to do if you have paid a lot of money for divorce?

You should first ask the attorney for an accurate accounting of time spent on the divorce for money paid. You may also seek the assistance of the court/judge of you feel your attorney has overcharged or billed you for this matter/representation.

What to do if you have paid $30,000 in 3 months?

If you have paid $30,000 in three months and nothing has been done, you should speak with the attorney and seek the advise of another attorney. F

What happens after a motion to withdraw is heard?

After the hearing on his motion, the judge will make a determination of denying his motion to withdraw, granting his motion to withdraw, or granting the motion to withdraw only after substitute counsel has been found, or if you consent to proceed pro se.

Can a judge order an attorney to remain on the case?

There is no chance that the Judge will order the attorney to remain on the case. If you have incurred $30,000 in 3 months and nothing has been accomplished, why would you want to remain with that attorney anyway? You would just have to continue to pay him money. If the other side has funds from which you can pay attorney's fees, then perhaps a change of attorney and a request for attorney's fees from the other side is appropriate.

Is a lawyer an indentured servant?

However, a lawyer is not an indentured servant and a court will not force your lawyer to work for free because you don't have money. Report Abuse. Report Abuse. Please explain why you are flagging this content: * This will flag comments for moderators to take action. 0 out of 500 characters. * Please enter the explanation.

Can a lawyer withdraw as counsel?

In all likelihood, if the lawyer request that he withdraw as counsel and asserts valid grounds, the lawyer's request will be granted. The judge may order the attorney to represent you at a certain hearing or trial if the attorney's withdraw would jeopardize your case. Report Abuse. Report Abuse.

Can a judge order a lawyer to continue working on a case without compensation?

The judge will not order the lawyer to continue working on the case without compensation (you wouldn't continue to go to work each day if you weren't getting paid and neither will your lawyer); however, you may want to carefully review your invoices to determine how your attorney used $30,000 in such a short time.

What to do if you cannot get your attorney to work with you?

If you cannot get them to work with you then you will have to talk to another attorney. You current attorney should give you your file. Whether you are entitled to any money back will depend on the agreement you have with your attorney and how much work they have actually done... 0 found this answer helpful.

Can I fire my lawyer?

You certainly have a right to fire your lawyer if you are unhappy with his services; however, it's always best to try to work things out first and seek a resolution to the issues. If you terminate representation, you have a right to have your file promptly returned to you and a refund of any unearned portion of fees already paid refunded. If there is a dispute as to the fee, the State Bar has a fee dispute resolution...