Birthday:
December 21
"Let me add one more comment vis a vis the short sale aspect of all this. Keep in mind that even a short sale doesn't necessarily release the seller of all monetary obligations on the mortgage. It only releases the security for the debt by removing…"
"SraM: I haven't personally seen the situation you describe, but Bankruptcy does not discharge liens on property. Therefore, after the bankruptcy discharge, the 2nd lien (as well as the first) remains on the property and, therefore, if a short sale…"
"SraM: Yes, in most cases the 1st lienholder throws some kind of bone to the 2nd lienholder in a short sale. The 2nd lien needs to be removed or the short sale will fail. Therefore, it's somewhat in the 1st lienholder's interest to offer a payoff…"
"I don't want to be a buzzkill here, but in most states you only have a few months in which to file a mechanics' lien after not being paid. Your window of opportunity for filing the lien may have already passed you by. That doesn't mean you're…"
"Additionally, once the bankruptcy is discharged (in a Ch. 7) or once the reorg plan is approved by the court (in a Ch. 13), the bank can once again pursue enforcement of its lien (i.e., the mortgage) on the house via foreclosure. So you're mostly…"
