Posts Tagged ‘foreclosure’
Mortgage Lender Generally has the Right to Either Foreclose or Sue
Question: We bought forty acres of land in Coconino County five years ago for $200,000. We made a $20,000 cash down payment, and the seller did seller carryback financing of $180,000, plus ten percent interest, all due in five years. Although the forty acres of land in Coconino County was to be part of a…
Read MoreHOA Can Foreclose on Home for Unpaid Dues
Question: Our mother has been struggling with dementia that has worsened over the last year. We recently moved her from her Mesa home to an assisted living facility in Gilbert. The Mesa home is both a physical disaster (with numerous repairs necessary) and an HOA paperwork disaster. The HOA dues total more than $3,000, and…
Read MorePartial Payment Doesn’t Cancel Foreclosure
Question: After our parents passed away two years ago, my sister and I became the owners of their home in Sunnyslope worth $280,000. My sister wanted to live in the home, so I deeded the home to her in exchange for her giving me a five-year $140,000 mortgage on the home. In addition to the…
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