Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips


Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Topic Options
#217866 - 04/07/08 01:13 PM I need help!!!! =(
Lost Offline
Junior Member

Registered: 04/07/08
Posts: 6
Loc: usa
Ok...I'm going to try to make this short.
I have a power of attorney for a relative who no longer lives in this country due to health issues.
She owns a house here which is still for sale. Actually, waiting to be approved for a short sale.
Here's what I don't understand, she was told that she didn't need to pay any of her bills before she left because the realtor was going to put of all of her debts in the short sale process, which would then take care of it and pay all her debts.
Is that true?
It's been a couple of months already, and the bills just keep coming. Almost of her bills have gone to collection agencies, and of course, they call me like 16 times a day.
I don't know what to do, should she start paying her bills?
Can a short sale take care of debts like that?

Please help me!, or Us

Top
#217870 - 04/07/08 01:28 PM Re: I need help!!!! =( [Re: Lost]
Perky_REALTOR Global Moderator Offline
Major Contributor

Registered: 11/27/06
Posts: 3871
Loc: Northeast PA
Hmmm.

I'm thinking this is best answered by an attorney.

Doesn't sound right to me.

Top
#217886 - 04/07/08 02:29 PM Re: I need help!!!! =( [Re: Perky_REALTOR]
jjohnson1985 Offline
Member

Registered: 03/13/08
Posts: 101
Loc: Ohio
I'm not experienced in short sales really, but I don't see how. Like Perky said you may want to ask an attorney.
_________________________
_______________________________________
I am not licensed. I'm just the average Joe.

Top
#217893 - 04/07/08 03:02 PM Re: I need help!!!! =( [Re: jjohnson1985]
Bubba Offline
Member

Registered: 02/19/08
Posts: 34
Loc: Nevada
I am not an attorney but from the experiences I have had in short sales the bank is only concerned with the house. The other bills are not invlolved with this and maybe he told her this as he is figuring she is going to file bankruptcy. Call an attorney.

Top
#217947 - 04/07/08 07:45 PM Re: I need help!!!! =( [Re: Bubba]
Lost Offline
Junior Member

Registered: 04/07/08
Posts: 6
Loc: usa
Thank you for your response.
After being on the phone, the internet trying to make calls , etc to see if this is doable, I finally had an attorney tell me the realtor was probably high..lol(he didn't really use those words..lol) when she said this was possible.
Now, all this did was hurt or may I say Destroy her credit, all of the bills have now gone to collection agencies, and I'm completely lost.

Thank you

Top
#218064 - 04/08/08 09:46 AM Re: I need help!!!! =( [Re: Lost]
Indy Broker Offline
Member

Registered: 11/11/04
Posts: 126
Loc: Central Indiana
 Originally Posted By: Lost
Ok...I'm going to try to make this short.
I have a power of attorney for a relative who no longer lives in this country due to health issues.
She owns a house here which is still for sale. Actually, waiting to be approved for a short sale.
Here's what I don't understand, she was told that she didn't need to pay any of her bills before she left because the realtor was going to put of all of her debts in the short sale process, which would then take care of it and pay all her debts.
Is that true?
It's been a couple of months already, and the bills just keep coming. Almost of her bills have gone to collection agencies, and of course, they call me like 16 times a day.
I don't know what to do, should she start paying her bills?
Can a short sale take care of debts like that?

Please help me!, or Us


This does sound like an agent practicing law ! Yes I would consult an attorney immediately.
_________________________
Bettina Settles
Managing Broker
www.BettinaSettlesRealty.com
www.ireiba.com
www.Titaniuminc.com

Top
#218083 - 04/08/08 10:34 AM Re: I need help!!!! =( [Re: Lost]
Devil's Advocate Offline
Member

Registered: 01/03/05
Posts: 253
Loc: Ontario, Canada
Ask Your Lawyer: to explain the effect of one or more creditors filing a "Lis Pendens" on the property, i.e. a notice of pending litigation.

A "Lis Pendens" is a notice filed on public records for the purpose of warning that the title to certain property is in litigation and that they are in danger of being bound by an adverse judgment.

Since a buyer's offer would most likely stipulate that the property be free and clear of all leins and encumbrances and, if not, would permit the buyer to withdraw or postpone the purchase of the property until such time as all leins and encumbrances had been discharged.

Important Notice: This information is provided as basic educational information by the author and is not a substitute for the advice of an expert and/or the advice of a lawyer. There is NO representation as to legality, accuracy, correctness of the herein information and the reader is strongly urged to consult a lawyer in the relevant jurisdiction to ensure accuracy before acting on this information .

Top
#219210 - 04/12/08 07:51 PM Re: I need help!!!! =( [Re: Devil's Advocate]
Codythebest Offline
Member

Registered: 10/12/07
Posts: 121
Loc: TN
A short sale, it's the bank. And at the bank, they couldn't care less about the bills...

Top
#219225 - 04/12/08 09:43 PM Re: I need help!!!! =( [Re: Lost]
shana Offline
Member

Registered: 11/06/07
Posts: 275
Loc: Nevada
 Originally Posted By: Lost
Ok...I'm going to try to make this short.
I have a power of attorney for a relative who no longer lives in this country due to health issues.
She owns a house here which is still for sale. Actually, waiting to be approved for a short sale.
Here's what I don't understand, she was told that she didn't need to pay any of her bills before she left because the realtor was going to put of all of her debts in the short sale process, which would then take care of it and pay all her debts.Is that true? It's been a couple of months already, and the bills just keep coming. Almost of her bills have gone to collection agencies, and of course, they call me like 16 times a day.
I don't know what to do, should she start paying her bills?
Can a short sale take care of debts like that?

Please help me!, or Us


sounds like there were a few things you didn't understand.

why did you wait this long to get such important information? you should have consulted an attorney immediately. did anyone explain to you what a short sale is? it means NO EQUITY, NO MONEY back to the seller...so where is the money that is going to allegedly pay the seller's bills? it just doesn't make sense.

Top
#230015 - 06/01/08 06:46 AM Re: I need help!!!! =( [Re: shana]
Jesse100 Offline
Junior Member

Registered: 04/20/08
Posts: 8
Loc: NH
Don't walk to get an Attorneys advice RUN. Sounds like you (relative) may of been scammed.

Top
#230251 - 06/02/08 01:06 PM Re: I need help!!!! =( [Re: Jesse100]
UpstartAgent Offline
Member

Registered: 07/29/07
Posts: 75
Loc: US
Definitely one for an attorney...you may want to research if there was a consolidation loan involved (or if one was supposed to be involved?)
_________________________
Upstart Agent: Real Estate Marketing Blog:

Top


Moderator:  Jim Erickson, Jim Lee 
Newest Members
blue4197, DaddyAdd, robmiller, Delta T, kath
12356 Registered Users
Who's Online
10 registered (cowie, I_sell_so_I_can_golf, MontyC21, RAH, Realsys, REO Agent NJ), 30 Guests and 7 Spiders online.
Key: Admin, Global Mod, Mod
Search

Shout Box

Good Ideas
Nusetlock.com




Energized Seller




Realtor Websites




Sponsors


Real Estate Careers, Find Houses For Sale, Get Certified. Improve your BPO business., How To Advertise Here


This site presented by RNC Internet Services