Comments for Ask a Lawyer, David L. Leon, Attorney, Dallas, Texas (214) 696-0021 http://leonlaw.com/askalawyer Frequently asked questions about Texas law from David Leon, Attorney, Dallas, Texas, (214) 696-0021 Thu, 17 Sep 2009 04:45:10 -0700 http://wordpress.org/?v=2.9.1 hourly 1 Comment on I want to abandon my property and walk away from the loan. What should I do? by David Leon http://leonlaw.com/askalawyer/2009/06/17/i-want-to-abandon-my-property-and-walk-away-from-the-loan-what-should-i-do/comment-page-1/#comment-384 David Leon Thu, 17 Sep 2009 04:45:10 +0000 http://leonlaw.com/askalawyer/?p=583#comment-384 I would have to take a look at your documents to be sure. As a general rule, either mortgage can foreclose. However, if the first forecloses on the second, the second lien is wiped out. This means that the second lienholder's only recourse is to sue the borrower. The second lienholder can go after the borrower or a co-signer/guarantor. The time limit is four years from the date of the last activity on the loan. Also, the first lienholder can go after the borrower for a deficiency, if the house doesn't sell for enough at auction to cover the balance due on the note. I would have to take a look at your documents to be sure. As a general rule, either mortgage can foreclose. However, if the first forecloses on the second, the second lien is wiped out. This means that the second lienholder’s only recourse is to sue the borrower. The second lienholder can go after the borrower or a co-signer/guarantor. The time limit is four years from the date of the last activity on the loan. Also, the first lienholder can go after the borrower for a deficiency, if the house doesn’t sell for enough at auction to cover the balance due on the note.

]]> Comment on What is a loan modification? by Heather Mortgage Modification http://leonlaw.com/askalawyer/2009/05/31/what-is-a-loan-modification/comment-page-1/#comment-361 Heather Mortgage Modification Wed, 19 Aug 2009 03:38:10 +0000 http://leonlaw.com/askalawyer/?p=551#comment-361 This is great definition of loan modification. I really wish they would have had these around before my family lost their house when I was in my 20s. I was a pretty traumatic thing to go through. I know it could have saved some of my father's dignity. I hope more people are able to save their homes this way. This is great definition of loan modification. I really wish they would have had these around before my family lost their house when I was in my 20s. I was a pretty traumatic thing to go through. I know it could have saved some of my father’s dignity. I hope more people are able to save their homes this way.

]]> Comment on I want to abandon my property and walk away from the loan. What should I do? by A Grandberry http://leonlaw.com/askalawyer/2009/06/17/i-want-to-abandon-my-property-and-walk-away-from-the-loan-what-should-i-do/comment-page-1/#comment-360 A Grandberry Wed, 19 Aug 2009 03:00:39 +0000 http://leonlaw.com/askalawyer/?p=583#comment-360 My house was foreclosed on in Dec 2007. We had an 80% and 20% loans at closing with same name. The bank foreclosed on the 1st but not the second. They have sold it once, now bought back operation under a new name. I don't understand, nor was it explained to us that they could come after us. What are our options? My house was foreclosed on in Dec 2007. We had an 80% and 20% loans at closing with same name. The bank foreclosed on the 1st but not the second. They have sold it once, now bought back operation under a new name. I don’t understand, nor was it explained to us that they could come after us. What are our options?

]]> Comment on What is a loan modification? by JaneRadriges http://leonlaw.com/askalawyer/2009/05/31/what-is-a-loan-modification/comment-page-1/#comment-152 JaneRadriges Sat, 13 Jun 2009 17:50:26 +0000 http://leonlaw.com/askalawyer/?p=551#comment-152 Hi, gr8 post thanks for posting. Information is useful! Hi, gr8 post thanks for posting. Information is useful!

]]> Comment on Can someone use a medical power of attorney to discontinue life support? by Hayley Dempsey http://leonlaw.com/askalawyer/2007/12/08/can-someone-use-a-medical-power-of-attorney-to-discontinue-life-support/comment-page-1/#comment-151 Hayley Dempsey Sat, 06 Jun 2009 01:51:08 +0000 http://leonlaw.com/askalawyer/?p=33#comment-151 Can a medical power of attorney overide a physician's order regarding discontinuing peg tube feedings, treatments etc when a patient is on hospice Can a medical power of attorney overide a physician’s order regarding discontinuing peg tube feedings, treatments etc when a patient is on hospice

]]> Comment on Is it a crime to overstate your income on a mortgage application? by dlleon http://leonlaw.com/askalawyer/2008/12/21/is-it-a-crime-to-overstate-your-income-on-a-mortgage-application/comment-page-1/#comment-83 dlleon Sat, 03 Jan 2009 21:14:15 +0000 http://leonlaw.com/askalawyer/?p=58#comment-83 The penalties under 32.32(c) are as follows: (1) a Class C misdemeanor if the value of the property or the amount of credit is less than $50; (2) a Class B misdemeanor if the value of the property or the amount of credit is $50 or more but less than $500; (3) a Class A misdemeanor if the value of the property or the amount of credit is $500 or more but less than $1,500; (4) a state jail felony if the value of the property or the amount of credit is $1,500 or more but less than $20,000; (5) a felony of the third degree if the value of the property or the amount of credit is $20,000 or more but less than $100,000; (6) a felony of the second degree if the value of the property or the amount of credit is $100,000 or more but less than $200,000; or (7) a felony of the first degree if the value of the property or the amount of credit is $200,000 or more. The penalties under 32.32(c) are as follows:

(1) a Class C misdemeanor if the value of the property or the amount of credit is less than $50;

(2) a Class B misdemeanor if the value of the property or the amount of credit is $50 or more but less than $500;

(3) a Class A misdemeanor if the value of the property or the amount of credit is $500 or more but less than $1,500;

(4) a state jail felony if the value of the property or the amount of credit is $1,500 or more but less than $20,000;

(5) a felony of the third degree if the value of the property or the amount of credit is $20,000 or more but less than $100,000;

(6) a felony of the second degree if the value of the property or the amount of credit is $100,000 or more but less than $200,000; or

(7) a felony of the first degree if the value of the property or the amount of credit is $200,000 or more.

]]> Comment on What is an FDD? How is it different than a UFOC? by apple bank http://leonlaw.com/askalawyer/2008/02/25/what-is-an-fdd-how-is-it-different-than-a-ufoc/comment-page-1/#comment-46 apple bank Mon, 30 Jun 2008 14:37:01 +0000 http://leonlaw.com/askalawyer/?p=41#comment-46 Nice Site! http://google.com Nice Site!
http://google.com

]]> Comment on I executed a medical power of attorney. Can someone override my decisions? by Erydayunsuppy http://leonlaw.com/askalawyer/2007/12/08/i-executed-a-medical-power-of-attorney-can-someone-override-my-decisions/comment-page-1/#comment-8 Erydayunsuppy Thu, 17 Apr 2008 17:56:44 +0000 http://leonlaw.com/askalawyer/?p=32#comment-8 Great site and excellent reding. Keep it posting!!!! Great site and excellent reding. Keep it posting!!!!

]]> Comment on Can someone use a medical power of attorney to discontinue life support? by Can someone use a medical power of attorney to discontinue life … http://leonlaw.com/askalawyer/2007/12/08/can-someone-use-a-medical-power-of-attorney-to-discontinue-life-support/comment-page-1/#comment-3 Can someone use a medical power of attorney to discontinue life … Thu, 28 Feb 2008 02:26:01 +0000 http://leonlaw.com/askalawyer/?p=33#comment-3 [...] admin always has something good to say. I like this one posted earlier today. Follow the link for the whole thing.No. A medical power of attorney is only used to make medical treatment decisions. To make decisions regarding discontinuation of life support, you would need to execute a living will. [...] [...] admin always has something good to say. I like this one posted earlier today. Follow the link for the whole thing.No. A medical power of attorney is only used to make medical treatment decisions. To make decisions regarding discontinuation of life support, you would need to execute a living will. [...]

]]>