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Judy Said:

Bought home in October, Made all payments, then a foreclosure auction notice found on door for previous owner!

We Answered:

If you had a lawyer call him/her. If not, call the closing agent who issued the title policy. It is most likely that the collection agency was left out of the loop when the mortgage or lien was paid off at the time of sale. Meanwhile look at your closing statement - the "HUD-1." On the first page, right side under "reductions of amount due seller, "there should be an entry showing payment of this very same lien at the time of sale. If so, call the collection agency & tell them the lien was paid off about the time you closed. If it DOESN'T show such a payment, then its time to get concerned. Then read your title policy. If it contains an exception of this lien, you've got a real concern. If not, they should defend & protect you from it.

Wendy Said:

Car Insurance Cost in NYC?

We Answered:

Get a quote online - they'll give you rough estimates.
Given that you're under 30, and had this history will likely increase it.
But, everything is cleared from your Insurance "record" except the last 36 months.
So, if you have had the license for less than 36 months from your suspension, you're basically going to be treated as a "beginner" because the record indicates suspension.

The other problem is that NYC counties are just too expensive to insure.
My guess - a 2000-1 sedan in NYC would cost you about $$750 - 850/every six months.

Sheila Said:

ok, what's the deal with these dwelling insurance policies and phony benefits?

We Answered:

Ok. Let's start at the beginning.

You probably can't buy a policy for a two week or four week term. You probably have to buy at least three months at a time. You can cancel, and get a refund, when you move in and it's not tenant occupied (or vacant) any more.

DP1 is a standard policy form, covering basic perils - fire, lightening, explosion. The standard DP1 does NOT cover vandalism. You can try to add that on extra. If it's not listed as covered, it's not covered, on a DP1 form. ALSO, you can ask the agent who gave you the quote, exactly WHAT is covered. They should give you a written list. Tenant occupied, means the owner doesn't live there, but someone else does - it's not vacant. Protection class, is a number assigned to show, among other things, how far the house is from a fire hydrant. PC2 is GOOD.

Just because the tenant isn't paying you rent, doesn't mean they aren't a tenant. Anyone besides an owner, living in the house, is a tenant. This is correct. The prior owner, still living in YOUR house, is a tenant.

I'm not quite sure why the 2nd agent said no one would cover this house. I'd say they're wrong. I would also say, 1st agent was wrong when they said you'd get paid $10K on a $10K claim - Foremost writes houses on "functional replacement cost" and 80% coinsurance. Feel free to email me with the reason WHY the second agent said no one would write this. Was it the LIMIT?


You could go to Lloyds of London through an independent agent, and get flat coverage. HOWEVER. Flat coverage is much, much more expensive. SO. If you want it YOUR way, $38,000 of flat coverage - you CAN get it, with a local agent. It will probably cost you about $3,000 a year, with a $1,000 deductible, 50% minimum earned premium (they keep the first $1500 NO MATTER HOW SOON YOU CANCEL). OR, you can get a Foremost policy for 80% of the market value, NOT THE ASSESSED VALUE, and pay $2600 or so, with a pro rata refund.

And, someone being killed in a fire, isn't covered under these policies.

Brandon Said:

Please help..question on car finance?

We Answered:

There are a number of inconsistencies in your story. A bank would not call you in a foreign country and tell you that they are not owed anything anymore, when you know there IS a balance owing based on the contract terms. Banks do everything only in writing. How would they even get your boyfriend's phone number?

After a bank is not paid for about 6 months, they will have to write off the account in accordance with banking regulations. At that stage they generally refer that account to collections, be it their own department or an outside agency, that explains that February letter. Note also, he get a letter not a phone call.

Yes he can opt to quit paying after only half his contract payments are made (or anytime for that matter), but that is not a relief granted by law, but his voluntary option to DEFAULT. The consequences are that your credit rating takes a hit and he still owes the money till the Statute of Limitations extinguishes it, probably 4 years from his last payment. But that still does not fix his credit rating problem, which may report that unpaid default for as long as 7-10 years.

Vandalism to a car that is legall

Charlie Said:

if the car is park with no registration and not driveable get more attention?

We Answered:

if it had no insurance (whether it was driveable or not) and was parked on PUBLIC property it was parked illegally so they were well within their rights to tow it