As if things couldn’t get worse, as people are going back to see the charred remnants of their California homes, they will be facing two new challenges.
First, even if their homes have been burned to a crisp, they still owe the full amount on their mortgage loans. They can’t just walk from the deal and let the lender foreclose. They will owe whatever the loan amount was plus any loan penalties and legal costs the bank assesses.
What does that have to do with having a dog? I would investigate bankruptcy protection to at least stall the foreclosure and costs. I don’t know bankruptcy law, but you still must live, and you still must feed your family… and your dog and find a new place to live. But, with your credit destroyed, and possibly your livelihood, you are in for a rough ride. Can you preserve enough income and cash to save your family?
Second… and this one is so repulsive it is hard to even imagine… the next challenge will be… squatters. Yep, these scavengers are about to descend on these vacant lots to claim them as their own. Now you owe on the mortgage loan, and you are either going to be treated as a landlord (and not paid any rent) or NOT the owner. You will be required by law to demolish the remaining structure. Good luck with that if someone is claiming they are a tenant or the rightful owner. I bet in CA you are required to provide alternative housing for tenants after a fire: how would you like to pay a squatter to rent somewhere else? So, you’ll have the law on your tail for not letting them live in the lap of luxury for free. Then, these people are going to loot whatever is left of the remains. And lastly, you might lose your home completely because of the financial and legal mountains you are going to have to climb. What does this have to do with your dog? Once again, you will be financially destroyed if you don’t come up with a strategy. Maybe you should sign a lease with yourself to become your own squatter. Seriously. Ask your attorney how to stake your claim to you own home. Look into any government assistance; hire an attorney; contact your insurers; get identity theft protection. Furthermore, many pets were left behind. You had better get the permission to inspect your property before your pet is dead. I’ve seen a few videos of pets that were still alive, and the last thing you want is for some squatter to release them into that wasteland. Go save your property rights and your dog.
Those are my thoughts for today.
Plan accordingly.
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