My husband and I sold some land to my cousin at the end of Nov. 2004. We did is as owner fiancing with a 1% interest rate. The first payment was due in Dec 04, we call and they said they would have it to us the next week. Well, need less to say we called them in January and she said she would bring me the money the next day. February we called again and she said they would have a 1 lump some for us the next week. 6 days later we got a letter from a lawyer saying to quit harrassing their clints as they did not own us any $. Well, we did have legal papers drawn up and promisary notes. They did give us a down payment that was enought to get it relesed from the bank and that was all. Now the house got forclosed on and sold to the highest bidder on the court house steps. The company that bought it is the sister compnay to the company that financed and built it now we are meeting with this company, b/c they didnt let us know they were selling. so do you think we get some money tom?
2007-07-23 10:57:00 · 4 answers · asked by Mommyof2boys 3 in Politics & Government ➔ Law & Ethics
We ened up having the 2nd lien on the land b/c the people that they built the house for them forged papers and back dated them for the beginign of Oct 04 but we did not sell the land till Nov 04 thats how the morgage co. got 1st lein on it and they did not notify us that it was being forclosed on so that we could be their to collect our money as well and the company knew that this particular land was being delt with in court already b/c of non payment. But we are meeting with the companys lawyers tomorrow I was wondering if you think they will try and pay us off tomorrow???? So that we don't have to gove any futher will legal actions??? My question is do you think that they will make us an offer, cause they already admitted to the judge and our lawyer that they screwed up so what do you make of it????
2007-07-23 11:20:21 · update #1
You need to have a lawyer to protect your interests.
Disclaimer ... I am not a lawyer. I am merely a person who has had a life with wide ranging experiences. Sometimes we can deal with civilized human beings and come to an aimicable resolution of differences, but sometimes when there are people out there who totally disregard our well being, we need to reply somewhat in kind.
There are people, and companies, with predatory practices. They get away with these practices when their victims do not stand up for their rights. The company may have deeper financial pockets than yours, and some persons within it might think that they can out last you, that you will run out of funds at some point for your lawyer expenses and give up the fight.
Well be sure to ask you lawyer to go after the predators for your costs to be reimbursed by them if you ever win the court battles.
It is most critical to have paperwork to prove your assertions, to avoid condition of
* he said she said
* possession is 9/10 of the law
Ask that lawyer to file papers to have the property repossessed to your ownership since
(a) you have proof that $ was owed by the inlaws
(b) the court got testimoney there was forgery
The lawyer who wrote the "quit harrassing letter" should get from your lawyer a copy of the proof that $ was owed by the cousins, and a copy of the repossession papers, that got initiated because of the refusal to pay the legitimate devt
Then as soon as the property is back in your hands, your lawyer get the sheriff to evict the cousins
At this point, a financial statement to be issued.
What was the total $ you were supposed to get from the cousin for the property, minus what they paid as down payment, plus the extra costs you incurred because of the forgery and the foreclosure, so you end up with whether or not you owe the cousins anything, or if they still owe you.
I mean this is like having car payments, you miss payments, the bank reposesses the car, sells it at auction, and either the bank has all their money back, or they go after the dead beat to get back the difference between what the auction netted and the loan that was never paid off.
Depending on the total values involved, you probably need another mortgage on the property ... try to get some outfit other than the sister companies.
Forget about family harmony, those dead beats will hate you for rest of their lives.
2007-07-23 14:17:30 · answer #1 · answered by Anonymous · 1⤊ 0⤋
They equipment sucks. exact now you have no longer have been given any rights, yet you are able to attempt and alter that. you are able to arise with the youngster help branch on your state and notice what you're able to do. this is advisable to get a criminal expert. Your daughter will finally get pissed off at her mom for no longer letting her pass to you. Does she shop it touch with you? Does she want to work out you? as quickly as she hits sixteen, she would be a handful and if she desires to work out you she'll make mommy's existence depressing. For now be a dad, hear and check along with her. do no longer diss her mom too lots, it;s nonetheless mom. Are you paying newborn help or sending money for her expenditures?
2016-10-22 11:23:39 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The registered owner should have gotten a notice of foreclosure from the mortgage holder.
But regardless of the foreclosure, your cousin owes you the purchase price, and you can sue them -- but unless you registered a lien on the sale (depending on state laws) the mortgage company still has priority to recover their balance.
2007-07-23 11:08:04 · answer #3 · answered by coragryph 7 · 1⤊ 1⤋
HUH????
2007-07-23 11:07:42 · answer #4 · answered by A hardworking American 2 · 0⤊ 0⤋