Legal Question in Real Estate Law in California

I bought a house from my now ex inlaws which has a 175,000 balloon payment due this april. I tried to re negociate with them because all the value is now gone and if it went into forclosure they would not get anything. However, they said they were in first position and would get there money. I found out that when I refinaced two years ago that the escrow company failed to disclose the second and failed to subordinate the balloon. Do I have any rights to try and keep the property?


Asked on 1/19/10, 4:16 pm

1 Answer from Attorneys
Terry A. Nelson Nelson & Lawless

Of course you have a 'right' to TRY. You should consult with a local Real Estate specialist attorney to see if there are grounds for legal action against the sellers, escrow, title company, etc., or any defenses to a foreclosure. He will need ALL the facts and docs to understand the situation. If your can't find someone there, feel free to contact me.

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Answered on 1/25/10, 10:40 am


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