Legal Question in Real Estate Law in California

Breach of contract

Approximately 13 years ago we purchased land to build a house on from a ''friend'' that carried the note. It was a written contract specifying it was to be a 30 year note at 8% per anum with a payment in the amount of 1550.00 per month. The seller later provided us with scraps of paper indicating he had dropped the interest rate as low as 6.3% in some instances and recently a print out indicating it was 7.5%. At 8% per anum we were overpaying approximately $46.00 per month and at 7.5% per anum we were overpaying as much as $115.oo per month. We appear to have overpaid a considerable amount that he has failed to apply to the principle. The seller clearly has violated the terms of our contract, what legal action can be pursued?


Asked on 7/27/04, 7:32 pm

2 Answers from Attorneys

Christopher M. Brainard, Esq. C. M. Brainard & Associates - (310) 266-4115

Re: Breach of contract

Wait, the contract was for 8%? I need some clarification of facts. You may contact me.

Read more
Answered on 7/28/04, 11:25 pm
Larry Rothman Larry Rothman & Associates

Re: Breach of contract

Please contact my office at 714 363 0220 to set up an appointment. I would like to review your written documentation including any letters. We handle cases throughout California. We can review your documentation by fax and speak with you by phone.

Read more
Answered on 7/31/04, 2:27 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in California