Legal Question in Real Estate Law in California
joint venture w mw roth on foreclosure homes
I was approach by united first inc on a foreclosure relief program that will take my case to court and helpme to do not get evicted from my home. To sigh up for the program a $1950 check should be made up payable to united first financial. a second check for $1500 for the first month (and monthly)contribution for tax on property and attorney expenses. if case wont the company will keep 80% and I will get 20%. which the 20% could be use for the down to buy the same property .Or sell the property and I will keep the 20%. this is not a parthnership but a joint venture! anything on that? I want to know because I signed the papers today and I have 3 days to cancell it! I do not want to do anything that will affect me in the future!
2 Answers from Attorneys
Re: joint venture w mw roth on foreclosure homes
You already signed the papers, and only now you are going to consult an attorney? Sounds like a scam to me. I hope you didn't sign a deed to your house and that you have copies of all the documents you signed. If I were you I would send your cancellation letter today, by certified mail return receipt requested. Call an attorney today and make an appointment to have the documents looked at.
Re: joint venture w mw roth on foreclosure homes
To get a better idea of what United First is doing, I visited their website and read through the FAQ they have posted. I must preface my comments with the fact that I have not reviewed anything about their proposal in detail, and what follows are just my opinions and gut reaction based upon a very limited, cursory review of the FAQ on their website. My initial reaction is that I can't understand why anyone would be willing to voluntarily hand over 80% of their home. I have a very large number of questions and areas of concern about transactions like this, but the issues are far too voluminous to cover here. You need independent advice on a transaction like entering into a joint venture with anyone on your home. You also need independent advice regarding their requirement that you retain their attorney, Mr. Roth as it is possible that there is a conflict of interest in his representation. Please contact a local attorney to review this before you do anything.
*Due to the limitations of the LawGuru Forums, The Gibbs Law Firm, APC's (the "Firm") participation in responding to questions posted herein does not constitute legal advice, nor legal representation of the person or entity posting a question. No Attorney/Client relationship is or shall be construed to be created hereby. The information provided is general and requires that the poster obtain specific legal advice from an attorney. The poster shall not rely upon the information provided herein as legal advice nor as the basis for making any decisions of legal consequence.
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