Legal Question in Real Estate Law in California

we are in a modification asking chase for a second for a yr now or more..nov 1st our payment goes up then after that it doubles til 2013 with a balloon payment of 600,000..my mother is sole owner and 83 yrs old..my dad passed after house was remodeled and his loan rep made lots of money on him, he didnt know what he was signing, they created income for him so loan docs are faulse...just wondered if we can get an attorney doing contingency to mediate for us..thanks..


Asked on 8/23/10, 2:23 pm

1 Answer from Attorneys
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

I am probably too far away to do it, but it would have been helpful to say what the property might be worth, in relation to the loan - i.e., is it under water or is there equity? Also, are there other loans on the property? I assume this was a refinance, since you mention a loan rep and remodeling. The reason for asking is that a reverse mortgage might be a possibility.

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Answered on 8/28/10, 3:28 pm


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