Legal Question in Real Estate Law in California

Hello my name is Osvaldo & I actually went to something similar. I had no option but to sell my home under a short sale but I was never explained that Bank of America would accept some of the funds but would still go against me for the remaining balance. Now that I lost my house I received a phone call from a rep. stating that how would I like to pay the difference & of curse I was on shock to know that Bank of America did not settle and still persecuting me for the remaining balance which is like $120K. I told them I was unemployed at this point, but they said to try to pay them or they were going to get legal action against me with their lawyers. Can someone recommend me a lawyer with a free consultation? I am scared and a friend recommended me to file chapter 7 but it costs around $2,500 and I don�t even have such money. Can someone please help me?

Thank you all.


Asked on 12/19/09, 2:31 pm

2 Answers from Attorneys
George Shers Law Offices of Georges H. Shers

You need to find all the papers dealing with the short sale and see what they say as to the Bank going after you for the balance of the loan. If the loan had solely been used to purchase the house and the Bank and foreclosed, they would be waiving their right to collect anything. So if the Bank tricked you into going through a short sale instead, you might be able to get them to gilve up their claim against you. You should read some of the prior responses on this site a to short sales, deficiencies, etc.

I live in the 94587 zip code so should not be too far away from you. I would be willing to talk to you for up to about 30 minutes wilthout any charge. Call me first to set up a meeting date. 510-441-2684

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Answered on 12/24/09, 8:05 pm
James Obecian law office san diego

BOA often state that if you receive a 1099 regarding the loss of equity then they will waive the balance. However, you need something in writing. This office completes BK paperwork for pro per clients for $ 900.00. I need to review the facts and any documents. Contact me directly at 619 222-3504 or e-mail me at [email protected].

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Answered on 1/21/10, 12:23 pm


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