Legal Question in Real Estate Law in California
promissary note question
10/06 when very ill from a stroke a lender arranged a private note, i could not understand except that we were to get $, i just received a copy of the note 6/13 faxed from the private lender i did not know who she was until now. thenote is for $35,000 and we received $17,000 only half. also it was altered and this notary was not present. she wants to foreclose on the note and deed. i owe her $17,000. this note should be voided? and a new one for $17,000 tht is all we received? notes and contracts signed under illness are voidable? this lender does alot of business i just found out with this private lender. so i think they are both in kahoots. i need help i am still home on disability..--help
2 Answers from Attorneys
Re: promissary note question
Boy, I sure hope Mr. Berger or someone can jump in and help you. If you were incapable of understanding what you were signing, that alone would be enough to have the deal declared void, but I have also heard other tales of loan documents being "raised" as to amount borrowed by criminal rings that include so-called lenders, appraisers, notaries, and in-house escrow companies. This may be organized crime at work, or more likely some local petty crooks, but it is way too common.
Re: promissary note question
From what you've written, it seems you may be the victim of illegal practices. However, I would need to see the note and discuss with you further. Please fax the note to my attention and/or call me if you would like to discuss.
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