Legal Question in Real Estate Law in California

Real estate: Breach of contract

Hi There,

I helped few people (Once considered as friends) from their financial trouble by getting their condo onto my name. During the process, they promised me and agreed to a contract that clearly says that they have to take the condo back to their name in four months. They did not do it so and also neglected to pay half the mortgage amount for that four month duration. The payments of the condo were too high and I missed the payments for few months now. This is seriously hurting my credit score and I am forced to look for my options for short sale else I am forced to go foreclosure. I am looking for someone to help me to resolve this issue and see if there are any ways to force them repurchase the house and make them responsible for my lowering credit score every month.

I lost trust in people and I want to teach them a lesson.

I greatly appreciate any help or suggestions regarding this issue. I will definitely consider working with an attorney regarding this issue.

Thank you.

Best,

Kumar


Asked on 9/28/08, 9:16 pm

2 Answers from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

Re: Real estate: Breach of contract

I would go back to the attorney who you had draw up the contract.

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Answered on 9/28/08, 9:46 pm
Richard Pinette Law Office of Richard Pinette, APLC

Re: Real estate: Breach of contract

You state that per your contract, your former friends agreed to take the condo back in their names in 4 months. You don't indicate whether they are on the loan or just title. Depending on the contract, you may be able to force them to perform; however, in all likelihood it may be too late before the lender forecloses. You may have a breach of contract case if nothing else. I need more details regarding contract and financing. Please feel free to contact me to discuss.

NOTICE: No attorney-client or confidential relationship is created through this communication. The information provided is of a general nature only and does not constitute legal advice or a legal opinion and requires that the poster obtain legal advice from an attorney to protect his or her rights.

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Answered on 9/28/08, 10:17 pm


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