Legal Question in Real Estate Law in Illinois

Re: Conflict of intrest/ lien

It's very difficult to get a feeling for all of the material facts of your issue b/c I would have to take a look at the loan documents, etc.

From what you say, however, it sounds as if the lawyer was acting under a conflict of interest.

Feel free to contact me if you would like to provide more details.

-- Kenneth J. Ashman; www.AshmanLawOffices.com; [email protected]

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Re: Conflict of intrest/ lien

The most serious issue is that you are being threatened with foreclosure, and you must take action to defend your rights. I recommend that you obtain legal counsel immediately before you sign anything else with the seller or the seller's attorney. You have certain rights in foreclosure, and to redeem the property, which you can pursue instead of signing a new note. You can also attempt to refinance, as the current noteholder is entitled to no more than money at this point. once you have refinanced, you can then sue both the seller and the attorney for any cause of action you may have.

I can't advise you on whether additional charges for interest and attorney's fees are appropriate without reviewing the documents and obtaining further facts about the initial transaction. You should give a copy of all of the documents to your lawyer, when you hire one.

Finally you have a malpractice law suit against an attorney representing both sides of a real etate sale. If that was the case, you have a much stronger suit against the attorney than the seller. And, you may consider a complaint against the lawyer in the admisitrative area. Before you proceed, however, you should be sure to consult another lawyer representing only you to confirm which course of action is most appropriate in the circumstances, and in what order will give you the best results at the least cost in enforcing your rights.

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Re: Conflict of intrest/ lien

Is this a conflict of interest? There does seem to be one on the face of your descriptions. Is this contract still legal? The contract you signed sounds to be legal. We have now been forced to sign a new note to pay for the fees and interest. You cannot be forced to do anything.

Here is the thing: FIRST, get your paperwork to an attorney - it sounds like the seller has realized he got a bad deal and is now trying to fix the problem. An attorney can tell you whether that is the case for sure. SECOND, it does sound like the attorney has a conflict of interest. This can also be determined by an attorney. THIRD - if you are making your payments on time according to the contract that both parties signed then it does not sound like they have a basis for foreclosing.

This all sounds like a shady deal. You need to see an attorney before you get in over your heads here.