Legal Question in Real Estate Law in Minnesota
looking for professional advice
Age 76, married, retired.
Own previously lived-in condo, unable to sell after one year in MLS, putting mortgage and association fees on credit cards. Live in Town Home purchased year ago, given low interest terms and low monthly mortgage by mortgage company representitive, at closing, terms were different than promised, but signed closing documents after representitive promised the terms and monthly payment would be adjusted to what was promised. Have writting Mortgage company President asking for his intervention because of Mortgage Servicing arm is making threatening phone calls daily. Mortgage now has gone to a negative balance by 10K greater than original mortgage. Credit cards are exceeding 20K. Need some good professional advise, other than sell the town home (market is too soft, would loose money) Thinking of Bankruptcy and forclosure for Condo that has not sold, Need good advise
2 Answers from Attorneys
Re: looking for professional advice
Probably tough to get a judge to agree that the documents you signed don't mean what they say they mean because you were misled. Not impossible, necessarily, just difficult. A bankruptcy would probably wipe out the credit cards and likely the condo (which I take to be another separate property), althouth there might be some concern about homeowne association dues that come due after the case was filed.
Re: looking for professional advice
Feel free to contact my office or look on my webiste for more information, www.andrewmillerlaw.com. I would be happy to provide an initial consultation.
Disclaimer:The information presented should not be construed to be formal legal advice or the formation of a lawyer/client relationship.
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