Legal Question in Real Estate Law in North Carolina

We purchased a home in 2006. It was under a land sales contract. Back in June the company that has the deed and title said that they would redo the financing for 5 years at a cheaper interest rate and then if we intend to keep the property then we would have to come up with a balloon payment. Well, the other day they said that they never received the new payment agreement and that we were behind on our payments. They sent me another agreement and this time I faxed it to them. Now they are saying that the contract is stale dated? What exactly does that mean?


Asked on 11/13/13, 2:55 pm

1 Answer from Attorneys
Kenneth Love Ken Love Law

It means you are stuck in a terrible land installment sales agreement. I HATE these agreements because 99.9% of them go bad. I have a feeling you are even dealing with one of those shady out of state companies.

Go see a real estate attorney for assistance with what your agreement says and all of the provisions in it I am sure are illegal under NC law.

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Answered on 11/14/13, 4:40 am


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