Legal Question in Real Estate Law in Texas

I purchased raw land in a development and make payments but am on a fixed income, recently the balloon notice went into affect. The company that owns the land has filed bankruptcy and they are trying to kick present owners out to rejuvenate the area (a housing development/golfing area). Am I still obligated to continue paying the balloon notice or can my payment be renegotiated to within my means?


Asked on 3/03/10, 12:54 pm

1 Answer from Attorneys
Nicholas Dupre Stone and Associates, LLP

Depends on what the loan documents provide and/or what the lender will negotiate with you.

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Answered on 3/12/10, 1:49 pm


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