Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
I would like to help you with this, but I need a little more information.
You are in Colorado, I assume?
You said your house is in foreclosure. Who is supposed to be making the payments?
Is the original conservator (the note holder) now trying to foreclose and take the house?
Is it being sold at a sheriff or other sale?
When is the sale scheduled to happen?
The note was held by a private lender the person we purchased the home from. We paid $340,000 down leaving a balance of $160,0000, and a balloon payment of Sept 1 2005 1 year. We had a contract on other real estate we were selling and were confident would could meet the ballon payment. The property did not cose until December of 2005 leaving us a few month short of the due date. We had made arrangenmets with the local bank for a real estate loan paying of the orgional lender.
We have the documents where we offered to trade property titles or sell the property and pay him off. He refuse all avenues we or our attorneys suggested. There were 4 attorneys and two conseverators involved and nohing was ever settled.
The $160,000 is now $288,000 with added intres of 12%.
Yes the first consevewrator is the note holder.
He transfered title to his daughter 6 weeks after his father died.
She was a ;petetioner for her father to become consevrator.
My attorney treansfered a $55,000 judgement to the daughter at the same time.
Not one penny was paid on the note sense the pruchase of September 1.
Yes he is asking for a public trustees sale.
I don't think that filing an objection to a Rule 120 is the answer here. That needs to be filed 5 days before the sale and it is just a protest, of sorts to the sale. Although I have limited information, it seems that the probate matter has been severely mishandled, possibly criminally. First of all, the initial conservator had and has a conflict of interest and should not have anything to do with this property. But, more than this, the subsequent conservator has obviously also mishandled the estate.
I think you need to immediately have the ongoing processes stayed and file a Motion for a substitute Conservator and for an Inquiry as to the handling of this estate. You should get an attorney for this. You cannot afford to lose this house. It is being taken away from you. I know you are trying to handle this yourself, but you should have an attorney to have this entire matter looked at by the court.
Good luck to you.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).