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.