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dkennedy, Attorney
Category: Bankruptcy Law
Satisfied Customers: 6009
Experience:  15+ years experience
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I am facing foreclosure on my home. The property has been in

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I am facing foreclosure on my home. The property has been in probate case 05-PR 21, in Rio Blanco County for the past 5 years, 2004 to Feb 2009, when the protected person died. We were under 2 conseveratorships in that amount of time. The 1st conseverator purchased the private lenders promissary and deed of trust, months before becoming conseverator,placing it in his name on record.
The note was never adressed in his conseverator accounting as an assett or libability.
Arrive new conseverator, who does not list the libability in his accounting, until the final accounting has been filed.
Is it possible to object to the notice of Rule 120 application and hearing with documentation of past history and have it ordered to be returned to the probae for a final decision
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  dkennedy replied 5 years ago.

Hello b_tucker,


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?

Customer: replied 5 years ago.

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.

Expert:  dkennedy replied 5 years ago.

Hello again,


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.

dkennedy, Attorney
Category: Bankruptcy Law
Satisfied Customers: 6009
Experience: 15+ years experience
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