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Damien Bosco
Damien Bosco, Attorney
Category: Real Estate Law
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Im acting as Power Of Attorney for Mom to sell her house of

Resolved Question:

I'm acting as Power Of Attorney for Mom to sell her house of 30+ years. The wording in the CREDIT SALE AND MORTGAGE to the people buying is worded as follows:

the wording "to cause all and singular the said property herein mortgaged to be seized and sold under executory process, without appraisement, to the highest bidder for cash; the said Vendees hereby confess judgment in favor of the said mortgagees and any future lawful holder of said note, for the full amount thereof, together with all costs, charges and expenses " bothers me.

We want the property to default back to us in case contract is breached. Does the wording allow anyone else to have any authority at all in the case?

The said Vendees further declared that they do by these present agree and stipulate that in the event of said note not being paid at maturity, or it shall be lawful for and Vendees hereby authorize the said mortgagees, or any future lawful holder(s) of said note, to cause all and singular the said property herein mortgaged to be seized and sold under executory process, without appraisement, to the highest bidder for cash; the said Vendees hereby confess judgment in favor of the said mortgagees and any future lawful holder of said note, for the full amount thereof, together with all costs, charges and expenses
Submitted: 3 years ago.
Category: Real Estate Law
Expert:  Damien Bosco replied 3 years ago.
Hi and welcome! My name is XXXXX XXXXX I will be assisting you. I am happy to help.

I understand what you are saying. I want to provide you with another Credit Sale and Mortgage pdf that is more likely to have the language you prefer. Take a look at the language. It appears to allow the property to default back to seller as you prefer, although seller still has to take steps to get it. See 13 B and D of the agreement.

Here is the link:

http://www.mikestaggforlafayette.com/RR-DurelDeal.pdf

I think this will give you the language you want. If not, let me know so I can see how I can further help you.

Thank you,

Damien
Customer: replied 3 years ago.
I'm reading. Yes I do like the language in this document better.
Pleasegive me a little time to digest. I'm sure there will be a few more questions also
Mike
Expert:  Damien Bosco replied 3 years ago.
Hi Mike: Good. I am glad you like the language better.

If you need me further, let me know.

Best regards,

Damien
Damien Bosco and 6 other Real Estate Law Specialists are ready to help you
Expert:  Damien Bosco replied 3 years ago.
Hi,

I just want to thank you for allowing me to help you with your question. I appreciate the positive rating and the bonus! I am here to help you in the future also. You can request me by name the next time and I will be notified. Also, you can bookmark my profile and ask me a question that way. Here is the link:

http://www.justanswer.com/law/expert-damien-bosco/

Either way, I am always happy to help.

Best Regards!

Damien Bosco

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