Real Estate Law
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Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can..I just noticed the pay-off date listed has expired and the note isn't paid. Is the Deed of Trust now invalid?
Deed of Trust is dated Feb 19 2010 and maturity date of loan is
Feb 19, 2011. Then we agreed to a much lower monthly note and rolled over that date verbally. He paid for about 2 yrs and then overdraft checks started coming and then numerous hot checks
and finally a notice that bank account was closed. More hot checks. I have all these.
I also have a Real Estate Lien Note with the same due date on it--
Feb 19, 2011.
The property I took a lien on, as it turns out, is worth only 1/3 of the loan amount.
I let this ride until recently because of friendship (and stupidity).but he says the lot is being built on and will close in about 60 days and I'll be paid. That's why I want to be sure the documents are still valid.
I am very sorry that I don’t have better news, but please understand that I do have an ethical and professional obligation to provide customers with legally correct answers based on my knowledge and experience, even when I know the answer doesn’t make the customer happy...