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Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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A friend of mine recently hhad s house foreclosed and it was

Customer Question

A friend of mine recently hhad his house foreclosed and it was purchased by the individual who lent him $55,000 for home repairs. to make a long story shorthe is now 45 days into the writ of redemption . The note some 12 years old is now $104,000.He hasnt paid nhis mortgage and is behind in californian state taxes. He owes about $125,000 but the property has been appraised at $325,000. He believes that he was forced into signing the docs and calls it a predatory loan. Everyone involved doent seem to nhave these loans papers . He wants to know if nhe ncan nget an extension on tht 90 day wrrit of redemption so he can get some investors involved. I re where there is a one year nwrit of redemption n. Any advice you could help him with would be gretly aippreciated .Thanks
Submitted: 11 months ago.
Category: Real Estate Law
Expert:  RealEstateAnswer replied 11 months ago.

What State the property located in? Also, why did he not address and raise the issue with the loan and the documents previously?

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