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CalAttorney2
CalAttorney2, Lawyer
Category: Real Estate Law
Satisfied Customers: 10237
Experience:  I am a civil litigation attorney with experience representing HOAs, homeowners, businesses and others in real estate matters.
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I signed a contingency agreement when i first was having am

Customer Question

I signed a contingency agreement when i first was having am adjustment done. The adjustment denied the damages. I then decided to have a 2nd adjustment but with a different roofing contractor
JA: Have you talked to a lawyer yet?
Customer: Not yet but was thinking about spending the money.
JA: Anything else you think the lawyer should know?
Customer: Looks like the second adjustment will go through.
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Real Estate Lawyer about your situation and then connect you two.
Submitted: 5 months ago.
Category: Real Estate Law
Expert:  Alex Esquire replied 5 months ago.

Hello. My name is Alex.

Thank you for your question.

I will be happy to provide you with information you are seeking for educational purposes only.

Can you please provide me with more details about the situation in question and also please let me know what is your question about the situation?

Customer: replied 5 months ago.
I already own a house and had hail damage in which I filed a claim with my home insurance. I had a roofing contractor that came and stated the only way for him to look at the roof was to have a contingency agreememt signed. I signed and we went along with business as usual. After about 3 weeks the claim came back as denied for the damages. I then called my insurance company and requested a second adjustment with a different roofing contractor. This adjustment appears it will go through, but i wanted to know if im still obligated to go through with the first roofing contractor because i signed the contingency agreement or if because the first claim was denied that then voided the contingency agreement?
Expert:  Alex Esquire replied 5 months ago.

Thank you for your follow up.

Did you review the terms of the agreement to see if they address your current situation?

Customer: replied 5 months ago.
I dont have a copy of the agreement. I want someone that would know something on the legality of a contingent agreement in Iowa. If I could just look at the form I wouldn't be asking you. I will just request a refund. Thanks.
Expert:  CalAttorney2 replied 5 months ago.

Dear Customer,

Thank you for using our forum. My name is ***** ***** I hope to assist you today.

The bank may be refusing to accept payment if you are not tendering the full amount necessary to "cure" the default. This would include not only the amount past due, any interest, and late payment penalties, but also the cost of the foreclosure to date (so any trustee fees associated with the foreclosure, and any collection or notice costs).

However, if the bank is simply refusing to accept any payment, you will want to get a court order to stop the sale. I can think of 3 possible courts that would be appropriate to stop the foreclosure here:

  1. If your husband is under a conservatorship or guardianship, you may be able to file a motion with that court asking for them to issue an order placing a stay on the sale and order to the bank to issue a bill to cure the mortgage due. (This would probably be the easiest since the court case would already be open, but it is probably the least appropriate, it may work though).
  2. File a civil court case against the bank for breach of contract and injunctive relief. When you file your case immediately file an ex parte motion for a temporary injunction asking for the same relief as above. (This is a little more complicated, but is probably the most appropriate course of action. I would recommend retaining a lawyer to help you with this, as noted, this is a little more complex and you need to move very quickly through the process to have this work properly).
  3. File a bankruptcy action. You may not plan on going all the way through the bankruptcy, but you can try to use the "automatic stay" to force the bank to stop the foreclosure action at least long enough to buy some more time. (There are risks here, because filing for bankruptcy alone can cause problems with other creditors, if you do this, hire a bankruptcy attorney to ensure you do not create more problems for yourself when you are trying to solve problems.).

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