I am in Lancaster California and I have a real estate
I am in Lancaster California and I have a real estate question in regards ***** ***** lease option to buy the landlord has continually tried to sell the property before the option of the lease was up I did go see an attorney when he first tried to do it and the attorney instructed me that the lease was wood valid he had also promised to carry it said he changed his mind because he needed a big sum of money now he first tried to sell it to me for $80,000 more than what we agreed upon due to what the market rate currently is but when I went to see the attorney he went back down to our original price I got help from another investor to secure a loan to another person when the other person got the loan when the realtor called to confirm they said that the property was commercial property so that I lost that investor because their people didn't do commercial property plus it will be more down it also was an option on the lease to renew and I put in writing to renew it another year so no now my lease is up in September 2017 however he has totally ignored my option and has had it on the market for a year and even put the sign out then finally assign that said sold on the signJA: What state are you in? It matters because laws vary by location.Customer: I am in CaliforniaJA: Has anything been filed or reported?Customer: Yes a letter to cease and desist complain to the real estate company in another complaint to him the broker and to the real estate agent they since then came and put the sign down but today after nearly two years of being here he sent me a notice to pay rent or quit of $14,000JA: Anything else you want the lawyer to know before I connect you?Customer: Yes earlier he had said any back pay that was due which was months ago when I didn't have business before I opened up my Childcare Center that he put the ridges on to the amount to make the amount $10,000 more that was last year he has been collecting money for me monthly today and never has put a default letter n and now he's asking for all the old old last year Regis because I am pretty much current now but he told me he was going to put that on the sales price but he did this now after I put in the complaint and told him I need him to honor my options
Was this legal malpractice? In mid-2014 I hired an attorney
Was this legal malpractice?In mid-2014 I hired an attorney to work with my home loan servicer on a HAMP I loan modification. I'd been trying since 2009 and had let arrears build up, believing they would be rolled into the modified loan that was apparently not forthcoming. I had just received a notice of default for the first time, and the attorney managed to submit a timely appeal. For a year, he kept the servicer from auctioning off my house. I asked him to handle all communication with them because I was to the point of terror when the mail came. He got them to acknowledge my full gross income and that the house was owner-occupied. However, in June of last year, the servicer received my application and denied it on the same day, June 25. They admit they didn't tell him him in writing. I don't know when they told him, but he notified me on July 6 that the application was declined and that a sale date was set for August 31. He advised me to find an apartment and said he saw no point in continuing. I was mostly moved out anyway, so I took that advice and made an effort to rent the house, which proved impossible given the loan status.) I asked to see the letter, and he said (accurately) there was none. All along I believed he would file a lawsuit on my behalf to stop a foreclosure. He mentioned it an email I still have, and his only employee spoke of his great success in lawsuits filed against loan servicers. He'd written one to file if they hadn't acknowleged my owner-occ status. I didn't believe a new lawyer could be as effective as he because he'd communicated with my servicer for a year and knew my case details. He said he only sued for violations of CHBOR, and that there were none in my case. I disagreed. For one thing, they acknowledged that they didn't notify him in writing of their last denial. Anyway, on Aug 3, I complained to CFPB about being strung along while my arrears grew. It wasn't much of a complaint, but the servicer's response was an eye-opener. They said they denied my application, despite finally getting [adequate] my gross income right, because my arrears were too great to be put into forbearance under HAMP guidelines. I checked, and they were wrong. Mine were less than 30% of my capitalized unpaid principal balance (which the HAMP guide called UPB). They didn't capitalize my UPB. They used the balance without including the overdue interest and escrow payments from 6 years of nonpayment. They must not have known it was a mistake; they explained their method and reason for declining me in their letter to CFPB. Plus there was another method to try (related to MTMLTV) which qualified me, and the servicer didn't try it. Finally, they didn't didn't extend the term of the loan to 30 or 40 years, which must be attempted before a HAMP I is declined. They kept my loan term at 22 years that remained on the original loan, which is why they couldn't get my payment down to 31% of my gross monthly income. I pieced it all together just in time to file for bankruptcy on the business day preceding the scheduled auction. My plan has been confirmed, my balance reduced to the stipulated value of the house, it's at 4% fixed for 30 years, and all is stable. The skeleton Chapter 13 my lawyer advised stung me, though. It meant no stay in my Chapter 11. (None at all. My BK lawyer forgot to ask for even the one-month stay I was allowed and neglected to assert that the filing was no frivolous. I don't know why the servicer didn't move to foreclose!) Getting to the point: The bankruptcy legal costs are close to $50,000, and I have a 5-year plan during which all my disposable income must go to to the unsecured creditor. (That's the servicer; we bifurcated the huge amount I owed). Payments to the US Trustee will total $16,000, and the stipulated balance is $35,000 more than the uncapitalized UPB. The monthly payment will be $1000 more per month than in HAMP I. There is no forbearance "ballon payment," which is great, but unimportant as I don't intend to sell, have no heirs, and owe that money fair and square anyway. I think my attorney should have noticed that the servicer was doing HAMP wrong. If my attorney had looked at the NPV inputs, this would have been obvious. I have since learned that the now-defunct servicer extended loan terms for no one's mods, HAMP or inhouse, and that they had the very lowest rate of HAMP approvals of the big servicers the Treasury tracks. It's 12%, which is 30% less than the second lowest rate—an outlier. (Bank of America's rate is 40%). He also billed me $500/month for a year. I looked back at the contract; it was for $3000 max. Would a complaint that asked for $50K + 16K + (1K/month x 360) (higher loan cost) on the basis of negligence and abandonment fly? Maybe something for the ordeal of Chapter 11 and the loss of privacy and autonomy, as well as reputation and credit score?
If you receive a repossession letter and pay the car loan
Hi: If you receive a repossession letter and pay the car loan off can a bank still take your vehicle?JA: Because laws vary from state to state, could you tell me what state is this in?Customer: MA but the bank is in CTJA: Have you talked to a lawyer yet?Customer: nope just made the final paymentJA: Anything else you think the lawyer should know?Customer: no the bank said I missed a payment but was told I could make the final payment for July. So I sent the payment and there nothing owed on the vehicle but they sent a notice of default letter, right to cure & intent to repossessJA: 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 Lawyer about your situation and then connect you two.