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the president who personally handles my loans became enraged

last week when i told...
the president who personally handles my loans became enraged last week when i told him to use the reserve they kept from sale money to pay my march past due and current april payments. he wanted to know how i would make them after that and said he would call me back, he had to figure out what they were going to do with my building when they took it back. my mtgs were current until now and the reserve was held in case they weren't paid when i sold property. the only thing they have on me is my past due property taxes they knew about at closing of 22g but took 50g and paid down my home equity instead of paying them. he called and left messages wants a meeting with me. im looking for a contingency attorney for lenders liability, breach of fiduciary duty and unfair trade practices but don't know if i'll find one and can't hire one. do you have any recommendations on anything i should/shouldn't say at the meeting or anything i can do? thanks.
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4/5/2012
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kattorney
kattorney, Lawyer
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Experience: 16 years of experience. Expert in real estate and real estate investments and investors.
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You should look to your documents. When the reserve was established, was there any documentation or agreement or any sort of writing? If so, that should tell you what the bank can and cannot do in regard to the reserve. Read any such document carefully, highlight provisions that the bank may have violated, and take it with you to your meeting. For example, if the document states that the bank has the absolute right to hold the money until your property is sold, then you probably can't force them to use it for payments. If there is no documentation, you have every right to demand that it be used for your March and April payments. After all, it is your money. Alternately, if there is no signed agreement, demand the money back (and then make your payments). The bank doesn't have any right to inquire into how you will make your future payments, until those payments are missed it's not their business. Likewise, the bank cannot foreclose if your payments are current.
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