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I am inquiring on behalf of my brother who is very ill right…

Customer Question
I am inquiring on...

I am inquiring on behalf of my brother who is very ill right now. He has entered into sales contract to sell his home, opened escrow and now the lender is stating that he owes $142, 000 more than what is stated on his monthly mortgage statement! He frequently receives emails from lender stating that he has 196k in equity! With that in mind he decided to sell and accepted an offer, but now there isn't enough to payoff all fees and cost based on sales price!

Lawyer's Assistant: What steps have you taken so far? Have you prepared or filed any paperwork?

Yes, he accepted an all cash offer on the 3rd day of listing with agent, buyer offered 10 day escrow and waived all contingencies!

Lawyer's Assistant: Where is the home located?

Lancaster ca

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Yes, in 2010 he stopped working because he became ill from kidney failure and heart disease. he obtained a loan modification and complied for the 5 years which ended 2015. At the time he qualified for modification through the making home affordable program

Submitted: 4 months ago.Category: Real Estate Law
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Answered in 1 minute by:
3/23/2018
Real Estate Lawyer: Infolawyer, Lawyer replied 4 months ago
Infolawyer
Infolawyer, Lawyer
Category: Real Estate Law
Satisfied Customers: 63,025
Experience: Experienced lawyer
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what can I answer for you?
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Customer reply replied 4 months ago
My brother thought the principal balance was reduced in the loan modification! At least once per week he gets emails from loan servicer reminding him that he has all that equity! How can he cancel the contract to sell or get lender to forgive some or all of the additional fees?
Real Estate Lawyer: Infolawyer, Lawyer replied 4 months ago
A lawyer letter from a local lawyer can be effective in several ways. It can avoid costly litigation and help bring about a settlement. It also helps organize the claim and if it goes to court shows the judge you tried in good faith to resolve it!martindale.com and findlaw.com are both excellent lookup directories. Both highly rated. Both used by lawyers. Easy to search and find local options.By being prepared and pressing your claim, the other side should feel the pressure and consider the risk of losing and legal fees. That realization can help bring about a settlement!If you have a follow up, just reply and ask me!Please let me know if the reply is acceptable by responding “yes” or “acceptable”
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