Colli Real Estate

1 I have a 500K to another person 2 º 1 thousand buildings in present value is $ 1.2 million. Buyer to stop paying. What?

I live in California. The apartment building is located in Oregon, 24 units. It sold 1.8 million euros. in 2007. This is the first month! I have not received payment. The person with the second, I have a lock on his lawyer this week, have not receive payments for some time. The People's Advocate with the 2nd answer any of my questions and I represent due to conflicts of interest. Why continue to make payments to the buyer of me and not people with the 2nd. I think I'm in good shape, because the building is worth much more than 500k. Should I wait to see what happens or get a lawyer now? What is better? What is the smartest thing to do?

If you are in the first place and the property will be the total exclusion to include the sale, offering for the first would be the minimum balance to be more than the balance of the second, and fees and other expenses to complete the foreclosure and the second is committed. In Oregon, the lender already has two foreclosure procedures may be used and the contract signed when the loan agreement was signed determines that the use procedure. One of court proceedings exclusion means that the exclusion should go through the courts of Oregon or a foreclosure any judicial, which means you do not have to go through the courts of Oregon to conduct the foreclosure. Most lenders use the non-locking judicial proceedings. All enforcement procedures are well known so you can get copies of foreclosure and to see what the procedure has been used against the owner in this case. This is important. If the judicial procedure, we used the owner is redemption right under the law of exclusion of Oregon. If the judicial procedure was not used the current owner did not the right of redemption. It might be a good idea to consult a local lawyer, real estate in Oregon to obtain information on the case. The costs should be minimal and did not detain him for any length of time. If the exclusion were the foreclosure sale and the property is not sold then the person is in the second, then it will immediately begin to make monthly payments according to the contract signed by the current owner. Failure on your part to make the monthly payments should be cause for immediate implementation procedures for implementing this new owner. Now, after the loan agreement / contract he signed with the incumbent will determine the type of foreclosure process can use against the new owner. Most buyers think that by making monthly payments on the mortgage first and the second does not prevent no access. When and if you take the decision to seize property in Oregon there are companies in business to do that. Usually they are asking collected after the foreclosure sale. If the property does not sell you take care of his property after all the work is duly signed after the exclusion will now pay services provided by you. How are you contacted for this first mortgage? Did you go through an investment group and provide money to buy the currency? You can contact these people for any help you might be willing to provide. I offer this service to my investors, such as Most lenders of private placement offering this service to their investors. I hope this was of some usefulness to you, good luck. "Combat"

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