I am about to lose my house on a land-contract agreement and I need to know what my rights are!Is there an on-line location where I can get some legal advice concerning a real-estate issue?
You MUST consult a lawyer NOW.Is there an on-line location where I can get some legal advice concerning a real-estate issue?
If you have not paid your land contract agreement as agreed in the contract, you can legally face foreclosure. There is not a great deal of difference between a land contract purchase and that with a conventional mortgage. In either case, you can lose the property for failure to comply with the contract. With land contracts, you generally forfeit any and all ownership in the property when the owner forecloses, as well as loss of any 'equity' you think you may have gained during the contract.
You can probably save this deal if you pay up in full immediately.
Hiring a lawyer for minor legal problems can be expensive, but there are websites like LawGuru, FindLaw and other places where you can get free legal advice. I found this website useful - http://www.uelp.org/freelegal.html
RE law varies by area, so you would have to find a site that has correct information for your city, state, country - what have you.
Your best course of action is consult with an attorney.
No comments:
Post a Comment