Posted on: 28th Jul, 2008 11:06 am
I was not aware that my ex-business partner didn't renew a commercial mortgage that expired in May of 2007. However, mortgage payments were accepted by lender for 14 months since then, no defaults on payments. Now lender ask to pay the whole mortgage amount immediately and harassing me with power sale based on the fact that mortgage expired. There is a clause in 1st mortgage that mortgage will be automatically renewed for the same term (5 years) with lender note prior to mortgage expiry. Please advise if mortgage considered expired and what is procedure for requesting payment in full.
talk to a real estate attorney
you need legal advice
you need legal advice
most these people just want to collect more money from everyone and give nothing back butt deceipt. why do you think all insurance companys refuse to pay out on technicalities? everyone should sue in civil court, every lawyer, real estate and corporate and government leaders. check their "codes of ethics " they all signed. its only 25-35$ to sue??? check out new book.."lawyers gone bad".
