Legal Question in Real Estate Law in North Carolina

I paid $36,000 down my house when I purchased it.The lender sold my loan 60 days after I closed. I refinanced with a new lender to get a lower interest rate. I discovered then that the original leder didnot transfer my $36,000 down payment to the new bank.I went to the Commissioner of Banks for NC and they took my report and investigated. Then said I would have to hire a lawyer. I then went to the NC Dept of Justice. They emphatized with me but said they could not help get my money back and that I would have to hire a lawyer. Is there a time limit that runs out on cases like mine? I feel it is wrong for me to pay someone to take this case because they will take part of my $36,000 and I want and need all of my money since I am now unemployed and struggling. I need help.


Asked on 11/29/11, 5:27 pm

2 Answers from Attorneys
Melissa Brumback Ragsdale Liggett PLLC

I do not know the statute of limitations for this type of matter, but yes, you should not delay in filing a claim. Check with your local Legal Aid office to see if they would provide pro bono assistance to you in such a case.

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Answered on 11/29/11, 5:49 pm
Jeff Rosner Rosner Law Firm P.A.

Unfortunately for you, if you hire an attorney - they obviously are going to need to be paid. Depending on what the cause of action is, you may be able to recover attorneys fees or penalties - for instance if you had a viable claim for unfair and deceptive trade practices.

However, there is one thing I do not understand from your question. If you put $36,000.00 down, what does that have to do with the lender? You made a payment of $36,000 to the lender or you made a $36,000.00 payment to the Seller and got a loan from the lender for the rest? Because the $36,000.00 down payment is equity in your property and would not be transferred to any lenders. If you made a $36,000 principal payment to the loan that has not been applied, then that is a different story.

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Answered on 11/30/11, 5:05 am


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