Legal Question in Real Estate Law in California

Yes I have a few questions here one question is it a breach of contract if a loan company that you have offers to its a reverse mortgage loan I got behind on taxes and I turn around and call them about taxes and insurance and they agreed to let me pay a certain dollar amount which I sent him that money and money orders to what they agreed for me to send them in and they were going to lie me to make the rest of it in payments they turn around and said sent the money grams money orders back to me was that a breach of contract there with them and then they when they did do the non-judicial Foreclosure auction there was no paperwork posted on my property or given to me notify me 20 days prior to the auction of my home and was that a violation

Asked on 8/02/17, 1:18 pm

1 Answer from Attorneys

Susan Murphy Advocate Legal

Reverse mortgages are predatory, one-sided contracts offered to desperate people. The person signing usually does not have the reverse mortgage reviewed by an attorney. The reverse mortgagee retains all rights, including the power of sale at nonjudicial foreclosure, and the mortgagor (you) walks a tightrope from which you will inevitably fall.

You have many different questions rolled into one here, but the bottom line is can they get away with this?

The answer is yes.

There is no breach of contract claim because you breached first by not paying your taxes. In order to enforce the side agreements you made over the phone, you would need to file a litigation for promissory estoppel and assert that you took some action, or failed to take action, in reliance on their verbal promises. They know very well that you cannot afford this which is why they played you as they did.

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Answered on 8/02/17, 1:48 pm

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