In 2001, I learned that I could buy property with my good credit for other people with bad credit. Over the years, I've done it almost ten times for individuals as well as for Business trusts that had no credit history at all. In fact, in 2002 I purchased a house at market value from a lady who was in foreclosure. The net proceeds from the sale were used to pay the new note and allow her one year to get her financial life back in order. In addition I had her carryback a $31,600 note which I was hoping to find a buyer for, so that her mortgage-free and rent-free stay could be extended another year or two, but that didn't happen. Unfortunately, during that year, she did not get a job, nor did anything to enable her to take over the monthly note payment. After an additional year of 'no job" I had to end up evicting her and selling the house, so that my credit would not have a full-blown Foreclosure on it. Now, she's gone to an attorney and he succeeded in obtaining a $72,000 judgment against me because he convinced the judge that I was an equity purchaser" under Calfiornia Code 1695. Even though the lady did not have to sign the Grant Deed until more than forty-five days after signing the Purchase Agreement, the Code said that Equity Purchasers had to give the Seller a written 5-day Cancellation Notice, or the Seller could sue and ask for their house back, or sue for damages. Now, her attorney has discovered that my name has appeared in the chain of title for the house that I currently reside in, and a loan that I got for a Trust on some vacant land, so that the Trustee could build his retirement home on it. He has attached a lien to both the house and one of the vacant lots, even though a Trust holds Title to each property. I am the First trustee of one of the Trust that owns the property where I live, but as First Trustee, I do not own the Trust Assets, and the Turst is not responsible for my personal debts. Does anyone know how I can get the liens released from both pieces of property?

Do you pray often ? Honestly you are pushing the code as to what you are doing, You need a very very good real estate agent and a judge that sides with landlords and mortgage companies. ( in California I would not hold my breath for that) So filing in court is about all you can do.

Hello ann:

Did you appeal the judgment? Did you have a lawyer? DO you have a lawyer NOW? I'd get one.

excon

Talk about risk!! Frankly, I think you have been lucky to have gone for so long without this biting you back. Before I would even think of doing something like this I would have a very good real estate attorney at my back. Apparently this woman got one, now you need one of your own to see if they can extricate you from this mess.