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Originally Posted by gldskr
Why do you keep calling Codee Fossil?
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Why are you referring to me as Codee ?
Ok, a little clarification is required here.
The owner did not get a second mortgage, he refinanced for a higher amount, about $50,000 more (he skimmed $50k of equity out).
A title search would not have turned up my contract, I did not record it. But it is(was) in fact valid before he refinanced.
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Originally Posted by gldskr
I can only assume that he determined the equity to be sufficient to secure his deposit. Only a moron would put down 20K otherwise.
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When I signed the contract the real-estate market was high, shortly there after it started dropping. I got into the contract as an investment, thus I was in a very good position to begin with but have lost or am losing ground now that the market is falling.
The reason for my 'private settlement agreement' is to make a new contract thus nullifying any prior contract and making it work in my favor.
If I am in first place in regards to the new mortgage, where does that leave me? I'm not in a position to get a mortgage at this time. I would like to tie up the property until I have my money back or compensated to my satisfaction.