UPON CLOSING SIGNATURE OF A MORTGAGE LOAN I LOST MY JOB AND ADVISED,LOAN WENT THROUGH AND I WANT TO FILE DURESS AGAINST THE MORTGAGE CO .HOW?

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UPON CLOSING SIGNATURE OF A MORTGAGE LOAN I LOST MY JOB AND ADVISED,LOAN WENT THROUGH AND I WANT TO FILE DURESS AGAINST THE MORTGAGE CO .HOW?

Asked on June 12, 2009 under Real Estate Law, California

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

Duress? No such thing sorry for contracts unless a gun was placed against your head, literally.

You knew you were signing on a loan - just because you lost your job doesn't mean now you want to file something against your mortgage company.  You can try to do a loan modification or workout.  If all else fails, and you are facing foreclosure, you can do a deed in lieu and lose the house (and oftentimes, you may still be responsible for some fees).

Contact the California Dept of Financial Institutions and see if anything can be done.  You can also try legal aid and you can also try consulting with private real estate counsel.  Try www.attorneypages.com and check his or her disciplinary record at www.calbar.ca.gov under attorney search.


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