I have a 1st 500K Another person a 2nd 1 mil Buildings value today is 1.2 mil. Buyer stop paying. What do I?
I live in California. The apartment building is in Oregon, 24 units. It sold for 1.8 mil. in 2007. This is the !st month I haven’t gotten a payment. The person with the second, I got a foreclosure’s notice from his attorney this week, they have not been getting payments for a while. The attorney for the people with the 2nd won’t answer any of my questions and won’t represent me because of conflict of interest. Why did the buyer keep making me payments and not the people with the 2nd. I think I’m in good shape because the building is still worth alot more than 500k. Should I wait to see what happens or get an attorney now? What”s best? What’s the smartest thing to do?