What is the name of your state (only U.S. law)? California.
I still do not have all info yet but am trying to find out what I need to do about this. 3 years ago I gave an individual a loan of $47k that was secured with their home. They have now abandoned the home and the bank has issued an intent to foreclose. I was told that my loan is basically worthless and that I have no way of recouping any of the money from the loan. Any help greatly appreciated- I am not in a position to hire a lawyer right now. Thank you.
I still do not have all info yet but am trying to find out what I need to do about this. 3 years ago I gave an individual a loan of $47k that was secured with their home. They have now abandoned the home and the bank has issued an intent to foreclose. I was told that my loan is basically worthless and that I have no way of recouping any of the money from the loan. Any help greatly appreciated- I am not in a position to hire a lawyer right now. Thank you.