Bruce (kor27) wrote,
Bruce
kor27

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When Scylla Met Charybdis

I had my little appointment with a real estate lawyer yesterday. He turned out to be a really nice guy - in fact, my half-hour appointment was almost an hour long, and there's no indication he has any plans to charge for it. My situation is a slightly bizarre one, but he pulled together a great deal of info quite rapidly. So if you happen to need any representation in real estate, I'd highly recommend Jonathan Sweet.

The information he had was not necessarily so nice. There might have to be a court case to determine it, but the likelihoods are that Larri does have the superior lien. Even so, it turns out that AMC's best financial bet is to let the place foreclose. Any other method, and they'll likely not make all their money back. And if Larri gets paid first from the foreclosure, they can likely get the money from the title insurance (unless the title insurance gets wind of the fact that I told AMC about the lien prior to the policy...).

So AMC isn't going to be any help. I can either keep making payments or let it go to foreclosure, as far as they're concerned - but they won't help with the sale.

Larri is, of course, being Larri. She may suddenly reduce her claim, but due to biological reflexes, I'm physically unable to hold my breath that long.

I'm therefore left with a house I can't keep, and can't sell. So I'm going to follow Jonathan's advice, and Monday, I'm going to call one of the three bankruptcy lawyers he referred to me. I also have a homestead declaration to sign, notarize, and file with the county. I may even end up in a better financial position that way, which would be... odd. But the final thrust of the matter is that when the process terminates (which may take a joyful 9 months or so), I can let Larri and AMC duke it out over the house without it being any of my concern.

I can even sincerely hope that Larri manages to win, since her debt is non-bankruptable, and it would effectively get her off of my back, at least until she tries calling another support hearing. I'm curious to see how many of those she's going to call before the judge completely loses all patience with her...

Honestly, the hard part of all this is going to be telling Cynthia.
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