new york
We recently sold a mortgage in two parts with a promissory note to purchase the second half in one year. Nowhere in the closing contract was the right of first refusal mentioned. The mortgage is being foreclosed on for failure to pay by the owner of the home. How do we protect our interest in the mortgage and can we recall the whole mortgage from the people we sold it to for non payment of the second half as agreed
We recently sold a mortgage in two parts with a promissory note to purchase the second half in one year. Nowhere in the closing contract was the right of first refusal mentioned. The mortgage is being foreclosed on for failure to pay by the owner of the home. How do we protect our interest in the mortgage and can we recall the whole mortgage from the people we sold it to for non payment of the second half as agreed