LLC defaulted and I got nothing.The person whose name is on the LLC is refuse to take my calls or talk to me.I need a real estate attorney to help me out but I have no money I will pay out of what ever attorney collect. Please help. Naim Bhatti 858 780 2665
Your collection alternatives depend upon whether the note is still secured by a trust deed. If it is, the only route available is foreclosure. Whether that is a viable alternative depends (in large part) on the value of the property, as well as your ability to cure a default under the first trust deed. If a foreclosure has taken place under the first trust deed, your remedies are the same as any other holder of a promissory note - filing a lawsuit and seeking to attach. However, if the payor under the note is a single asset LLC which has just lost the property to foreclosure, collection of the note may not be a viable option. You need to consult an attorney to decide on a course of action. Good luck.
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