Seller not honoring second mortgage amendment - Posted by Jim K.

Posted by Jim K. on March 01, 2002 at 10:08:02:

A few months ago I bought a property and the seller was going to take a second mortgage for $30,000. However, on the day before closing, a severe foundation problem was found in the house and we agreed to change the note to $10,000. We didn’t want to delay closing, so a few hours before closing we signed an amendment to the second note and closed on the property. The $30,000 note was signed and recorded. I now find out the seller is not honoring our amendment and is denying that he signed the amendment. The amendment is not notarized and I only have a copy, he has the original. Is my amendment valid? What should I do to make him honor the amendment? He has started foreclosure action demanding the $30,000 be paid off in full. Any and all help is appreciated.