Hello All,

Corporation makes a loan payment in February, which the bank reversed and directed to a LOC they would not renew.

We also have them sweeping account (now closed) and incoming wire transfers to closed accound to LOC.

We could not get them to return the loan payment to proper loan (with small balance of $4200) so we stopped paying all loans. The small loan of three is the only loan with mortgage security on it.

Now bank has filed suit and mortgage foreclosure notice on us personally as guarantors, not business.

We can countersue, of course, but how can it be legal for me to make a loan payment and have them four days later reverse loan payment and then sue me over non-payment?

Anyone here with MN law that can give me a heads up on what to do here? We have started working with lawyer but I'd like to educate myself and understand what my options are as well.

Thank you.

Have you browsed through the information in LawInfo's Free Legal Resource Center to learn more about your issue yet? See: http://www.lawinfo.com/consumer.html and http://resources.lawinfo.com/en/index.html. You can certainly try to speak to a lawyer to determine what legal options may be available. In the meantime, you may be able to learn more on your own. Search the "Free Legal Resources" tab, or browse the Consumer Resources. Good luck.

Aside from your lawyer advices, if you wanted to know more on loans and other loans issues, you can either visit one of the loan site over the net. You can find their certain facts about what really means if you are applying loans and what are the pros and cons in it for better understanding.

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