My question involves employment and labor law for the state of: CA/MN
Here is our scenario:
Last year, 04/07, I accepted a job in CA (I lived in MN). In 09/07, we finally purchased a home and moved, however, the only way we were able to purchase a new home was through an equity advance from the company; this amount equaled $175,000. At first the company did not have me sign anything in relation to the equity advance. Six months later, and because my home in MN had still not sold, the company had me sign a letter saying that they would reduce the amount I owed them by $50,000, but if my home hadnt sold by October 31, 2008, then I would have to pay back the $125,000 at that time. Mind you, they had the head of the company, the head HR person and my boss in the room at the same time. How can I say no I won't sign without feeling that my job might be threated?
Here is where it gets good. The home we purchased in CA has lost it's value by the tune of $200,000. So, even if we wanted to sell it, we couldnt and that is where all the money went...to the down payment. We still own the house in MN, but that has also lost value. NOW it appears that the company, which it a large international company is going to be leaving the US, thus leaving me without a job.
Can this company still come after me and expect me to pay this money back when number one, they had me move out here; two, the economy is in the tank and there is no way I can pay them back; three; they lay me off?
I will be contacting a employment law attorney, however, any feedback or insight would be greatly appreciated.

