Posted by dealmaker on June 29, 2005 at 21:51:19:
Uh-Oh!
Did you sell land with this or just the MH?
Real Property transfers (with a mortgage) in TX are done using a (1) Note (2)Warranty Deed and (3)Deed of Trust. Is this what you did?
If they own the Real Property you start with an attorney and FORECLOSE, if you own it you start at the JP’s office and EVICT. If it’s just an eviction, have you given the “3 day letter”.
dealmaker
Foreclosure on Mortgage - Posted by chill
Posted by chill on June 29, 2005 at 20:48:44:
We gave a tenant a lease with Option to Purchase a mobile home several years ago. They paid their rent and then after a period of time exercised the option. So we then created a promissory note/mortgage. They have been making the payments for over a year on that, usually a little late and paying the late fees. Now they are a month late in the payment and we have talked to them repeatedly and they keep saying they’ll pay, but haven’t.
What procedure do we need to go through if they don’t pay – in order to evict, or foreclose on the house? We are in Texas.
Thanks.
Re: Foreclosure on Mortgage - Posted by River City
Posted by River City on July 08, 2005 at 06:26:47:
Let me say, first, that I am not an attorney, nor do I play one on TV.
One problem I see is that you allowed your mortgagors to establish a pattern of always paying late. That could hinder you in foreclosure. I had a friend that did this and the judge did not allow him to foreclose (in Florida).
Any time they pay late, you should send them a late notice that indicates that making the payments late is not in accordance with the written agreement. Be sure to keep copies of the notices you send. I would also suggest that you send the notices certified mail.
Good luck.