Re: Texas owner financed foreclosure +options
Posted by Nick(Colorado) on March 21, 2004 at 15:06:49:In Reply to: Texas owner financed foreclosure +options posted by rizzo on March 19, 2004 at 17:28:02:
Rizzo:
If you would like to try and get back the property withoutexposure to public sale, you may offer the current ownera DIL (deed in lieu of foreclosure.) You will need to do yourdue diligence to assure that the property is not encumberedby a second DT, or other items like judgments.
Provided that your orignal DT documents where legal, andwritten and recorded properly there is no difference inforeclosure from a bank loan. If you need to go the foreclosure route, find one of the law firms in your area that handles a large number of foreclosures. Give them copies of all of the recorded documents, payment history, arrearage information, etc. They handle all of the legal issues, and their fees willbe rolled into auction bid amount.
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Comments:: Rizzo:: If you would like to try and get back the property without: exposure to public sale, you may offer the current owner: a DIL (deed in lieu of foreclosure.) You will need to do your: due diligence to assure that the property is not encumbered: by a second DT, or other items like judgments. : Provided that your orignal DT documents where legal, and: written and recorded properly there is no difference in: foreclosure from a bank loan. If you need to go the foreclosure : route, find one of the law firms in your area that handles a : large number of foreclosures. Give them copies of all of the : recorded documents, payment history, arrearage information, : etc. They handle all of the legal issues, and their fees will: be rolled into auction bid amount.Optional Link URL : Link Title :