Foreclosure

Posted by Rita Lawrence on February 21, 2003 at 18:22:33:



We're selling a house to the Church next door.The mortgage is to be paid to me over a period of 16 years.If for any reason the Church doesn't or can't makethe monthly payments, can I forclose? Will the propertybe put up for auction or will it get back to me,since I hold the mortgage on it? Could you pleasetell me how that works, my husband & I don't agree on that. He say's if I put a stipulation in the contractthat I forclose if no payment is being made, I loosethe property to the highest bidder on the auctionblock. Please inform me if that is right.Thank you in advance,Rita Lawrence



Follow Ups: