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
- Re: Foreclosure - Bill H 23:12:01 02/22/03
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Comments:: 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 make: the monthly payments, can I forclose? Will the property: be put up for auction or will it get back to me,: since I hold the mortgage on it? Could you please: tell me how that works, my husband & I don't agree on that. He say's if I put a stipulation in the contract: that I forclose if no payment is being made, I loose: the property to the highest bidder on the auction: block. Please inform me if that is right.: Thank you in advance,: Rita LawrenceOptional Link URL : Link Title :