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I sold a home in Florida and owner financed it - need to foreclose - what are the steps and do I have to hire an attorney?
Wiki User
∙ 14y ago
You would need to go to a law library in your state, study up on the CURRENT foreclosure law in Florida and follow all the steps very carefully. If you miss a step the foreclosure may be invalid and you'll need to do it again. You should consult with an attorney first.
Wiki User
∙ 14y ago
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What do you do if you owner financed a home and now the owner is not making payments and the mortgage company is going to foreclose?
You have to make the payment, but you also need to start forclosure yourself. Get the property back and sell it again.
What is the process to follow in order to foreclose on an owner financed house whose buyers are behind in payments?
There are laws and procedures regarding this, including notifying the owners of your intent to foreclose. A real estate lawyer would probably be a good idea.
How do you foreclose on an owner financed property?
You need to research your state and federal laws that govern foreclosure and make certain the mortgage document is valid for pursuing a foreclosure.
What legal issues should a person consider before buying a owner financed house for rent to own?
Before buying an owner financed rent to own home be sure to have the contract checked out by an attorney. It is necessary to know what might violate the contract prior to signing.
Can Washington state hoa foreclose?
Unless the state of Washington is in possession of a judgement against the HOA, the state may not be able to foreclose on an association. An association in Washington State, however, may foreclose on an owner if there are debts owed to the association by the owner.
Where can one find listings of owner financed real estate?
One can find listings of owner financed real estate at the website "local". This website lists all owner financed real estate in your local area or wherever you want to search for it.
How does our condo association foreclose and collect the amount they are owed?
Read the governing documents; look in the index under Assessments. Then read about the process for notifying the owner of a delinquency, the owner's right of appeal or petition, and other steps that may be required in advance of foreclosure.In any case, best practices dictate that you work with an attorney to collect the amounts owed and if unpaid, ultimately foreclose on the unit to satisfy the debt.
How long does it take the bank to foreclose a property when owner dies in California?
2yers later
You and your husband bought owner financed property. The owner is supposed to move in January but seems to have changed her mind after receiving twelve months of payments. What are the options?
You need to consult with an attorney who can review your proof of payments, agreement and any documents that you signed and then explain your rights and options.
If Mortgage note is in one persons name and the deed to property is in another can mortgage company foreclose and take both house and land?
Yes. ==Clarification== The mortgage company can only foreclose if the OWNER of the real estate signed the mortgage. If someone other than the owner signed the mortgage the bank has no interest in the property and therefore cannot foreclose.
Can the Mortgage be in your name and deed be in both your names not married?
All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.
What to do if one owner is not making house payment?
The mortgage payments must be made or the lender will foreclose the mortgage.
