Suggestions To Foreclose
I have a mobile home (on rented lot) that I've owner financed. The guy keeps making up excuses, but now owes me 3 payments. What would be the procedure to begin foreclosure? How long should it take?
Thanks,
Chris
No answer... I am in the same boat. We sold our house and we have to go and collect and then she only gives us some money or tells us she will come such and such a date and never shows up. The way I understand it I can't take the house back but have to sell it at auction and she gets anything over what she owes us on it... I would also like to know what to do. Will be watching for answers!
Hire an eviction attorney. He will pay for himself because he will do it right the first time.
Well if you want to have any type of a chance getting your property back and foreclosing you need to stop accepting partial payments. You need to refuse payments and start the process immediately.
Hopefully your note had a default interest rate that is higher and will gobble up any of the equity that the buyer may have and reward you for your hassle of having to foreclose.
You could always offer the buyer $XX amount of money for a quit claim to save the foreclosure on her record and the aditional costs they will incur.
There is no equity built up, I hope to sell it for very little under what he owes still. I've been trying to get him to voluntarily surrender it, since he obviously owes me more than he earns in a month, but that's just not going to happen.
Does anyone have any idea of the process the eviction lawyer would take? How long should it take to get this guy out?
Definitely get an attorney. If you want to try something else while the attorney is getting stuff together, offer the guy $500 to leave and DON'T pay him until he is totally out of the MH...
Good Luck!
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