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I can't see this happening without spending money on your part...be smart and call an attorney asap or potentially say goodbye to your (ex) house and the money.
Agreed, it costs around $5,000 to foreclose in Virginia (don't know w here you are) with the assistance of an attorney, as long as, the documentation 1)was originally closed according to state law, 2) has legal trustees, and 3) the terms are clear in the note and the deed of trust (which is what secured the property to the loan).
If not, it sounds like OP financed a house for someone that she already owned and may have made the big mistake of signing the deed over to them without understanding what she was doing.
The OP:
Need to get my house back the people I hold the mortgage (owner financed)ow me$2000. How do I gt my house bac in my name
How can I get my house back I don't have the money for a Lawyer. How can I do it myself. They ow me $2000 and I need to do something about this problem. Any suggestions?
The OP holds the mortgage. She did owner financing and she's the owner. Sounds like the buyers haven't paid the mortgage in awhile.
You can't do this without a lawyer unless you know the law, can argue in court, and can write the briefs. This will not be a 5 minute fix. This can take months. Have you tried to evict them? Might be easiest to start there. You really need to speak to a local real estate lawyer. They will know your local and state laws. The laws are different everywhere.
I just have to laugh. The original poster left a post that makes no sense and no replies and people have replied with a ton of different scenarios about what might be going on.
I think its best the original poster explain what is going on. Personally, I have no idea.
If this was a contract deal rather than a mortgage, you just evict them. If it was a mortgage, it will take a long time and a lot of money to get your house back. Even after you foreclose you won't have clear title until the rescission period expires. If their lawyer is smarter than you are, foreclosing is going to take very deep pockets.
I wonder if that kind of mortgage should be written in such a way that the buyer would owe a separate penalty for each month that the mortgage is in arrears. For example, if it says there is a $2000 penalty due on the first of the month whenever the mortgage is more than 2 months in arrears. Then could the seller take the buyer to small claims court for the $2000? And keep taking them to small claims court every month to get an additional $2000? And use those judgments to garnish their wages etc.? Each small claims lawsuit would only be for $2000, and the buyer would end up with so many judgments, their credit score would go all the way down. And since small claims court often prohibits lawyers, the informality might give the seller an advantage. Especially since it wouldn't be a foreclosure, but just a bunch of small claims lawsuits to get payment of penalties.
I wonder if that kind of mortgage should be written in such a way that the buyer would owe a separate penalty for each month that the mortgage is in arrears. For example, if it says there is a $2000 penalty due on the first of the month whenever the mortgage is more than 2 months in arrears. Then could the seller take the buyer to small claims court for the $2000? And keep taking them to small claims court every month to get an additional $2000? And use those judgments to garnish their wages etc.? Each small claims lawsuit would only be for $2000, and the buyer would end up with so many judgments, their credit score would go all the way down. And since small claims court often prohibits lawyers, the informality might give the seller an advantage. Especially since it wouldn't be a foreclosure, but just a bunch of small claims lawsuits to get payment of penalties.
Ever heard of usury?
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