Deed of Trust in default

[qwkfingers]

What is the name of your state? Texas

My mother recently passed away and in dealing with the estate, there is a property in the state of Texas that we are having to deal with.

The contract is between my mother and the Obligor and the contract expired in April, 2003. The Obligor sold the property to an individual who has defaulted.

Our contract is between us and the Obligor and not the person living in the house, so the Obligor will have to deal with that person. Some $90,000.00 has been owed by the Obligor to my mother for the last year.

My questions are:

1. Do we notify the Obligor to pay up and how long does the Obligor have to settle the debt?

2. Since it's been over a year since the Obligor hasn't settled the debt, can we foreclose?

I ask because the property values at $240,000.00 now and if we have the right to foreclose we would rather and sell the property outright.

Thanks,

Qwk

 

[Meursault]

Contact a real estate attorney in Texas, preferably where the property is located, to begin immediate foreclosure proceedings.

 

[qwkfingers]

Thank you. Can anyone else answer my questions? Peace

 

[Souix]

What is the name of your state? Texas

My mother recently passed away and in dealing with the estate, there is a property in the state of Texas that we are having to deal with.

The contract is between my mother and the Obligor and the contract expired in April, 2003. The Obligor sold the property to an individual who has defaulted.

Our contract is between us and the Obligor and not the person living in the house, so the Obligor will have to deal with that person. Some $90,000.00 has been owed by the Obligor to my mother for the last year.

My questions are:

1. Do we notify the Obligor to pay up and how long does the Obligor have to settle the debt?

2. Since it's been over a year since the Obligor hasn't settled the debt, can we foreclose?

I ask because the property values at $240,000.00 now and if we have the right to foreclose we would rather and sell the property outright.

Thanks,

Qwk

***The answers to your questions will be in either the Contract or the Deed of Trust. Whichever was used***

 

[qwkfingers]

Well, that wasn't very helpful as the deed isn't very clear, hence my reason for asking here. I thought people here actually posted knowledgeable answers. So far, all I've gotten is a couple of half baked responses. Waste of time. If you're going to run a this type of forum at least provide decent answers! I'm outta here!

 

[Meursault]

Listen stupid, how the hell do you expect us to know what your deed says? If you want to hold it up to the monitor then MAYBE we can read it ourselves and give an informed opinion.

Otherwise, good riddance

 

[Souix]

Well, that wasn't very helpful as the deed isn't very clear, hence my reason for asking here. I thought people here actually posted knowledgeable answers. So far, all I've gotten is a couple of half baked responses. Waste of time. If you're going to run a this type of forum at least provide decent answers! I'm outta here!

***If you can't read your security instrument and WE can't read your security instrument, what were you expecting? No one here can give you advice on a document we have not seen or know the terms of. Contact a local real estate attorney in your area or the one who drew up the instrument and go from there.***

 

[HomeGuru]

Oh brother, is it a full moon again?