How can we get the house back into our names so we can try to sell it to recover some ofthe money that we invested?

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How can we get the house back into our names so we can try to sell it to recover some ofthe money that we invested?

My husband used our savings to buy an extra house to rent. After renting it for a year the renters wanted to buy the house so we went to a title company and sold them the house with us being the mortgage company. After several years of paying faithfully, they started missing payments. We spoke to the several times about catching up with empty promises from them. Now they have moved without a forwarding address. We are hurting financially because of this and need to get some or all of our money back.

Asked on January 16, 2012 under Real Estate Law, Texas

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Okay, you are going to need legal help to straighten this matter out.  Some one needs to read the documents that were prepared here and see how best to proceed.  Now, if the documents were properly prepared, you should be able to foreclose on the loan. I hope that there was a note that was filed.  Once you foreclose then you can take back the house an re-rent.  Good luck.


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