Tales from the otherside: Final installment

[Anonymous]

Well - it's all over but the crying.

I have previously posted my scary story concerning a mortgage that I carried for a couple that bought a house from me. Short review:

~ Aug. 31, 2006: Closed on house

~Dec 31, 2006: Property taxes due. Buyer didn't pay them. +$2,000

~Jan 15, 2006: First missed payment.

~ March, 2006: Still no payments

~May 2006: Nope. Started sending letters with intent to foreclose.

~June 2007: My attorney finds liens in excess of $723,000 attached to deed. Tax money owed to IRS, State and city tax commission. I'm starting to freak out, a little.

~July 2007: Tell buyer that I am done trying to work things out and that I am going forward with foreclosure. Offer to do a deed in-lieu to avoid going to court. Get no response.

Yesterday:Go to house and meet with buyer. He finally admits that he just can't afford house, and will move out in two weeks.

Yay!

House is in good shape. Since I have a fixed rate mortgage in place at 6%, DH and I will move back in.

[Anonymous]

wtggggggggggggggggggggggggg

I loved the letter that you sent to those %$^&

[Anonymous]

---

HappyDays wrote:

wtggggggggggggggggggggggggg

I loved the letter that you sent to those %$^&

---

Thanks~ We are jut happy that so far so good.

The hardest part, aside from the looming financial hit of paying those taxes, was being made to act like a harda$$. That's just not me. On the sunny side - I think his family will be better off in a house they can afford. I don't wish any ill will towards them, and in fact told him that he must feel the weight of the world on his shoulders and that's no way to go through life. So everyone say a prayer for them tonight - a family lost their home, but they'll make it.

Message Edited by fused111 on 08-26-2007 04:54 PM

[Jacque383]

Hey Tex,

Sounds like it's all working out for you. I'm really glad the house is in good shape - you got lucky there.

Anyway, congratulations.

[Anonymous]

---

TexMontana wrote:

~June 2007: My attorney finds liens in excess of $723,000 attached to deed.

...

House is in good shape. Since I have a fixed rate mortgage in place at 6%, DH and I will move back in.

---

What's the status of the $723K in liens?

[Anonymous]

I have to go forth with a formal legal foreclosure to have them dropped.

---

Noah_Bodie wrote:

What's the status of the $723K in liens?

---

[Anonymous]

I am glad things worked out for you Tex!!!