http://www.trulia.com/voices/Financing/Is_foreclosing_on_an_self_financed_mortgage_a_simi-30506en-ushttp://www.trulia.com/voices/profile/Other-Beaumont_TX-281821/http://www.trulia.com/voices/profile/Other-Beaumont_TX-281821/How do you handle a foreclosure for land only if it has a vendor's lien? Do you have to post a foreclosure or file with the courts?Wed, 18 Jun 2008 12:55:36 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro--241894/http://www.trulia.com/voices/profile/Real_Estate_Pro--241894/Foreclosure is taking back title of the property because a promise to pay a note defaulted. This process occurs in a different court and a much different process. A real estate attorney "or trustee" would be best used for this.After foreclosure occurs, you hope the property is then vacant so you can take possession. If not, the next step is eviction to get the occupants out. It is also very important to understand the laws in regards to owner financing requirements for sellers which includes giving an accounting of interest rate and amount yearly to owner financed borrowers or hefty fines could be imposed. susanfleming@propertiesmartrealty.comFri, 09 May 2008 22:36:37 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-Dallas_TX-123371/http://www.trulia.com/voices/profile/Real_Estate_Pro-Dallas_TX-123371/Suggest to contact a real estate attorney who can handle this for you there are soo many issues here depends on how the contract was issued and etc.Sat, 12 Apr 2008 10:24:12 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-Texas-61252/http://www.trulia.com/voices/profile/Real_Estate_Pro-Texas-61252/No....they are different. Quickly, foreclosure is taking back title of the property, eviction is getting the occupants out. Once you go through the foreclosure process then you may have to evict whoever is there. If you have to ask it's time to call a board certified real estate attorney. Not something you want to tackel yourself.Sat, 12 Apr 2008 07:18:08 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-Killeen_TX-152153/http://www.trulia.com/voices/profile/Real_Estate_Pro-Killeen_TX-152153/Kathy is right, your best bet is to get in touch with a real estate attorney (if you need referrals contact me off-line). Here's a website with more info on Texas property codes: http://law.onecle.com/texas/property/index2.html Good luck.Sat, 12 Apr 2008 06:30:22 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-76234-120098/http://www.trulia.com/voices/profile/Real_Estate_Pro-76234-120098/AGAIN, Texas.....a little bit different animal. FIRST & FOREMOST, DO contact a real estate attorney, Second, did you use a Realtor when you did this Owner Finance? If so, what were the stipulations you put in the exceleration clause of that contract. Default steps should have been spelled out in that section. In any event there are certain time frames in Texas that are much shorter than most states for eviction to take place, BE SURE TO CHECK WITH AN ATTORNEY that is speciaized in the state of Texas. Good Luck.Sat, 12 Apr 2008 06:06:28 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-Butler_County_OH-126984/http://www.trulia.com/voices/profile/Real_Estate_Pro-Butler_County_OH-126984/No! Owner financing with a mortgage still has to go through the forclosure process. That is one of the reasons that I tell my clients not to do a land contract. They lose control of the home. You are lending to people that do not qualify for a loan from sources that make their entire bussiness on lending money. You are taking a larger than normal risk. Setting up someone on a long term lease would be better but that is water under the bridge. Contact an attorney in your area to get the forclosure action started.Sat, 12 Apr 2008 03:02:20 -0700