Asked by debeale, Fort Worth, TX • Sat Jan 12, 2013
I sold my house to a company that used a 'subject 2' transaction in 2007. They would take over making the payments and I would transfer the house to them. It was with the understanding that in 1 - 2 years they would finance the house and all proceeds would go to them. Well 2 years turned into 4 years and then they started making payments late. Then they stopped making the payments and haven't made any payments in 2 months. I tried to contact the company without success. I did contact the people who are in the house and explained the situation. They "bought" the house from the original company in 2007 and have their payment automatically withdrawn from their bank. So they're not the problem. I checked Tarrant County TAD web site and the people that are currently in the house are listed as the owners. My question is, do I have any recourse against the original company and what is the possibility of selling the house to the current occupants.
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