My husband and I live in Arizona. We sold a piece of property with a mobile home on it and are carrying a note with the buyer. The home IS legally attached to the property. The buyer still owes us $36,000 and was just arrested for embezzeling 1,000,000 from his employer. :eek:

So what is your question?

My husband and I live in Arizona. We sold a piece of property with a mobile home on it and are carrying a note with the buyer. The home IS legally attached to the property. The buyer still owes us $36,000 and was just arrested for embezzeling $1,000,000 from his employer. :eek:
He is currently delinquent in this month's payment and we expect that he probably will default, under the circumstances. Eviction is not a relevant problem... they live elsewhere.

A. Can WE handle the legal proceedings ourselves, vs. hiring an attorney?
B. We have a Trust Deed that was filed with the county... so what would be our next step in filing a foreclosure?

As long as the buyer is willing to make the late payment, and continue his monthly payments as scheduled, we don't necessarily want to forclose on him. But in case the court tries to seize this property as part of a restitution order to staisfy his debt to his employer... how can we be sure the court will know that our debt needs to be satisfied FIRST?

Thanks for your time!

We can handle legaly

Thanks for the offer... but the question was about doing it OURSELVES.

Hello mike:

I'd be doing a little reposessing, if I was you.

excon

Thanks for answering! I', new here so somehow I hit submit before I got the question finished... and then couldn't figure out how to delete the incomplete one. Anyhow... to read it all please look for the one called "What To Do About A Delinquent Mortgage" posted by mikeandkaren yesterday, 4/22/09.

Thanks for your time!

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Originally Posted by mikeandkaren

... He is currently delinquent in this month's payment and we expect that he probably will default, under the circumstances. ...

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If he is delinquent he is in default, no?

Is the trustee under the trust deed a title company? The first thing you need to do is talk to the title company. They will probably insist that you get an attorney.

Thanks, AK Lawyer! I just decided to heck with trying to do it ourself. There's a lot of $$ at stake... so I'm going to call the title company as you suggest, and hopefully they can refer me to a good lawyer that isn't too expensive.
Karen