Default of contract for deed by seller
I had a contract for deed, my payments were sent to the seller every month and the seller did not make the payments to the mortgage company, they foreclosed, is ther anything that I can do to get my money back?
Re: Default of contract for deed by seller
There are types of frauds by confidence artists (con men) which surface every twenty years (a generation) or so. Perhaps this is just the regular generational surfacing of this particular con and perhaps it is something else. However, this type of a fraud was at one point so prevalent that I have seen a federal statute (federal law) specifically prohibiting a party selling a house, taking payments and never paying the mortgage. You should contact your local state district attorney and if you can interest the (federal) United States Attorney (you might not be the only victim of this seller) then one of them might prosecute this matter. They might say it is a civil matter, but if you point out a federal criminal law directly relating to this scheme, perhaps you will have more luck.
Basil Hoyl
Law office of Basil Hoyl
4001 Airport Fwy., Ste. 190
Bedford, TX 76021
Re: Default of contract for deed by seller
You can sue the Seller, although it will probably be difficult to collect. You probably do not have any remedies against the underlying lender.
Michael Dover
Michael A. Dover, PC
1405 Vontress Dr., Suite 1101
Plano, TX 75074
Re: Default of contract for deed by seller
I would need to look at the document and know more about the foreclosure to see if you have any remedies. If you do not have an attorney, you can contact me for a free initial consultation.
Cheryl Rivera Smith
The Smith Law Firm
11660 Creek Point Drive
Frisco, TX 75035-8278