Foreclosure
How to foreclose/regain title to my own property after individuals had stopped paying mortgage payments and have fled the state. I am the mortgage holder, there is no financial institution involved.
How to foreclose/regain title to my own property after individuals had stopped paying mortgage payments and have fled the state. I am the mortgage holder, there is no financial institution involved.
I recommend that you immediately return to the lawyer who drafted the original mortgage document(s). Get his/her advice on how to proceed.
If you didn't have an attoreny draft and record the mortgage, and you don't plan on consulting with an attorney, then
send them a nice, note, include a deed for their notarized signature from them, to you. Tell them that you'll agree NOT to pursue foreclosure if they sign and return within 10 days. Include a prepaid return mailer.
In CA we usually use a Trust Deed Servicing Company. Look in phone book. Take in Note & deed of Trust , pay them their fee and they will take it from there. They Record & Publish the Notice of Default, 3 mo later they record & publish (Weekly for 3 weeks) the Notice of Sale. They will then hold the Public Auction for the amount due +costs incurred. If no one bids you now own the property, if there are bidders you get paid off.