Legal Question in Real Estate Law in California

What are the steps to take back a home that I am the bank, I am owner carrying a loan for the buyer on a forrestry owned land that the buyer has defaulted on several payments?

Asked on 9/19/13, 8:30 pm

3 Answers from Attorneys

Anthony Roach Law Office of Anthony A. Roach

You mean you are a hard money lender? It would help to know whether or not the loan is secured, and if it is, how it is secured. This is something that should be discussed with an attorney, rather than on a bulletin board forum like Lawguru.

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Answered on 9/20/13, 8:28 am
William Christian Rodi Pollock

I agree with Mr Roach. Your proper action depends on the documents reflecting the loan and security terms. If you have a deed of trust, your remedy will, in general, be foreclosure. See an attorney who can advise you based on your circumstances.

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Answered on 9/20/13, 9:47 am
Phillip D. Wheeler, Esq. Phillip D. Wheeler, Attorney At Law

If there are security terms attached to the loan then it depends. Are there? In my experience these situations become foreclosures.

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Answered on 9/20/13, 10:12 am

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