Nevada  |  Real Estate Law

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7/29/10, 3:22 pm

Legal Question

I hold a deed of trust on a home whose mortgage payments have been defaulted on for 5 months now. Since the debt owed to me is secured by the house, what can I now do to secure what's owed to me? The debt isn't technically due till June 2011, but the borrower has no other assets and has inferred she has little intention to pay me back.

The borrower is upsidedown in her mortgage by approx. 25,000 so taking over the property appears a bad investment.

Thank you for your time!

Todd


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