Legal Question in Real Estate Law in Texas

Default on Owner Financed Mortgage

The buyer of residential lake property is two payments behind having made only one. The buyer has

been contacted numerous times by phone and promises faithfully that the payment will be made by a certain

time but when that time comes around there is no payment. I do not care to have to track this buyer down constantly. What are my legal alternatives in this matter?


Asked on 12/01/01, 9:36 pm

1 Answer from Attorneys
David Leon David L. Leon, P.C.

Re: Default on Owner Financed Mortgage

If you are the seller / financer, then you should have some remedies enumerated in the documents you used to sell the parcel. Typically, there is a written warning, followed by an acceleration of the note, followed then by a foreclosure.

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Answered on 12/03/01, 10:48 am


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