Owner Finance Foreclosure

[Joseph Hernandez]

So, I sold a Parcel in Dec. 2021 using Owner Financing . Title named The buyer as Grantor, Trustee as Myself and Lender as myself. I was told it was much easier to have me as trustee so if I ever need to foreclose I can accelerate the foreclosure. Texas is a non-judicial State and there is no need to go to court. I do however have to show that I have attempted to receive payment. 

So, Buyer missed 1st payment, there is a 5% fee for missing a payment. Buyer then misses 2nd payment, then misses third payment. I finally reach her to occur the payment by phone. She makes a payment for the first month, but is short. 

Mind you, I have sent out letters each month along with emails and calls making her aware of each payment missed. 

I called Title to speak with the attorney who wrote the contract as to how to foreclose. He lives in another city and told me to find a local attorney. I called around and not one person works with foreclosures unless their representing the debtor. 

I have googled ways for owners to foreclose and there isn't actual steps to foreclose.  
This was supposed to be the easiest route I was told by Title, but it has been confusing and draining.

Have any of you ever dealt with something like this or know which route and steps to take? Thank you in advance.

[Greg H.]

The process in Texas is very straightforward and quick but as in all situations in life you don't know what you don't know.  I have done several foreclosures myself over the years but had to have my hand held the first time or 2.  If the property is in San Antonio you should be able to find a lawyer to handle the process for $1500-2000

Basically it is a 2 step process the first being a Notice of Intent to Accelerate followed by the actual posting of Foreclosure.  The time line can be less than 2 months