Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago, 03/12/2020

User Stats

67
Posts
30
Votes
Alex T.
  • Flipper/Rehabber
  • Houston, TX
30
Votes |
67
Posts

Can I Still Foreclose After Being Sold With an Unpaid Lein???

Alex T.
  • Flipper/Rehabber
  • Houston, TX
Posted

I invested with my traditional IRA account as two different promissory notes for the same borrower on two different flips. One promissory note for one property and one for the other. Unfortunately about 1.5-2 years ago they have not been paid (way past the maturity date) and the borrower says "they will pay" and nothing has happened so far. The plan is to foreclose and regain them as assets into my IRA then up to me to do what I want with both properties (in a picture perfect world)

Title company sold the property too while the liens were not paid. How does that even work??? Aren't liens intact so the borrowers can't sell a house until the liens have been paid off?

Long story, short can I foreclose on both properties after 1.5-2 years after they were sold with a pre-existing unpaid lien (with a recorded deed of trust) when there's already new owners living in them???

Your help is GREATLY APPRECIATED!

Loading replies...