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Updated almost 6 years ago on . Most recent reply

User Stats

125
Posts
92
Votes
Jon Behlke
  • Accountant
  • Hopwood, PA
92
Votes |
125
Posts

Easier to Foreclose than to Evict or No?

Jon Behlke
  • Accountant
  • Hopwood, PA
Posted

So as you may have gathered from earlier posts, my wife is going to inherit some rental properties once the estate of her father settles. We are looking at the best way to handle some of these properties. The idea I had on one of the SFR was rather than keep renting it to the people currently living there we could do a owner financed sale instead. There are some deferred maintenance issues there that we'd rather not deal with, and the tenants seem like they might be agreeable to that kind of arrangement.

My question is, if set up as an owner financed sale, if the mortgage isn't paid timely, is it easier or more difficult to foreclose than it is to evict?  I'm in Pennsylvania if that helps. 

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