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Updated over 2 years ago,

User Stats

20
Posts
7
Votes
Shireen Y.
7
Votes |
20
Posts

Tenant/buyer not paying payments on a wrap loan

Shireen Y.
Posted

Hi all!

I have been dealing with a buyer (now considered a tenant since he's defaulted on his payment so many times) that has stopped making his payments. I have been told by a local attorney that I could evict him, but that he would still have the option to purchase the property in 2025. Apparently, the Home Purchase Agreement and Lease Agreement that I have with him are two separate contracts. My hands seem to be tied but I can't help but think that there has got to be a way out. If anyone can advise or refer me to anyone that could help, I would greatly appreciate it! 

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