Need a real estate attorney in North Texas ASAP for Sub-to gone bad

[CJ M.]

Hey everyone, looking for some direction for a very good friend of mine. Can anyone recommend an attorney in Texas (who is available) to discuss with him a sub-to deal that is going bad? He has less than 2 weeks to save the property from foreclosure so need to act fast.

I appreciate any recommendations you have,

CJ

[Jay Hinrichs]

since you post no details so I will make some assumptions.

your friend bought on sub 2.  And somehow the loan went into foreclosure.. Either for violating the Alienation clause or non payment of tax insurance or mortgage payment.

Now you friend is trying to figure out what to do.

its simple he needs to stroke a check and pay the mortgage off. probably does not have enough time to refi.

Now scenario 2.. your friend bought a sub 2 from some one that did the sub 2 and they are not paying your friend is now going to lose his/her house even though they have paid the person who bought it sub 2 ripped his payments and did not pay the underlying and is just a theif.

which is it ???

ways to stop a foreclosure.

Negotiate a forbearance. But if your friend is not the actual buyer and signed the mortgage docs this could be impossible.

sell in 2 weeks for cash. this can happen.

as stated a above payoff the loan in cash now.

If your friend is in title to the property they can file BK  which can be pretty devastating to someone long term but gives them time ..

So it starts now all this sub 2  and the deals are starting to unwind.