Acquaint. in Houston Needs Help (Low LTV loan) - Posted by SandYFL

Posted by Ben on February 14, 2000 at 07:26:29:

I purchase tax liens and many times a property owner will get an injunction barring the lien from proceeding to sale.

Acquaint. in Houston Needs Help (Low LTV loan) - Posted by SandYFL

Posted by SandYFL on February 13, 2000 at 20:17:43:

I have an acquaintance in Houston who is getting a divorce. In their agreements they have decided that he gets the vehicles and she gets the house. She states the house is free and clear and she is currently unemployed but looking for work.

After he moved out, she received a Final Notice of Tax Certificate Auction. She was informed the past 3 years property taxes were not paid (11k) and the auction is Feb 29.

She states the house is worth 140k. I encouraged her to seek help quickly in getting small (less than 20k) equity loan against her house in order to pay the taxes. She has asked me for references. She is under the impression that without a job no one will give her a loan.

If you or someone you know could assist on this PDQ please email me at sandy_fl@bellsouth.net Thanks! :slight_smile:

SandyFl

Something amiss here. - Posted by Bud Branstetter

Posted by Bud Branstetter on February 13, 2000 at 20:50:32:

Sandy,

Tax auctions in Texas are held the first Tuesday of the month like foreclosures. That would make it March 7th. Then because it is her homestead she has a two year right of redemption. The buyer does have right of posession the same as foreclosure.

She can not afford the place and needs to get someone in there that can afford it. I would try either Beneficial or Associates to solve the immediate problem. Even my favorite “a restraining order” would work. Maybe I need to go to the Harris County auction in a few weeks.

RESTRAINING ORDER??? - Posted by Steve

Posted by Steve on February 13, 2000 at 22:00:22:

what does a restraing order have to do with the price of coffee in texas LOL

Re: Something amiss here. - Posted by SandyFL

Posted by SandyFL on February 13, 2000 at 20:56:51:

Bud, I was with you, up until the restraining order thing. ???

SandyFL

Re: RESTRAINING ORDER??? - Posted by Bud Branstetter

Posted by Bud Branstetter on February 14, 2000 at 16:25:52:

As Ben pointed out I incorrectly used restraining when I meant a temporary injunction. The judge issues the order to stop the trustee from doing the foreclosure. A hearing is held, after the foreclosure date, so the foreclosure has to be reposted for the next month.