Posted by Bud Branstetter on October 26, 1999 at 20:29:34:
Will I guess you learned not to buy with a short balloon(under 7 years) without a way out. What you do and how fast you do it depends somewhat on your foreclosure laws. If it takes six months then you have time to do something. If he is being foreclosed before you he has the bigger problem. I know you didn’t make payments because you were selling. What about catching up on payments or has the 120 days expired. It seems like it should be possible to owner finance the prospective buyer that fell out then sell the note to get the problem solved.