How do we repossess or foreclose in Texas?

[jla888]

What is the name of your state? Texas
My Grandmother sold a home to a young couple and she agreed to carry the note. Needless to say they are not making the payments or maintaining insurance. We would like to just repossess the property and resell it, we do not want to sell at a foreclosure auction. So the question is, if we can get them to just move out, how do we get their name off of the deed of trust and resell it? Any advice would be appreciated,

[FlyingRon]

If they are willing to deed it back in lieu of foreclosure, all you need to do is get them to sign the new deed granting the property back to you. You file a satisfaction of the deed of trust with the courthouse (or wherever such things are filed in your jurisdiction).

If they aren't willing, then you'll have to foreclose. Your options at the sale are you buy it essentially for the price of the note or someone pays more in which case you get your money and the defaulting party even gets a little.

[jla888]

Thank you Flyingron. I'm going to check with our local county clerk and see if this is possible in our county(Rockwall).