Holding Mortgage- Foreclosure Proceedings

[Jekian]

What is the name of your state? alabama

I sold a home of which I hold the mortgage. the papers were drawn up to give the tenants 60 days in arrears before they were in default (no late payment penalties). The payments have rarely been on time and for the last three months they have been playing "dating" games. They will date their check on say the 5th of the month (due date is the 20th) and then mail the check on the 15th. (according to postmark) (I live out of state so it takes 4 or 5 days to receive mail) This month I have not received a check and they are now 60 days past due. I feel i will receive a check any day that will be dated the 5th of the month. The postmark will most likely be AFTER the 20th since it is now the 26th. (does the check have to be in my hand by the due date or mailed by the due date in the eyes of the law?) I know I pay my bills so they will be in house before due dates.

What steps should I take? The postmark will prove the check was not mailed in time to reach me by the 20th even though the check will be dated much earlier. Should i go ahead and contact an attorney to begin proceedings or should I contact the tenants and try to get them back on time which has proved fruitless for the most part in the past. I feel by doing so is only putting off the inevitable.
Thanks!!

 

[HomeGuru]

What is the name of your state? alabama

I sold a home of which I hold the mortgage. the papers were drawn up to give the tenants 60 days in arrears before they were in default (no late payment penalties). The payments have rarely been on time and for the last three months they have been playing "dating" games. They will date their check on say the 5th of the month (due date is the 20th) and then mail the check on the 15th. (according to postmark) (I live out of state so it takes 4 or 5 days to receive mail) This month I have not received a check and they are now 60 days past due. I feel i will receive a check any day that will be dated the 5th of the month. The postmark will most likely be AFTER the 20th since it is now the 26th. (does the check have to be in my hand by the due date or mailed by the due date in the eyes of the law?) I know I pay my bills so they will be in house before due dates.

What steps should I take? The postmark will prove the check was not mailed in time to reach me by the 20th even though the check will be dated much earlier. Should i go ahead and contact an attorney to begin proceedings or should I contact the tenants and try to get them back on time which has proved fruitless for the most part in the past. I feel by doing so is only putting off the inevitable.
Thanks!!

**A: I do not quite understand your position. If you sold the home, then the Buyer must evict the tenants and not you since the Buyer should have legal title to the property subject to your mortgage.
You must foreclose on the mortgage in order to get the property back.
From the information in your thread, you appear to be the landlord. You must follow the residential L/T law to evict the tenants.

 

[Jekian]

Thanks for the reply and I did mislead you. I referred to the buyers of the home as the tenants. I own the home and I financed it for the "tenants" (new owners.) There is no middleman here.
Sorry

Jekian

 

[HomeGuru]

Thanks for the reply and I did mislead you. I referred to the buyers of the home as the tenants. I own the home and I financed it for the "tenants" (new owners.) There is no middleman here.
Sorry

Jekian

**A: if you sold your home, the Buyer's are not tenants.
Why do you keep on calling them tenants? Are you some sort of Dr. Jekian and Mr. Hyde?

 

[Jekian]

I don't think I CONTINUED to call them tenants. I was simply showing YOU that the new owners were mistakenly called tenants. Had no idea that would become an issue and I would not get an answer to the question. My reply cleared up that issue except for someone who has nothing better to do than criticize but I have found in life that people who do that are lacking in their own life and have to be critical of others to make themselves feel superior. If you do not have an answer, why reply?

 

[HomeGuru]

I don't think I CONTINUED to call them tenants. I was simply showing YOU that the new owners were mistakenly called tenants. Had no idea that would become an issue and I would not get an answer to the question. My reply cleared up that issue except for someone who has nothing better to do than criticize but I have found in life that people who do that are lacking in their own life and have to be critical of others to make themselves feel superior. If you do not have an answer, why reply?

**A: Hey Jerkian, what are you talking about?
Now you have created a situation here where no one is going to help you now.
Good day!