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Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 53682
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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I sold my home as a owner financed via warranty deed and a

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I sold my home as a owner financed via warranty deed and a wrap around loan. At closing at a title company the closing papers had an amount of the interest and escrow for the buyer to pay. Those payments have been made for almost 2 years. I have tried to collect for escrow shortage due property taxes/insurance. The owner has not paid anything toward increases in insurance or property taxes. How can I collect?
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good afternoon. If the owner will not pay you voluntarily, you'll need to file a breach of contract suit against the owner for the shortfall. This will give you the collection options and leverage you need. If the amount is $10,000 or less, you can file this claim in small claims court and won't need a lawyer to help. Once the suit is filed and a judgment awarded, you become a judgment creditor, and if the losing party doesn’t then pay the judgment, you can have the sheriff serve a summons on the losing party for a debtor examination. That forces the losing party to meet the judgment creditor in court and answer questions under oath about the losing party's assets. After that information is obtained, the judgment creditor has the power to attach bank accounts, have the sheriff seize other personal property, and/or place liens on any non-homestead property to satisfy the judgment. Unfortunately, Texas is one of 4 states that doesn't allow a wage garnishment in this type case.

Thank you so much for allowing me to help you with your questions. I have done my best to provide information which will be helpful to you. If I have not fully addressed your questions or if you have any follow up questions, or if I have misinterpreted your questions in any way, please do not rate me yet, but simply ask a follow up question without rating so I can provide you with a fully satisfactory answer. If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service with 3, 4, or 5 faces/stars so I can receive credit for helping you today. I thank you in advance for taking the time to provide me a positive rating!
Richard and 4 other Real Estate Law Specialists are ready to help you
Thank you so much for the positive rating! I appreciate having had the opportunity to serve you! If I can be of assistance to you in the future, just look me up and I will be happy to help!

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