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Irwin Law
Irwin Law, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 7415
Experience:  Attorney 40 plus years private practice. Real Estate, Wills, Trusts, Injury claims. Still active.
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Im in Balto. MD. I seller financed a condo on a five year

Customer Question

Im in Balto. MD. I seller financed a condo on a five year note 7 years ago. The purchaser was not able to satisfy the baloon payment in the 5 years. She is now behind on the condo fees and she is filing for Chapter 7 Bankruptcy. What can I do to get title back to the condo?
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  Irwin Law replied 1 year ago.
Your mortgage documents should tell you exactly what your remedies are now. Typically, you will have the right to accelerate the balance due on the note and sue to foreclose the mortgage on the condo. A court will order the public sale of the condo and you will be able to bid your judgment and perhaps end up with the condo back. THis activity will all be stayed until the bankruptcy court releases the property from its jurisdiction. That's a whole different question.