Buyer bailed with back payments AND FTHB credit due

:help Buyer bailed in our recorded owner financing deal 60 days after closing with back payments due and the first time home buyer credit that was supposed to be the down ended up going to her and she took it and ran. How do I recoup my money and/or get that $8,000 down payment from her now?

I do not have a working phone number for her and she shut down her e-mail


You have some serious issues to contend with. First the fact that this is a recorded transaction you will need to talk with a real estate attorney as unless you can get her to immediatly sign the property back as deed in lieu of foreclosure you may have to wait out your states foreclosure statute to regain legal ownership through foreclosure.

I think I would be more concerned right now as to how you regain legal ownership of the property as you can go after her (I hope you have her SS#)at any point during the next year without statute problems and potentially garnish her wages.

I also would not touch or enter the property right now until you work out the legal details!

Use a skip tracer and supply the womans original application (Copy) with you with her pertinent information.

Good luck,