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John Forms His Texas LLC

John pleaded for Henry to assist him following Anne’s departure. He understood the only way to save their marriage was to redeem the house, but it was an impossible task in the two weeks that he had before the second eviction trial. Henry was sympathetic to John’s marital woes. He was having some problems himself at the moment. Ginny was upset about their misadventure in justice court, and Henry hired a real estate attorney in Frisco to assist him with the second eviction attempt and future real estate transactions. Henry discussed with the real estate attorney how he could assist John without hurting himself. The attorney devised a plan that...

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The Eviction Attempt

John felt the forthcoming climax of their financial woes. He had been a sales manager with a fast-growing company. But his company had been purchased, and John was laid off. He found a new job, but sales were slower with his new company. His wife, Anne, inquired, “Who was that?” “The buyer from the foreclosure sale.” “What did he say?” He could not evade the question. “He is going to evict us if we can’t pay rent.” “He can’t do that,” Anne exclaimed as tears streamed down her face. “He said that we would have six months to redeem the house.” “He thinks he can.” “What are you going to do?” “I don’t know,” John admitted. John...

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Threat of Eviction Following an HOA Foreclosure

Henry sent the required redemption notices following the HOA foreclosure. In addition, he sent a letter expressing his desire to lease the house to the prior homeowners. Days go by with no response. Henry attempted to contact the lender, but they refused to provide him any information, and he had no way of paying the mortgage on the home he just bought. On the twenty-eight day of the month, he decided to tell Ginny of that they may have to make two mortgage payments without receiving any rent. “What do you mean?” she inquired. Henry explained that he did not want the new house to fall behind on mortgage...

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The HOA Foreclosure

Henry had dreamed of supplementing his income with real estate investments for as long as he could remember. But it was hard. His current house, the one in which he and Ginny lived in Frisco, Texas, with their two children, had twenty years remaining on the mortgage. They had two car payments and two credit cards. His wife giggled at his periodic exuberance for the idea. Henry often checked the foreclosure lists posted on the websites of the Denton County Clerk and Collin County Clerk. However, a friend, Abe, who had recently started purchasing foreclosed real estate, told him about a different foreclosure list. Abe said, “You’ve been looking at...

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