Roberto
Guest
Are you quoting Mexican law or US law in some state or region?
Now the story is starting to shape up. Does sound like a contract that went awry. Either way the owner (seller) can not disqualify the original contract unilaterally, the burden is on him not the Buyer. If a good amount has been placed originally (downpayment) plus accrued P in the P&I; the owner is required to give the seller time to make good on the balloon. Time to allow a Foreclose can not be done in 24 hours, and time allowed is dependant on the amount received by the seller. The source of the funds for the balloon should not matter. Depending on the amount of the original down payment and total received by the seller determines time for redemption.
(For ex; take an extreme: Imagine 90% down and 10 % ballon, do you think one day late can be upheld in any court?)
The Buyer should file a legal claim to encumber the transfer and any Buyer would be a fool to get in between this current deal. Any Notario would never allow a transfer until this encumbrance is cleared. Strangely here in RP many purchases are being done with out Title transfers. Some buyers are happy witht the right of use, and this right of use is just purchased and sold like "options on a purchase". The seller considers it rent until purchase (rent to buy)and the buyer considers it mortgage payments (Seller financed). This until the title is cleared up which may never happen.