Melon head

Posted by Dan on December 04, 2002 at 06:52:39:



As a rookie or 'melon head', please excuse me for this question.

I live in East Tennessee and have watched the local paper for a while and read this board and others regarding buying property that is going into foreclosure.

I know that folks here are proponents of the PACT trust but I wondered if it was 'absolutly' necessary to go that route.

There is a house that is in an area of lower costs homes....40-60k, and is listed for foreclosure. I am interested in buying it as a rental.

Do I approach the owners that are listed in the foreclosure notice in the paper? Do I wait until it is sold on the courthouse steps?



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