Re: Foreclosure Owner wants a 2nd

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Posted by njspoch on February 18, 2003 at 09:29:30:

In Reply to: Foreclosure Owner wants a 2nd posted by Valerie (N. CA) on February 17, 2003 at 22:45:45:

If he has a diagnosed mental disorder, as you suggest, then you certainly don't want to enter into a Contract with someone who isn't competent to enter into Contract.

Or, perhaps you were being fast,loose, and cute with the characterization of your fellow human being.

To address your question, depending upon the foreclosure laws and customs in the state the property is located... sure it's possible to give a 2nd mortgage in exchange for a loan.

However, it doesn't appear to be a prudent investment.

Follow Ups:

• Re: Foreclosure Owner wants a 2nd - Bill H 22:38:35 02/18/03 (0)

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Comments:
: If he has a diagnosed mental disorder, as you suggest, then you certainly don't want to enter into a Contract with someone who isn't competent to enter into Contract.

: Or, perhaps you were being fast,loose, and cute with the characterization of your fellow human being. 

: To address your question, depending upon the foreclosure laws and customs in the state the property is located... sure it's possible to give a 2nd mortgage in exchange for a loan.

: However, it doesn't appear to be a prudent investment. 


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