Re: Buying Foreclosures
Posted by steele in minnesota on July 25, 2007 at 16:19:24:
In Reply to: Buying Foreclosures
Posted by Jade on July 25, 2007 at 11:28:50:
Any lien holder that has a property as the collateral can file a foreclosure. Usually when we see individuals it is a seconday loan but I suppose it could be otherwise.
Depending on redemption rights, if any, it seems the house is going to revert back to him. If no redemption then it is going back to him right away.
Yes, this would be the person to contact about a possible purchase. Would be curious as to the particulars on this one.
What state are you in?
Steele
Follow Ups:
- Re: Buying Foreclosures - Jade 17:25:57 07/25/07
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- Re: Buying Foreclosures (url) - steele in minnesota 20:31:51 07/25/07
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- Re: Buying Foreclosures - Jade 11:35:52 07/26/07
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