Giving The Homeowner A 2nd
Does anyone here ever give the homeowner who is in foreclosure a loan to bring the mortgage current secured by the property? If they don't pay you can then keep the 1st current and foreclose on the 2nd thereby getting the house? Of course this would only work if there were enough equity and you'd also have to watch it like a hawk to make sure they didn't stop paying the 1st without your knowing it. There are services that will monitor this for you. Anyone do this?
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