What Do I Do?
If I purchase a second from a forclosure sale and the first sale date is a month away what steps do I take to acquire the property?/
If I purchase a second from a forclosure sale and the first sale date is a month away what steps do I take to acquire the property?/
pay off the 1st and evict the previous owners.
so i can refi or write a purchase on the first to buy and just file a eviction from the time I acquire the second at the courthouse.
soryy new to the biz and i just want to take the right steps to avoid getting burned on a bad deal
How can this be turned into an opportunity?
Continue to short the subprime lenders.
[addsig]
ARMs (Adjustable rate mortgages) are a fixed-rate product for the initial 1, 3 or 5 years, depending on the loan. Once the fixed rate period ends, the mortgage adjusts or "resets" at a higher rate.
Why is this significant?
During the boom, millions of Americans stretched themselves financially to buy homes. They are now facing significantly higher monthly payments as their adjustable-rate mortgages are resetting. As a result, many can no longer afford their payments and are faced with losing their homes.
In short, the chickens have come home to roost.
[addsig]
aletoledo, Are you a Toledo Mud Hen.
I was at my local court house Tuesday and they had a forclosure on a first and second at the same time. The bank won the bid.