Help W Mobile Home/Land In Foreclosure??

goodbuddy profile photo

Hi!
This is a tricky one for me. I am interested in purchasing a mobile home with land in a pre-foreclosure sale. It is now in lis pendens has been listed under "Legals" in our paper. The owner is deceased and it appears there are no heirs. I could not find a will at the courthouse.
My question is, who do I go to to make a pre-foreclosure purchasing offer? Do I contact the attorney for the plaintiffs? If there is no will then doesn't this mean that there is no one who has the "power" to sell the mobile home/land before the foreclosure auction?
Help anyone? THANKS!! oh oh

Comments(1)

  • JohnMerchant17th March, 2004

    This is tricky because heirs could pop up later claiming an ownership interest.

    If I were doing this, I'd prefer to buy the note from the present note holder & then continue the foreclosure myself...so as to eliminate ALL other claimants.

    This is not always possible, particularly if the note holder is a Fed insured bank, because they must foreclose in order to collect their insurance...and cannot really sell the note for less than 100% payoff of their note.

Add Comment

Login To Comment