Subject To Question

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I found a house that the owner can not keep do to financial problems,in october 2004 he found a company that a friend refered to him,he signed a quit claim deed to them,they said they would make the back payments and have everything up to date,he now is getting notices from the county that the house is in forclosure and he is getting mail from every single investor in town,he checked public records and the property was never recorded and it still shows under his name. My question is...can i get this property subject to?what about that company that they are giving him the run around and dont even answer the phone to the owner?just yesterday the owner found out that these people have been collecting the rent and keeping this money every month sinsi october www.04.I want to know if i can get this property without gettig in trouble and legally otherwhise he will loose it and no one will get benefits from this good deal. I need someones advice ...thanks grin

Comments(2)

  • NewKidinTown231st January, 2005

    Have the homeowner report this company to the district attorney, or perhaps the state attorney general. Rent skimming is against the law, and criminal action should be taken against this company.

    Perhaps a court can block the title transfer and allow the homeowner to transfer title to you. The lender may still proceed to foreclosure unless the loan default is cured.

  • feltman31st January, 2005

    the "owner" is actually no longer the owner. This is going to be a complicated mess and the best thing this person can do at this point is get some good costly legal advice. He most likely will be out of luck since he did indeed sign the QCD, but perhaps a local attorney will find a way to clear him.

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