InnoVest Resource Management's Foreclosure Forum

Discussion Board Foreclosure Training Title Holding Trust Speaking Schedule Foreclosure Codes 50 State Foreclosure Basics Foreclosure Glossary 60+ Yrs Interest Rates News & Trends FAQ Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Not a smart idea. Posted by JD on March 23, 2002 at 7:52 AM In Reply to: Not a smart idea. posted by Ward-CA- on March 21, 2002 at 5:08 PM I had a former owner buy back a house after I obtained a foreclosure Deed on it. Situation was of course highly unusual. The foreclosing note was a 5 year ballon mortgage that became due. He couldn't refinance because his exwife, whom should have been but was never deeded off the title, had accumulated about $30,000 in judgments agiainst her. : ========= : Yes, but it wouldn't be a smart thing to do since any liens wiped off the title of the property by the foreclosing lien would automatically re-attach to the property if the defaulting owner ever goes back into ownership of the property. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : I had a former owner buy back a house after I obtained a foreclosure : Deed on it. Situation was of course highly unusual. The foreclosing : note was a 5 year ballon mortgage that became due. He couldn't refinance : because his exwife, whom should have been but was never deeded : off the title, had accumulated about $30,000 in judgments agiainst her. : : ========= : : Yes, but it wouldn't be a smart thing to do since any liens wiped off the title of the property by the foreclosing lien would automatically re-attach to the property if the defaulting owner ever goes back into ownership of the property. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction.

Copyright © 1997-2002, InnoVest Resource Management

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455