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Foreclosure Forum |
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Re: Buying a house In Foreclouse Not Sold YetIn Reply to: Buying a house In Foreclouse Not Sold Yet posted by George Norman on August 28, 2003 at 7:33 PM : I have an opportunity to purchase a house that is in Foreclosure at 65% FMV. The owner is in Chapter 13 and has not made any payments in 4 months. In order to sell they must file a motion to sell assets, 45- 60 day process. Can I get a new mortgate, pay off the 1st Mtg and get title to the property without a problem? Can I get title insurance? What are the risks to the buyer and seller doing a deal without getting approval to sell via the bankruptcy court?
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