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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Buying from lender who bot at auction Posted by Steve on April 20, 2008 at 9:52 PM I'm seeking a little advice ... situation: Minnesota, sheriff sale has taken place, only bidder was 1st mtg holder and they only bid a fraction of what was owed. Redemption period is 6 months. Homeowner would like to sell ... but the act of redemption in Minnesota effectively annuls the sale and jrs are revived. Thus a second and a old student loan turned federal judgement loom. Question, can I approach the lender and buy their interest in what they purchased ... even if I paid what they paid dollar for dollar?? Again ... redemption in this case is a deal breaker, I need to get into the position the lender is in. If this is feasable ... could someone coach me a little as to what to ask of the lender. Thanks, Steve Follow Ups: Probably wasting your time Tom 8:42 AM, 04/21/08 (1) Credit Bid ... Huh? Steve 3:09 PM, 04/23/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I'm seeking a little advice ... situation: Minnesota, sheriff sale has taken place, only bidder was 1st mtg holder and they only bid a fraction of what was owed. Redemption period is 6 months. Homeowner would like to sell ... but the act of redemption in Minnesota effectively annuls the sale and jrs are revived. Thus a second and a old student loan turned federal judgement loom. Question, can I approach the lender and buy their interest in what they purchased ... even if I paid what they paid dollar for dollar?? Again ... redemption in this case is a deal breaker, I need to get into the position the lender is in. If this is feasable ... could someone coach me a little as to what to ask of the lender. Thanks, Steve [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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