InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Annual Reunion Speaking Schedule Store Foreclosure Fundamentals Code References 50 State Foreclosure Basics Foreclosure Glossary Foreclosure Statistics 70+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map About Us Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Owner has died and loans are in default Posted by Kelly on March 03, 2010 at 8:58 AM In Reply to: Owner has died and loans are in default posted by Jay Sherman on March 02, 2010 at 8:13 PM : I have come across an interesting situation. I have found a great foreclosure deal. The home is vacant, it needs a ton of rehab, there is a lot of equity, a trustee sale is fast approaching, the only person on record for the home is dead and none of the neighbors know where the next of kin is. : My original intention was to do a Subject To and bring the loans current prior to the knowledge of the deceased owner. Should I simply wait for the trustee sale now or continue to be aggressive in some other direction? Any suggestions or thougths on this one? Have you considered using Adverse Possession in this case? If there is equity in the property reinstate the loan , keep payments current , improve the property and pay the property taxes. In five years bring a Quiet Title action to get title to this property. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I have come across an interesting situation. I have found a great foreclosure deal. The home is vacant, it needs a ton of rehab, there is a lot of equity, a trustee sale is fast approaching, the only person on record for the home is dead and none of the neighbors know where the next of kin is. : : My original intention was to do a Subject To and bring the loans current prior to the knowledge of the deceased owner. Should I simply wait for the trustee sale now or continue to be aggressive in some other direction? Any suggestions or thougths on this one? : Have you considered using Adverse Possession in this case? If there is equity in the property reinstate the loan , keep payments current , improve the property and pay the property taxes. In five years bring a Quiet Title action to get title to this property. [ 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. Read our privacy policy.

Copyright © 1997-date("Y"), InnoVest Resource Management
http://www.foreclosureforum.com

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