InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Codes 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 60+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: strange foreclosure/probate scenario Posted by rm on October 21, 2003 at 5:52 PM In Reply to: Re: strange foreclosure/probate scenario posted by Rick Harmon on October 20, 2003 at 8:32 PM : Why would the mortgage company inquire as to the other assets in the estate? Also, why do you want a house that's over encumbered (this is a good question for a lot of the people who post here who seem to want a property, any property, even tho' there's no profit in it). Because that's what creditors do when the debtor is deceased. : If OCWEN will take a short sale, I'd go after the insurance money and somehow try to apply it against the real property (I admit it's a long shot) The idea here is to get a short and save the poor girl from having to hand over her college fund to pay off her dead dad's overencumbered property, which she never occupied. : Maybe there's some other angle to this that you're seeing that I don't. Will buying time help you find the owner? I've found the owner. What I want to do is buy time to negotiate the short and flip the property, so I can make a profit, and the heir can pay for college. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Why would the mortgage company inquire as to the other assets in the estate? Also, why do you want a house that's over encumbered (this is a good question for a lot of the people who post here who seem to want a property, any property, even tho' there's no profit in it). : Because that's what creditors do when the debtor is deceased. : : If OCWEN will take a short sale, I'd go after the insurance money and somehow try to apply it against the real property (I admit it's a long shot) : The idea here is to get a short and save the poor girl from having to hand over her college fund to pay off her dead dad's overencumbered property, which she never occupied. : : Maybe there's some other angle to this that you're seeing that I don't. Will buying time help you find the owner? : I've found the owner. What I want to do is buy time to negotiate the short and flip the property, so I can make a profit, and the heir can pay for college. 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. Read our privacy policy.

Copyright © 1997-2003, 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