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Land Contract/Owner now in foreclosure

Posted by Jeanetta on November 11, 2003 at 9:35 AM

I need advice. I am purchasing a home on a land contract, I am approved for a loan from a mortgage company for refinance. We learned that the owner is in default and pending foreclosure. We have paid him each month but he has been "skimming" the mortgage and not paying his debt. How can we peoceed and purchase the property pre foreclosure? What would be the correct path?


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