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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Try this approach.. Posted by Ward-CA- on November 11, 2003 at 5:02 PM In Reply to: 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? =?=?=?=?=?=?=?=?=?=?= Jeanetta, Get the owner to discount the sales price by the amount he skimmed from you. Then open escrow with him and sign your mutual escrow instructions, etc. Ask the escrow officer for a certified copy of the escrow instructions and fax them to the foreclosing lender, asking for time to complete your escrow. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : 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? : =?=?=?=?=?=?=?=?=?=?= : Jeanetta, : Get the owner to discount the sales price by the amount he skimmed from you. Then open escrow with him and sign your mutual escrow instructions, etc. Ask the escrow officer for a certified copy of the escrow instructions and fax them to the foreclosing lender, asking for time to complete your escrow. : Hope this helps. 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

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