2nd Forclose
i have a wholesaler that purchased a second for 80k and wants 50k which equals 130k for the second, the home has a first for 275 so the purchase will be 405k on a home worh 550k. what stepes do i take to fully forclose to pay the first off and what do i do with the owners there curently?
70k .
1st is in default.[ Edited by renobasement on Date 05/30/2007 ]
Sorry I posted wrong.
the wholesaler purchased the second and paid the first current and is in the loop with the family. so I am basically submitted a purchase agreement to buy the 1st and second as a home purchase in escrow. I understand without the first being on board i would be risking losing alot of cash. so i think this is a good deal. also this is a california deal-los angeles[ Edited by renobasement on Date 05/30/2007 ]
I will make sure of that but im 100% sure escrow and title will not close without that.