Preforeclosure laws?
I just want to know if there are any laws as to what you can offer a default homeowner for their home.
For example: If they owe $100,000 for a $250,000 house and I offer to pay there debts as long as they sign the deed over to me. Is there any laws against this, if so where can I find all of the laws pertaining to this kind of situation.
Remember: This is an exaggerated example, I just want to find out if there are any laws.
I am planning to start investing immediately, but I do not know where I can locate the laws to this kind of investing. Someone please help me! 
The reason you haven't found many laws on preforeclosures is because this is called The Creative Investor. You are being creative when coming up with solutions to homeowner's problems. It is not illegal to purchase a home from a homeowner and assuming their debts. Just make sure you find a RE attorney who works with investors and can review all your paperwork before having the homeowner sign on the dotted line.
Tanya
Hi!
Get on you computer go to Stanford Law Web site pull up you state and check all lws ,statues pertaining to FCs CYA CYA CYA
Sappster
Thank you both for clearing that up for me. I just wanted to make sure
thanks
TJ
To my knowledge there are no "Laws" in any state regarding the purchase price during preforeclosure. There is however equity cases such as Durrett vs Washington National Bank when properties are purchased too low at a Foreclosure Sale.
Hi Sappster. Do you have a link to the page on Stanford's site linking to the different states' f/c laws? Thanks.
Ib goto wwww.legal information institue.
Hey Lee,
your right their are no laws pertaining to that! Their are many laws pertaining to
Unjust Enrichment, Consumer watch dog groups.Equity Theft Ect Ect.