Purchasing The First Lien Of A Propery
ok i found a property. the owner moved to georga and is still paying the loan. she would like to sell it but the property is worth 5000 less than the loan. Is it possible to buy the lein and then have the owner to sign the property over to me. cause she dosnt want to stop making payments and ruen her credit. Is this legal to do. and at what price do i offer the bank if the loan was made to buy a 65,000. home how much would the lein be worth. :-?
You can buy the note at a discount, if you have capital resources.
my lender said i could purchase it as if it were a req