Subject to / pre foreclosure / judicial non-judicial
Is there a difference in the mechanics of a pre-foreclosure "Subject To:" deal if the the state the deal is taking place in is a Judicial or Non-Judicial Foreclosure state? Or is it very state specific, if so what types of things should I be looking at. "I live in a judicial foreclosure state.
Thanks
a87quadNJ,
Glad to meet you.
Subject To is a method of purchasing property and has nothing to do with methods of foreclosure.
When you sell the property to a buyer, this is where foreclosure plays a part in how you would get the property back should your buyer default on the Contract for Deed.
If you are purchasing a property no matter what investing method you are using, you will need to get a re-instatement letter from the lender. If you do not do this the lender could accept your money and still foreclose.
Welcome on board this board, we are here to help so keep the questions coming.
John $Cash$ Locke
Hi John
We have already met! (So I'll have to work on my ability to make my presence felt.) LOL
Thank you for the quick response (as usual) I had the feeling that that was the case, but you added a nice piece of information thank you.
PS I enjoyed your RE BirdDog Ebook!
Regards
a87quadNJ,
Maybe I need to change my greeting to posters here at TCI.
Glad to meet you, if we have already met then chaulk it up to memory failure on my part.
Bird Dogging will work out well for you, any questions you might have be sure an post them here at TCI.
John $Cash$ Locke
PS: I will not forget again, I owe you one, when you are ready to collect let me know.
Hmmmmmmmmmmmmmmm
John $Cash$ Locke o w e s me one!
(long pause)
Now...let see... what can I ask $Cash$ for? Hmmmmmm let me think!
John, you don't owe me anything, you have paid me back a hundred times over with your insightful, patient, and knowledgeable postings to this website.
We, instead, owe you a debt of gratitude, and you can collect on that anytime you want!
Now...if you wanna send over one of your Subject To manuals to me that would be fine!