What If Someone Buys The Property Before The Auction
Most investors buying a property at auction will flip it to someone (i.e. owner-occupant) to live in. If the investor wants to sell it, the future owner-occupant will need to obtain clear title to secure a mortgage, requiring all liens against it to be removed (i.e. paid). Thereby when one gains control of a real estate lien they now control a portion of that property.
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How To Flip Lien or Judgment For Fast Cash
One can flip a lien to investors with no money and risk. There are numerous websites where one can list the judgment or mortgage and hundreds of investors will make an offer. Simply deduct what was offered to the creditor from what an investor is ...
What Happens If The Property Does Not Go To Sale
When the deal is optioned, one can simply walk away, extend their option, or buy it now - wait - and collect later. When the deal is purchased, even if the buyer couldn’t qualify for a mortgage today, doesn’t mean it won’t sell, it’s just a matter of ...
Why Is Homestead Exemption Important During Foreclosure
Judgment lien exemption laws apply to forced collections, not voluntary sales. If one forces the sale of the property, which is legal with a judgment, one does not get paid until after the 1st mortgage is paid off in full, then the homeowner gets ...
What If A Debtor Declares Bankruptcy Before The Auction
Foreclosure investors state that ~75% of all properties scheduled for auction never see the courthouse steps. Some feel bankruptcy is better than foreclosure, believing the ~6 months of delays before eviction outweigh the ~$2,000 in attorney fees ...
What If The Debtor Dies Before One Can Collect On A Judgment Lien
If the judgement debtor dies before one can collect on a judgment, the judgment is typically considered ‘uncollectable’ except in cases where the debtor had considerable assets and the judgment is more than a $5,000, then one may want to try ...