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Chris Dengel
  • Investor
  • Taylorsville, KY
5
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Is it risky to be added as an authorized user on a delinquent act

Chris Dengel
  • Investor
  • Taylorsville, KY
Posted Jun 1 2017, 17:03

I'm trying  to acquire a property after  I saw the owners moving, and they said they're letting the bank have it back. I call the bank's loss mitigation department and they said to get any info or begin the negotiations, I need to be added as an authorized user. I am concerned about being black listed from purchasing it in the future or being tied to/obligated to the mortgage of a delinquent account.  Can some one shed some light on this process? Or has anyone successfully purchased a property this way?

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