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Updated over 8 years ago on . Most recent reply

User Stats

372
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132
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Varinder Kumar
  • Real Estate Broker
  • LA & ORANGE COUNTY CA -Multi Family
132
Votes |
372
Posts

Npn help already foreclosed on

Varinder Kumar
  • Real Estate Broker
  • LA & ORANGE COUNTY CA -Multi Family
Posted

Real life note scenario (that I am seeing now):

Let's say you see a note on a tape and after doing DD you find out that the county has already FC'ed on the property years ago. The note is no longer secured to the property. But you also find out that when it was sold at the tax sale there was an overage. All you would have to do to get the unpaid balance on the note would be to buy the note correct (and of course apply to the county)? Would you even have to board? No lawyers, no foreclosure, no contacting the owner, right?

  • Varinder Kumar
  • Loading replies...