My first potential deal seems a little strange...
Ok so a quick back story. The property Im interested in is actually the house I grew up in. Before talking about emotions hear me out. My mother had a thirty year $30000 mortgage on the house with the mortgage company Beneficial. A little over a year ago she was given the notice that they were starting the foreclosure process. She didnt have the money to fight any of it and was kind of done fighting it. She ended up filing for bankruptcy due to other financial problems.
So a year passes, the foreclosure never progresses, and the house has been empty for about 9 months. About a week ago she got a letter in the mail saying something about the house being her's free and clear, that she just has to pick up the deed and pay the property taxes.
That seems strange to me that they would send that and not try to get any more money from her. Has anyone ever heard of this before? Can it be legitimate or is it too good to be true? I can upload a picture of the document as soon as I get a copy.
If it is true then I will be buying the property from her on the cheap then either flip or rent out the house. That part Im not concerned with, I just wanted to know the validity of this strange document.
Thanks for any help, you guys are the best!